Responsible operations increase intellectual capital
Much of Aspo’s value lies in its intellectual capital, which is increased through responsible operations and honed by the Group’s personnel and environmental policies.
Aspo is engaged in trade and logistics, which require close cooperation with customers and an understanding of their businesses. This is why a large part of Aspo’s value lies in the expertise of its personnel and in its customer and supplier relationships. Nurturing, enhancing, and increasing this intellectual capital is one of the key principles of Aspo’s staff policy. Aspo’s value lies in the Group’s structural, human, and relationship capital.
Structural capital consists of the structures, systems, and processes we use to ensure that vital expertise is not tied to any individual, but is as widely available as possible in the Group.
For instance, Aspo has made major investments in the Group’s shared IT systems to allow subsidiaries to develop their key accounts and enhance their internal processes. The new ERP and the state-of-the-art CRM system that will be built on top of it serve to increase the open flow of information and thereby enable us to take a more systematic approach to developing functions that are important to our customers.
Regular measurement – of, for example, customer satisfaction in different sectors – is also an essential aspect of structural capital.
In 2011, the Group has approved ethical guidelines that define our shared responsible practices. These guidelines will be used in all our business countries and cultures.
Human capital covers personnel matters, such as competence and personal development, job satisfaction, recreational activities, and rewards. Aspo does everything in its power to create a supportive working environment and promote professional development. We regularly assess personnel satisfaction with their own tasks, quality of management, and Aspo as an employer. The Group is responsible for taking corrective action when necessary.
Investments are made in training and professional development at all organizational levels. Aspo’s employees also have the opportunity to further their careers anywhere in the Group. Aspo has launched a large-scale personnel training program under which employees can complete vocational qualifications in their respective fields. The program will also facilitate the harmonization of practices in different market areas. Extended customer thinking will be a key element of the training programs of Aspo companies in the near future.
In 2005, a personnel fund was established. Some of the Group’s earnings are placed in the personnel fund as a profit bonus. The objective is for the fund to use the majority of the profit bonuses to acquire Aspo shares. Aspo wants its personnel to be a major shareholder group.
Relationship capital comprises expertise in dealing with customers, suppliers, and other stakeholders. Most of Aspo’s customer relationships are very long-standing partnerships based on mutual trust. The same goes for our supplier partnerships, many of which have also lasted for decades.