On April 16, 2025, a significant agreement was reached between Intesa Sanpaolo and various labor unions, marking a pivotal moment for approximately 70,000 employees. The newly established variable bonus scheme will provide employees with bonuses ranging from 1,275 to 3,140 euros, depending on their professional classification. This move is seen as a crucial step in enhancing employee satisfaction and motivation within the banking giant.
The agreement, which was signed in Milan, includes provisions for a potential increase of up to 30% based on the performance of the 2024 balance sheet. This could elevate the bonuses to a minimum of 1,650 euros and a maximum of 4,100 euros. Additionally, employees earning up to 40,000 euros will receive an extra payment ranging from 100 to 150 euros, aimed at providing further financial support.
According to a statement from the FABI union, the new structure not only increases the base guaranteed bonus by 11% but also introduces a one-time payment for employees on parental leave and for new hires starting from July 1, 2025. This change is expected to foster a sense of security and appreciation among the workforce.
Paolo Citterio, the coordinator of FABI within the Intesa Sanpaolo group, emphasized the importance of this agreement, stating, "The agreement signed today determines an 11% increase in the guaranteed base bonus for colleagues." This sentiment reflects a broader commitment to improving working conditions and financial incentives for employees.
Moreover, the agreement ensures greater transparency regarding the objectives tied to the incentive portion, as well as the calculation methods for the final amounts that will be disbursed in 2026. This transparency is crucial in maintaining trust between the management and employees, as it allows workers to understand how their performance directly impacts their bonuses.
The PVR 2025 agreement, also finalized on the same day, will see the disbursement of bonuses scheduled for May 2026. The allocated bonus pool for this program has increased to 170 million euros, divided into three main categories: 105 million euros for the base bonus, 40 million euros for quota A, and 25 million euros for quota B. This substantial pool reflects the company's commitment to rewarding its employees based on their contributions and performance.
The base bonus for employees has been increased by approximately 11%, bringing it to a minimum of 1,275 euros and a maximum of 3,140 euros, depending on the professional figure. Similar to the variable bonus, these amounts could also see a further increase of up to 30% based on the performance of the 2025 budget.
One of the notable changes in the PVR 2025 agreement is the introduction of a new quota C, which will be financed through the commission income of the BdT Division. This quota will be available to retail, exclusive, corporate, agribusiness, third sector, and digital remote branches, contingent on achieving at least 110% of the commission revenue budget at the branch level. The operational excellence indicator must also meet at least 100% of the target as measured in the scorecard for quota A.
Furthermore, the minimum guaranteed amount for the excellence portion of quota A has been set at 200 euros, in addition to the base bonus value. In a move to promote professional development, the penalty for colleagues who do not complete mandatory training courses on time has been reduced to 10% for those who finish within 15 days of the deadline.
Additionally, the days of absence for parental leave that do not impact the valuation of the PVR have been increased from 60 to 90. This adjustment recognizes the importance of work-life balance and supports employees during significant life events.
The one-time payment for colleagues hired after July 1, 2025, who complete their trial period by December 31, 2025, has also been increased to 450 euros. This increase is designed to attract new talent and provide immediate financial benefits to new hires.
The maximum gross annual salary threshold that guarantees an additional payment of 100 euros to the base bonus has been raised to 40,000 euros, further enhancing the financial incentives for employees. This change aims to ensure that more employees can benefit from the bonus structure, regardless of their specific roles within the company.
As part of the agreement, Intesa Sanpaolo has committed to providing detailed explanations of the mechanisms behind the PVR 2025, including potential adjustments to the excellence bonuses. This transparency is a crucial aspect of the agreement, as it aligns with the unions' long-standing demands for clearer communication regarding incentive structures.
Moreover, the agreement includes provisions for three review sessions to assess the conditions for accessing the excellence quota, which will be distributed across commercial territories. This proactive approach is intended to ensure that employees remain informed and engaged with the incentive program.
Overall, the agreements reached on April 16, 2025, represent a significant advancement in employee compensation and benefits at Intesa Sanpaolo. By prioritizing transparency, performance-based rewards, and employee support, the company is not only investing in its workforce but also setting a precedent for other organizations in the banking sector. As these changes take effect, employees can look forward to a more rewarding and supportive work environment.
