Employee satisfaction as an important parameter
Occupational health and safety, training and development and fair pay promote the satisfaction of employees. NORMA Group is convinced that satisfied employees are also more willing to perform in their daily work. Measuring employee satisfaction is therefore an “organizational thermometer” for the company, enabling strengths to be identified and potential for improvement to be implemented promptly.
In addition to employee surveys, NORMA Group uses the voluntary employee turnover rate as an indicator of employee satisfaction. The voluntary attrition rate describes the number of employees who have voluntarily left NORMA Group in relation to the total number of employees. In 2022, the aggregated attrition rate was 14.2% (2021: 13.2%). However, there are large regional and local differences, depending on the respective operational, cultural, and macroeconomic environment. NORMA Group has therefore not set a global target for 2023 to improve the attrition rate but has defined individual local targets for all locations with more than 60 employees.
Good performance is rewarded
NORMA Group aims to attract and retain qualified and committed employees. In order to promote employees ‘interest in the positive development of the company‘s value and allow them to participate in its economic success, the remuneration system of NORMA Group includes a fixed salary and a performance-related variable remuneration component. Taking the respective area and level of activity into account, this is based on the achievement of predefined financial figures and/or personal targets, among other criteria.
These contents are part of the Non-financial Group Report and were subject to a separate limited assurance examination.