Employment and staff costs

Employment in Bank Millennium Group at end of 2019 reached 8,464 FTEs, which means growth vs end of 2018 by 2,332 FTEs (i.e. 38%). The biggest employer in the Group is Bank Millennium, with a headcount at end of 2019 of 8,118 FTEs. Bank Millennium Group subsidiaries at the end of the year were employing in total 347 FTEs, with the following three companies having highest significance: Millennium Leasing, Millennium Dom Maklerski and Millennium TFI.

The structure of employment in Bank Millennium demonstrates a definite majority of persons employed directly in sales of banking products and services, in particular in the network of the Bank’s branches located throughout Poland.

The Bank increased employment in the area of digital technologies as well as in customer service, service sales as well as support areas, which was related to the acquisition of Euro Bank.

Remuneration policy of Bank Millennium Group aims to assure the staff remuneration is adequate given currently performed tasks, competencies and scope of responsibility. In particular much weight is attached to proper levels of base salary. Remuneration levels are verified with consideration of periodic evaluation of performance as well as possible evolution of the level of skills employed in performance of the organisation’s tasks. Also remuneration information presented in surveys of salaries on the financial market are analysed.

The total level of staff costs in Bank Millennium Group in 2019 and in the previous year was as follows: