Germany’s second largest bank, Commerzbank announced it was overhauling its bonus payment system, and the new one will come into effect on 01 January 2019. The new system will apply to 18,000 employees currently ‘outside a collective agreement’ and will for the most part do away with basing bonus calculations on individual evaluations. Only the small group of ‘Risk-Taker’ managers working abroad will receive financial individual performance recognition. As such Commerzbank’s policy has moved in line with that of Bosch, Deutsche Bahn, and Daimler.
“We want to streamline our remuneration system especially as our staff and managers are dissatisfied with the one that operates currently,” the head of Commerzbank HR, Bettina Orlopp explained at the start of October while announcing in the daily Handelsblatt publication that the bank was going to introduce a new bonus system from 01 January 2019. The new system will affect 18,000 managers. The new system will not apply to the 15,000 other staff members whose salary and remuneration structures
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