2. Compensation Concept
To support the attraction, motivation and retention of qualified and committed employees throughout the world, Clariant’s compensation policy is based on the following main principles:
- Alignment with Business Strategy: Remuneration Components are designed to support the Clariant Business Strategy.
- Competitiveness: Clariant is conducting regular benchmarking studies to ensure compensation levels are adequate and in line with market practices.
- Compliance: Clariant’s compensation practices always follow local regulations such as laws and collective union agreements.
- Internal Equity: In order to ensure consistently fair treatment of employees working for Clariant, compensation guidelines and work instructions are in place.
- Performance Based Pay: Clariant’s Remuneration Elements aim to incentivize business and individual performance.
- Transparency: Remuneration Elements must be clear and transparent in order to be understood and appreciated.
In order to uphold these principles, the CoC analyzes and discusses market developments at regular intervals and considers the implications of these developments for Clariant. The Articles of Association (art. 26 ss) of Clariant Ltd – which have been approved in the AGM 2014 – therefore reflect Clariant’s commitment to market practice.
Compliance is a key element of Corporate Governance. It refers to compliance with the law and directives as well as with voluntary codes within the company. VIEW ENTIRE GLOSSARY