A fair, transparent and sustainable approach to employee remuneration has always been of crucial importance to the bank.
In 2021, we continued to refine our compensation framework and practices taking into account the macro environment and new regulatory changes.
Our compensation strategy is focused on supporting a global, client-centric banking model, reinforced by safe and sound compensation practices that operate within the bank’s capital, liquidity and risk bearing capacity and supports the key principle of fairness, irrespective of, e.g., seniority, tenure, gender or ethnicity.
The compensation framework promotes and rewards sustainable performance and contributions based on delivery, behaviour and conduct, across all levels of the organization. It is aligned to Deutsche Bank´s strategic objectives, business plan, risk strategy & management incl. environmental, social and governance risks, as well as to our corporate values and beliefs. It provides a clear structure of compensation composition across the bank, with parameters detailed per division and corporate title.
The HR function continues to drive strategic compensation initiatives to ensure regulatory compliance, deliver improved management and governance of our compensation costs and to continuously strengthen the link between performance and pay outcomes. This allows us to better understand, inform and control our pay decisions. They also facilitate our strategic compensation decision making over the long-term and provide transparency and enhanced understanding for employees.
Being appreciated and valued professionally is important for all of us. This is why our approach to recognition includes, in addition to pay and benefits, important non-financial mechanisms such as feedback, praise and a sustainable performance culture. To further foster this culture of appreciation, we launched the ´dbRecognition platform´ as a new way to say “thank you” to colleagues for a job well done, going the extra mile or doing something that reflects our brand and corporate values and beliefs.
Employees can also send milestone e-cards to congratulate colleagues on a role change, welcome them into the team or wish them good luck for an important work event. We are pleased to report that, within the first 3 months of launch, over 16,000 messages of recognition were sent to colleagues across the bank’s divisions and regions.