Remuneration and provisions
What we offer our employees: Good money for good work
In terms of remuneration, we pursue the principle of good payment for good performance. Therefore, variable remuneration elements are playing an increasingly important role – and not just for top management. We are attempting to strike a balance between the goals of wealth creation and Continental's success on the one hand, and the remuneration of our employees on the other hand.
We know that challenging tasks, a good working environment and a secure job are truly central factors in selecting an employer nowadays. In addition, we offer our employees attractive remuneration structures – and one which apply worldwide as well. As a result, we offer the employees in our German plants not only a fixed salary component but also additional payments such as holiday pay and a Christmas bonus. But that is not all: as part of group working, employees receive additional remuneration if the targets are met. The criteria involved are, for example, reducing scrap or downtimes, as well as optimizing quality.
In addition, there is an annual profit-sharing program for our employees worldwide. According to this arrangement, the employees of the Continental corporation benefit directly from the company's success in the form of a bonus.
Security in retirement also
The system of old-age provision is facing great challenges, and not just in Germany. The demographic structural changes are increasing the pressure on the state pension systems – and in many markets in which Continental operates. It is therefore natural that company and private pension schemes have become more important.
Our international pension strategy is focusing on switching from defined benefit to defined contribution plans in order to offer both employees and the Company a sustainable and readily understandable pension system.The corporation promotes private contributions made by employees by adding corporate subsidies to the money they invest. The company also encourages employees to participate in a “pay conversion” scheme. The employee relinquishes part of their pay, which is then invested by the employer in the company pension scheme.