37 GRI Index and Assurance statement Engaged citizen Fair partner Responsible banker Human Capacity Report Sustainability management Overview Foreword Human Capacity Report of the RZB Group in Austria in 2015 In November 2016, the Raiffeisen Banking Group (RBG) presented the first Human Capacity Report of any multi-level banking group in the German-speaking countries. For the very first time, it surveyed the contribution made by the RBG to the Austrian human capital base – the performance potential of employees as generated by training and development – and its importance for the economy. The report was prepared on the basis of a comprehensive questionnaire survey using verified data from 2015, together with the Economica Institute of Economic Research. Alongside a comprehensive presentation of the economic footprint within the scope of the Added Value Report in 2014 and the Environmental Balance Sheet presented in 2015, this Human Capacity Report – as the third reporting element – completes the documentation regarding the overall social significance of the RBG in Austria. Here you can read an excerpt from the results of the Human Capacity Report in reference to the RZB Group in Austria. For more information, you can find the entire Added Value Report of the Raiffeisen Banking Group under www.raiffeisen.at (Über uns ➝ Sicher, regional, nachhaltig). Within the Raiffeisen Banking Group, the RZB Group in Austria holds a key position with regard to the topic of human capacity. The goal of this report is therefore to identify the contribution of the RZB Group to the human capital base and illustrate its significance within the regional economy. First, the regional economic contribution of the human capital investments toward productivity and economic growth is investigated. Next, the employee structure and the qualification profiles of the existing human capital are examined in greater detail, followed by the productivity of the employees. Finally, the contribution to the quality of the human capacity in the form of investments in preventive health care for the employees is outlined. All of these analyses are based on a primary data collection campaign carried out within the RZB Group from June to August 2016. This survey encompassed all employees of the RZB Group. Human capital investments and their contribution to productivity and economic growth The long-term, regional economic effects triggered by investments of the RZB Group in the human capital of its employees are presented below. Targeted investments in training and development, qualification and life-long learning not only impact the productivity of the individual employee and the company but also increase the economic output of the entire province and its attractiveness as a business location. The literature confirms that, alongside innovation, human capital is one of the most important factors determining economic growth. Occupational training and development increases productivity and the creation of added value. To put it another way: Both the quality level and the (quantitative) transformation of human capital resources correlate positively with economic growth. This is verified by drawing up a model of production functions in which the human capital is divided into the categories of employees with occupational training and development and employees without occupational training. Within this model, the intensity of the training at the company is depicted in the form of training and development expenditures and investments per employee per year. The productivity of the employees is measured as gross added value per hour of work. The result is a set of functions that enable an assessment of how elastic productivity is with regard to training and development expenditures and investments.
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