TITAN has a long and steady employment and human resources policy reflecting its corporate values and guided by certain principles and standards. Believing that its employees are the most valuable asset to achieve business objectives and sustainable growth, TITAN considers their health and safety at work and their well-being as a top Company priority.

The TITAN Group employees are in majority full-time direct employees who can be divided to (a) management employees, (b) supervisory and professional employees and (c) operational employees. Indirect employees are those providing their services contracted by TITAN suppliers and contractors.

In 2009 TITAN’s full-time employees were a total of 5,903 approximately 600 less than at the end of 2008, a total reduction of 9.2% caused by the continuing economic recession. Accordingly, the number of indirect employees decreased approximately by 35% in 2009 compared to 2008. The majority of indirect employees serves in activities like quarrying, transportation and maintenance and construction projects like the new production line in Egypt and the new cement plant in Albania. The TITAN Group policy provides opportunities for local employment either directly or indirectly through skills and competencies developing programs as in the case of TITAN in Albania. Aligned with this employment policy is the effort undertaken for hiring new engineers to operate the new kiln in Beni Suef, Egypt. The hiring process was prolonged to provide opportunities for more than 100 local candidates to participate in the process. Participation of women in total employment at Group level reached 13%, in 2009, slightly increased from previous years.

Turnover and absenteeism

Employee turnover has increased compared to 2008 due to reductions in employment as presented in the relevant table. TITAN follows a policy of long-term stability, the 2009 employee turnover ratio differs significantly from country to country for example in Bulgaria was 29.63% in 2009 while in Serbia 2.04%. In FYROM, employee turnover ratio with retirements was 34.83%. No significant changes have been reported in the rate of absenteeism compared to 2008. A total of approximately 1,000 working days were lost due to accidents, while another 38 working days were lost in Usje, FYROM due to a 2 hours stoppage of operations.

Responsible employment restructuring

The economic crisis has strongly affected all TITAN operations apart from Egypt. While trying to find effective solutions which would ensure the sustainability of the majority of jobs and safeguard the social well fare of all involved inevitably there are job loses which were addressed within the framework of legal provisions and TITAN’s CSR practices for responsible restructuring. TITAN has demonstrated its responsibility by trying to take special care of employees, either by equipping them to deal with new demands or by ensuring a transparent and fair process when staff reductions become unavoidable. Reductions in employment were carried out as follows:

• No planned overtime work
• No new hiring’s and no replacements for employees who have retired 
• Voluntary early leave plans for those close to retirement 
• Programs to support self-employment and cooperation on a contract basis 
• Additional social support and compensation beyond legal obligations

More than 60% of total employment reductions at Group lever were made through retirement and voluntary early-leave plans.

Employee compensation and welfare programs

In all countries where the TITAN Group ope-rates, wages and employee welfare programs meet as a minimum the provisions of labor law and collective agreements. Employee compensation beyond legal provisions is based on individual performance conducted through annual performance appraisals. Additional short and long-term benefits include among else:

• Health and medical expenses and support
• Employee aid programs supporting children’s education, loans, productivity bonus and additional overtime-work compensation, 
• Free transportation 
• Recreational activities and social support by experts