human resources report 2019 · 2020. 11. 2. · the hr report provides you with an overview of the...
TRANSCRIPT
Human Resources Report 2019
Deutsche Bank
ChristianSewing ChiefExecutiveOfficer,DeutscheBankAG
“At home in Europe, networking with the world.”
Connectingworldsfor150years.
#PositiveImpact
Whatinspiredthefoundersofthisbankstilldrivesusnow:to createpositiveimpactforourclients,theeconomyandsociety.For 150years,DeutscheBankhasbeenconnectingworldstohelppeopleandbusinessesgettowheretheywanttobe.
Fromthebeginning,we’vebeenhereforthosewhowanttomoveforward.Forthecompanythatwantstocrossborders.Fortheinvestorseekingthenextopportunity.Forthepioneerwhowantstochangehowtheworldworks.Forthesaverandtheborrower.Foreveryonelookingforabetterwaytomanagemoney,raisefinanceordobusiness.Whatinspiredthefoundersofthisbankstilldrivesusnow:tocreatepositiveimpactforourclients,theeconomyandsociety.
A —Ourpeopleagenda6 Fostering a sustainable performance culture7 Interview with Fabrizio Campelli10 Our workforce at a glance
1 — Deliveryonourstrategy– the role of HR
12 Effectiveworkforcemanagement14 Workforce development16 Staffturnover17 Managing to the future
2 — Creatingamotivatingand engagingworkingenvironment
19 Having regular conversations makes asignificantdifference
20 Our organizational listening culture is based on three key principles
3 — Benefits&Wellbeing24 Benefits&WellbeingFramework25 Physical and mental wellbeing26 Social wellbeing27 Financial wellbeing
4 — Diversity&Inclusion29 Inclusiveculture&environment30 Diversity&Inclusionfocusareas
5 — Attractingtalent36 Recruitment with a focus on digitalization37 Graduates38 Apprentices and dual students39 Employer Brand40 Fostering career mobility
6 — Developingourpeople43 Keepingourpeople‘fitforthefuture’45 Training
7 — Developingourleaders47 Enhancing leadership development48 Developing leaders at every stage of their career48 Global high-potential acceleration programs50 Senior leadership development
8 — Rewardingperformance52 Compensation strategy and framework52 Pool determination methodology53 UK Gender Pay Gap Report and
the German Remuneration Transparency Act53 Digital developments
9 — Closingremarks55 About the report56 Imprint
Content
1
6 Fostering a sustainable performance culture
7 Interview with Fabrizio Campelli
10 Our workforce at a glance
OurpeopleagendaA
Fosteringasustainableperformanceculture
Fosteringa sustainableperformanceculture is essential to remaincompetitive inanever-changingworld.
TheHumanResources(HR)functionplaysacriticalroleindefiningandfosteringkeyorganizational factors, enabling and ensuring sustainable value creation and thusunderpinningtheEnvironmental,SocialandGovernance(ESG)agenda.Thisincludesour positive impact in areas from employee engagement,working environment,well-beingofourworkforce,fosteringdiversityandinclusion,continuousinvestmentinourtalentpipeline,developmentofourworkforce,toafairandtransparentremunerationofperformance.
Underpinningthebank’slong-termoutcomesisagrowingfocusonESGfactors,whichare increasingly integrated into investment decisions and capitalmarkets to supportresponsibleandethicalinvestment.AtDeutscheBank,wearecommittedtodeliveringastrongESGpropositionto:
— oursocietyasawhole–responsibleandsustainableinvestmentcanbenefitthe planet
— ourclients–withsupportfrominvestorsandgovernments,itcouldleadtosustainablereturns
— ouremployees–environmental,socialandgovernancefactorsmayleadtotangibleimprovementsinemployees’workinglives,aligningDeutscheBankactionstoouremployees’ethicalconvictions,whilstenhancingpersonaldevelopment,motivationandloyalty
— prospectiveemployees–DeutscheBank’saimtobenefitsocietycomesat atimewhencandidatesareseekingemployerswhomakesustainedsignificantcommitmentstooperatinginanethicalway
TheHRReportprovidesyouwithanoverviewofthekeyHRinitiativesin2019andtheirimpact on the wider organization. In his interview to introduce the report, FabrizioCampelli,ChiefTransformationOfficer,outlinesHR’scentralroleinthebank’stransfor-mation, the importance of embracing technology, and how we are transforming theway wework.
