AXA Group Human Capital Social Data Report

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1 AXA Group Human Capital Social Data Report 2013

2 CONTENT I. MESSAGE FROM GEORGE STANSFIELD 1 Head of Group Human Resources & Group General Counsel II. AXA AT A GLANCE 3 III. HEADCOUNT AND PROFILE OF EMPLOYEES 7 A. Focus on AXA UK & Ireland 14 IV. WORKFORCE DYNAMICS 16 SOCIAL DATA REPORT 2013 SECTION I B. Focus on AXA Investment Managers 24 V. COMPENSATION 26 C. Focus on AXA Life Japan 30 VI. LEARNING & DEVELOPMENT 32 D. Focus on AXA France 40 VII. WORKING TIME & ABSENTEEISM 42 E. Focus on AXA US 50 VIII. EMPLOYEE RELATIONS 52 F. Focus on AXA Northern, Central & Eastern Europe 56 IX. DIVERSITY & INCLUSION 58 G. Focus on AXA MedLA 60 Message from George Stansfield X. SOCIETAL RESPONSIBILITY 62 H. Focus on AXA Asia 68 XI. APPENDIX 70 I. About Social Data Reporting J. Information on the Company K. List of entities in consolidation L. Exchange rate information M. Process information, Reporting certification & Ratings N. Notes O. Find out more Head of Group Human Resources & Group General Counsel

3 MESSAGE FROM GEORGE STANSFIELD SOCIAL DATA REPORT 2013 SECTION II We are in a people business. We compete in the world of ideas, innovation and service. The difference between surviving and winning is the difference between having good people and having really top-rate people in terms of leadership skills, management skills and technical expertise. In our industry, we compete largely on the basis of ideas and service. In this context, people are the key differentiator and the difference between surviving and winning is often the difference between having good people and having really toprate people technical experts, managers and leaders. At AXA we spend a great deal of time focusing on the development of our people with a view to developing the outstanding technical experts, managers and leaders that will give us the edge for tomorrow and ensure the Group s sustainable success over the long term. Our collective Ambition AXA objective is to become the preferred company in our industry and to build a distinctive culture of trust and achievement. The engagement and commitment of our employees all around the world is essential to reach this goal. In HR, our job is all about our people and we focus our global efforts and initiatives around three essential missions: 1/ Attracting top-rate talent in all the various countries where we do business so that we are prepared to face challenges of today and tomorrow; 2/ Developing our people on a continuing basis to ensure that we have the technical expertise, management competencies and leadership skills that we need to outperform in a highly competitive and rapidly evolving environment; and 3/ Retaining our people over the long-term by empowering and engaging them in the context of an open, inclusive and collaborative work environment, supported by an aligned system of rewards and incentives All of this needs to be driven by a results-oriented, efficient, and modern global HR organization that provides proactive client service and plays a strategic advisory role for our businesses around the world. Our focus on attracting, retaining and developing our people and the need for HR to play a proactive strategic advisory role become even more critical in the context of the digital revolution which will bring to us both opportunities and risks. The quality of our people and the culture we build together will be the key to our ability to seize these opportunities and to manage these risks. This 2013 Social Data Report provides us with factbased insights into our global employee population, the areas where we have made real progress and the areas where we need to continue to focus on over the coming years in order to achieve our Ambition AXA objectives and shape our workforce and culture for the future. George Stansfield AXA at a Glance 02

4 AXA AT A GLANCE AXA AT A GLANCE Headcount Headcount of salaried workforce 17,576 headcount (12,836 salaried workforce & 4,740 exclusive distributors*) AXA s presence EUROPE 95,163 headcount (73,476 salaried workforce & 21,687 exclusive distributors*) AMERICAS AFRICA ASIA PACIFIC & MIDDLE EAST 4,128 headcount (3,913 salaried workforce & 215 exclusive distributors*) Europe 65% Asia Pacific & Middle East 20% Americas 12% Africa 3% Average length of service Average age Total payroll 11.4 years 40.9 years e7,622 million Employees trained during the year 86.5% Gender parity 40,170 headcount (22,644 salaried workforce & 17,526 exclusive distributors*) 112,869 salaried workforce on open-ended and fixed-term contracts in 56 countries and 349 entities (total headcount 157,037 persons) * Source: Group Marketing & Distribution, Country* France** 23,582 23,721 United Kingdom 12,074 12,896 Germany 10,714 11,099 Japan 8,774 8,657 United States 7,227 7,646 Belgium 6,191 6,565 Switzerland 4,762 4,800 Mexico 4,374 4,465 Spain 4,297 4,417 India 3,722 3,138 Morocco 2,845 2,515 Italy 1,947 1,903 South Korea 1,867 1,598 Hong Kong 1,817 1,807 Ireland 1,396 1,381 Poland 982 1,013 Portugal 964 1,000 Philippines Ukraine Turkey Singapore Malaysia Czech Republic & Slovakia Indonesia Hungary Thailand United Arab Emirates Argentina * Sorted by number of salaried workforce with open-ended contract in ** France headcount includes French Polynesia and New Caledonia. 05

