ESG - SocialHuman resources management ALTUM's Personnel Policy sets out the basic principles of sustainable personnel management. Its aim is to ensure unified, effective personnel management to attract, retain, and develop qualified, professional, and motivated employees to achieve high operational efficiency, as well as to ensure compliance with legal norms in labor relations, improve work organization, and promote employee development and loyalty to ALTUM.
Diversity, inclusive work environment, and human rights In accordance with ALTUM's Diversity, Equality, and Inclusion Policy, ALTUM supports diversity and equal rights in personnel selection, growth, and development, in no way endorsing or promoting discrimination based on race, religion, age, ethnicity, sexual orientation, disability, and other aspects. ALTUM aims for long-term employment relationships and is pleased with the relatively low turnover rate among employees, as well as the significant tenure of many of our employees in the company. In 2023, the natural turnover of employees (voluntary resignations) was 8% (2022: 12.4%). The average length of employment in the company is 9 (2022: 10 years) years, with the longest tenure being 30 years.
ALTUM is characterized by diversity, equality, and a non-discriminatory approach. Our goal is to create an inclusive work environment where employees can fully realize their potential. Respect and fairness are fundamental principles outlined in ALTUM's Code of Ethics. ALTUM's approach to inclusion, diversity, and human rights issues, as well as the whistleblowing mechanism, are defined in the Code of Ethics. In 2023, no reports (2022: no reports) were received through the Code of Ethics reporting mechanism.
ALTUM provides an inclusive work environment that supports diversity and prohibits discrimination based on ethnicity, age, gender, disability, sexual orientation, religion, political opinion, marital status, social background, or similar characteristics. ALTUM's internal culture is focused on cooperation, support, and respect, thus implementing one of ALTUM's values – "team".
ALTUM monitors diversity and inclusion indicators in various areas. This helps analyze the current situation and address challenging areas, including gender pay gaps, gender balance, and age indicators.
The diversity of ALTUM employees is of significant value, as their unique professional and life experiences contribute to growth and development to the company. ALTUM is a participant in the Latvian Diversity Charter – we work on creating an inclusive environment within the company and support the activities of the charter. We have also joined the "Strength in Diversity" movement initiated by the Society Integration Fund, aiming to support and share experiences on diversity management and learn to practice diversity management.
In 2023, ALTUM received the "Diversity-Friendly Employer" bronze status for its positive contribution to the implementation of diversity principles and its commitment to excellence in creating an inclusive work environment.
ALTUM has been awarded the status of "Family-Friendly Company" by the Society Integration Fund.
The average number of employees in 2023 was 250, with 70% being female and 30% male. ALTUM encompasses a wide age range among its employees, with 11% aged up to 30 years, 66% aged between 31 and 50 years, and 23% being over 51 years old. The youngest employee at ALTUM in 2023 was 21 years old, while the oldest was 70 years old. The average age of ALTUM employees is 46 years.
In 2023, ALTUM had 51 employees in senior and mid-level management positions, with 68% being female and 33% male:
•71% of managers were aged between 31 and 50 years old.
•29% of managers were over 51 years old.
The number of specialists in 2023 was 199, with 72% being female and 28% male:
•14% of employees were aged up to 30 years old.
•63% of employees were aged between 31 and 50 years old.
•23% of employees were over 51 years old.
ALTUM values professional growth of the employees, with vacancies initially assessed based on the potential of existing employees. Last year, 35 positions were advertised, and in 2023, all advertised vacancies were promptly filled, indicating a positive image of ALTUM as an employer and a high-quality personnel selection process. All ALTUM employees had the opportunity to participate in 10 internal recruitment competitions, with 4 positions filled by candidates from within ALTUM. Assessing professional growth, 28 employees, or 11%, received promotions in 2023.
In 2023, all ALTUM employees had written employment contracts, ensuring official registration of labor relations and providing all necessary information to the relevant state institutions.
Human resource management (cont’d)
On average, ALTUM employed 232 (2022: 208) permanent employees and 26 fixed-term employees in 2023. ALTUM's work environment allows for both full-time and part-time employment, with flexible working hours and remote work options (hybrid work).
The working conditions, remuneration, benefits, and other terms of employment are designed to provide equal opportunities for all