Human resources and equality

Several complex projects were on the human resources agenda in 2023, most notably the removal of over six hundred employees to new headquarters at Reykjastræti 6, the annual employee conference in September and implementation of a new HR policy.

The Policy is based on work sessions with employees that aimed at clarifying what an attractive workplace is, the corporate culture Landsbankinn wishes to maintain, how to foster employee welfare and a good work environment.

The Policy is based on three pillars: culture, environment and welfare. Alongside the new Policy, an action plan was presented for all projects that are intended to support individual aspects of the Policy and how we measure success.

Culture

Job development and training

In 2023, the majority of the Bank’s employees moved to its new headquarters at Reykjastræti 6, finally joining forces under one roof after having worked out of various locations in Reykjavík for decades. Emphasis was placed on cultivating a positive corporate culture that can change when such a large step is taken. We took advantage of this opportunity to shape the Bank's common culture under one roof by publishing the Banks purpose for the first time: trusted banking for the future. Corporate culture is constantly evolving and the work environment is a large and important influence on both culture and success. We are all jointly responsible for shaping a sound and engaging workplace and, through effective instruction and training, we have the opportunity to affect our corporate culture.

Our focus was placed on instruction and training that supports welfare and well-being, both physical and psychological. The aim was to create a work environment where employees felt good, that supports development, success and personal growth as well as a balance between personal and professional life.

Employees were as in previous years offered access to numerous job-related courses aimed at deepening professional abilities, such as security courses and a course to renew securities brokerage licences. Building knowledge about sustainability was front and centre in 2023, such as on the circular economy, on biodiversity and PBAF.

A successful annual employee conference was held in September and included several educational events aimed to support the Bank’s strategy and purpose. The event was a good blend of training and relaxation that contributed to an even more tightly knit team.

A robust management training programme began in 2023. The main emphasis of the programme, which extends throughout 2024, is on enhancing management skills and on equality, inclusion and diversity.

Satisfaction and success

The Bank’s HR Policy is under constant development and is reviewed based on ideas and input from employees. Lively social activity is emphasised at the Bank. Regular analysis and interviews are carried out to measure employee satisfaction, provide feedback and evaluate success. The results are used to improve training and instruction, shape a dynamic and healthy corporate culture and sharpen the hiring process.

Job satisfaction and other aspects of the work environment are measured in four annual surveys. This year's survey results have been good and overall satisfaction and dedication has increased. One measurement of employee satisfaction is whether employees would recommend the workplace as a fantastic place to work and 88% of employees agreed strongly or somewhat with the assertion. The four surveys each have a specific focus. If further analysis is considered necessary, it is carried out through interviews with groups or shorter additional surveys. Employee participation in the surveys is good, generally around 85%.

Environment

We are focused on ensuring effective and successful operations and aim to ensure mutual flexibility that enables a balance between work and private life. All facilities should be optimal and we take advantage of smart solutions that allow employees to use various workstations.

The move to our new headquarters at Reykjastræti 6 began in spring 2023. The move went well and there were no operational disruptions as the move was well prepared. All employees who moved from offices in Kvosin and Borgartún to the new headquarters had participated in work sessions about the move, work relations in the new project-based work environment and the opportunities the new workplace affords. In the project-based work environment at Reykjastræti 6, employees select a workstation that best suits their tasks at each time. This includes remote work, as and when projects allow.

These options have been very well received by employees and surveys show that 85% of employees feel that the workplace facilitates collaboration and that they can work effectively both from home and other places.

Reykjastræti 6

The new headquarters at Reykjastræti have proved effective since it they were fully taken into use in summer of 2023. Surveys were carried out among employees in spring 2021 and again towards the end of 2023, around 6 months after the move. The results were positive and employees rate all surveyed aspects higher than in previous workplaces in Kvosin and Borgartún. In addition to surveys, special sessions have been held where employees are invited to share their opinion on both successes and room for improvement. The results of these sessions have been used to prioritise projects and make changes that are necessary to ensure a positive experience.

Overall, how well or badly does your work environment suit your duties?

Welfare

Health-promoting workplace

We are focused on helping our employees promote both physical and psychological health through various means. Health promotion in the workplace is a common and on-going aim of both employees and employer. The Bank offers healthy food, gym facilities and aims to maintain a healthy work environment. Employees are offered an annual health assessment and good access to healthcare professionals.

Diversity and equality

Equality has long been emphasised at the Bank and work is based on a clear equal rights policy and plan. At Landsbankinn, all individuals are given equal opportunities for job development and their worth measured individually. Discrimination based on gender, race, sexual orientation, religion or nationality is never tolerated. The Bank has attained equal pay certification since early 2019. Landsbankinn aims to close the wage gap as nearly as possible at 0%, taking care that it never exceeds 2.5% in either direction. The gendered wage gap was 1.1-1.8% in 2023. Revision of the equality policy began in 2023 to ensure that it aligns with modern development and reflects the workplace.

Equality in internal and external communication

Over the past couple of years, we have systematically registered who represents the Bank in the media, in conferences and meetings outside the Bank. We also register authors of articles published on our website. This has proven a good guide for us. The gender ratio of people representing the Bank has been fairly balanced in the past few years but favoured women slightly in recent years. In the long term, we aim to maintain a good balance.

Clear response plan

We have a clear response plan for bullying, gender-based discrimination, sexual harassment and violence (EKKO). All employees receive regular education on the subject and workshops are held for managers. Regular information sharing and education has raised awareness on the subject at all levels and professional handling of issues has been ensured. Employees can speak to an independent external party if sensitive matters arise. We measure the frequency of incidents, experience and notifications as part of the annual workplace audit. Information is regularly shared on the Bank’s communication channels.