5 AXA AT A GLANCE Headcount of salaried workforce SOCIAL DATA REPORT 2013 SECTION III Country* Algeria Brazil Greece Mauritius South Africa Luxembourg Saudi Arabia China Romania Panama Lebanon Colombia Canada Bahrain Azerbaijan Taiwan Cameroon Senegal Ivory Coast Serbia Oman Gabon Australia Qatar Chile Netherlands 12 6 Sweden Austria 0 1 Headcount and Profile of employees * Sorted by number of salaried workforce with open-ended contract in

6 HEADCOUNT AND PROFILE OF EMPLOYEES HEADCOUNT AND PROFILE OF EMPLOYEES Headcount and Profile of employees GROUP OVERVIEW Workforce size AXA s overall salaried workforce on December 31, 2013, was 112,869 employees (open-ended and fixed-term contracts), which represents a slight decrease of 0.5%. The footprint of AXA s salaried workforce in 2013 was 65% in Europe (vs. 66% in 2012), 20% in Asia- Pacific (vs. 19% in 2012), 12% in the Americas (vs. 12% in 2012) and 3% in Africa (vs. 3% in 2012). AXA continued to recruit in 2013 and hired more than 16,500 employees, of which almost 4,800 were sales employees. Out of that total number of hires, nearly 400 persons were re-hires into the Company. AXA continued to recruit in 2013 and hired more than 16,500 employees on permanent contract. Pedro France Diana Mexico Headcount (number of persons) as of December Total headcount of salaried workforce (open-ended and fixed-term contract) 112, ,422 Headcount of salaried workforce (a) 108, ,362 Proportion of men 47.5% 47.7% Proportion of women 52.5% 52.3% Headcount of salaried non-sales force 93,070 93,217 Executives 3,350 3,326 Proportion of men 73.2% 73.7% Proportion of women 26.8% 26.3% Managers 15,840 15,768 Proportion of men 59.1% 59.5% Proportion of women 40.9% 40.5% Experts and staff 73,880 74,123 Proportion of men 42.8% 42.8% Proportion of women 57.2% 57.2% Headcount of salaried sales force 15,701 16,145 Proportion of men 52.3% 53.1% Proportion of women 47.7% 46.9% Profile of AXA employees Average age of salaried workforce Non-sales force Sales force Average length of service of salaried workforce Non-sales force Sales force Disability (open-ended and fixed-term contract) Number of employees with disabilities - concerns entities operating in France only

7 HEADCOUNT AND PROFILE OF EMPLOYEES HEADCOUNT AND PROFILE OF EMPLOYEES Headcount and Profile of employees Headcount and Profile of employees FOCUS ON EUROPE FOCUS ON AMERICAS Headcount (number of persons) as of December Total headcount of salaried workforce (open-ended and fixed-term contract) 73,476 75,169 Headcount of salaried workforce (a) 70,614 72,425 Proportion of men 47.4% 47.6% Proportion of women 52.6% 52.4% Headcount of salaried non-sales force 63,181 64,374 Executives 1,925 1,952 Managers 10,781 10,821 Experts and staff 50,475 51,601 Headcount of salaried sales force 7,433 8,051 Average age of salaried workforce Non-sales force Sales force Headcount of salaried workforce based on age cluster Salaried workforce aged 66 and more Salaried workforce aged from 61 to 65 1,698 1,623 Salaried workforce aged from 56 to 60 7,957 8,284 Salaried workforce aged from 51 to 55 9,148 9,076 Salaried workforce aged from 46 to 50 10,256 10,486 Salaried workforce aged from 41 to 45 10,426 10,642 Salaried workforce aged from 36 to 40 10,053 10,439 Salaried workforce aged from 31 to 35 9,463 9,701 Salaried workforce aged from 26 to 30 7,807 8,146 Salaried workforce aged 25 and less 3,677 3,981 Average length of service of salaried workforce Non-sales force Sales force Headcount (number of persons) as of December Total headcount of salaried workforce (open-ended and fixed-term contract) 12,836 13,345 Headcount of salaried workforce (a) 12,774 13,244 Proportion of men 49.8% 49.9% Proportion of women 50.2% 50.1% Headcount of salaried non-sales force 12,388 12,814 Executives Managers 2,076 2,153 Experts and staff 9,397 9,778 Headcount of salaried sales force Average age of salaried workforce Non-sales force Sales force Headcount of salaried workforce based on age cluster Salaried workforce aged 66 and more Salaried workforce aged from 61 to Salaried workforce aged from 56 to Salaried workforce aged from 51 to 55 1,112 1,145 Salaried workforce aged from 46 to 50 1,292 1,350 Salaried workforce aged from 41 to 45 1,613 1,683 Salaried workforce aged from 36 to 40 1,953 1,995 Salaried workforce aged from 31 to 35 2,292 2,327 Salaried workforce aged from 26 to 30 2,174 2,375 Salaried workforce aged 25 and less 1,217 1,215 Average length of service of salaried workforce Non-sales force Sales force

