Human Resources Management Policy

Record of Reviews

Version: Date of Review: Track Record: 
1 06/03/2013 Document creation
2 06/26/2015 Including the Items Scope (II), Additional Documents (III), Concepts and Acronyms (IV), Responsibilities (V), Management of Consequences (VII), Exceptions (VIII) and General Provisions (IX).
Including item 1.6;
Updating item 2.2;
3 08/25/2017 Updating items II. Scope, III. Additional Documents and VII. Management of Consequences.
4 12/30/2019 Updating items II. Scope, III. Guidelines sub-items 2, 2.1 and 2.2, IV. Exceptions, VII. Additional Documents, VIII. Concepts and Acronyms and IX. General Provisions.
Including sub-item 2.3.1 in item III. Guidelines.


I. Purpose

Establishing the Principles and Strategy to Manage the Human Resources involved in Cielo’s operation and the governance required to support this strategy.

II. Scope

All members of the Management (officers, members of the Board of Directors and members of the Advisory Committees), members of the Fiscal Council and employees of the companies Cielo S.A., Servinet Serviços Ltda., Aliança Pagamentos e Participações Ltda. and Stelo S.A., hereinafter (“Cielo” or “Company”).

All of the Company’s Subsidiaries must establish their directives based on the guidance provided in this Policy, considering the specific needs and legal and regulatory aspects to which they are subject.

Regarding the Affiliated Companies, the Company’s representatives working in the Management of Affiliated Companies should make efforts to set their directive based on the guidance provided for in this Policy, considering the specific needs and legal and regulatory aspects to which they are subject.

III. Guidelines

1. Principles

1.1. The diversity and dignity of human beings are respected. Acts of discrimination, prejudice, intimidation or harassment of any kind are not accepted in any situation. Cielo believes that respecting the diversity of ideas is part of its way of being and this is reflected in the behavior of all its employees.

1.2. Cielo values transparency and open dialogue as tools to improve the organization.

1.3. Cielo is committed to complying with the conventions of the International Labor Organization (ILO), defending and protecting Human Rights and Children’s Rights and following legal requirements, standards, and conventions concerning working relations and the environment.

1.4. Cielo values and fosters the balance between work, health, and family through several actions.

1.5. Cielo respects the employees’ right to free union association and the right to collective bargaining.

1.6. Talents belong to Cielo and not to specific areas.

2. Value Proposition

2.1. The Human Resources Management Strategy is summarized in two value propositions that have the purpose to ensure the creation of value for shareholders, employees and other persons involved in Cielo’s operation. This value creation takes place through the optimal management of the human capital involved in the Company’s operation and the following pillars.

2.1.1. Ensuring that the culture supports the organizational strategy;

2.1.2. Ensuring that people who make a difference are ready;

2.1.3. Strengthening the meritocracy, enabling the recognition and rewarding employees with high commitment and performance;

2.1.4. Ensuring a more inclusive and diverse environment;

2.1.5. Strengthening the customer vision.

2.2. The Value Proposition for the Shareholder has the purpose to set how the optimal management of the human capital involved in Cielo’s operation can contribute to the sustainability of the business.

2.3. The Value Proposition for the Employee has the purpose to create personnel management solutions, expand the intellectual capital and strengthen the organizational culture to strategically answer to the organization’s scenario.

2.3.1. Cielo values and fosters the development of its employees and, to this end, provides several learning experiences in its multiple formats. All of these are in line with the need and strategy, seeking sustainability and perpetuity of the business. The Training department is always evolving with the higher purpose of developing the human resources of the Company, after all, they will lead us to success.

IV. Exceptions

All exceptions to this Policy must be approved by the Board of Directors.

V. Management of Consequences

Employees, suppliers and other stakeholders that see any deviations from the guidelines of this Policy may report this deviation through the Ethics Channel ( or 0800 775 0808), anonymously, if they so wish.

Internally, the failure to comply with the guidelines of this Policy envisages the application of measures to charge the agents who do not comply with this Policy according to related seriousness of such non-compliance.

VI. Responsibilities

  • Members of the Management and Employees: Observing and ensuring the compliance with this Policy and, whenever necessary, seek the Organizational Development Executive Vice Presidency for its opinion on situations involving conflict with this Policy or due to the occurrence of situations described therein.
  • Organizational Development Executive Vice Presidency: Guardian of this Policy and responsible for its improvement, update, communication to stakeholders, publication, and activation, and the rules and procedures that support the policy. Also responsible for establishing the actions of the management of consequences regarding the non-compliance with this Policy.

VII. Additional Documents

  • Cielo’s Code of Ethical Conduct
  • Labor laws in force at the federal, state and municipal levels.
  • Internal rules continuously improved, approved by the appropriate levels of authority and made available to all employees.

VIII. Concepts and Acronyms

  • Affiliated Companies: companies in which the Company has significant influences, pursuant to Article 243, Paragraph 4 and 5 of the Brazilian Corporation Law, (i) there is a significant influence when the Company holds or exercises the power to participate in the decisions of a company’s financial or operating policies, without, however, controlling it; and (ii) the significant influence will be assumed when the Company owns twenty percent (20%) or more of the voting capital of the said company, without controlling it.
  • Subsidiaries: Companies in which the Company, directly or indirectly, holds rights as partner or shareholder, which permanently guarantee to the Company the preponderance in corporate resolutions and the power to elect the majority of the members of the Management, pursuant to Article 243, Paragraph 2 of the Brazilian Corporation Law.
  • Stakeholders: All relevant public with interests related to the Company, as well as individuals or entities assuming any type of direct or indirect risk towards the company. Amongst others, we point out: shareholders, investors, employees, society, customers, suppliers, creditors, governments and regulatory agencies, competitors, press, users of electronic means of payment and non-governmental organizations.

IX. General Provisions

It shall be incumbent upon the Company’s Board of Directors to amend this Policy whenever necessary.

This Policy shall take effect on the date of its approval by the Board of Directors and revokes any rules and procedures contrary thereto.