Georgia focused investment platform - Unlocking shareholder value

Employee matters


A key factor to our success is a cohesive and professional team, capable of accomplishing the Group’s objectives. We are committed to attracting and identifying the best professionals, caring and planning for their needs, investing in their development and fostering their commitment.

The Human Capital Management (HCM) department and the management system it implements play a vital role in managing our most valuable resources – our employees. The HCM department develops Human Resource (HR) policies and procedures which determine key principles, areas, approaches and methods that are crucial for building HCM systems for all our businesses.

Examples of some of our HR policies and procedures include, but are not limited to:
  • employee planning and recruiting
  • staff administration
  • compensation and benefits
  • code of conduct
  • employee development and training
  • human rights
  • grievances
  • retrenchment
  • anti-nepotism
The Bank’s HCM department works closely with HR managers and executives from our subsidiaries in order to ensure proper implementation of the main principles and the provision of necessary support in all HR-related matters.

We recognise the importance of observing human rights and are committed to implementing socially responsible business practices. Our Human Rights Policy establishes priorities and puts control procedures in place to provide equal opportunities and prevent discrimination or harassment on any grounds, including disability. Our Human Rights Policy applies to all employees and includes procedures in relation to employment processes (including recruitment procedures and procedures governing the continuity of employment of employees who become disabled during the course of their employment), training and development.

We are committed to employee engagement. We believe that the knowledge of our Group is key and we strive to provide our employees with a continuous flow of information, which includes but is not limited to information about our corporate culture, the Group’s strategy and performance, risks relating to its performance, such as financial and economic factors, and our policies and procedures. We provide information in a number of ways, including via managers, presentations, intranet, email and regular town hall and off-site meetings. We also value the views of our employees. We consult with them regularly and have implemented feedback systems, such as frequent employee satisfaction surveys, which ensure that opinions of our employees are taken into account when making decisions which are likely to affect their interests. Employee feedback also helps to improve our customer-focused approach. 

In order to ensure pay is competitive, the Bank monitors employee pay satisfaction via labour market compensation surveys in the banking industry. The results of the 2017 survey confirm that the Bank remains a competitive employer. In 2017, the Bank conducted Barrett Organisational Values assessment. The results enable us to measure and manage organisational culture. In 2017, we focused on identifying the personal, current and desired organisational cultures in the Bank. Cultural alignment ensures positive outcomes such as job satisfaction, employee retention and engagement. Based on the survey results, our cultural entropy is currently 7% (cultural entropy score ≤10% is considered healthy). We are in the process of creating a holistic view of the cultural factors in performance indicators.


Sustained development of the Group’s businesses requires the strengthening of the teams of our subsidiaries both by using the Group’s own significant internal resources through staff development and rotation and by attracting external candidates. Our recruitment policy and relevant control procedures ensure an unbiased hiring process that provides equal employment opportunities for all candidates.

According to the HR Policy, internal candidates have priority when filling vacant positions, especially in situations where there are vacancies in top and middle management. Thus, in 2017, 266 Group employees were promoted to managerial positions.

In order to attract young talent, we actively partner with leading Georgian business schools and universities, participate in job fairs and run extensive internship programmes aimed at the professional development of young professionals. In 2012, Bank of Georgia established a new format for its traditional internship programme and constantly develops it. The programme attracts promising graduates and provides them with the opportunity to participate in professional trainings. Interns are directly coached by the Bank’s executives and middle managers to help them on their path to gaining their first management positions in the near future. In 2016, the Company successfully completed a talent acquisition project for its Investment Officer position and launched it in 2017 as well. The project selects a number of young and talented candidates for various assignments within BGEO Group. In 2017, the number of young professionals (under 30 years old) represented 32% of the total headcount. 

In 2017, GGU, in collaboration with Georgia’s Innovation and Technology Agency, organised a project for talented and motivated young people with technical academic backgrounds for the second consecutive year since its initial launch in 2016. Participants had the opportunity to work on and introduce technological solutions to real challenges that the company is facing in the fields of water supply and sewerage systems. Twelve authors of the best projects were offered a job and they are successfully continuing their work and development within the company. GGU has been working in collaboration with the country’s leading universities, professional colleges and their career services to attract new talent. The collaborations are bound by the memoranda with Free University and, the latest, with San Diego State University, according to which the students will engage in GGU’s traineeship programmes and benefit from practical experience received at the company.

In 2017, a GHG’s human resources department organised job fairs for students in leading medical universities and nursing colleges in Tbilisi and other regions. The company’s healthcare services business attracted more than 300 students to its nursing course. GHG has memoranda of understanding with various nursing colleges and universities. In 2017, GHG’s Evex Learning Centre conducted six-month free nursing courses for 278 students from nursing colleges. 72 graduates were offered jobs at the company’s healthcare services facilities. 

In 2017, GHG signed a special memorandum with “Panatsea” – the biggest nursing college in Tbilisi, whose students will undergo 18 months of practical training at GHG’s hospitals. The top five students will get a grant from Evex.

To manage our employees in a way that best supports our business strategy, we seek to help them contribute to business performance through personal and professional development. Following our aspiration to develop strong leaders, we have developed an extensive leadership development programme.