8 HEADCOUNT AND PROFILE OF EMPLOYEES HEADCOUNT AND PROFILE OF EMPLOYEES Headcount and Profile of employees Headcount and Profile of employees FOCUS ON ASIA PACIFIC & MIDDLE EAST FOCUS ON AFRICA Headcount (number of persons) as of December Total headcount of salaried workforce (open-ended and fixed-term contract) 22,644 21,454 Headcount of salaried workforce (a) 21,610 20,391 Proportion of men 47.7% 47.4% Proportion of women 52.3% 52.6% Headcount of salaried non-sales force 14,162 13,080 Executives Managers 2,582 2,421 Experts and staff 11,151 10,244 Headcount of salaried sales force 7,448 7,311 Average age of salaried workforce Non-sales force Sales force Headcount of salaried workforce based on age cluster Salaried workforce aged 66 and more 8 7 Salaried workforce aged from 61 to Salaried workforce aged from 56 to 60 1, Salaried workforce aged from 51 to 55 1,486 1,485 Salaried workforce aged from 46 to 50 2,147 1,998 Salaried workforce aged from 41 to 45 2,841 2,690 Salaried workforce aged from 36 to 40 3,585 3,421 Salaried workforce aged from 31 to 35 4,005 3,887 Salaried workforce aged from 26 to 30 3,887 3,567 Salaried workforce aged 25 and less 2,172 1,857 Average length of service of salaried workforce Non-sales force Sales force Headcount (number of persons) as of December Total headcount of salaried workforce (open-ended and fixed-term contract) 3,913 3,454 Headcount of salaried workforce (a) 3,773 3,302 Proportion of men 40.6% 41.0% Proportion of women 59.4% 59.0% Headcount of salaried non-sales force 3,339 2,949 Executives Managers Experts and staff 2,857 2,500 Headcount of salaried sales force Average age of salaried workforce Non-sales force Sales force Headcount of salaried workforce based on age cluster Salaried workforce aged 66 and more 1 1 Salaried workforce aged from 61 to Salaried workforce aged from 56 to Salaried workforce aged from 51 to Salaried workforce aged from 46 to Salaried workforce aged from 41 to Salaried workforce aged from 36 to Salaried workforce aged from 31 to Salaried workforce aged from 26 to 30 1,362 1,106 Salaried workforce aged 25 and less Average length of service of salaried workforce Non-sales force Sales force

9 FOCUS ON AXA UK & IRELAND FOCUS ON AXA UK & IRELAND A. Focus on AXA UK & Ireland Karan Hutchinson AXA UK & Ireland Human Resources Director In 2013, the AXA UK & Ireland HR teams partnered with our business leaders to facilitate change and support business results. Creating a culture of trust and achievement and building the capability of our people were at the heart of our strategy. Priorities Our focus, in 2013, was a culture of trust and achievement and helping our employees be the best that they could be. This priority saw our employee engagement score increase, while we were cited in The Sunday Times as one of the Best Big Companies to work for. Projects The year 2013 included the delivery of various large-scale projects which each had a significant impact on our business, employees and culture. Payroll was brought in-house with the implementation of MyHR Self Service, a modern and efficient PeopleSoft system. Delivering annual savings of 1.5 million per year, the system continues to enhance our employees ability to manage HR records online. After a full review and consultation, like many other organisations in the UK, we closed the final salary section of the pension scheme, enabling better management of the risks and costs of the scheme and helping ensure that we remained a robust and sustainable business. HR was at the forefront of the UK s migration to ONE. Along with process and policy information in Employee Corner, communities were created on topics such as diversity, mentoring and wellbeing in order to encourage interaction and collaboration. Culture of achievement HR s business partners played a fundamental role in enabling our entities to be more capable and efficient. For instance, they supported the closure of AXA Wealth s Bancassurance business in response to economic, regulatory and competitive environment changes and conducted a review of central functions that will lead to a 15 million reduction in costs by The result was a clearer strategic vision focussed on our commercial strengths, employee engagement and greater efficiencies. To build capabilities, AXA Commercial Lines & Personal Intermediary put even more emphasis on their talent programs. A suite of extremely successful programs was introduced to ensure targeted development for various talent pools across the business. Meanwhile, the Group Reward team proved their credentials in an external environment, when the AXA UK Car Scheme won a national award for Best Car and Travel Benefit, thanks to the flexibility of the scheme for all employees, regardless of their level or role. Trust and engagement Much was done to improve the way that new starters are recruited and inducted into the company. As well as re-launching the AXA Jobs website, an online welcome portal was introduced to allow new starters to access a wealth of information before their first day. Our recognition program, AXA Stars, was re-vamped with a contemporary and easy-to-use website, providing more flexible award amounts and linking nomination criteria to Leadership Dimensions. In 2013, over 9,000 ecards were sent, helping to foster a culture of recognition. Wellbeing was also part of continuously building trust over the year. We moved safety assessments online, trained local accident investigators and trialled new interventions for managing psychosocial absence. In summary, 2013 was a bumper year for HR initiatives and AXA UK & Ireland was a better place than ever to work

