PDF, 1.2 MB - Pfleiderer AG

48 being focused: being better
1.04
0.9
02 01
Personnel development expenses
in million euros
Stock Option Scheme
Following its introduction in 2001, a stock option scheme was open again to selected senior
management in 2002 as part of the stock appreciation rights scheme set up with the Group’s
Long-Term Incentive Plan in 2000.
As in 2002 and 2001, the scheme requires a not inconsiderable personal investment
in Pfleiderer shares as a starting commitment. The exercise price in the premium price option
model is at least 110 percent of the base price. Despite the difficult economic situation, the
level of participation is pleasingly high and is a demonstration of senior management’s confidence
in the Group.
As announced in 2001, the variable compensation system that was initially introduced for
senior management, has now been extended to all employees outside the collective bargaining
process. The Pfleiderer Balanced Scorecard has created a foundation for these employees to
be paid according to personal performance and contribution to the value increase of their business
centers.
Annual performance assessments held between employees and their superiors also serve
to intensify dialogue and are an integral part of Pfleiderer AG’s management guidelines.
Personnel Development on the Business Campus
The Pfleiderer Business Campus bundles all management development activities and courses
in the Pfleiderer Group. Apart from training courses for new employees and trainees, advanced
training courses are on offer. The Campus is a place of learning and development within the
organization. As such, it appeals to all employees within the Group and acts as a motor for
corporate innovation and cultural change. Personnel development activities in 2002 took up a
budget of around one million euros (2001: 0.9 million euros).
Management Guidelines
Pfleiderer’s Management Guidelines are a focal point in the personnel development process.
The Guidelines set out and bring together ideals in terms of personal attributes and competencies
expected from corporate management. As such, the Guidelines are an essential part of
Pfleiderer’s management concept, expressing the Company’s desire to achieve a leadership
culture.
The Management Guidelines are directly beneficial to Pfleiderer AG and its senior
management, as they harness and direct leadership potential within the Company. As well as
representing a benchmark for the successful development of managers, the Guidelines act as
a selection instrument when filling senior positions and as orientation to all senior managers.
Finally, the Guidelines are an important instrument in developing a leadership culture within the
Company.