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REC Annual Report 2011
37
Sustainability
Of the total 3,587 employees at the end of 2011, 28percent were
female, which is similar to2010, but slightly up from2009 (23percent).
Out of the total of seven executives in theGroupManagement teamat
the end of the year, onewas female. In the company’s Board of Directors,
one of four employee-electedDirectorswas female, while three of the
eight shareholders electedDirectorswere female.
The total turn-over rate for 2011was 18percent. In Singapore the rate
was 24percent, in theUS it was six percent, whileNorway had19percent.
Many resignations inNorwaywere a direct result of the ongoing
organizational restructuring, which led to employees searching for and
finding opportunities externally. The number of in-voluntary resignations
will increase in the first quarter 2012, as those leaving as a result of the
organization changes/shut-downs have completed their resignation period.
Approximately 75 percent of all employees in Norway are unionized. The
cooperation between management and the unions is functioning well
through established representation and fora. The union representatives
contribute constructively in the handling of the company’s challenges
and opportunities. Election of new employee-elected representatives to
the Board was carried out in 2011. There are currently no unions
represented in REC companies outside Norway. REC allows for freedom
of association in line with international conventions, and works to ensure
that employees are treated in a fair manner. Where employees are
unionized and national regulations allows for collective bargaining
agreements, REC will facilitate these discussions. It is thus estimated
that approximately 21 percent of total workforce is covered by
collective bargaining agreements.
Direct economic value generated and distributed
(NOK INMILLION)
2011
2010
2009
Direct economic value generated
14 390
14 115
8 926
Revenues
13 366
13 776
8 831
Other income
992
304
0
Interest income & other financial income
32
35
95
Direct economic value distributed
-11 693
-11 539
-8 245
Operating Costs
Cost of material and changes in inventories and write-downs
-5 750
-4 980
-3 000
Other operating expenses
-3 740
-3 357
-2 379
Employee compensation
-2 001
-2 211
-1 649
Payments to capital providers
Interest expenses and fees
-504
-1 138
-833
Income tax paid (-) / received (+)
302
147
-384
Economic value retained
2 697
2 576
681
Total workforce by December 31, 2011
(NUMBER AND PERCENTAGE)
REC SILICON
RECWAFER
REC SOLAR
REC ASA
TOTAL
Total number of employees
882
718
1 914
56
3 587*
Number of full time employees
882
712
1 912
52
3 575
Number of part time employees
0
6
2
4
12
Number of apprentices/trainees/interns
0
22
47
0
69
Percentage contracted/ temporary man-year
11%
1%
2%
4%
4%
Percentage female employees
18%
18%
37%
38%
28%
*
Total number includes 17 employees at Technology Inc in US
Turnover by December 31, 2011
(NUMBER AND PERCENTAGE)
REC SILICON
RECWAFER
REC SOLAR
REC ASA
TOTAL
Total number of resignations
52
190
384
21
647
Resignations – of which women
21%
20%
47%
38%
37%
Resignations – of which age group under 30 yrs
21%
19%
45%
10%
35%
Resignations – of which age group 30-50 yrs
50%
76%
52%
91%
60%
Resignations – of which age group over 50 yrs
29%
6%
2%
0%
6%
Resignations – of which voluntary
64%
96%
83%
100%
86%
Average sickness rate in 2011
REC SILICON
RECWAFER
REC SOLAR
REC ASA
TOTAL
Percentage absence due to sickness
0.8%
7%
3%
3%
1.6%