Human Resources

Developing expertise
Training in an international group engaged in complex and varied lines of business represents a fundamental issue and a major investment. Beyond technical training programs which enable employees to develop the know-how required to exercise corporate responsibilities, the group has devised a certain number of cross-division training programs to promote the sharing of best practices in the group. Thus, for example, the group organized an intensive English-language program in partnership with one of the best-known British language schools. In addition, in 2002 a cross-division management training program was prepared for the beginning of 2003. It is designed to help group managers acquire collective management values.

Evaluating performance
The creation of a common management culture also involves the introduction of consistent procedures. Performance reviews represent a key moment in relations between a worker and the employer, in which results and skills are subjected to evaluation. This is why the group has developed a system based on consistent and fair criteria that are applicable throughout the company. This approach, which is based on dialogue between hierarchical superiors and the employees in their charge, is resolutely forward-looking. A significant part of the interview is dedicated to an evaluation of skills to be developed and to the best way to achieve this goal, in particular through appropriate training. This harmonization of evaluation processes also aims to facilitate and promote mobility within the group. In 2002, the Dexia Executive Assessment of Leadership (DEAL) program was pursued. This new career management tool makes it possible to identify executive managers with high potential and to set up individual career development plans.

European Works Council
Created in 1998, the Dexia group's European Works Council is a forum for consultation and the exchange of information to foster dialogue between employees and employers at the European level on transnational economic, financial and labor questions which by reason of their strategic importance interest the different social partners in group companies. It is composed of management representatives and 28 statutory employee representatives and 20 alternates from ten Dexia entities. The Council is chaired by the Chief Executive Officer and Chairman of Dexia's Management Board.

Labor relations
The group made a significant move forward in 2002 with the adoption of Dexia's labor management principles. This agreement was signed on December 18, 2002. This initiative confirms the importance given to open and constructive social dialogue within the group.

Employee shareholding
Since 2000, the group has launched an employee shareholding plan for collaborators. Strengthen the feeling of belonging to a socially unified group, involving collaborators in the strategy and allowing them to build a wage saving at particularly advantageous conditions are the objectives of this plan.
Dexia's 2002 employee shareholding plan was a success like the two previous plans. Among the group's 25,000 employees in 25 countries, almost six out of ten chose to subscribe Dexia shares. The workforce now holds 3.5% of the capital of Dexia S.A. In 2000, the group set an objective of 5% of the capital in employees' hands by 2005.