PhosAgro Group to Index Wages of All Employees by Another 15%

PhosAgro Group plans to index the salaries of the staff of all its production sites by 15%, starting in April.

This decision, made by PhosAgro’s Management Board at a meeting on 24 March, was driven by the Company’s excellent operating performance, increased labour productivity and agrochemical production, as well as the improved efficiency of business processes.

Besides wages, the Company’s production sites have a flexible bonus system in place that is tied to the fulfilment and over-fulfilment of production targets. In addition, annual bonuses are paid out to mark professional holidays – Chemist’s Day and Miner’s Day.

All PhosAgro production sites have collective agreements with a common list of benefits and incentives for personnel. All employees have access to healthcare through private medical insurance. In addition, wellness and summer holiday programmes are in place, including for the children of employees, and the corporate housing programme is very popular.

Mikhail Rybnikov, PhosAgro CEO and Chairman of the Management Board, said: “More than 22 thousand people work at PhosAgro Group enterprises. And every one of them makes an important contribution to our steadily improving production results and to national food security. We consider our employees to be the Company’s main asset, which is why we have created safe, comfortable working conditions, and why we guarantee decent, competitive wages.”

The average salary of PhosAgro employees increased by 11% in 2021 and by another 22% in 2022.