DHL 2009 Annual Report Download - page 107

Risks arising from human resources
Our employees are critical to our future success. For this reason, we want to be-
come the most popular employer in our sector. In general, there is the risk that we will
not  nd the right employees for the right positions at the right time. Moreover, we have
to compete for quali ed international executives.
We monitor this risk using internal and external measurement parameters.  con-
sulting  rm Universum, for instance, regularly surveys , students in  coun-
tries to  nd out who the most popular employers are.  is the only logistics company
to rank in the top   y. Internally, we measure employee satisfaction on an annual basis
in a survey of all Group employees.  e survey  ndings indicate that the dedication of
our employees has steadily improved over recent years. Given the fact that  was a
recession year, these  ndings were particularly encouraging.
We want to hire quali ed employees, use them to their full potential and foster loy-
alty amongst them.  us, vocational training in Germany will remain a key investment
in the future for us, even in economically di cult times and especially in light of demo-
graphic change. With regard to employee motivation, managers who are familiar with
the challenges of our sector and deal with their sta based on the principle of Respect and
Results play an important role. We support our managers with a number of programmes,
pay them fairly for their work, including providing performance-based incentives, and
o er them career opportunities in their home countries and abroad. By doing this, we
limit the risk of losing expertise and customer relationships to employee turnover.
Although we  nd the  nancial impact of these risks to be moderate, we see the
probability of occurrence as low thanks to the measures we have implemented.  is
risk has declined from the previous years based on the economic situation alone.
Financial risks
On  January , Deutsche Post  and Deutsche Bank  agreed to restructure
the transaction to sell the shares in Deutsche Postbank  held by Deutsche Post .
 e contract now comprises three tranches.
 e  rst tranche provided for the sale of  million Postbank shares via contribu-
tion as a non-cash capital increase in return for  million new shares in Deutsche Bank
 and via the rendering of payments and non-cash bene ts on the part of Deutsche
Bank  in connection with hedging transactions.  ereby any claim to payment of a
purchase price for the shares was waived.  e  rst tranche was carried out in the period
from April to July . Mechanisms designed to avoid possible market disturbances
were applied to the sale of the Deutsche Bank shares.
As at  December , Deutsche Post  was still in possession of ,,
Postbank shares. It will sell an additional  million Postbank shares in exchange for a
mandatory exchangeable bond with a cash value at the time of closing of  , mil-
lion and a   accrued interest per year that will mature in three years (second tranche).
 e bond was underwritten by Deutsche Bank  and will be exchanged for  million
Postbank shares on  February .
Employees, page 
Deutsche Post DHL Annual Report 
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