10 WORKFORCE DYNAMICS SOCIAL DATA REPORT 2013 SECTION IV Raghda, Zebunnisa, Emma and Andrea Dubai Workforce Dynamics Mobility and Recruitment AXA established mobility policy and processes across its major entities to make business needs immediately visible through global Groupwide posting of available jobs, both internally and externally, and to facilitate transfers to align resources with AXA s business priorities. In 2013, following the deployment by AXA in the United States and Germany in 2012, AXA France, AXA Banque France, AXA Headquarters in Paris, Family Protect, the Global P&C and AXA Spain launched an extension of the mobility process with the intent of fully integrating an external recruitment platform. Also in 2013, AXA redesigned its People In recruitment platform by adapting it to the changing needs of applicants and integrating it with social media (e.g., allowing use of LinkedIn, Viadeo or Xing profiles to fill out application forms and speed up application processes, leveraging social networks as well as job boards to post jobs or keep potential applicants updated of AXA news published on LinkedIn, YouTube or Twitter). International mobility remained stable, with about 600 assignments in The main objectives of international assignments remain deployment and development of key expertise and leadership skills in mature as well as developing markets. The recently-created Centre of Expertise (CEMI France April 2012) continues to provide support and expertise to 75% of AXA employees on international assignment within the Group. The CEMI is looking to increase its scope to include other regions in In 2013, revised international mobility policies were launched and rolled out globally. The aim was to segment the policy to reinforce the purpose of different types of international assignments for both the individual and the business as well as provide more tailored support to each type of assignment. In addition, throughout the year, AXA Group International Mobility invited about 50 partners/ spouses of assignees, located in Paris, to participate in the International Dual Career Network actively, a professional network supported by 13 international companies, located in Paris. This initiative is aimed at facilitating each international employee s partner s professional development in their host location. 17

11 WORKFORCE DYNAMICS WORKFORCE DYNAMICS Workforce Dynamics Workforce Dynamics GROUP OVERVIEW GROUP OVERVIEW Movements Movements of salaried workforce Net headcount evolution (entries versus departures) -1,001-1,421 Entries 16,557 16,161 Departures 17,558 17,582 Movements of salaried non-sales force Net headcount evolution (entries versus departures) ,264 Entries 11,773 11,324 Number of external recruitments 9,787 9,432 Number of fixed-term contracts transformed into open-ended contracts 1,473 1,028 Number of re-hires in the Company Number of entries following mergers and acquisitions Departures 12,661 12,588 Number of resignations 6,628 6,630 Number of economic/collective layoffs 1,989 1,614 Number of individual layoffs 1,374 1,474 Number of retirements/pre-retirements 1,733 1,458 Number of departures due to external transfers (b) 726 1,138 Number of other departures Movements of salaried sales force Net headcount evolution (entries versus departures) Entries 4,784 4,837 Number of external recruitments 4,546 4,529 Number of fixed-term contracts transformed into open-ended contracts Number of re-hires in the Company Number of entries following mergers and acquisitions Departures 4,897 4,994 Number of resignations 3,591 3,453 Number of economic/collective layoffs Number of individual layoffs Number of retirements/pre-retirements Number of departures due to external transfers (b) Number of other departures Mobility and Employee turnover Internal mobility rate of salaried workforce 8.9% 9.1% Turnover rate of salaried workforce 15.4% 14.8% Involuntary (layoffs/dismissals) 4.0% 3.8% Voluntary (resignations) 9.4% 9.2% Other reasons (pre/retirements and miscellaneous) 2.1% 1.8% Turnover rate of salaried non-sales force 12.7% 12.3% Involuntary (layoffs/dismissals) 3.6% 3.3% Voluntary (resignations) 7.1% 7.1% Other reasons (pre/retirements and miscellaneous) 2.1% 1.9% Turnover rate of salaried sales force 30.9% 29.8% Involuntary (layoffs/dismissals) 6.0% 6.4% Voluntary (resignations) 22.9% 21.7% Other reasons (pre/retirements and miscellaneous) 2.0% 1.8% Offering mobility opportunities is part of AXA s pledge to become the preferred company for its current employees as well as displaying a more attractive work environment for those who will join the Group in the future