The Group’s corporate learning system is comprised of a wide range of internal and external training sessions specifically designed to meet the needs of front and back office employees at the Group’s subsidiaries including banking, energy and utilities, real estate development, healthcare and insurance. Middle – and senior-level employees are given the opportunity to receive external training in well-known training institutions outside of Georgia.

In 2014-2015, Bank of Georgia launched a Leadership Development Executive Coaching programme. It provides an individual approach towards developing leadership skills. The programme continued to run successfully throughout 2017 and further expanded to lower leadership levels, having benefited its participants with a personally tailored development experience. Employees involved in the programme gained a greater awareness of their leadership strengths and opportunities for future growth. Based on its previous years’ experience, the Bank has refined its Leadership Development System together with the 360 degree feedback process.

The Bank highly values the talent of its employees and provides various talent retention activities engaging them through leadership development and various professional certification programmes. BOG creates different development opportunities for employees in terms of career and personal growth. Internal promotions are part of the talent attraction and retention system and also create a basis for employee loyalty and retention. The Bank also offers competitive remuneration and benefit packages for its employees and supports work-life balance by providing additional paid days off, in addition to those in the Labour Code of Georgia. The Bank also encourages engagement and dedication of its talented employees with awards made to the Best Employee and Team of the Year.

Each of the Group’s businesses has developed an extensive training programme for front office employees in order to provide them with relevant skills, such as effective communication and building strong and valued client relationships. For example, the Bank’s mentoring programme is part of a front office training process. Every new employee is provided with regular advice, guidance and practical instructions from an appointed mentor, who later participates in the new employee’s performance evaluation.
Through this programme, we aim to provide individual support to our employees in achieving their professional goals.

In 2017, the Bank launched an online Learning Management System (LMS), enabling employees to easily and comfortably access corporate learning opportunities. The Bank also started updating the managerial induction and onboarding programmes, which will cover employees at all levels.

GHG offers continuous medical education through Evex Learning Centre. Apart from modern training methods, the centre offers up-to-date equipment, auditoria, computer labs and other facilities that conform to the highest international standards. In 2017, the centre trained a total of 2,046 nurses, 1,510 physicians and 1,508 administrative employees. 

In 2017, GHG’s healthcare services business spent about GEL 2 million on training and development. Most of the expenditures went towards training nurses, ER specialists and the advancement of specialists in various medical fields.

The Human Resources and Human Rights Policies are an integral part of the employee on-boarding package. It is available for employees on the intranet and the updates are communicated electronically.

The Human Rights Policy covers the following:
  •  Equal opportunities and anti-discrimination
  •  Work environment free of harassment
  •  Grievance policy
The Group has a Code of Ethics, as well as Anti-Bribery Policy, which are also applicable to the Group companies. In BOG, the Corporate and Information Security department is in charge of implementing and monitoring controls related to anti-bribery issues. The department has the procedures in place, which define the process of establishing relationships with vendors, undertaking public tenders, etc. The Corporate and Information Security department provides annual online training for employees on anti-bribery issues, which are also included in induction trainings. 

As an organization that is fully committed to prevention of bribery and corruption, the Bank ensures that appropriate internal controls are in place and operating effectively.

Anti-bribery and anti-corruption policy enforcement processes include:
  • Operating an internal whistleblowing and hotline system
  • Disclosure of gifts or other benefit, including hospitality, offered to, or received by the Bank personnel
  • Voluntary disclosure of corrupt conduct
  • Third party screening to identify the level of risk third parties might pose
  • Informing the banks/partners/counterparties about anti-corruption and anti-bribery principles before commencement of business relations
  • Ensuring that anti-bribery and anti-corruption clauses are incorporated in the agreements with customers and third parties
  • Ensuring that anti-bribery and anti-corruption matters are included in contractual agreements with partners /counterparties
  • Online training programs aiming raising awareness in corruption and bribery issues among employees

As part of the Group’s third party screening to identify the level of risk the third parties might pose, the Group carries out the following due diligence processes: indirect investigations which includes general research of the activities undertaken by the proposed business partners, their reputation and information whether the company is a related party.

Ensuring the safety of the workplace and providing healthy working conditions are among the Group’s fundamental HR management principles. The Group pays particular attention to preventive measures, such as conducting regular staff training and medical check-ups, certifying workplaces and promoting a healthy lifestyle. In order to enhance the awareness of employees and contractors regarding health and safety risks associated with construction work, the company conducts regular training and educational seminars. In 2015, 2016 and 2017, the number of health and safety training hours amounted to approximately 110, 70 and 86, respectively. m2 Real Estate publishes brochures and booklets with warnings and special rules to be followed when working on sites. Respective control procedures include quarterly audits by external health and safety consultants and internal monthly inspections of m2 Real Estate worksites. In addition, m2 has a comprehensive reporting procedure for health and safety concerns. With regard to emergency preparedness and response, m2 follows an Emergency Management Plan. This outlines possible scenarios during emergency situations and determines specific strategies for the company’s employees, contractors and visitors on how to react when in a crisis situation.