Sea Port of Saint-Petersburg undertakes indexation of wages
AO Sea Port of Saint-Petersburg (SP SPb, a company of UCL Holding) says it has undertaken wage indexation from July 2018. Each employee’s wage premium is RUB 8,000 now, which is 7.3% higher as compared with the wage premium approved in July 2017.
The company undertakes wage indexation once a year to support its employees in the changing economic situation taking into account the rate of inflation. Last year, inflation rate in Saint-Petersburg was as high as 2.6%. The wage premium is the same for all categories of employees and does not depend on the performance of individuals or the company as a whole which is specified by the company’s Regulations on Raising Actual Wages of Employees.
The size of the premium is calculated basing on the data provided by the regional office of the Federal State Statistics Service of Saint-Petersburg and the Leningrad Region. It depends on the cost of consumer goods basket and consumer price index in the region over the previous year.
With its exclusively social function the wage premium is not meant as an incentive for employees. Apart from it, the increase of SP SPb employees’ wages is ensured by incentive payment system. From 2015, the wages of dock engineers and traffic control personnel have been calculated taking into account work productivity of individuals, their departments and the company as a whole. From 1 April 2018, the new system basing on the contribution of individuals and the teams has been applied to calculate wages of engineering personnel and mechanical technicians.
With the new incentive pay scheme the efficiency of operations at the berths has improved and the dead time has reduced allowing for the growth of wages. In 2017, average wage grew by 5.9%, year-on-year, to RUB 66,300. In the future, the incentive system will cover all employees of SP SPb.
AO Sea Port of Saint-Petersburg (a company of UCL Port – stevedoring division of the International Transportation Group UCL Holding) is the largest operator, rendering services on handling of all types of dry cargoes at Big Port St. Petersburg. It operates modern multipurpose specialized terminals for handling of general and bulk cargoes and specialized terminals for ro-ro cargoes and containers. In 2017, the company handled 6.9 million tonnes of cargo.
