Labor Relations
At Banorte, we follow the statutes established by law regarding living wages, labor equality, equal pay, and worker protection. We have collective bargaining agreements, whose revision is regulated by the Labor Law every two years for general conditions and every year for salary adjustments, ensuring adequate working conditions for our employees.
Banorte's collective bargaining agreement is a legal document that establishes the terms and conditions of employment for the company's unionized and non-unionized employees employees. This contract regulates aspects such as wages, work schedules, benefits, rights and obligations of both parties (company and employees). These agreements are duly registered with the Federal Center for Labor Conciliation and Registration, ensuring compliance with current regulations.
Diversity, Equity and Inclusion
At Banorte, we have a set of practices and initiatives to identify and provide equal opportunities to the various groups in our workforce, with the intention of recognizing, valuing and respecting their contributions. Our human resources policies incorporate elements of equity, offering the same opportunities for development and growth to all our employees.
We have formalized a Diversity, Equity and Inclusion Subcommittee, whose purpose is to develop and follow up on the actions implemented internally in this area.This committee responds to the gradual efforts that have taken place in the Group, including GFNorte's adherence to the United Nations Global Compact, the UN Women's Women's Empowerment
Principles, and the recognition of the Bloomberg Gender Equality Index. At Banorte, we have a set of practices and initiatives to identify and provide equal opportunities to diverse groups in our workforce, with the intention of recognizing, valuing and respecting their contributions. Through our Diversity and Inclusion Strategy, we create a culture that drives innovation, growth, and competitiveness among our diverse workforce.
During 2024 we achieved an increase in female representation at the Management level, from 27.5% women to 29% of the staff composition at this level.
In addition, we maintained a 12% participation of women at the second level of General Management.
In terms of management positions within the business areas, 23% of the workforce is currently made up of women.Human Rights
At GFNorte, we value and respect human rights, recognizing our responsibility to identify, evaluate, prevent and mitigate any adverse impact that our activities may generate.
We have adopted relevant initiatives to integrate these principles into the management of our processes and activities. This includes our business relationships and strategic decision-making.
Our Human Rights Policy defines the regulatory framework and essential guidelines to ensure respect for the human rights of our employees, customers, suppliers, communities and other stakeholders at all times.
Human Capital
The most important thing for Banorte is its employees, which is why our work has been to contribute to creating a flexible and resilient organization facing challenges. Talent is also evolving, and with it, its needs and priorities. Nowadays, employees value flexibility, work/life balance and mutual trust with their organization more than ever. In parallel to this, we find ourselves with segmented talent, with at least four different generations living together within the organization, and with different types of priorities depending on their life stages. We are aware that attracting and retaining technological and strategic profiles, as well as generating favorable conditions for this talent to flourish, is an essential competitive advantage at this time.
Learning and Leadership Banorte
Developing our employees has been a fundamental part of the results that Banorte has been able to achieve today. Seeking a balance between a results-oriented culture and the generation of a value offer that satisfies the labor and personal expectations of our employees has become one of the strategic objectives of the Human Resources team.
In order to provide the organization's leaders with effective tools to better manage their personnel, we have implemented the Human Resources Management System “Success Factors”, which integrates the following interactive and information modules:
- Employment Profile
- Recruitment Management
- Goals and objectives
- Succession and development
- Labor discipline
We have developed the Banorte leadership model, which incorporates skills in the performance evaluation scheme, aligning the performance and educational opportunities for all our employees.
Middle and senior level positions are eligible to receive institutional performance bonuses linked to the fulfillment of objectives as part of the performance evaluation scheme that are reviewed on a semi-annual basis.
Employee value proposition
At Banorte, we want our employees to live their day-to-day lives in a healthy work environment where daily experiences make a difference.
Therefore, in addition to benefits, we offer vaccination campaigns, nutritional and physical activity coaching, breastfeeding rooms, experiences, among other benefits that improve their quality of life.
Turnover
In 2024, we closed the year with a total turnover of 20.1%, of which 12.5% corresponded to undesired (voluntary) turnover. This indicator remains below the average turnover rate for the banking sector and represents 92% of the total number of full-time employees, taking into account all the Group's positions and subsidiaries, except Afore XXI.
Organizational Culture
Workplace climate and employee experience
As part of our strategy to measure and improve our workplace climate, we participated in the Great Place To Work (GPTW) exercise to certify us as a great place to work.
In addition, we implemented the practice of active listening to our employees through an organizational pulse, allowing us to continuously measure three key dimensions: commitment, mood and burnout index. This approach gives us a clear and up-to-date view of the well-being and performance of our teams, facilitating agile, data-driven decision making.
Banorte Contigo
Banorte Contigo is the main platform for cultural outreach, focusing on the bank's key behaviors through virtual sessions.
We develop a monthly program aligned with key milestones and needs identified in our internal measurements, which address:
- Diversity, equity and inclusion
- Strategic finance
- Collaboration, teamwork and the creation of positive environments
- Customer experience: how we operate and create value in the business
- Integral health system: mental health, diabetes prevention, suicide prevention, among others.
Events and sports activities
At GFNorte, we develop a varied agenda of activities and events for our employees, designed to strengthen their sense of belonging, promote health care, provide entertainment and foster strong bonds within our teams.
Commitment to labor, family, and personal co-responsibility
At GFNorte, we promote co-responsibility in labor, family, and personal life through the implementation of various initiatives that ensure equal opportunities for our collaborators.
Flexible working hours
Flexibility is a key element in addressing a dynamic environment and ensuring sustainable organizational growth. We have successfully consolidated new work arrangements, allowing us to maintain productivity without compromising operational quality.
