How our workforce developed in 2020
While implementing our strategy, as of December 31, 2020, Deutsche Bank had 84,659 employees, a decrease of by 2,938 employees or -3.4% compared to 2019. All regions have been impacted by the restructuring measures.
mainly driven by the reductions in Germany and in EMEA ex Germany
primarily driven by reductions in the US and UK more than offset by increases in Asia/Pacific related to DWS COO
mainly reductions in Fixed Income & Currencies
mainly driven by reductions in Commercial Banking Germany
primarily driven by the sale of Postbank Systems (-1,339) and reductions in Chief Transformation Office and HR (-171) and in Finance (-146), partly offset by increases in Technology Data & Innovation (+667 excluding sale of Postbank Systems) and in COO division (+322) mainly driven by insourcing of business critical external roles.
Capital Release Unit
mainly driven by mainly driven by reductions in the Equities Business
FTE development by division
As of December 31, 2020, the number of embedded external workforce (contractors and agency temps) is at 5.4 k FTE (Dec. 31, 2019: 5.2 k FTE; Dec. 31, 2018: 5.3 k FTE).
Workforce development by region
in 2020 is – 3.4% or
- 2,938 employees
in 2020 is – 7.8% or
FTE development by region
Net FTE development in each region was as follows:
- Germany (-3,176; -7.8%) driven by the implementation of restructuring measures, primarily in the Private Bank related to private clients and global functions of the Private Bank and to Infrastructure functions driven by the sale of Postbank Systems (-1,339).
- North America (-250; -3.0%) driven by reductions in all divisions and related infrastructure functions.
- Latin America (-14; -8.6%) due to reductions primarily in Mexico as a result of the implementation of our footprint strategy.
- EMEA ex Germany (-55; -0.3%) mainly driven by reductions in the Private Bank partly offset by increases in Technology Data & Innovation and in COO.
- Asia/Pacific (+556; +2.9%) primarily driven by increases in Technology Data & Innovation and in COO.
Restricted hiring and internal mobility
As the Bank worked towards its headcount targets in 2020, we continued with the process for restricted hiring approved by the Management Board in order to support Deutsche Bank’s strategy. Hiring has been restricted to positions that are viewed as critical to the Bank’s success and future growth.
Internal mobility plays a vital role in developing and retaining qualified, talented employees and ensuring that the Bank continues to benefit from their expertise and experience. In 2020, Deutsche Bank continued to implement its internal mobility strategy and meet its commitment of filling one-third of all vacant positions with suitable candidates from within the organization.
Vacant positions (except for Managing Directors) are typically first listed inside the Bank for at least two weeks. Prioritizing internal candidates helps employees affected by restructuring to find new roles in the Bank. We also foster mobility between divisions, which enables employees to broaden their skills and experience. Moreover, internal mobility helps reduce the Bank’s redundancy and recruitment costs.
Total staff turnover rates are comprised of exits from resignations and departures initiated by the Bank, including restructuring or performance-related terminations and terminations related to fixed-term contracts.
In 2020, the total staff turnover has been affected by the COVID-19 pandemic: the Bank temporarily suspended restructuring, while voluntary staff turnover declined by about 25% in 2020.
Total staff turnover rate
Total staff turnover of
in 2020 is – 3.4 percentage points
lower than 2019 (12.6%)
Voluntary staff turnover of
in 2020 is – 2.1 percentage points
lower than 2019 (8.0%)
Total staff turnover rate by region
Voluntary staff turnover rate by region
Human capital Return on Investment (RoI)
Using quantifiable metrics improves the credibility of HR as a profession and allows to identify specific, measurable ways that HR services benefit the organization.
For the area of productivity DIN /ISO 30414 recommends the Human Capital Return on Investment to measure HR performance. This metric shows how effectively the investment in human capital is supporting the organization’s goal and is calculated based on the ratio of income/revenue to employment costs.
For 2020, Human Capital RoI is at 27% for Deutsche Bank Group. Total Workforce Costs of 10,907 M € include compensation and benefits for employees plus service fees for contractors and agency temps.