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Within the context of our Group strategy we also place particular emphasis on talent development, compensation and performance management.
In addition, we want to foster employee diversity in order to be optimally positioned to meet future challenges together with our workforce. Performance management Merck KGaA, Darmstadt, Germany, considers it important to identify employee potential early on and foster it on an individual basis.
We want to offer our talent attractive career opportunities, continual personal and professional development as well as prospects within the company. The evaluations of all participating employees are now carried out on the same basis and are recorded in a uniform IT system.
In this context we systematically combine talent recognition with the Performance Management Process, which allows us to objectively assess the performance of each individual employee.
Clear objectives, differentiated and open feedback, Annual report for merck individual development plans are important prerequisites for personal development, as well as for the success of the company. In this way we will create greater incentives for employees to achieve top performance, while at the same time allowing them to participate to a greater extent in the success of the company.
We succeeded with this again inexpanding our workforce pool to internally fill management positions when they become vacant. Inthe vast majority of management position vacancies were also filled by internal candidates. Internationality, demographics, gender ratio In our global markets, we want to hire the right people and retain them.
It is also our goal to anchor knowledge about our growth markets within the company. Therefore, as part of our diversity and inclusion strategy, we are focusing on topics such as internationality, demographics and gender balance.
In Germany, several other EU countries, the United States, and Japan we must prepare ourselves for demographic change. In these countries, the average age of our employees exceeds 40 — and we assume that this figure will continue to rise in the coming years.
In Europe, we are addressing these demographic challenges through various programs. These include adapting workplaces to the needs of older employees and establishing a health management program to maintain their ability to do their jobs.
Here we take into account the situation that is typical for the industry as well as regional differences.
A diverse management team We believe that balanced diversity among management enhances career advancement opportunities for talented employees while also helping to provide a broad experience base within the company.
In addition, it allows for differentiated decision-making, thereby making a significant contribution to the success of the company. Altogether, 67 different nationalities are represented in such positions.
Likewise, more women work in managerial positions in our Pharmaceuticals business than in our Chemicals business. Certain Group functions such as IT have a lower percentage of women in management positions.
Inwe filled two of four divisional leadership positions with employees who are not from Germany. Workforce diversity To us, diversity means much more than having a certain gender ratio and is not only important to us on a managerial level, but also throughout the entire workforce.
Together with a culture of inclusion, diversity promotes innovation and improves team performance. In addition to the Chief Diversity Officer, who is responsible for strategically managing diversity within the company, we also established the Diversity Council in This aims to build further buy-in for diversity and inclusion within the company.
The council consists of high-ranking managers from all parts of the company. Inthe Diversity Council developed the Diversity Framework, which bundles the diversity and inclusion strategies.
It focuses on the following topics: The results were presented to the Diversity Council and will be implemented in Industrial safety As a responsible employer, it is especially important to us to do everything in our power to prevent workplace-related illnesses and accidents.
We apply the lost time injury rate LTIR as an indicator to determine the success of measures aimed at accident prevention as well as occupational health and safety. This internationally recognized key performance indicator describes the number of workplace accidents resulting in lost time of more than one day per one million working hours.
Inwe again outperformed this goal, achieving an LTIR of 1. This program focuses on engaging managers in the safety culture and empowering our employees to take responsibility for their own safety.
Inwe continued to sensitize our employees to workplace hazards through numerous activities and awareness campaigns.Merck Merck at a glance Major achievements of With the acquisition of Serono, Merck became one of the world’s leading biotech companies.
The annual financial statements and the combined management report of the Merck Group and Merck KGaA for are being filed with the electronic German Federal Gazette (elektronischer Bundesanzeiger) and are available on the website of the German company register.
* The management report for Merck KGaA has been combined with the Group management report and published in the Merck Annual Report as well as in the annual financial statements of Merck KGaA. Merck - Annual Report Report link (base): Merck - Geschäftsbericht Cooperation project.
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5 Merck's Bulletin, A Periodical Record of New Discoveries, Introductions, or Applications of Medicinal Chemicals by E. Merck. The Zacks Research Daily presents the best research output of our analyst team.
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