12 WORKFORCE DYNAMICS WORKFORCE DYNAMICS Workforce Dynamics Workforce Dynamics FOCUS ON EUROPE FOCUS ON AMERICAS Movements Net headcount evolution of salaried workforce (entries versus departures) -2,180-1,674 Entries 6,057 6,654 Number of external recruitments 4,839 5,336 Number of fixed-term contracts transformed into open-ended contracts 1, Number of re-hires in the Company Number of entries following mergers and acquisitions Departures 8,237 8,328 Number of resignations 3,107 3,453 Number of economic/collective layoffs 1, Number of individual layoffs 1,224 1,477 Number of retirements/pre-retirements 1,761 1,429 Number of departures due to external transfers (b) Number of other departures Net headcount evolution of salaried non-sales force -1,835-1,108 Entries 4,778 5,221 Departures 6,613 6,329 Net headcount evolution of salaried sales force Entries 1,279 1,433 Departures 1,624 1,999 Mobility and Employee turnover Internal mobility rate of salaried workforce 7.4% 8.2% Turnover rate of salaried workforce 10.8% 10.4% Turnover rate of salaried non-sales force 9.6% 9.0% Involuntary (layoffs/dismissals) 2.8% 2.4% Voluntary (resignations) 4.1% 4.3% Other reasons (pre/retirements and miscellaneous) 2.8% 2.4% Turnover rate of salaried sales force 21.0% 21.4% Involuntary (layoffs/dismissals) 11.6% 11.5% Voluntary (resignations) 7.0% 7.9% Other reasons (pre/retirements and miscellaneous) 2.4% 2.0% Movements Net headcount evolution of salaried workforce (entries versus departures) Entries 2,412 2,286 Number of external recruitments 2,181 2,173 Number of fixed-term contracts transformed into open-ended contracts Number of re-hires in the Company Number of entries following mergers and acquisitions 16 2 Departures 2,871 2,917 Number of resignations 1,566 1,578 Number of economic/collective layoffs Number of individual layoffs Number of retirements/pre-retirements Number of departures due to external transfers (b) Number of other departures Net headcount evolution of salaried non-sales force Entries 2,374 2,215 Departures 2,783 2,815 Net headcount evolution of salaried sales force Entries Departures Mobility and Employee turnover Internal mobility rate of salaried workforce 10.4% 10.2% Turnover rate of salaried workforce 21.5% 21.7% Turnover rate of salaried non-sales force 21.5% 21.7% Involuntary (layoffs/dismissals) 8.7% 9.3% Voluntary (resignations) 12.1% 11.6% Other reasons (pre/retirements and miscellaneous) 0.7% 0.8% Turnover rate of salaried sales force 21.9% 24.0% Involuntary (layoffs/dismissals) 6.5% 6.1% Voluntary (resignations) 15.4% 17.7% Other reasons (pre/retirements and miscellaneous) 0.0% 0.2% 20 21

13 WORKFORCE DYNAMICS WORKFORCE DYNAMICS Workforce Dynamics Workforce Dynamics FOCUS ON ASIA PACIFIC & MIDDLE EAST FOCUS ON AFRICA Movements Net headcount evolution of salaried workforce (entries versus departures) 1, Entries 7,093 6,348 Number of external recruitments 6,357 5,647 Number of fixed-term contracts transformed into open-ended contracts Number of re-hires in the Company Number of entries following mergers and acquisitions Departures 5,941 5,889 Number of resignations 5,195 4,712 Number of economic/collective layoffs Number of individual layoffs Number of retirements/pre-retirements Number of departures due to external transfers (b) Number of other departures Net headcount evolution of salaried non-sales force Entries 3,818 3,158 Departures 2,832 3,039 Net headcount evolution of salaried sales force Entries 3,275 3,190 Departures 3,109 2,850 Mobility and Employee turnover Internal mobility rate of salaried workforce 13.5% 12.3% Turnover rate of salaried workforce 27.4% 26.1% Turnover rate of salaried non-sales force 19.0% 18.4% Involuntary (layoffs/dismissals) 2.4% 2.3% Voluntary (resignations) 16.2% 15.6% Other reasons (pre/retirements and miscellaneous) 0.4% 0.4% Turnover rate of salaried sales force 42.2% 40.6% Involuntary (layoffs/dismissals) 0.4% 0.4% Voluntary (resignations) 40.1% 38.5% Other reasons (pre/retirements and miscellaneous) 1.7% 1.7% Movements Net headcount evolution of salaried workforce (entries versus departures) Entries Number of external recruitments Number of fixed-term contracts transformed into open-ended contracts Number of re-hires in the Company 4 6 Number of entries following mergers and acquisitions 0 0 Departures Number of resignations Number of economic/collective layoffs 4 63 Number of individual layoffs Number of retirements/pre-retirements Number of departures due to external transfers (b) 0 0 Number of other departures 4 1 Net headcount evolution of salaried non-sales force Entries Departures Net headcount evolution of salaried sales force Entries Departures Mobility and Employee turnover Internal mobility rate of salaried workforce 6.0% 5.8% Turnover rate of salaried workforce 13.8% 15.7% Turnover rate of salaried non-sales force 13.1% 15.7% Involuntary (layoffs/dismissals) 3.4% 2.6% Voluntary (resignations) 8.7% 11.8% Other reasons (pre/retirements and miscellaneous) 1.1% 1.4% Turnover rate of salaried sales force 19.4% 15.8% Involuntary (layoffs/dismissals) 5.1% 1.5% Voluntary (resignations) 13.2% 13.9% Other reasons (pre/retirements and miscellaneous) 1.0% 0.4% 22 23

