The Value of People and the Human Capital Strategy

The history and success of Prysmian Group is the result of the history of the people who work there and who, through their knowledge and skills, their passion and their commitment, have become the key drivers in achieving shared objectives. In the dynamic landscape of modern business, in fact, companies are continually seeking the formula for growth and success and, while cutting-edge technologies, data-driven strategies, and innovative products undeniably play crucial roles, the potential of people as human capital is a fundamental cornerstone of success.

Companies that recognize and embrace the true value of their workforce, from cultivating a thriving company culture that fosters creativity and collaboration to nurturing the growth and development of employees, often find themselves at the forefront of progress. This is why, in the past years, Prysmian continued to pursue objectives in line with its Social Ambition (launched in 2021) to increase the level of Diversity, Equity and Inclusion (DE&I) and digital inclusion within the organization, employee engagement and upskilling, and respect for human rights throughout the value chain. This is because, to the Group, the prime driver for value creation is represented by respect and safety of people and the socio-economic development of the communities in which the company operates.

The 3 pillars of Prysmian Group’s human capital strategy

In line with what is stated above, Prysmian’s human capital strategy, launched back in 2015, has focused increasingly on caring for its people and pursuing sustainability objectives. Combining social and environmental objectives is a fundamental element of Prysmian Group’s ESG identity, which promotes the transition to a fairer, more diverse, more inclusive and richer working environment, with the aim of having a positive impact on the development of the communities and societies in which it operates.

The actions and plans developed and implemented in terms of human capital strategy were greatly influenced by the Social Ambition 2030; which focuses particular attention on Diversity & Inclusion, Digital Inclusion, Local Community Involvement, Engagement & Training, and Health & Safety. In this sense, the Ambition affirms the fundamental role of the Group in the support, growth and development of its employees. In particular, the Group pursued three main positive impacts, summarized in the following pillars:

  • Human capital wellbeing, which translates in the promotion of work-life balance practices within the organization;
  • Human capital upskilling, which consists in strengthening the competences of the personnel and develop talent;
  • Human capital engagement, meaning the adoption of people-oriented policies to safeguard people’s needs;

The initiative launched by the Group in terms of human capital

In order to build upon the positive results already achieved in previous years, Prysmian reinforced a series of initiatives based on the pillars of its Human Capital Strategy, structured as follows:

  • Constant improvement and development of the organizational model, consistent with the business’ strategies and priorities;
  • Strategic planning of resources in order to ensure the compatibility of the human capital with the needs of the business in terms of competencies and skills, not least by investing in its development;
  • Development of employer branding: increase knowledge and awareness of the Prysmian brand as an employer and develop the positioning of the brand in the international job market, partly via the strategic recruitment initiatives;
  • Creation of a strong talent pipeline that ensures the sustainability of Prysmian Group’s human resources strategy;
  • Development of technical, professional and managerial skills via the training initiatives of the Prysmian Academy;
  • Meritocracy as a basic element for the development of its people to ensure long term sustainability;
  • Development of employee engagement and sense of belonging. To do so, two strategies are put in place:
    • surveying employee feedback to measure the internal climate, in order to align management and initiatives with the priorities perceived by employees;
    • sharing the value generated together with all employees via the group’s ESOPs, aimed at having at least half of the employees as shareholders, for the benefit of both the employees and the company.

In a world where technology continues to revolutionize industries at an unstoppable speed, it is paramount to remember that businesses are ultimately built on the shoulders of people, and that investing in the well-being of the workforce brings direct benefits to the employees themselves, as well as to the business, propelling it towards increased long-term success and resilience in an ever-evolving marketplace.

“A company that pays attention to the well-being of its employees is an effective, more sustainable and productive organization because, by seeking the physical, psychological and social well-being of its people, it creates the conditions for better results through motivation.”

Fabrizio Rutschmann

Chief Human Resources Officer - Prysmian Group