such opportunities among this age group, since these employees
tend to be in a phase of life more amenable to international
assignments. Our comprehensive healthcare
management helps to keep our older employees fit.
Effective tools for motivating employees
Motivated staff perform particularly well. For this reason,
HOCHTIEF does more than offer attractive career opportunities
to keep its employees satisfied. Remuneration studies
carried out in the year under review show that the compensation
employees receive from the Group reflects performance
and is fair and good. HOCHTIEF employees paid according
to collectively agreed pay scales in Germany also
receive performance-based compensation. Our subsidiaries
Turner (USA) and Leighton (Australia) similarly apply bonus
and incentive systems based on the company's performance.
For us, a positive corporate culture includes a healthy work-life
balance. The "Work and Family" certificate demonstrates
HOCHTIEF's intensified commitment to promoting
a balance between work and family. This commitment
applies throughout the Group and we have implemented a
wide range of initiatives. In 2008, for instance, HOCHTIEF
once again invited some 200 of our employees' children to
the "HOCHTIEF Easter holiday action days" at the company"s
headquarters in Essen, where the children learned
about HOCHTIEF.
HOCHTIEF is proud of its high level of employee satisfaction,
which is also reflected in how long employees remain
with the company. In Germany, for example, average length
of service is 12.2 years, at Turner it is 7.6 years and at
HOCHTIEF in the Czech Republic it is 10.8 years. We aim
to improve on these good figures even further, for example,
by acting on the findings of internal surveys which show us
where action needs to be taken – like the specially designed
employee survey carried out in 2008 at HOCHTIEF Property
Management to review the success of the integration
of the acquired companies.
New employees integrated successfully
We have good expertise in integrating new employees into
the HOCHTIEF Group. Due to the acquisition of Flatiron,
some 2,500 employees were integrated into the Group during
the course of the year. Furthermore, HOCHTIEF Facility
Management took on 40 employees from the Abbott pharmaceutical
group. HOCHTIEF ensures success by calling
on an integration team when it acquires companies. This
team is among other things responsible for developing
solutions for future organizational structures and cooperation
based on best practice.
Intensive internal communications
A key component of HOCHTIEF's corporate culture is
timely, open communications with employees in all areas
of the Group. This is why we report those issues that are
important
to our employees in numerous employee publications
and newsletters, on the HOCHTIEF intranet, at
meetings as well as in many other ways. Moreover, every
employee receives a comprehensive information pack
about their new employer when they join the company.
Thanks to employees and employee representatives
HOCHTIEF's sustained growth and excellent reputation
around the globe are down to our employees. We have
them to thank for our outstanding results in fiscal year
2008. The above-average commitment, high level of qualification
and loyalty of each and every employee make us
strong.
Our solution-driven discussions in a spirit of partnership
and close cooperation with employee representatives are
also major factors contributing to the success of HOCHTIEF.
We would like to thank them, too, for working so well with us.
Main points of the Executive Board and Supervisory Board compensation system
The main points of the compensation system as well as
details of payments received by individual members of the
Executive Board and Supervisory Board from Group companies
for fiscal year 2008 are summarized in the compensation
report.* This report is to be considered part of the
combined Company and Group Management Report.