14 FOCUS ON AXA INVESTMENT MANAGERS FOCUS ON AXA INVESTMENT MANAGERS B. Focus on AXA Investment Managers Anne-Sophie Curet AXA Investment Managers Human Resources Director Our goal is to attract, develop and retain a high-performing and diverse workforce where each person is engaged and empowered to contribute to the successful achievement of our corporate goals. Performance Ethics In 2013, the principles which guide how we assess, reward and develop employees played a key role in helping us achieve our goals. Strong performance ethics ensured that the messages and decisions related to each employee s performance were fair, consistent and congruent. The AXA IM Management Board once again carried out its annual review of the alignment between compensation proposals and performance ratings for the top 200 most highly-paid employees. At the same time, similar reviews were undertaken across the rest of the organisation. This process is just one example among examples of performance ethics in action. Diversity & Inclusion Creating a diverse and inclusive organisation that values differences for example, different nationalities, gender, education and personality traits was also critical to engaging and empowering our people. We have put the concept of unconscious bias at the centre of our diversity and inclusion strategy, not as an example of best practice, but so our people are aware of and mitigate the impact of bias when making decisions about and interacting with others. In 2013, employees were invited to participate in interactive training sessions on unconscious bias, building on the training that was provided to our senior leadership teams in 2011 and managers in Ensuring that all generations are represented in our workforce is another important aspect of building a diverse and inclusive organisation. Accordingly, in 2013, approximately 40 young graduates started their careers at AXA IM, while over 200 undertook work placements. With youth unemployment running at record highs in many countries, we can be proud that we kick-started the careers of young people from over 50 schools. Our strong ability to attract young talent is no doubt down to our ability to work across generations harmoniously. While we have a global presence in 23 countries, there are actually about three times as many nationalities represented in our workforce. Again dispelling the negative effects of unconscious bias, working with colleagues from different cultures helped to overturn stereotypes and leveraged the business benefits of different ways of thinking and working. Career Development In 2013, we looked for innovative ways to engage our employees and support their development. To that end, we launched Practice Makes Perfect, a no-cost, social learning initiative, in which employees help each other to improve their foreign language skills. We also continued to focus on employee mobility by offering a series of one day fairs focused on mobility. Career Inside is designed to help employees gain greater insights into our mobility processes and tools, help them prepare for mobility, and learn more about mobility opportunities at AXA IM. As we move into 2014, we will continue to proactively adapt our human resource policies and practices and leverage new tools, such as social media, to attract, develop, engage and retain a diverse, empowered and talented workforce in all our locations around the globe. Building an organizational culture where all employees can thrive is a collective responsibility and we are confident that everyone at AXA IM is committed to ensuring it remains a great place to work

15 COMPENSATION SOCIAL DATA REPORT 2013 SECTION V Karina Mexico Mark USA Compensation Reward, benefits and compensation expense Compensation policy AXA s compensation policy aims to attract, develop and retain best talents by ensuring that (1) pay levels are market competitive, (2) internal equity relies on differentiated individual and collective performance and (3) pay-outs are affordable and in line with company s financial results. Consequently, remuneration levels are set taking into account local market conditions along with company financial and operational results. Performance management is a key component to the overall rewards policy which fosters and recognizes individual and collective superior achievements. In 2013, total compensation cost was e7.62 billion, which corresponds to a decrease of 1.6% compared to On a comparable Foreign Exchange basis, the total compensation cost increased by 0.95%. Benefits Benefits form a significant part of AXA s broader total rewards offer. AXA s benefits approach is primarily country-driven, since employee benefit plans can vary significantly between countries due to different levels of social benefits provision and diverse tax and legal regulations. AXA s policy is to target benefits coverage at the median of the relevant market and encourage flexible benefits schemes, as this allows employees to choose the set of benefits they perceive as high-value. Performance management is a key component of the overall reward policy which fosters and recognizes individual and collective superior achievements. 27

16 COMPENSATION COMPENSATION Compensation Following the 2013 SharePlan program, AXA s employees hold 7.03% of the Company s capital and 9.10% of the voting rights. Courtney and Ornella France Benefits should include a competitive insurance coverage (the nature and type of which may vary by entity depending on local competitive and cost considerations). In all cases, local minimum requirements are respected (and generally exceeded to a large degree) for a majority of AXA employees across all geographies. SharePlan program Through its SharePlan program, the Group encourages employees to become AXA shareholders. Offered internationally for the first time in 1994, each year SharePlan gives AXA employees an opportunity to acquire shares at preferential prices. In 2013, this offer was made in 38 countries and 22,000 employees participated to the program for a total of e293 million in subscriptions. Employee shareholders represented 7.03% of the outstanding share capital and 9.10% of the voting rights as of December 31, Compensation Compensation costs of salaried workforce in Million (c) 7,622 7,744 Annual gross payroll in Million (Europe) 5,333 5,400 Proportion of fixed pay (related to wages) of salaried non-sales force 88% 88% Proportion of variable pay (related to wages) of salaried non-sales force 12% 12% Proportion of fixed pay (related to wages) of salaried sales force 67% 69% Proportion of variable pay (related to wages) of salaried sales force 33% 31% Annual gross payroll in Million (Americas) 1,348 1,357 Proportion of fixed pay (related to wages) of salaried non-sales force 62% 66% Proportion of variable pay (related to wages) of salaried non-sales force 38% 34% Proportion of fixed pay (related to wages) of salaried sales force 29% 29% Proportion of variable pay (related to wages) of salaried sales force 71% 71% Annual gross payroll in Million (Asia Pacific / Middle East) Proportion of fixed pay (related to wages) of salaried non-sales force 83% 84% Proportion of variable pay (related to wages) of salaried non-sales force 17% 16% Proportion of fixed pay (related to wages) of salaried sales force 38% 38% Proportion of variable pay (related to wages) of salaried sales force 62% 62% Annual gross payroll in Million (Africa) Proportion of fixed pay (related to wages) of salaried non-sales force 82% 82% Proportion of variable pay (related to wages) of salaried non-sales force 18% 18% Proportion of fixed pay (related to wages) of salaried sales force 69% 77% Proportion of variable pay (related to wages) of salaried sales force 31% 23% 28 29

