The labour market in the Financial Industry (2014 report)


Compensation and labour costs in the Italian & European banking sector

 

Curatori: Giancarlo Durante, Luigi Prosperetti

Editore
Bancaria Editrice
Anno
2015
Pagine
130
ISBN
978-88-449-1043-3
Disponibilità
Disponibile
Prezzo di copertina€ 30,00
Prezzo Internet Sconto 5% € 28,50
IVA assolta dall'editore

The 2014 Italian Banking Association (ABI) Report on the Labour Market in the Financial Industry supplies a broad picture of the competitive position of the Italian banking system, through examination of numerous sets of data referring to human resources, their management and their cost.
  
In addition to the normal updates and reviews of the national and international comparisons, the Report provides an in-depth breakdown of the salient aspects of the compensation systems for Italy’s main European partners and their labour costs and business productivity.
  
A specific focus is given to employment in Europe, with details about the characteristics of personnel employed in Italian banking sector, including from the perspective of differences by gender. The Report also concentrates on the issue of utilizing older banking personnel, namely, strengthening the capacity of these workers within banks, including through adjustment of the workers’ professional skills to the new needs of the market. It analyzes as well the initiatives in relation to the "Youth Guarantee", an EU project aimed at countering unemployment among young people. From the perspective of labour law, the Report examines the main aspects of the recent law containing "urgent provisions to favour the relaunch of employment and the simplification of compliance matters on the part of businesses", and the legislative bill known as the "Jobs Act". Finally, it takes a look at the sweeping restructuring processes taking place within European banking organizations, with explicit reference to their impact on the labour factor.
  
This Report has been realized by Giancarlo Durante (project head and co-ordinator), Luigi Prosperetti (scientific consultant) and a working group consisting of representatives from the following offices of the Italian Banking Association: Wage Systems and Dynamics, Labour Legislation, Social and Trade-union issues, Economic and Management Analysis, and the European Banking Report (EBR) Observatory.

Introduction
PART I: EMPLOYMENT, WAGES AND LABOUR COSTS IN THE FINANCIAL SECTOR
1. The status of labour in the Italian banking sector
1.1 Framework of reference  
1.2 Criticalities in the personnel structure  
1.3 Charges related to labour cost  
2. Employment
2.1 Employment in Europe 
2.2 Employment by contract type 
2.3 Personnel in the Italian credit sector  
2.4 Employment by gender in Italian banks 
3. Wages and labour costs in Italian banks
4. Labour and external competitiveness: a look at the whole picture
4.1 Unit labour cost  
4.2 Labour cost in relation to total banking income  
4.3 Cost structure  
4.4 Labour cost in relation to operating expenses  
4.5 Cost structure and profitability  
4.6 Regional banks  
4.7 Conclusions
5. Labour and external competitiveness: wages and labour costs for specific job positions
5.1 Wages and labour costs for certain professional positions  
5.1.1 Positions related to professional areas  
5.1.2 1st and 2nd level managers and senior managers  
5.2 Conclusions
6. Ageing policies and the Youth Guarantee
6.1 Staff over the age of 55 in Italian banks  
6.2 Generational solidarity  
6.3 Youth Guarantee: objectives
6.3.1 European Social and Economic Committee 
6.3.2 Youth Guarantee in Italy 
6.3.2.1 National Implementation Plan 
6.3.3 Italian Banking Association-Labour Ministry protocol
PART II: LABOUR MARKET REGULATIONS
7. New developments in the Italian labour market
7.1 Law no. 78 of 16 May 2014  
7.1.1 Fixed-term contract 
7.1.2 Provision of labour through temporary employment agencies 
7.1.3 Apprenticeships 
7.2 The bill for law enacted under delegated power (Jobs Act)
7.2.1 Social safety nets
7.2.2 Job services and active policies 
7.2.3 Simplification of procedures and compliance 
7.2.4 Re-ordering of the types of contracts 
7.2.5 Maternity and balancing career and personal life
7.3 2015 Stability Law
8. Italian Credit Sector Solidarity Fund
8.1 Interministerial decree no. 83486 of 28 July 2014 
8.2 Credit Sector Solidarity Fund: recipients of extraordinary allowance
PART III: INNOVATION, RESTRUCTURING AND ORGANIZATIONAL CHANGES: A EUROPEAN FOCUS
9. The restructuring of European banks
9.1 Reductions in European banks’ branch networks, 2008-2013 
9.2 Key developments in the main European countries
9.2.1 General reductions in cost-income ratios 
9.2.2 Wages 
9.3 Probable medium-term trends 
9.3.1 Banking services, networks, digitalization 
9.3.2 Skills required 
9.4 Conclusions
Concluding Remarks
Methodological Appendix
References



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