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Deutsche BankHR Report 2019
Our people agenda
InterviewwithFabrizioCampelli:“Inordertotransformthe bank,weneedtotransformthewaywework.”
DeutscheBank’snewChiefTransformationOfficerdiscusseshowthebankispreparingitstalentforthefutureofwork,andtheroleofHRinadvisingbusinessesthroughsignificantchange.
Fabrizio,inyourroleasChiefTransformationOfficeritisyourmandatetomonitorandensurethatweexecuteourtransformationsuccessfullyoverthenextthreeyearsandwedeliverwhatwepromised.WhatistheroleofHRinthiseffort?
It isnocoincidence that theTransformationOfficeandHRare adjacenttoeachother.Totransformthebank,weneedtotransformthewaywework.
The most fundamental role for HR will be to advise our business andinfrastructureareasthroughsignificantchange.Thisincludes new organizational structures, using data analyticsmore intelligentlytoimprovedecisionmaking,andupskillingstaffforthefuture.
Weneedtostrengthenouroffertoouremployees:thepeoplewho choose to stay and commit to Deutsche Bank and the oneswhowanttojoin.Recently,wehaveseenalotofpositivemomentumbehindwhatthatbankisachieving,andthisisbuildingcommitmentandinterestinourbank.Wethenneedtodoourjobinattractingtherighttalent,enablingourpeopleandprovidingopportunitiesfordevelopmentandgrowth.
Youmentionopportunitiesbuttwofactorscouldworkagainstthis:DeutscheBank’sheadcounttargetandtheimpactoftechnologyonroles.Whatisyourview?
Onthefirstfactor,wewillalwaysneedgreatpeopleandleadersacrosstheglobe.Regardlessofheadcounttargets,thesuccessofourbankwillcomedowntothequalityofourpeople.
Onthesecondfactor,technologyis,andhasbeenforawhile,automating tasks and there is no doubt that some roles are being fundamentallyreshaped.AsanHRfunctionweareplayingavitalrolehere–inredefiningprofiles,ensuringinnovativeupskillingmeasures but also in guiding our employees through this change andtakingthemwithusonthejourney.Weneedtoidentifyandtake advantage of the opportunities technology provides us in all areas–ultimatelyitreleasesusfromadministrativework,leavingmoretimeforourpeopletoadvisetheirpartners.
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Deutsche BankHR Report 2019
Interview with Fabrizio Campelli
Wetalkalotaboutthefutureofworkandtheimpactonjobsandskills.WhatdoesallthismeanforourHRprocessesandourabilitytodevelopemployees?
The impact issignificant,startingwith technologybutalsointermsofwhatouremployeesexpectfromus.Weneedtorethink all the touch points we as an organization have with our employeesalongtheirlifecycleatDeutscheBank.
Ontheonehand,wealreadyseetheinfluenceofdata.Thereishugepotentialhere.Oneisanalysingdatamoreeffectivelyinhowwedevelopemployees.Inotherindustries,moreandmoreorganizations better understand the power of data – whether it ismanagingperformance,thelearninganddevelopmentjourneyorwhetheranindividualcouldbesuitableforcertainjobs.Wecandoalotbetterinusingalltheinformationwehave,ofcourseinanappropriateandpermissibleway,tocreateabetterfitbetweenourpeopleandwhatwehavetooffer.Andweareontherightpath–wetookasignificantstepforwardin2019withtherolloutofWorkdayglobally.
Butthat’sonlypartofthestory.Asagroup,wearetakingarefocusedapproachinattractinganddevelopingourpeople.Thelast 150 years have proven that the power of our organization isbuiltonourworkforce.AsanHRfunctionweneedtoensurethat we foster a working environment that responds to our employees needs and enables them to deliver what we promise toourclientsandstakeholders.Therefore,acontinuousdialoguebetweenmanagersandemployees,andanopenfeedbackculture,arefundamentaltooursuccess.Theopenreflectionandself-awareness on strengths and room for improvement enable the bank to implement the right development measures and allow us to create a working environment focused on growth andprogress.
Youmentionedemployeeengagementandcommitment–howcanitbereinforcedinlightofthe challenging transformation we are in the midstof?
