In 2004, the Employees’ Council was active in many areas to accomplish its mission, i.e. to effectively promote
the interests of employees (the company’s most important assets) in the context of ensuring NIBCapital’s
successful development.
In the spring, the Employees’ Council received solid support in this respect from the successful initiative
aimed at recruiting new members, launched every other year. The newly consolidated Employees’ Council
discussed with management subjects vital to the further professional development of NIBCapital and,
therefor, its employees. The Employees’ Council ultimately backed these points.
The most notable of the fourteen requests submitted by the Managing Board to the Employees’ Council
in 2004 for its recommendation or approval included the development of an incentive-based, and yet fair,
job-classification system; competence- and performance-based assessment and a corresponding system of
compensation and benefits; and, most significantly, the commitment to promote further the development
of employee skills and challenges. The Individual Performance Measurement System (IPMS), which
encompasses all these systems, represents an important step towards establishing a new culture at
NIBCapital, one that is suited to an innovative Merchant Bank active in selected niche markets. In this
regard, the Employees’ Council played an active role appropriate to its position throughout 2004. Other
major matters in respect of which recommendations or approvals were requested of the Employees’
Council involved organizational adjustments, the ‘whistle-blowers’ order, the protection of privacy and
the amendment of the Articles of Association.
Communication between the Employees’ Council, Human Resources and the Managing Board is frequent
and can be characterized as open and direct. During the past year, this contributed a great deal to the
process of opinion- and decision-making. Once again, transparency in formulating and implementing
policy in a professional organization like NIBCapital proved crucial for all those involved.
In 2004, the Employees’ Council focused on bolstering communication with employees, particularly with a
view to identifying relevant policy indicators. An e-survey conducted by the Employees’ Council received
wide response and provided clear insight into employees’ perception of, and expectations of, the
Employees’ Council.
In view of the evaluation of strategic alternatives, the Employees' Council has called in outside assistance. A
document has been drafted listing the most important criteria the Employees' Council will use for the
assessment of the options and providing its recommendation. The Council has already conducted several
consultation sessions with colleagues.
Changes allowing NIBCapital to continue to seize new opportunities and to minimize threats will be under
review. In this light, the Employees’ Council considers the periodic SWOT analyses of employees very valuable
in combination with effective measures, implemented by management, with the aim of employing clear
indicators constructively to introduce improvements.
In view of its intention to contribute to the development of balanced policies for all parties involved, the
Employees’ Council has acted to exercise its newly extended nomination right in respect of one-third of the
members making up the Supervisory Board. To this end, a dialogue has been established with the Supervisory
Board regarding the composition of the Supervisory Board and the desired input from the Employees' Council.
FRANS VAN DER LEE, Chairman of the Employees' Council
HANS NAGTEGAAL, Vice-Chairman of the Employees' Council
