OP Financial Group is a responsible employer and actor

Corporate responsibility is an integral part of OP Financial Group’s strategy and every OP employee’s daily work, tasks, decisions, and all activities.

OP Financial Group’s corporate responsibility work is based on our mission and core values that are supported by our cooperative business model. The Code of Business Ethics contains OP Financial Group’s corporate responsibility and environmental principles, which all those employed by OP Financial Group must observe, regardless of their role, position or location. The Code is supplemented by more detailed rules and guidelines.

OP Financial Group is committed to complying with a number of international declarations and initiatives, such as:

  • UN PRI
  • ILO Declaration on Fundamental Principles and Rights at Work
  • UN Global Compact

Wellbeing in enabling employee experience

The aim of OP Financial Group’s employee wellbeing policy is to maintain and promote the health and wellbeing of all employees through close and well-organised management of occupational health and safety and wellbeing at work. This creates the basis for a good employee experience and supports the work ability of older employees and those at risk of becoming incapable for work. Wellbeing at work is ensured through close cooperation with our occupational healthcare and pension providers, as well as other top professionals in the field. 

Key elements supporting employee wellbeing at OP Financial Group include early intervention, extensive occupational healthcare services, rehabilitation, flexibility at work and diversity management. The Group also has a network of wellbeing ambassadors that have established a role as promoters of wellbeing in daily operations. 

Our top priority is to identify and reduce excessive work-related stress. We developed the means for each OP Financial Group employee to find ways of assessing their wellbeing, and extended the tools available for self-management and nurturing one’s own wellbeing. We also found several ways to support our managers in fostering employees’ fitness for work and wellbeing during this exceptional period.

Occupational safety at OP is based on prevention and systematic procedures. OP takes safety into account in everything related to personnel and working conditions. Group-level procedures have been agreed for threatening situations, which the various organisations of OP Financial Group implement locally in accordance with their needs.

We promote equal opportunities and diversity

OP Financial Group regards diversity as an asset. We aim to ensure that OP Financial Group’s human resources are highly diverse in terms of factors such as competence, experience, gender and age, in order to meet the changing requirements and needs of our customers and business, and those stemming from our strategic targets. 

We guarantee equal opportunities and rights for all our employees, who are treated equally at all stages of employment, such as remuneration, recruitment and career transitions. We regularly monitor and promote the implementation and development of equality and diversity by means such as personnel surveys and candidate experience measurement during recruitment.

On an annual basis, we monitor the distribution of personnel in various task groups on the basis of factors such as gender, pay, age and the number of days of parental leave and their distribution. We foster the diversity of governing bodies by ensuring that candidates have a wide range of knowledge, skills and experience, and that each region, gender, and age group is represented. In executive positions, we aim to have at least 40% representation of each gender.

Each OP Financial Group company that has at least 30 regular employees prepares a Gender Equality and Equity Plan. As regards companies that belong to the central cooperative, it has been agreed that the plan is drawn up at the level of the central cooperative. In addition, it is recommended that OP cooperative banks that do not fall within the scope of the Act on Equality between Women and Men and the Non-discrimination Act prepare a Gender Equality and Equity Plan to the applicable extent.

Freedom of association and collective agreements

The right of employees to belong to a trade union is a key feature of an affluent society. OP Financial Group respects its employee’s unionising rights. 

OP Financial Group companies observe two different collective agreements.  The agreements contain provisions on, among other things, working hours, holidays, notice periods, occupational health and safety, and the rights and responsibilities of employee representatives and occupational health and safety representatives. In Finland, 91 per cent of OP Financial Group’s personnel are covered by universally binding collective agreements. At OP Financial Group, the percentage of the total workforce represented in health and safety committees is 94 per cent of the Group’s personnel.

OP Financial Group observes all applicable local laws. The most important piece of legislation governing the relationship between employers and employees and/or employee representatives in Finland is the Act on Cooperation within Undertakings (1333/2021). OP Financial Group complies with the procedures laid down in legislation and collective agreements and agreed locally. OP handles any operational changes in a responsible manner.

Discrimination and misconduct

OP has a zero-tolerance policy on discrimination. Personnel may report any suspected cases of discrimination to the Audit function. Any deviations from the Code of Business Ethics should be raised with HR, line managers or Compliance. Anonymous reports on suspected violations of rules and regulations can also be made anonymously through a whistleblowing channel. Actions that are against OP Financial Group’s core values can also be reported. We received no reports of discrimination in 2021.