Employee development and loyalty
At Deutsche Bank, we understand that employee development is crucial to our continued business success. To meet the diverse needs of our clients worldwide, we must retain talented employees and support them through personal development, training and career opportunities.
Recruiting staff in the ‘Battle for Talent’
Because of demographic change, we are increasingly faced with competition for the best talent. If we want to continue attracting qualified and committed employees in the future, we have to ensure that they see us as an attractive employer.
In 2012, over 770 dual-vocational trainees, combining formal education with training in the bank, started their careers at Deutsche Bank in Germany. Globally, we had a total of 2,016 young recruits in training and hired 653 new graduates.
In 2012, in our Private and Business Client division, we revised our vocational training program in line with our ‘New Generation’ motto to meet the demands of young employees. The new concept encompasses three pillars: theory, practice and responsibility. The ‘Responsibility’ pillar is of great importance in vocational training because it shows our trainees how they can become independent, responsible employees. Instructors and colleagues from the region will provide the young people individual support with regard to the theme of responsibility and strengthen them with reference to responsible conduct. The vocational training programme includes supplementary integrated options that enable the vocational trainees to enhance their knowledge – even outside of the bank – and pursue a social commitment in the community. For example, all vocational trainees are encouraged to actively participate in groups on behalf of a social project of their choice under the motto of “db young passion – vocational trainees shouldering responsibility”.
Employee development starts with understanding
Recognizing the needs of our people is important for achieving productive support measures. We conduct a global survey every year to identify employee concerns and determine what priorities we should set. The core section of the survey focuses on the themes of employee loyalty, further training and diversity.
In 2012, over 52,000 colleagues participated in the survey – half of all Deutsche Bank employees. One notable result was the increase in the level of the Employee Commitment Index, an indicator for the relationship between employees and the Bank. ‘Commitment’ has three components: the emotional bond with the Bank (identification), willingness to go the ‘extra mile’ for the Bank (dedication) and a wish to continue to work for the Bank (retention). While employee loyalty had increased continuously until 2006, it declined slightly in 2009. The current value of the Commitment Index is 73 percent – one point higher than the previous year.
The commitment of Deutsche Bank employees is significant even during times of extreme change for the industry, and 91 percent of employees in the survey said they go above and beyond what is normally expected of them in their jobs. This is significantly higher than the benchmark of top-performing companies in financial services and other industries.
The number of employees that have left Deutsche Bank to take on a job elsewhere has continuously dropped. This is a further indicator of the success of our employee development activities.
This high employee commitment is also reflected in a growing number of employees participating in the bank’s broad-based Global Share Purchase Plan. In 2012, approximately 20,500 employees from 37 countries purchased Deutsche Bank shares in monthly installments. This represents more than a third of all eligible employees worldwide and more than half in Germany. At the end of the purchase cycle, Deutsche Bank matches the acquired stock in a ratio of one, to one up to a maximum of ten free shares.
Investing in our employees
€ 109 million
invested in vocational and supplementary training in 2012
Impact of cultural change: The new principles of performance evaluation
In 2012, Deutsche Bank introduced a new approach to performance evaluation to support a culture of responsibility. It is based on our ‘High Performance’ principles, which were agreed upon in consultation with our staff. They sum up what we expect of our people in the following three performance categories:
- Delivering business and financial results
- Building the Deutsche Bank franchise
We expect our people to deliver their performance objectives in a way that ensures sustainable success aligned with the Bank’s values. Our performance standards establish criteria for measuring employee performance and ensure that the process is clear and consistent.
One of the evaluation criteria for managers, for example, covers how well they perform in terms of employee development. In addition to the year-end evaluation, a mid-year appraisal discussion with a particular focus on career development and objective setting was introduced in 2012 and is now mandatory.
Employees’ performance ratings feed into compensation and promotion decisions. This is of vital significance because it gives people the confidence that good performance is reflected in career opportunities and other rewards.