Labor rights: Respecting employee rights
Deutsche Bank attaches great importance to protecting labor rights and employee rights. We respect the right to freedom of association and collective bargaining, and we cultivate a constructive and trust-based relationship with employee representatives and trade unions at all levels. We are paying greater attention to appropriate behavior by business partners.
The global principles of the UN Global Compact and the standards of the International Labour Organization (ILO) form the foundation for employee rights at Deutsche Bank.
The majority of our employees in Germany and roughly 50 percent of our workforce worldwide are covered by wage agreements or similar arrangements. More than 400 works council members represent the interests of our employees in Germany; they are partly released from their normal work duties for that purpose.
Compliance with legal requirements is also mandatory for business partners
In addition to our commitment to our own staff, we actively support the observation of labor rights and employee rights outside our company as well.
Our procurement principles, which apply worldwide, require that suppliers comply with national legislation and offer minimum wages and adequate benefits.
If any of our business partners fundamentally violates any of these principles, we will terminate our business relationship with them.
Labor rights and employee rights: the bigger picture
In 2010, we began raising awareness of the significance of human rights issues with employees. We evaluated the impact of our business activities on human rights, assessed our guidelines and tools, for example in the area of risk management.
In the long term, the aim is to support labor rights and employee rights by using our sustainability management system to integrate the goals and activities derived from these evaluations into our business processes and infrastructure.
Principle 2 of the UN Global Compact:
"Businesses should make sure that they are not complicit in human rights abuses."