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Introduction World recognized electronics and electricalbusiness Siemens has been positioned among the top3 electronics and electrical organizations allover the world Siemens is a very big company which isemploying around 450,000 people
Compensation and Benefit Performance-Related Compensation Typical Pay Composition Fixed pay Benefits Risk protection Health and well-being Pensions Fringe benefits
Performance-related Compensation
Remuneration at Siemens is tailored to business strategy. Consistent remuneration of Siemens employees' performance ensures that their strategic targets are achieved.Siemens believes that monetary incentives are a strong motivating factor. Siemenstherefore works with fixed and variable elements of the pay package. The variablecomponents in salary increase in step with the importance of employess position in thecompany (Waddingham, 2009).
Pension
Over 30 countries Siemens maintains supplementary company pension plans).Fringe benefits According to Siemens industrial turbo machinery(2009), Siemens offers additional fringe benefits and perks depending on regional conditions and usual local benefits, (e.g. company canteen, products and services at special prices).
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Managing Board members serving as of September 30, 2009 Peter Lscher Wolfgang Dehen 2 Dr. Heinrich Hiesinger Joe Kaeser Barbara Kux
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2,552,512 1,972,530 1,268,717 795,549 985,624 862,421 953,646 985,624 985,624 761,670 571,253 761,670 581,357 675,521 761,670
Prof. Dr. Hermann Requardt Prof. Dr. Siegfried Russwurm Peter Y. Solmssen Former Managing Board members Rudi Lamprecht 4 Eduardo Montes 4, 5 Dr. Jrgen Radomski 4, 6 Jim Reid-Anderson 7 Prof. Dr. Erich R. Reinhardt 5, 8 Dr. Uriel J. Sharef 4 Prof. Dr. Klaus Wucherer Total
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780,000 780,000
1,809,605 1,770,839 9
234,000 195,000 234,000 130,000 325,000 455,000 234,000 234,000 7,470,333 8,181,000 9,583,711 6,881,053 7,298,149 885,329 193,994 228,501 242,4929 324,389 9 266,683 242,4929 503,740 9 260,927
Under this concept, each Supervisory Board member receives fixed compensation of 50,000 annually as well as short-term variable compensation of 150 for each 0.01 by which earn-ings per share as disclosed in the Consolidated Financial State-ments exceeds a minimum amount of 1.00; this minimum amount is increased annually by 10 percent, beginning with the fiscal year starting on October 1, 2009. In addition, long-term compensation of 250 for each 0.01 by which the aver-age earnings per share over the last three completed fiscal years as disclosed in the Consolidated Financial Statements exceeds the amount of 2.00; this minimum amount is in-creased annually by 10 percent, beginning with the fiscal year starting on October 1, 2009. The determination of the Supervi-sory Board remuneration is based on basic earnings per share (basic EPS)