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