Employment in Bank Millennium Group at end of 2021 reached 6,942 FTEs, which means decrease vs end of 2020 by 550 FTEs (i.e. 7.3%). The biggest employer in the Group is Bank Millennium, with a headcount at end of 2021 of 6,598 FTEs. Bank Millennium Group subsidiaries at the end of the year were employing in total 345 FTEs, with the following three companies having highest significance: Millennium Leasing, Millennium Dom Maklerski, Millennium TFI and, the new one, Millennium Bank Hipoteczny.
Employment and staff costs
Efficiency of human resources management is an important part of Bank Millennium Group’s strategy.
The Group monitors particular staff cost items as well as the number of FTEs, for some years now pursuing a policy of stable headcount. Staff rotation is monitored and reported on an ongoing basis. Headcount and efficiency of use of resources are verified against relevant market benchmarks.
Employment in the Group
(in FTEs)
31.12.2021
31.12.2020
Change (y/y)
Number of Bank’s employees
6 598
7 164
-566
including key positions
156
159
-3
Subsidiaries
345
329
16
BM Group total
6 942
7 493
-550
Employment in the Bank
(in FTEs)
31.12.2021
31.12.2020
Change (y/y)
Branches and direct sales
4 213
4 572
-359
Head Office
2 385
2 592
-207
Total Bank Millennium
6 598
7 164
-566
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 reduced employment in all areas as a result of continuing employment optimization after the merger with Euro Bank.
Employment in the Bank
(in FTEs)
31.12.2021
31.12.2020
Change (y/y)
Direct Banking
704
738
-34
Digital
645
652
-7
Retail and corporate banking
3 509
3 834
-325
Support units
1 740
1 940
-199
Total Bank Millennium
6 598
7 164
-566
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 organization’s tasks. Also remuneration information presented in surveys of salaries on the financial market is analysed.
The total level of staff costs in Bank Millennium Group in 2021 and in the previous year was as follows:
Staff costs
(in PLN million)
2021
2020
Change (y/y)
Bank Millennium
768.8
813.8
-5.5%
Subsidiaries
47.4
42.5
11.4%
Total Bank Millennium Group
816.2
856.3
-4.7%