Our performance-based compensation model is intended to attract and motivate highly-qualified, target-oriented employees in competitive market conditions with a view to forging long-term ties with Siegfried.
The model is based on a total compensation package that comprises both fixed and performance-based components.
Every employee receives a base salary appropriate to the demands of the job, the employee’s experience and skills, the performance achieved and local market conditions. When it comes to determining the base salary, employees who meet the expected performance level and qualification parameters in full are positioned in the market average (median) of comparable positions in the chemicals industry.
Employees of all levels are entitled to participate in the Short Term Incentive Plan (STIP). The STI is paid in cash (retrospectively at the end of every financial year) and rewards an individual’s performance and contribution to enterprise value.
The Long Term Incentive Plan (LTIP) is an additional performance-based remuneration element reserved for senior and middle management. The LTIP is aimed at ensuring a sustainable increase in enterprise value, an alignment of interests between plan participants and shareholders, and the retention of management with the company.
The Employee Share Purchase Plan (ESPP) allows employees who are not eligible to participate in the Long Term Incentive Plan (LTIP) to purchase Siegfried shares at a discounted price and to participate in the company’s success as shareholders. Shares may be purchased once a year at a discount of 30% versus the defined purchase price.
Siegfried offers in all markets additional benefits which typically include contributions to pension schemes and insurance solutions in-line with market practices, legislation and customs.
Siegfried - a company you really can expect more.