Download PDF version - Munich Re
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<strong>Munich</strong> <strong>Re</strong> <strong>Re</strong>port of the Board of Management<br />
Our trainee graduation class of 1996,<br />
photographed in the Japanese garden<br />
behind our Leopoldstrasse office building.<br />
Our staff<br />
It is of decisive importance for a leading international provider of financial<br />
services that its staff are highly qualified, strongly motivated and personally<br />
well suited to their tasks. These are the prerequisites for good client<br />
relations and hence the most important factors in the success of our<br />
enterprise. Personnel planning, too, has to take account of the increasingly<br />
rapid changes in products and markets. We attach great importance to the<br />
constant further development of our staff and their ability to meet new<br />
challenges.<br />
In the last two years especially, we have implemented important decisions<br />
in the area of personnel policy at the <strong>Munich</strong> <strong>Re</strong>insurance Company. The<br />
company’s organizational structure has been streamlined and managerial<br />
functions have been more clearly defined and also extended. The number<br />
of executive managerial positions in the company has been almost halved.<br />
The hierarchy of titles and the various “perks” attached to them have been<br />
abolished. Instead, the functions actually fulfilled by our staff are described<br />
and evaluated. Salary components linked solely to length of service have<br />
been eliminated and performance-related components introduced in their<br />
place.<br />
The aim of these measures is to enable us to attend to our clients’ needs<br />
and wishes even more closely, to speed up operational procedures and<br />
in this connection above all to reduce time-consuming internal approval<br />
processes. The existence of a broad-based personnel development system<br />
extending throughout the company will ensure that we continue to have<br />
staff whose suitability, qualification and motivation make them the right<br />
people for our clients to talk to and do business with.<br />
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