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Organization of Working Time & Pay

 

We want to support our employees in achieving a good balance between work and family life, and one of the ways we do this is by having different working time models and services offered free of charge. An underlying principle of cooperation in the Salzgitter Group is joint entrepreneurial activity. We support this with performance-based pay, which gives our workforce the opportunity of participating in the company's success. As part of our pension scheme, we also offer various individual pension models.

Organization of working time

A range of different working time models, part time for example, assist our employees in realizing the plans they have more flexibly. Trust-based working, flexitime, and flexitime accounts enable a balance to be achieved between company interests and personal interests. Furthermore, employees of the Salzgitter Group in Germany have had access to a family service since the start of 2012 where they can obtain advice. This service also acts as an agent in finding childcare or care for dependent relatives in need of nursing.

In our production facilities, we have been successful in avoiding monotony at work through optimizing the shift system and introducing special forms of organizing work. For instance, jobs encompassing several areas ensure that the scope of tasks is extended while taking account of ergonomic aspects, which helps to avoid repetitive strain.

Performance-based pay

We show recognition of our employees' commitment and, at the same time, strengthen their identification with Salzgitter AG through a profit participation scheme that depends on the company's consolidated net profit. The basis for measurement is Salzgitter AG's ROCE target (return on capital employed) and the ROCE targets of the Group companies which are determined each year by the Executive Board

Pension scheme

Large parts of Salzgitter AG have a uniform model of employer-financed pension scheme: the Salzgitter company pension scheme. The scheme makes an important contribution to protecting our employees' standard of living in retirement by closing the gap between final income from employment and their state pension. Moreover, we offer attractive options for bolstering personal pensions through a deferred compensation scheme (employee-financed pension, either under the "SZAG Model" or under a direct life assurance policy). These options supplement the company pension and allow scope for individual solutions.

Demography funds

We are concerned to preserve our employees' health and their ability to work as best we can. Nonetheless, not all of them will be able to work right through until they reach retirement age. As one of the first companies in the sector, we therefore set up company demography funds which are financed in equal parts by money from both employer and employees. These funds are used first and foremost for the early retirement of employees who work under particularly strenuously conditions, for instance to enable age-related part-time working arrangements. The funds are based on the collective agreement on "Shaping Demographic Change" in the iron and steel industry as well as on a groupwide agreement. The agreement specifies further regulations relating to the funds and what they can be used for.

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