Sovcomflot’s employment policy

Jan 9, 2016 | | 2 comments
Sovcomflot’s employment policy

The maritime shipping profession demands strict adherence to rules for safe navigation and environmental protection. Providing high-quality services in our industry relies on the professionalism of the fleet’s naval personnel, as well as the diligence of employees in various offices. The Sovcomflot team has always been one of the Group’s competitive advantages.

PAO Sovcomflot’s employment policy centres on maintaining, strengthening and developing our talent pool. SCF Group puts particular focus on guaranteeing the social security of its team of several thousand employees.

SCF Group meticulously plans the professional development and career growth of its employees. In 2013 630 seafarers of the SCF fleet were awarded promotions, with 152 becoming senior officers, 226 named as junior officers, and 215 lower-ranking employees taking a step forward in their careers. A programme has been devised to lower the average age of the senior command staff, by promoting the most talented first officers and second engineering officers to the positions of captain and engineering officer. At the same time, the very high Retention Rate in our fleet speaks of Sovcomflot’s attractiveness as an employer. The retention rate of command staff in 2013 was 96%, and was another 2% higher for senior command staff.

Corporate pension programme
Since 2007 SCF Group has implemented a pension programme for its seafarers in partnership with Ingosstrakh-Zhizn. The company makes monthly contributions to its employees’ pension, proportionate to their length of service. Contributions from SCF Group to its employees’ pension funds total USD 1.5 million per year. The company also makes additional contributions to seafarers over 55 years of age in order to top up their personal pension account.

As soon as a participant in the programme reaches pensionable age (60 for Russian men, and 55 for Russian women), he may at any time receive access to these funds, either in their entirety or as monthly payments.

As of November 2014, 4068 employees of the SCF fleet were part of the pension programme. Since the start of the programme 141 employees have received pension payments, totalling USD 705,000.

Currently the programme is not available to sailors, engineers or stewards. These employee categories are covered by a separate pension programme, which the company implements in partnership with the Seafarers’ Union of Russia.

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