Corporate Culture and Employees
Fair and Appreciative Remuneration
Vonovia treats all of its employees equally across the Group. Remuneration is an important factor in this context and has an impact on employee satisfaction – one aspect which will be taken into account when setting management remuneration using the Sustainable Performance Index (SPI) from 2021 onwards. All employees are remunerated solely on the basis of performance and market-related factors. Targets are set in annual performance appraisals. In some cases these targets are factored into variable performance-related remuneration component.
In 2020, we harmonized various works agreements on special employee benefits in order to strengthen equal opportunities and a sense of solidarity within the company. All areas of the Group in Germany now have access, for example, to the employee share program or tax-free employer grants for capital formation purposes (from 2021). The HR department in Austria prepares a mandatory biennial salary report for the works council to ensure that all employees are treated equally regardless of their gender, age or ethnicity. Current figures show that there is a gender pay gap at Vonovia, with female employees paid more than male employees (see Key figures – Social affairs). This is due to the higher proportion of men in the technical occupations and a more balanced gender ratio in commercial roles.