ANNUAL REPORT 2010

Human Resources
Many of the activities in 2010 were aimed at
improving productivity and making the labor expenses process more efficient; maintaining
and strengthening the working environment, the quality of life of our associates and
compliance with labor standards. Use of the new administrative platforms and the self-service
model was consolidated in Venezuela during the year.
At December 31, 2010, Mercantil Servicios Financieros has 9,034 employees (9,833 at the close
of 2009), 91% of whom work for Mercantil’s companies in Venezuela and 9% abroad (most of
them for Mercantil Commercebank in the United States).
During the year Mercantil Banco Universal and Mercantil Seguros implemented the Collective
Bargaining Agreements signed in 2009. To strengthen the quality of life of our associates,
various institutional seminars, health seminars, school fairs, and recreational and sports
activities for workers and their families were organized Also within the framework of the
Institution’s 85th anniversary, a walk was organized in Caracas in which more than 2000
workers and their relatives participated. Lapel pins were awarded for years of service to more
than 400 workers with 35, 30, 25 and 20 years of service with the Company. In response to the
climate problems towards the end of 2010, a Special Aid Plan was developed for workers
affected by the prolonged and heavy rainfall.
Mercantil’s training programs reached a consolidated level of 34,000 workers in their
different categories, with emphasis on compliance, technologies and technical training. More
than 9000 workers took part in different training events organized during the year.
A new edition of the Organizational Climate survey was conducted with the support of the
prestigious Great Place to Work Institute, improving the historic level of participation. In
2010 more than 85% of the employees of Mercantil Servicios Financieros and its subsidiaries
consider that Mercantil is a great place to work. This year’s results enabled Mercantil Banco
and Mercantil Seguros to be ranked for the sixth and fifth year running respectively among
the best companies to work for in Venezuela.
Mercantil Servicios Financieros
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