BMW 2010 Annual Report Download - page 32

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12 GROUP MANAGEMENT REPORT
12 A Review of the Financial Year
14 General Economic Environment
18 Review of Operations
41 BMW Group – Capital Market
Activities
44 Disclosures relevant for takeovers
and explanatory comments
47 Financial Analysis
47 Internal Management System
49 Earnings Performance
51 Financial Position
53 Net Assets Position
55 Subsequent Events Report
55 Value Added Statement
57 Key Performance Figures
58 Comments on BMW AG
62 Internal Control System and
explanatory comments
63 Risk Management
70 Outlook
The “Today for Tomorrow” project is one of the ways the
situation is being addressed. The project aims at carrying
out preventive measures to maintain a stable and pro-
ductive
workforce.
Designing competitive remuneration systems
Maintaining a competitive level of personnel expense
plays a major role in the success of the BMW Group. In
addition to focusing on cost, the aim is also to increase
efficiency at all levels of the business. The high degree of
motivation amongst employees and the positive corpo-
rate approach towards staff are maintained and under-
lined by a combination of rewards determined individu-
ally on the basis of performance and success. Flexible
and individually designed working time models repre-
sent a further important aspect. Remuneration, working
time rules and other benefits are reviewed and adjusted
as the need arises in close cooperation with employee
representatives.
Competitive advantages through excellent leadership
The BMW Group’s leading market position is largely
attributable to its workforce. In times of great complexity
and rapid change, outstanding leadership is of the high-
est importance in achieving the ambitious targets set
outin our Strategy Number ONE. Excellence in
leader-
ship relies on a common understanding of the concept
ofleadership. In 2010 we endeavoured to entrench this
common understanding at all levels of management.
Open dialogue between managers and staff is encouraged
and seen as an important aspect of our success. This is
exemplified by the E Change LIFE project, in which man-
agers design and organise workshops for all employees
engaged in development, encouraging managers and staff
to tackle the change process together.
Health management
The performance of the workforce depends on its skill,
motivation and, above all, its health. This fact will become
increasingly relevant in future, as the average working
life will have to be extended to allow for the anticipated
shortage of skilled workers as well as demographic
change. The situation will be exacerbated by increasing
demands being placed on the workforce in an ever-chang-
ing working environment.
We endeavour to maintain and promote the health of
ouremployees by encouraging health awareness and a
healthy lifestyle. We also attach great importance to ful-
filling health and safety requirements in the workplace.
In order to achieve this, we have developed an integrated
operational concept called Health Management 2020.
The aim is to create a concept which brings together the
main issues relevant for promoting the general health
ofthe workforce. Our integrated health management
programme is therefore an important aspect of sustain-
able
governance within the BMW Group.