The lessons learned from managing remote, hybrid, and in-person teams have strengthened our capacity for collaboration, ensuring that the organizational culture is preserved and fully embraced, regardless of distance.
Young Talent Program
We recognize the value of young talent and the importance of creating opportunities for their professional development without compromising their academic training. Through the Young Talent Program, we offer part-time work opportunities that allow university students to gain experience in the financial sector, contributing their innovative vision and specialized knowledge. This initiative reinforces our commitment to developing new generations, fostering a learning and collaborative environment that fosters their growth.
Parenting
At Banorte, we promote shared parental responsibility, facilitating the integration of employees into the care and activities related to the birth or adoption of children. As part of this commitment, in 2024 we increased parental leave to 15 business days, allowing for greater participation in parenting from the earliest stages.
Additionally, to support our employees in their return from their 100-day maternity leave, we have established private, appropriate, and hygienic spaces for breast pumping in some corporate buildings.
This way, we guarantee an environment that promotes the well-being and comprehensive development of our employees and their families.
Abstract from the Psychosocial Risk Prevention Policy
At Banorte we are committed to the integral wellbeing of our employees, which is why we have an internal Psychosocial Risk Prevention Policy that establishes clear guidelines to promote a healthy and respectful work environment, free of any type of violence. This policy seeks to strengthen an organizational culture based on values, where respect, empathy and integrity guide our daily actions. Within this policy, the following points stand out:
- Leadership and negative relationships at work: Promote and inform the entire management and board of directors about the importance of leadership based on values and behaviors that favor a favorable organizational environment based on respect for people, where teamwork and efficient conflict management are encouraged and where the dignity of the individual is not affected.
- Workplace violence: To have and apply all measures aimed at detecting any type of workplace violence that may occur in any form, and to reinforce knowledge in the use of the institutional tools and channels already established such as Ethicspoint, in such a way as to promote a culture of reporting within a framework of objectivity and always with clear evidence that allows us to apply the corresponding corrective measures if necessary.
Occupational Health and Safety
In accordance with internal control guidelines and with the purpose of establishing and maintaining a safe and dignified environment among its employees, GFNorte’s General Direction of Administration is responsible for proposing and submitting specific policies for authorization through the established channels, as well as overseeing their due compliance.
In terms of Occupational Health and Safety, at GFNorte we maintain our discipline and efficiency in the execution of the company's work, disseminating on the Human Resources intranet (internal portal), the relevant provisions of the regulations and official Mexican standards on safety, health and labor environment, as well as the full text of the Collective Bargaining Agreement and Internal Labor Regulations that govern Banorte.
The Internal Labor Regulations (ILR) are applicable in all work centers nationwide and are mandatory for the company and its personnel, both unionized and non-unionized. Establishing and complying with the safety and hygiene, civil protection, health, and work environment provisions established by laws and regulations to prevent accidents and illnesses in the workplace, subject to the provisions of the Joint Safety and Hygiene Commission and GFNorte's Internal Immediate Response Units for Civil Protection.
The basis for the implicit approach of our management system is based on the concept of plan, do, check and act (PDCA), providing an iterative process to achieve continuous improvement.
Occupational Health and Safety Programs
The health and safety of our stakeholders has become a clear priority for GFNorte, therefore, we have carried out actions in Health and Safety and Civil Protection for the care of health at all times, highlighting those detailed below:
- Comprehensive Management of Major and Emerging Risks
- Risk Analysis Procedures for Buildings and Branches belonging to the Business Continuity Plan Policies
- Protocols for first response to emergencies
- Execution of simulation exercises coordinated with the relevant regulatory authorities
- Policy for the prevention of psychosocial risks in the workplace as part of the Integrated Health System
- Actions and programs to promote a favorable organizational environment and prevent workplace violence, among others
- EthicsPoint whistleblower system as a whistleblower mechanism
- Code of Conduct
- Training in safety, civil protection and occupational health through the PROTECTORES BANORTE program
Financial Education and Inclusion
We are committed to the progress of our country. We believe that promoting a better understanding of personal finances is essential to build a sustainable future and generate greater opportunities for all. Through our lines of action, we focus on:
Financial education
Our goal is to enhance financial skills to our clients, providing strategies that offer useful and relevant information, proper administration of their resources, and the responsible use of financial services.
Through different actions and communication tools, we offer workshops directed to clients, employees and community, focused on personal finance issues and the use of financial services as part of the value-added offer.
Financial inclusion
We encourage financial inclusion so that every day a higher number of people have access to financial products and services that best fit their needs, and in this way continue to create better opportunities.
We have transformed ourselves to provide a personalized and digital offer of products and services, which increases access to more people every day.
As signatories to the UNEP-FI Principles for Responsible Banking, in 2022 we signed a commitment on Financial Health and Inclusion, which aims to promote universal financial inclusion and foster a banking sector that supports the financial health of customers by setting targets and measuring them on an annual basis. As it is a priority for Banorte, during 2023 we set a financial inclusion subtarget and a target, both of which were approved by the Board of Directors.
Commitment Principles of Responsible Banking
As signatories to the UNEP-FI Principles for Responsible Banking, we signed a commitment on financial health and inclusion that aims to promote universal financial inclusion and foster a banking sector that supports the financial health of customers by setting targets and measuring them on an annual basis.
We established a goal for individuals and a goal for corporations for the period 2024-2026, which were approved by our Board of Directors.
- Financial inclusion goal for corporations: Grant financing to an additional 7,250 SMEs.
- Financial inclusion goal for individuals: Incorporate between 1.0 and 1.2 million customers through digital banking.
See our report about the general context of Mexico and Banorte.
