4 OF EVERY 10 EMPLOYEES IN SPAIN HAVE TAKEN ACTION
The last day of November was the closing date for switching to MAPFRE shares and taking advantage of the magnificent terms and conditions offered by the company and the benefits provided by Spain’s tax law. In the end, just over 4,700 employees signed up, representing around 43% of the Group’s workforce in Spain. This can be considered a success, since the average number of memberships in other companies for this type of initiative is usually around 15%.
“We expected a high level of participation,” says Elena Sanz, Group Chief People Officer, “because we have a very committed workforce, but we were very positively surprised by the registration of nearly half of the workforce in Spain, which is where the tax-related conditions were right for launching this Plan. It says a lot about the confidence we employees have in the company’s future.”
Starting in January, participating employees will begin to receive MAPFRE shares in their securities account in the amount that each of them has decided to allocate.