Salary policy - Fabege

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Salary policy

Both managers and employees shall be aware of Fabege’s salary policy and the basis for salary-setting. Regardless of gender, age, and sexual orientation, or ethnic or religious background, the salary should be linked to the individual's performance and accomplishments. Se also Fabege’s gender equality policy.

Wage-setting

Salary-setting and salary growth are based on centrally agreed collective agreements and in relation to Fabege’s need for employees, as well as the company’s financial development.

Salaries are set at the time of employment and during the salary review, based on the education and skills of the employee. New employment is the only time when salary is paid in advance based on previous qualifications and experience and expected results. Otherwise, salaries are based on actual work performed and results achieved.

Fabege applies individual salary-setting as an instrument to ensure that the business develops towards its objectives, and that this occurs through personal and professional development of the employees. Salaries are set based on systematic assessments of the difficulty of the tasks performed, work results of the employee and the contribution to improvements in the business.

A prerequisite for individual salary-setting is that the annual performance review must be conducted as a basis for salary-setting. The performance review has a forward-looking perspective in which salary criteria are linked to both individual goals and the goals of the business.

The accomplishments of the employee are assessed at the annual salary review, based on the salary criteria of the business. The salary criteria do not include normal accomplishments, such as doing the job, following orders and work environment rules, cooperating and being loyal.

Salary criteria

All employees are assessed annually based on the following salary criteria:

  • Agreed results and objectives.
  • Conduct – our core values, known internally as SPEAK, which encompass Fast, Informal, Entrepreneurial, Business-minded and Customer-focused.
  • Ability to nurture and develop customer relationships.
  • Initiative and the ability to convert ideas into activities.
  • Ability to be supportive and contribute to a good working climate and work across borders.

Responsibilities

Managers are responsible for setting the salary of their employees. At the time a new employee is hired or at the salary review, Fabege applies the “Grandfather principle”, which means that the responsible manager consults with the superior manager before reaching an agreement on the new salary of the employee.

The manager is responsible for conveying clear frameworks and objectives, as well as for conducting ongoing follow-up and providing feedback in relation to the personal objectives. This creates the conditions that ensure that the business develops to achieve its goals.

Factors that impact salary-setting

Follow-up and implementation

The content of this policy is revised and updated as needed by the company’s Group Management. All managers with personnel responsibility are charged with ensuring that this policy is known and complied with, in their specific department/sphere of responsibility. All employees have access to all Fabege policy documents through the company’s intranet.

Stockholm, 10 Januari 2020
Stefan Dahlbo, CEO

Download our salary policy

Changed 13 January 2020

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Code of Conduct

The Code of Conduct presents our view on issues related to human rights, labour practices, the environment, business ethics and communication.

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Whistleblower function

The Fabege whistleblower function is intended for reporting serious irregularities.

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