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8/6/2019 Session 8.1 How to Put in Place a Worldwide Free Share Plan for 110,000 Employees
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How to put in place aworldwide free share plan
for 110,000 employees
Frank PotardGlobal Head Comp&Ben, AXA
AXA MilesMaking every employee a shareholder
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AXA conquers the world
AXA consolidates andprofessionalizes
2001 - 20041992 2000
Sell off non-core business
AXA Way/six -sigma to encourageconsistency and reduction of costs
Launch of international platforms
Selected external growth
Additional focus on organic growthmaximizing value
2012 goal to become the Preferredcompanyamong stakeholders
2005 2012 (And Beyond)
AXA sets a globalcustomer centered vision
Rapid external growth
Many large international and smalleracquisitions
Become No1 in France throughacquisition of UAP in 1997
Ambition 2012
Becoming the Preferred Company
To gain the preference, we need to stand outfrom the crowd in these three areas
The third is an outcome of the first two
For ClientsCustomer
Centricity
For EmployeesMutual
Commitments
For Shareholders Value Creation
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Objectives
Celebrate our progress towards Ambition 2012
Foster our collective confidence in the future
Further engage every employee in the 2012 company journey
Contribute to answer the Whats in it for me ? question
Connect with Passport 2012 and the Employee Value Proposition
Global, simple and symbolic scheme, in addition to existingremuneration packages
Seek to create a significant employer brand differentiation, by makingevery employee a shareholder
We are all part of the journey.
Everybody is a sailor, nobody is a passenger
Becoming a Preferred Employer
Although separate, the two programs dovetail seamlessly with one another
Both of them are serving Ambition 2012 and helping make AXA a preferredemployer
While Passport 2012 focuses on how individual contributions are linked to ourcollective performance, the AXA Miles program provides every individualemployee with an opportunity to benefitfrom our collectivesuccess
Passport 2012
Gett ing each member of staff on board for
the shared journey towards 2012 means thateveryone must understand their role withinAmbition 2012 and must be able to see howtheir own contributions are linked to
progress made by AXA.Passport 2012 provides an opportunity tostrengthen the two-way relationship betweeneach employee and the company, and tosatisfy mutual expectations.
AXA Miles
The AXA Miles program aims to meet twogoals:
- Celebrating the progress made byAXA
- Symbolizing our collective confidence inthe future
By making every employee a shareholder
Employee Value Proposition
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AXA Miles program 2007
Award date : July 1st, 2007
Individual award : 50 AXA Miles
2+2 Plan :
2-yearacquisition period : July 1st, 2007 July 1st, 2009 Conversion of 50AXAMiles into 50AXA shares : July 1st, 2009
2-yearrestriction period : July 1st, 2009 July 1st, 2011
24 countries : Algeria, Bahrain, Cameroon, Czech Republic, France, Greece,Hungary, India, Indonesia, Italy, Ivory Coast, Morocco, Oman, Panama,Poland, Portugal, Qatar, Saudi Arabia, Singapore, Slovakia, Spain,Switzerland, Turkey, UAE
4+0 Plan :
4-yearacquisition period : July 1st, 2007 July 1st, 2011 Conversion of 50AXAMiles into 50AXA shares : July 1st, 2011
No restriction period
Other 30 countries
AXA Miles program 2007
Award Conversion
July 1st, 2007 July 1st, 2009
Acquisition period
July 1st, 2007
2+2
Plan
4+0
Plan
July 1st, 2011
Award Conversion
Restriction periodAcquisition period
July 1st, 2011
50
AXA Miles
50
AXA Shares
50
AXA Miles
50
AXA Shares
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Rules in case of departure
During the acquisition period :
Death or permanent disability : AXA Miles convert immediately to AXA shares
which can be freely disposed
Retirement : AXA Miles are maintained and convert to AXA shares at the end
of the acquisition period. The restriction period (in case of a 2+2 plan) applies.
Any other reason (resignation, termination, divestiture) : AXA Miles are lost
During the restriction period (in case of a 2+2 plan) :
Death or permanent disability : AXA shares can be freely disposed
Any other reason : AXA shares cannot be disposed before the end of the
restriction period
Communication plan
MARCH
JU
NE
June: global communications campaign targeting all employees
Local communication based on communications tools provided by Group HRandGroup InternalCommunications
1. Communications kit : sent to HR and communications professionals andpublishedon the ComWeb and Global HR Network
2. DVD pack with 2 films, 2 explanatory leaflets and 1 toolbox containinggraphics:sent out to HR andcommunications managers
JULY
NOV.
November: individual communication to eligible employees
AXA Miles award certifi cate sent to each eligible employee
May 14, 2007 : AXA annual Shareholders meeting
Group communications confirms shareholder approval
Information published online: axa.com / ComWeb / Global HRNetwork
Information relayed within companies
July 1, 2007: award of AXA Miles
Global Group communications relayed by companies Information published: ComWeb / Global HR Network
March 27, 2007 : CEO letter to all employees
AXA Miles concept, subject to shareholder approval
MAY
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Results
AXA Miles database
In accordance with applicable French legislation, the award of AXA Miles to aBeneficiary is subject to an individual grant by the Management Board of theCompany
It was therefore necessary to identify each beneficiary and create a global AXAMiles database
Group HR and AXA Group Solutions have been designing a simple reportingtool (Excel)
Companies have been requested to submit by end of July 2007 the list of their
eligible employees as at July 1st, 2007
Lists have been checked and consolidated during August/September
The final list of beneficiaries has been closed on September 17 th, 2007
Individual AXA Miles award certificates (Boarding Pass) have been issued andsent out on November 7th 2007
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AXA Miles boarding pass
Jean DUPONT
AXA France
AXA Miles program 2009
IfAXA meets the following objectives by the end of 2008 :
Underlying earnings per share : 2.41 (1.91 in 2006)
Customer scope index : 82 (79 in 2006)
a new AXA Miles program will be launched in 2009 :
Grant date : July 1, 2009
Individual award : 50 AXA Miles
AXA did not meet these objectives in 2008
Actual underlying earnings per share : 1.83
Customer scope index : 81.7
No new grant of AXA Miles in 2009
AXA Miles program in 2011, based on 2010 objectives
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Thank you