For Abengoa it is crucial to achieve a pleasant work environment, undergirded by a healthy relationship with employees. That is why the company provides its people with a range of social benefits in support of a good work-life balance, bolstering the commitment between company and employee, including:
Abengoa’s employee benefit scheme is managed through the Focus-Abengoa Foundation, which handles the overall management of the schemes and focuses its attention wherever the company is present and wherever most needed.
Employee benefits are applied equally among all Abengoa workers, regardless of whether they work full or part-time.
In 2010, Abengoa set in motion its flexible pay scheme for Spain-based employees. The scheme optimizes available net annual pay by allocating a part of it to purchasing products and services that the company can offer in a highly tax-efficient way. Each employee can therefore adapt his/her pay package to his/her own needs and choices.
In 2011, new products and services were added to the scheme, which now includes: residential rentals, medical insurance, restaurant cards, training, IT equipment and childcare vouchers. The more than 2 M€ of purchasing associated with the scheme garners a personal income tax saving of over 400,000 €.
Since the scheme has been such a success in Spain, in 2012 Abengoa will undertake research on the tax law prevailing in each country where it operates, with a view to extending the scheme internationally.
3 Explained in the section headed Flexible Pay Scheme in this chapter.