17 FOCUS ON AXA LIFE JAPAN FOCUS ON AXA LIFE JAPAN C. Focus on AXA Life Japan Takashi Tanemura AXA Life Japan Human Resources Director In 2013 our key focus was on fostering a culture of trust and achievement. We found that the best message for ensuring employee engagement and trust was to prove our consistency, inclusiveness and integrity in creating and implementing actions. AXA Life Japan entered the Japanese market in Since then, we have grown into an organization of more than 8,000 employees with a growing market presence. Since 2010, we have gradually been creating a fundamental HR framework to make AXA a great place to work. Examples include a new grading system, focusing on meritocracy and performance, annual organizational reviews and a culture transformation governance model (Culture Council) to promote a culture of trust and achievement Priorities In 2013, our key focus was on fostering a culture of trust and achievement at all levels of the organization. Through the cross-divisional network, created at the Culture Council, and with strong sponsorship by our executive team, we implemented actions focusing on breaking silo, build to grow, building trust, employer of choice and work life balance. We found that the best message for ensuring employee engagement and trust was to prove our consistency, inclusiveness and integrity in creating and implementing these actions. One good example was to involve all employees in defining and taking action on creating a good place to work. AXA Life Japan s Scope engagement score (AXA s internal employee survey) increased to 69 points, in Considering that this was an increase of 10 points from a low of 59 just 3 years ago, I am proud to say that we are steadily heading in the right direction. Our culture transformation journey began with top management leading by example in their daily actions. This has been cascaded down all levels of the organization, with employees participating in culture workshops implemented nationwide. In 2013, the focus was on middle management, with training to ensure that they would be well-equipped to implement the performance management process. The 360 evaluation format was implemented for these managers to provide them with better opportunities for self-development and, in turn, team enhancement. Diversity and inclusion have also been priorities that we have been working on for several years past. From being one of the worst-, we have now become one of the best-rated companies in the employment of people with disabilities and we are now frequently cited as a role model. In 2013, we received an award in the workforce category of the Asia-Pacific Disability Matters Awards in recognition of our wide range of actions, particularly in ensuring the employment and empowerment of persons with hearing impairments and beyond We still have a long road ahead of us. With the aging population, mid-to-long-term workforce planning is key to the sustainability of our company. A comprehensive approach to recruitment of new graduates, creation of an environment where our senior employees are also able to give their best and further enhancement of women s roles in the workforce are critical to ensure our continuous growth. And to further strengthen the competency and capability of each individual, we need to create a stronger learning and development culture. To build the framework that enables our employees to grow further and give their best will be a main focus in the coming years. In order to achieve this, our role at HR will be both diverse and exciting to win the trust of our people and become a true strategic partner to the business! 30 31

18 LEARNING & DEVELOPMENT SOCIAL DATA REPORT 2013 SECTION VI Learning & Development Training, Learning and Development Philippe and Louis France AXA s skills development result remained high with 86.5% of its employees receiving a training course at least once during the year. At the same time, the average number of training days per employee remained stable at 3.3 days. Throughout 2013, the AXA continued to deploy a common developmental experience in all AXA entities across the world under the AXA banner. Five initiatives were deployed, set to strengthen consistency in Human Resources development at AXA and instil a strong sense of belonging to a global company. More in detail, initiatives (1) boosting technical know-how, (2) raising business acumen among non-experts to foster cross-functional collaboration and reinforce employee affiliation through a consistent on-boarding experience, (3) the enhancement of leadership development along AXA s talent pipeline, (4) better preparing leadership to have a more positive impact on the organization and drive required change and (5) aligning key management practices, thus enabling a desired culture shift. Also in 2013, Learning and Development teams played a key role in supporting AXA s commitments to innovation, digital culture and multi-access by designing and delivering programs such as AXA Digital Leaders. These programs targeted AXA s executives and aimed to create a common understanding of how emerging technologies transform AXA s business and the way customers engage with and experience the company s products. AXA is aiming to increase and spread further this understanding across the organization, in 2014, to provide even more support for its business, seizing new as well as service opportunities as fast as possible. Moreover, a corporate structure, AXA University, is entrusted with providing AXA s leaders a place to focus on Group challenges and leadership practices and values, exchange ideas and build strong networks through well targeted development and competence-building opportunities. Training programs are structured around two broad themes: AXA University, a corporate structure, is entrusted with providing AXA s leaders a place to focus on Group challenges and leadership practices through well targeted development. 33

