Merck’s success is significantly influenced by the competence and commitment of its employees. Due to intensive competition, it is increasingly difficult to recruit and retain qualified specialists, particularly in the pharmaceutical sector.
We are meeting this challenge by continuously enhancing our wide range of international personnel marketing and development measures. Merck addresses specialists and executives by means of a Group-wide Talent & Succession Management, thereby minimizing turnover. This process helps to identify internal talent for management positions and facilitates the objective assessment and development of talent, thus enabling positions to be quickly filled with suitable employees as a result of targeted selection via a Merck-internal talent pool. We manage short-term vacancies by means of clearly defined, appropriate deputy regulations.
Key factors for employee retention and satisfaction are identified and evaluated by means of regular, corporate-wide employee surveys. We derive measures from the results of these surveys and monitor their efficacy in follow-up surveys.
A performance management system applicable to the whole Merck Group was introduced to better measure employee contributions to the company’s success. This is to facilitate a consistent assessment of the degree to which personal goals are achieved and the Merck Values are lived. On this basis, individual HR development measures are identified and implemented. This ensures that employees are prepared for new business challenges and are motivated to solve these challenges to the benefit of the company. The recently introduced Rewards Policy system complements this process by ensuring that performance-related payment components are handled consistently throughout the Group. The “Merck Long Term Incentive Plan” offers eligible executives and experts a long-term, profit-related compensation component. More information is available at Note [29] Provisions.
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