Riga Airport is a responsible employer. Our remuneration policy aims to create a system of remuneration that motivates our employees to provide high-quality, safe and affordable services to our guests, and to maintain and develop an infrastructure that meets international aviation requirements. The remuneration policy is designed to ensure that our staff receive a stable, competitive salary, always paid on time, along with social guarantees and benefits.
What does the pay consist of?
The remuneration system is defined in the Airport’s Remuneration Rules. It consists of:
- salary – i.e., monthly salary (normal-hours staff) or hourly rate (aggregate-hours staff) determined for each position;
- premiums and bonuses (cash awards), and any other kind of compensation in connection with the work.
Remuneration is a combination of salary, premiums, bonuses and monetary awards.
The salary system consists of 16 levels. A salary level means the range of salary (from/to) for certain job groups. Within this range, the salary may vary depending on how it is formed. All jobs in a job group are broken down into different salary levels.
For our staff, salaries are determined by the relative value of the job position, taking into account the following basic criteria:
- responsibility – level of discretion, influence over the outcome;
- problem solving, decision making and complexity;
- professional knowledge, including the level of education and work experience.
A bonus is an additional reward for particularly successful performance. It is paid in recognition of outstanding and exemplary work. A bonus is an optional financial incentive that is not paid on a regular basis.
Types and amounts of premiums:
- for overtime work or work on a public holiday – 100% of the agreed salary amount (hourly or daily rate);
- for night work, starting from the first hour – 50% of the agreed salary amount (hourly or daily rate);
- based on a special order, in specific cases (such as replacing an absent employee or performing additional duties) – up to 30% of the agreed salary amount (hourly or daily rate).
Remuneration of members of Management Board and Supervisory Board
Remuneration of members of the Management Board and the Supervisory Board is determined in accordance with the requirements set out in the Law on Governance of Capital Shares of a Public Person and Capital Companies, and the Cabinet Regulation No. 791 of 22 December 2015, “Regulations on the Number of Members of the Board and Supervisory Board of Public Entity Capital Companies and Public-Private Capital Companies according to the Indicators Characterising the Size of the Capital Company, Maximum Monthly Remuneration of the Members of the Board and the Supervisory Board”.
Monthly remuneration of the Chairman of the Management Board and the Chairman of the Supervisory Board is linked to the average monthly remuneration of employees working in the country in the previous year, as published in the official statistical notice of the Central Statistical Bureau of the Republic of Latvia. A coefficient is applied depending on the type of the capital company. According to the criteria characterising capital companies (number of employees and financial indicators), Riga International Airport, SJSC, is classified as a large capital company.
The monthly remuneration of the Chairman of the Management Board of Riga Airport shall be subject to a coefficient of 10, and the monthly remuneration of the Chairman of the Supervisory Board shall be subject to a coefficient of 3. The remuneration of members of the Management Board and the Supervisory Board is set at 90% of the monthly remuneration of the Chairman of the Management and of the Supervisory Board respectively. Where a member of the Board simultaneously takes up another job position, the total remuneration remains unchanged at 90%, and the remuneration of the Board member and the other position is distributed proportionally.