GRI 102-38, GRI 102-41
Fair pay for employees is a matter of course at 50Hertz. Additional offerings relating to pensions and health round off the package as an attractive employer. The remuneration systems are refined according to need to ensure the Company remains an attractive employer for our staff in future. The IG BCE (Union for the Mining, Chemical and Energy Industries), together with the Employers’ Association of Energy and Supply Companies (Arbeitgeberverband Energie- und versorgungswirtschaftlicher Unternehmen e. V. – AVEU), negotiates our collective agreements. In 2020, 50Hertz’s own collective agreement was negotiated for the first time since 2013 and a decision was made to continue discussing the general working conditions (basic agreement). Fair remuneration based on requirements and performance is supplemented by comprehensive company benefits and the offer of a company pension scheme.
In addition, employees have the option to share in the previous business year’s success by means of Elia Group’s stock programme. The year 2020 was the eighth year every employee was offered shares at a reduced price.
50Hertz transparently and voluntarily releases the total earnings of the management team in the consolidated financial statements in detail, listing the fixed and variable overall remuneration, as well as corporate pensions and any other benefits to 50Hertz’s management. The features of the remuneration systems are explained with disclosures in the corporate governance declaration.
The factor of compensation of the highest-paid employee to the median annual total compensation for all employees is 6.5.
The remuneration system includes success- and performance-based elements, which offer an incentive for achieving common corporate goals and corresponding individual goals. A number of goals relate to sustainable corporate management, such as compliance with occupational health and safety guidelines or successful social dialogue.