Siemens 2005 Annual Report Download - page 23
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23
Group Presidents Business Areas Megatrends Report of the Supervisory Board Corporate Governance Report
Performance culture
Sustainable success requires a true performance culture at all our Groups,
Regional Companies and Corporate Units. Our intense focus on perform-
ance entails comparing ourselves to the industry-best – in terms of orders,
innovations, solutions, the efficiency of our processes and, of course, our
attractiveness as an employer in the global competition for talent. Our
goals – outstanding expertise, continuous development and proactive
strategies that anticipate tomorrow’s challenges today – are ambitious, and
we cannot achieve them without the personal commitment of every
employee.
To guarantee top performance and long-term customer value, we do everything in our pow-
er to attract, recruit and systematically develop exceptional employees. Our business suc-
cess depends on the energy, enthusiasm and motivation of our people, regardless of where
they work in the Company.
Performance-based compensation
Siemens’ top 700 executives are covered by a uniform performance-based remuneration
system.
A large part of the remuneration paid to our roughly 6,000 senior managers worldwide
is also performance-based. Their income is calculated in terms of categories set out in
the Siemens Leadership Framework (SLF) – a comprehensive system for assessing value
creation that takes into account not only business success but also factors like personal
leadership qualities, customer satisfaction and process excellence. All decisions regarding
management compensation are based on a transparent and uniform evaluation of an indi-
vidual’s contribution to Company value. The variable components of remuneration – annu-
al bonuses and stock-based compensation – are also governed by uniform rules.
University degrees
158,300 = 34%
Engineers
and scientists
117,700 = 26%
Unrelated
qualifications or
no prior training
142,500 = 31%
Vocational training
or apprenticeship
160,000 = 35%
Employee qualifications