Red Eléctrica’s 10th Collective Bargaining Agreement. Sustainability

The negotiation of the 10th Collective Bargaining Agreement is based on three essential cornerstones: sustainability, flexibility and efficiency. These three pillars, fully integrated together, have marked the negotiation and therefore the agreement reached.

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José Antonio Vernia Peris, Manager of Organisation and Human Resources Planning Department

The negotiation of the 10th Collective Bargaining Agreement is based on three essential cornerstones: sustainability, flexibility and efficiency. These three pillars, fully integrated together, have marked the negotiation and therefore the agreement reached.

In the first article published in this blog, Red Eléctrica’s 10th Collective Bargaining Agreement. Flexibility, I focused mainly on the summary of the development of the negotiation process and the major milestones achieved. In the second article published, we focused on efficiency, and as good things come in threes, on this occasion, we will address sustainability.

We address the term sustainability as the third of the fundamental pillars of the negotiation of the 10th Collective Agreement with the idea of "reaching an agreement that can be maintained for a long time without exhausting resources." In addition, the concept behind this idea needs to be understood within the context of sustainability in working relations; in other words, reach an agreement that makes the bond between the Company and the social representatives sustainable over time, an element that is essential in order to continue to build together in a positive spirit.

Sustainability

What sustainability? Any agreement that results in an improvement in the well-being of Red Eléctrica employees and that at the same time promotes a company that is both robust and adapted to the new and future demands that we must face.

Why sustainability? Because in a competitive and volatile environment like the current one and, above all, in a scenario of global crisis as it was when the agreement was negotiated, sustainability ensures the survival of the company and, therefore, of jobs.

Sustainability – what for? So that the agreements reached enable us to face the current and future challenges in a sound way that ensures they are overcome and that favours our own growth

What does the 10th Collective Bargaining Agreement offer in terms of sustainability? Several measures are introduced, among which noteworthy are the adjustments to work schedules to meet new demands and the improvement in the flexibility and management of work schedules, due to the uncertainties of the needs which may need to be addressed, and improvements in the work-life balance.

As for the remuneration aspects and salary reviews contemplated in the Agreement, the Agreement introduces a reference formula linked to two aspects related to sustainability: internal productivity (the Company’s) and external productivity (Spain’s).

The first, internal productivity linked to the achievement of the Company’s objectives, is directly related to the fulfilment of our 2014-2019 Strategic Plan; the cornerstone that ensures the sustainability of Red Eléctrica. The second is the external productivity linked to Spain’s productivity based on the inter-year variation rate in the gross domestic product (GDP), which is a reference of our future within the overall context of the country.

Therefore, the salary review undertaken in this Agreement will be linked to both the achievement of the milestones set out in our current Strategic Plan and the economic development of the country. Hence, in order to promote the sustainability of the Company, we should drive the adequate deployment and implementation of the Strategic Plan while contributing, to the extent of our possibilities, to the adequate development of the Spain’s economy.

With the publishing of this third article, we have completed the review of the three fundamental pillars that guided the negotiations and which gave way to reaching a definitive agreement for the signing of the 10th Collective Bargaining Agreement of Red Eléctrica.

The signing and implementation of this Agreement, has demonstrated that we are able to design and achieve an innovative agreement that subsequently has become a benchmark for other large companies in Spain, something that should make us all feel satisfied with the outcome.

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