Numbers and social policy

Composition of the workforce, social policy, consultation with the Employees' Council and pension fund.

Social policy

During 2010, absenteeism fell 0.4% from 4.1% in 2009 to 3.7% in 2010, which decline is in line with the benchmark.

Consultation with the Employees’ Council

A variety of subjects were discussed with the new Employees’ Council in the year under review. Many requests for a formal opinion or consent were discussed, and thoughts were exchanged about the Resumption of Work (Partially Fit Persons) Regulation (WGA), the own risk bearer status in incapacity for work insurance, the variable pay policy and performance management. Furthermore, the Employees’ Council carried out an independent survey on experiences with the 360 degrees feedback system. The majority of staff gave their opinion and believes open and honest feedback was given.

Pension fund

Van Lanschot has its own pension fund for the administration of the pension schemes. In the reporting year, attention was mostly paid to the development of the coverage ratio. Early in 2010 there was not yet a funding deficit, but this has been the case since April 2010. Initially, this was more due to unfavourable interest trends than to investment returns. At year-end 2010, the deficit still existed. Thanks to the execution of the recovery plan, under which Van Lanschot made an additional contribution, the coverage ratio was 102.1% at 31 December 2010. At the end of 2011, it will be examined whether the coverage ratio is at the required level (105%) or whether another additional contribution is required.

For more information please go to www.vanlanschot.nl/mvo for our Dutch-language 2010 Corporate Social Responsibility Report.