Porsche 2011 Annual Report Download - page 82

Porsche's management assessment process
was also pursued consistently. The results of this
process are decisive for placement decisions and
succession planning.
Again in the fiscal year 2011, the induction
program for new employees, Porsche Warm Up was
key for the optimal integration of the large number of
new employees who have assumed their new respon-
sibilities at Porsche. The program conveys extensive
company knowledge on processes, structures and
values; in 2011, it was even rolled out for the first
time to new employees from international subsidiaries.
Programs for nurturing new talent and
management training
The objective of Porsche's program for nur-
turing new talent is to identify, foster and retain young
high potentials in the group with a view to assigning
them more demanding tasks. Preparations for the
next wave of Porsche's talent nurturing program have
been completed and the program is ready to start
again in 2012.
The fifth round of Porsche Management Train-
ing (PMT) for experienced, high-performing managers
kicked off in 2011. With this program, Porsche wants
to build up networks, create a mutual understanding
of management and strengthen entrepreneurial and
cross-group mindsets and actions.
Equal opportunities and work/life balance
at Porsche
A key success factor for Porsche is the
diversity of its employees. In the fiscal year 2011,
a project was started to ensure, in a first step, that
men and women have equal opportunities. This en-
compasses numerous activities in the area of em-
ployee recruitment and training.
The intent is to further improve the frame
conditions for striking a balance between work and
private life. To this end, cooperation agreements with
external service providers have been prepared, for
instance, aimed at supporting and unburdening em-
ployees with regard to their private and family obliga-
tions. The first cooperation agreements are sched-
uled to be concluded in 2012.
New occupational pension scheme at Porsche
In 2011, the executive board and the group
works council agreed to restructure and improve the
occupational pension scheme by introducing a profit-
based component.
As of 1 January 2012, the former system,
which was pegged to the final salary, will be converted
to a defined contribution system comprising a fixed
component and a profit-based variable component.
Under the new system, the fixed contributions cover
employees' pensions at the current level. In addition to
this, Porsche will in future pay in further contributions
to the company pension scheme depending on the
development of the company's business.
This amendment allows Porsche employees
to additionally benefit from the company's business
development through their occupational pension
scheme. Supplementary to this, Porsche will continue
to offer employees the possibility of converting a
portion of their remuneration into an employer's pen-
sion commitment under the Porsche VarioRente
scheme. Again in the fiscal year 2011, the majority of
Porsche employees took advantage of this option.
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