Conditions of employment

Working hours
The basic working hours are 36 hours per week, spread over five working days per week. You can submit a request once every two years in order to work less or more (up to a maximum of 40 hours per week).

Purchase and sale of leave hours
Do you have a temporary need for more free time or some extra income? Then you can buy or sell leave hours. Of course, this is not unlimited; the Collective Labour Agreement states exactly how many hours you may exchange.

Leave Saving
At the Rabobank, you can save leave for five years. Regular leave hours for which you are entitled, but also extra hours purchased. In this way, you can, for example, save for a long vacation or a sabbatical. You can take a maximum of 13 weeks leave. For example, to go on the trip of your dreams, to take a course, to reflect on yourself. You may take a long-term leave once every five years. You can possibly finance it with the life-course savings scheme.

Free time through flexible working hours
Client requirements and expectations change, as do the requirements and needs of employees. That is why the Rabobank is extremely busy establishing a new work style, which joins the organization's client focus with the employees' entrepreneurship. The new work style supports six important principles: fewer rules, working independent of time and location, activity-related working, collaboration, own responsibility and more entrepreneurship.

Within this concept, you meet together with your manager about work, work patterns and leave.  You make agreements together and adjust them regularly. Customer service is central in these agreements and your interests and those of the organisation should remain on par (‘win-win’).

Working at home
In situations where the work is more suited to working at home, it is possible to do so. Teleworking is becoming more prevalent at the Rabobank. Your manager will discuss with you whether teleworking is appropriate for you. This depends, among other things, on your function. The Rabobank offers different facilities in order to work at home, varying from teleworking allowances to the layout of the workspace at home.

Birth and death
You receive extra leave upon the birth or death of a close family member. The partner gets a maximum of two days leave upon the birth of a child.

Maternity leave and labour leave
Maternity leave and labour leave together amount to at least sixteen weeks. If you adopt a child, then you are entitled to a maximum of four weeks adoption leave with retention of salary.

Parental leave
You can take parental leave until your child becomes 12 years old. Without payment of salary and with partial pension accrual.

Childcare regulation
The Rabobank adheres to legal regulation for childcare.

Long-term care leave
If you have a partner or child with a life-threatening illness, then you are entitled to a maximum of six weeks of unpaid care leave. In principle, this leave is taken part-time. If a different situation presents itself in which you would like to care for a sick family member, then you make agreements about this with your manager. There will be consideration about what is reasonable per situation; we believe a standard rule is not suitable.

Unpaid leave
You can submit a request for unpaid leave once every two years. We believe that unpaid leave contributes to an employee’s ability to remain fit and employable. That is why the pension accrual is partially continued. You can finance unpaid leave with the life-course savings scheme.

Senior leave
If you are 57 years or older, then you can work fewer hours, up to a maximum of four per week in the case of full-time employment. Half of the decrease is applied to the AOW (state pension) and there is no influence on pension accrual or VUT (early retirement) calculation.

Pre-retirement leave
Retiring is a major change. That is why we give courses that prepare employees for the life after their retirement. For this, you receive a maximum of five days of pre-retirement leave, with salary retention.

Personal budget
You receive a personal budget of 1.8% of the annual salary every year in September. This budget can be used immediately, saved, placed in your pension, spent on life-course savings or used to purchase leave days.

Remuneration
Of course you receive a salary each month in addition to a 13th month, vacation allowance and variable income. The Rabobank remuneration policy is based on a system of Performance Management. This is an annually recurring cycle of establishing individual and collective goals, coaching, evaluating and remunerating. Performance Management promotes result-oriented working (together) by setting a clear relationship between performance and remuneration.

The remuneration consists of a fixed and a variable income. The fixed income is based on the content and the weight of the function and the degree to which you develop yourself in your job and achieve results. Based on this individual evaluation, your salary increases a maximum of 6 percent per year up to the scale maximum.The variable income depends on your performance: does your work achieve the agreed upon individual and collective results? The variable income can increase up to 15 percent.

All the Rabobank units work with a performance-related remuneration system.

Disability
Everyone gets sick sometimes. But unfortunately, an illness is sometimes so serious or long-term that an employee is not able to work for a long time. In such a situation, it is comforting to know that your salary and fixed allowances continue to be paid as usual for the first 12 months of your absence. After that, other agreements take effect, where the basic principle is that working pays and working more pays more.

Commuting to and from work
The Rabobank provides you with travel reimbursement for the costs that you incur in travelling to work.

Relocation scheme
If you relocate upon the bank's request or because you receive a different work location, then the Rabobank pays your relocation expenses.

ANW-gap
You can voluntarily contract for an insurance that covers the hole in the ANW. The Rabobank pays 30 percent of the premium for this ANW-gap insurance.

Pension scheme
You automatically participate in the pension scheme as a Rabobank employee. Employees pay 1/3 of the premium with a maximum of 6,66 percent of the pension base, while the Rabobank pays 2/3. The pension scheme provides for a retirement pension, a next of kin pension and partner pension (including orphan pension) and a disability pension. The qualifying age for retirement is 65 years. Under certain conditions, you can retire earlier (starting at 55 years) or later (up to 70 years). You can also choose for part-time retirement and -within fiscal limits- for variation in the amount of the pension payment. If you think that your pension is not high enough, then you yourself can save for a supplementary pension.

Commuting by train, car or bike?
The Rabobank is one of the most sustainable companies in the world. We then also take the environment into account. That is why we stimulate employees to take the bike or the train, if possible, instead of the car. And so we have a discount scheme for an NS – Dutch rail provider – season ticket for commuting to and from work and a bicycle scheme. Employees with a lease car also have an NS Business Card, which can be used for business travel and for commuting to and from work. In this way, a conscious choice for each trip can be made between public transportation and the lease car.

In addition, there is car expense reimbursement for business travel with the personal car and a car lease regulation. The management can allocate a lease car to employees if it is appropriate to the function.

Attractive discounts on banking products
As a Rabobank employee, you get attractive discounts on various products, such as on your mortgage and the most common retail insurances. You also pay less for the collective health insurance and ANW-gap insurance. In addition, you can participate in the salary savings scheme or life-course savings scheme.

The world around us is changing rapidly and the bank changes with it. The financial sector is dynamic. That is true for product development and the provision of services to clients, but also for the manner of working with clients and with colleagues. As leading player in the financial world, the Rabobank wants to be ahead in new developments and innovations. That is why Rabobank needs employees who will grow with the bank and -even stronger- allow the bank to grow.

Working at Rabobank then also means enjoying working on your own development. The Rabobank invests there fully, including via training. You can flourish and develop yourself so that you maintain challenge in your work and remain employable. But we also expect that you yourself invest. By performing well, by learning from feedback about your performance, by collaborating, by coaching, by participating in projects, by being an intern, by attending training and by changing functions on a regular basis.