19 LEARNING & DEVELOPMENT LEARNING & DEVELOPMENT The 2013 Dow Jones Sustainability Indices confirm AXA as one of the industry leaders in the dimensions of human capital development, with a rating 34 points above the industry average, and of talent attraction and retention, with a rating 29 points above the industry average. Mary USA Yves France Pierre-Albert France Gloria Mexico (1) professional colleges (which build specific technical skills for families of professions, such as Finance, Risk, Operational Excellence, IT, Human Resources, and Marketing) and (2) experiences dedicated to the development of the leadership capabilities of AXA s leaders. The emphasis is on driving innovation through learning and development by encouraging reflection, enabling knowledge sharing and instituting learning as a continuous process. To achieve that mandate, AXA University partners with experts both within AXA and with some of the world s leading institutions and business schools, such as Wharton, IMD, CEDEP and INSEAD. Talent attraction and retention Performance and talent management AXA conducts organization and talent review processes (OTR), which are systematic reviews of its organizational structure, challenges and key positions. The process is designed to identify the potential of key people, taking into consideration their performance and leadership behaviours. It also helps build and share a robust and solid talent pipeline to ensure the right staffing around the globe. Furthermore, OTR offers a chance to discuss career paths, development plans and prepare for the next move (including international mobility) for key people. AXA also uses this process to review its structure and people from the perspective of the Group s global business lines and their respective areas of expertise. A performance management standard has been established to ensure that the Group s performance-based pay policy and evaluation of training needs run efficiently. During 2013, 64,500 employees were already making use of AXA s PeopleSoft platform for Performance Management (38,000 employees in 2010). The Group also delivered a multidimensional performance appraisal platform, AXA 360, to all entities. A total of 1,750 executives and managers have gone through this process. An AXA leadership framework defined the skills that were expected from the Company s leaders to meet AXA s challenges and achieve its ambition. Until recently, it only concerned senior managers. During 2013, 64,500 employees were already making use of AXA s PeopleSoft platform for performance management. In 2012, it was simplified and adjusted for all AXA employees and, in 2013, it was embedded into all performance and talent management-related processes. Furthermore in 2013, a Global Banding project was initiated to identify consistent groups of employees (Bands) who have the same level of impact and competencies, to strengthen global affiliation and to accelerate a consistent way to manage and develop AXA s employees at each level across the world. Employer brand and graduates Since 2013, AXA has been deploying its employer brand via print and social media, starting in eight countries: France, Germany, the Gulf States, Indonesia, Mexico, Singapore, Switzerland and the United States. This initiative consistently partners closely with the corporate brand with a view to building a strong employer brand that will boost pride of belonging to AXA among current employees and will help to attract and retain the right talent, needed to build on the company s Ambition AXA strategy. The project will also ensure AXA s visibility on external platforms, fostering a coherent and attractive digital presence on career websites and social networks, in particular, LinkedIn. In 2013, AXA ranked 71 st in the Universum s Global Top 100 most attractive employers among business students and 1 st among insurance companies

20 LEARNING & DEVELOPMENT LEARNING & DEVELOPMENT Learning & Development GROUP OVERVIEW In 2013, AXA ranked 71 st in the Universum s Global Top 100 most attractive employers among business students and 1 st among insurance companies. Francine France Daniel Mexico Alanna USA Furthermore in 2013, 115 high-potential graduates were recruited worldwide on graduate programs. Since 2012, AXA has successfully implemented the AXA Global Graduate Program; recruiting graduates in risk management, actuarial and finance departments, where there has been an ongoing business need to recruit. The objective of the program is to attract and retain high-potential talent and support them in order to gain the skills necessary to become AXA s future leaders. In 2013, following 2 months of targeted communication in selected schools and universities in Asia and Europe, 855 applications were received (vs. 320, in 2012). The 24 to 30 months program offers graduates a local, permanent contract, a high-quality induction program, including a business acceleration conference at AXA s international headquarters in Paris, and the opportunity to have one international rotation in another AXA entity, with the aim for graduates to return to their original entities, following their assignments overseas. In 2014, several existing actuarial programs in Asia and Europe are now also aiming to align with this Global Program. Learning & Development Number of training days of salaried workforce (d) 341, ,179.1 Percentage of salaried workforce having received at least one training course 86.5% 83.2% Average number of training days per salaried workforce Total number of training days of salaried non-sales force 227, ,467.6 Proportion of Leadership, management and culture trainings 16.2% 15.6% Proportion of Technical Excellence trainings 58.3% 51.4% Proportion of Transversal skills trainings 25.6% 33.1% Percentage of salaried non-sales force having received at least one training course 84.7% 80.8% Average number of training days per salaried non-sales force Total number of training days of salaried sales force (d) 114, ,711.5 Proportion of Leadership, management and culture trainings 2.7% 3.4% Proportion of Technical Excellence trainings 36.8% 67.6% Proportion of Transversal skills trainings 60.5% 28.9% Percentage of salaried sales force having received at least one training course 84.7% 80.8% Average number of training days per salaried sales force (d)

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