The Company addresses social risks with regard to its employees and retirees as well as other social partnership entities. As regards the risk of ineffective social policy, we primarily aim at creating sustainable working environment, fulfilling obligations under the Collective Bargaining Agreement and supporting a positive image of Russian Railways to prevent weakening of labour productivity, staff motivation and overall performance, as well as avoid collective labour disputes and strikes. The key areas of social risks include HR management, incentives and compensation, social development and healthcare.
In 2022, the following measures were taken to mitigate these risks:
- employee training;
- improvement and development of social benefits and guarantees for Russian Railways’ employees and retirees;
- revision/update of Russian Railways’ regulations;
- analysis of performance under the Collective Bargaining Agreement;
- adjustment of the strategy for the social policy to factor in external and internal factors;
- staff monitoring, continuous information sharing through corporate media, addressing public queries, participation in employee meetings.