In early 2023, Barabino & Partners announced and provided a recognition of €1,500 net for all employees, collaborators, and trainees (or a portion thereof based on their presence in 2022), as evidence of trust in their commitment, but also to reward the collective merit of the strong culture of sharing that has characterized the company’s recent seasons.
Added to this was the “Smiling Energy” contribution, which, as of December 31, 2022, was an initiative aimed at combating the high cost of energy, with an additional recognition of €400 net for all employees or trainees who could benefit from it based on self-declarations proving “bill costs.”
These initiatives were joined by the traditional “Best Employees of the Year 2022,” which is now in its fifth edition and rewards the two “resources of the year” (or more) among the professional/special unit and staff, through online voting, which is strictly anonymous among the employees themselves.
Four recognitions in 12 months
These initiatives are not new to the company, as the “Welfare Plan” adds to other similar initiatives provided in the last 12 months.
In summary, there were four recognitions provided to a broad audience (the latest of which was 100% of the B&P SpA audience, while others were an average of about 70%, excluding only those involved in result-sharing plans), including a recognition so original and innovative called “Recognition of the Future” that it has become a case study in Italian labor law and has received a “Labour LegalCommunity Award:
- Recognition Sharing 2021 as of January 31, 2022;
- Recognition of the Future as of May 15, 2022;
- Smiling Energy Contribution (“Bill Bonus”) as of December 31, 2022;
- Welfare Plan/Stability Recognition as of January 31, 2023.
In addition to the above, as previously mentioned, the traditional Best Employee of the Year 2022 was also provided on a personal basis.
These initiatives occur exclusively within B&P SpA. In fact, controlled foreign companies – B&P Usa LLC, B&P Uk Plc, and B&P Deutschland Gmbh – have implemented similar initiatives based on the labor law rules of individual countries.
In particular, at the beginning of 2022, the “Recognition Sharing,” with an average value of €2,500 gross, was followed in May 2022 by the unprecedented “Recognition of the Future“: as mentioned, a unique initiative in Italy in the field of evolution and innovative interpretation of labor law, aimed at rewarding resources not for the results already achieved but for their prospective commitment.
Both involved an audience of over 70%, except those involved in the management result, of the resources of B&P SpA (and likewise for B&P’s foreign subsidiaries).
The “Recognition of the Future,” in particular, involved resources that received an economic contribution in the Welfare Plan on the “B&P Welfare Portal” created specifically, an amount between €1,000 and €2,000 (or a portion thereof) net based on position and tiers and depending on the timing of their incorporation into the company.
The reasons for an extraordinary season
The recognitions implemented in Barabino & Partners, as well as the creation of a B&P Welfare Portal, are particularly significant when compared to the relatively small size of the company, resulting in an increase in overall labor costs of around 7% on an annual basis. However, they reflect the company’s strategic choice based on purpose and “just profit” policies that identify Barabino & Partners’ fundamental values.
This choice is also reflected in the unanimous decision of the shareholders’ meeting, which has also transformed into a benefit corporation over the course of 2022.