Our business mix and the type of clients we want to work with willevolveoverthecomingyears.Aswegothroughthisjourney,weneedtoengagewithourpeopleinnewways,explaintheirroleinoursuccess,andbetransparentabouthowtheyareevaluated.
This journey will not be straight forward and we will needmotivatedindividualswhowanttomakeapositivedifferenceandhelpsustainthebankforthenext150years.Tobesuccessful,we need to develop our people management practices towards amorebalancedapproachthatnotonlypayscompetitively,butalsofocusesonculture,trainingandmobility.Oneexampleiswe overhauled our training and development approach to be moredigital,morebitesized,andavailableanywhere.Thishashadadramaticeffectonengagementwithtrainingresources.
HowdoyouensureDeutscheBankremainsanexcitingplacetowork?
A big part of the answer is our working practices and under-standingwhatpeoplewantfromtheiremployer.Weneedtochannelourrecruitmentandretentioneffortstotargettherightpeopleandbuildaleadershippipelinethatwillsustainus.Weare also improving the experience for our people by providing bettertechnologytosupportthewaywework.Thiswillincludecollaborationandworkflowtoolstocreateamoreagileworkenvironment.Weofcoursealsoneedourpeopletotakethejourneytooandbeopentonewideas.
FinallyFabrizio,whatarethecharacteristicsyouthinkthebankwillneedtomakethestrategyasuccess?
I have been at Deutsche Bank for 16 years and one of the main things I have learnt is that Deutsche Bank values entrepreneurial thinking.However,sometimestherearetoomanyprocessesthatmakeitmoredifficultforthisthinkingtoblossomintomarket,client, and employeeready ideas. Removing unnecessarybarrierssoourpeoplecanbecreativewillbeimportant.Focusis required here and with the setup of the transformation agenda weareexactlyontherightpath.
The bank is also good at identifying talented employees and givingthemachance.ThatissomethingwecannotloseandHR has an important role to play in identifying opportunities and empoweringpeoplewithlessexperiencebutgreatpotential.Thishastobehandledcarefullytomanagerisks,butweneedtokeeptrustingourbestperformers.
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Deutsche BankHR Report 2019
Interview with Fabrizio Campelli
Leadership is a topic we spend a lot of time on at the Management Board.Thereallygoodleaderscandelegateeffectivelyandcreateasafeenvironmentforpeopletospeakup,whilecontinuouslyproviding quality feedback and coaching. Ultimately, goodleaders are those who can step back and let people discover theyhaveitwithinthemselvestosucceed.
Finally,weneed therightculture.OurDNA isGermanandEuropean,andinmanywayswehavenotfullyappreciatedhowpowerfulthisis.Butwearealsoproudofourglobalnetworkthatenablesustodeliverforourclients.Beingglobalalsomeansweareculturallydiverse,andbuildingamoreinclusiveworkenvironmentwillremainatoppriorityforthebank.Havingdifferentviewpointsandconstructivedialoguecanhelpusavoidtheissuesofthepast.Ipersonallythinkhavingpeoplefromdiverse backgrounds and experiences makes us much better at being able to deliver for our clients and coming to work more enjoyable.
Ultimately,wewanttocreateaworkplacewhereouremployeescanthrive,havefunandmakeadifference.
Thankyou,Fabrizio.
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Deutsche BankHR Report 2019
Interview with Fabrizio Campelli
Ourworkforceataglance
37,266Private Bank
10,095Investment Bank
3,924Asset Management
27,679Infra structure
1,205Capital Release Unit
Corporate Bank7,428
87,597Total FTE
APAC
EMEA
Germany
18,874
19,672
40,491
Americas
FTE per region
8,561
12,768ParttimeemployeesinHeadcount
59Countriesrepresented
headcount in %headcount in %
based on HR People Survey results see chapter 2
Careersite visitors
Socialmedia engagements
Training expenses
www
58 %Commitment
66 %1.2 M70.0 M € 1.3 MEnablement
Women Men
46.353.7
>49 years
29.2
<30 years
15.1
30 -39 years
28.6
40 -49 years
27.1
Hiring in 2019 in FTE
3.8kofficersand 3.8knon-officers
Voluntary staffturnover
8.0 %
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Deutsche BankHR Report 2019
Our workforce at a glance
1 Deliveryonourstrategy– the role of HR
12 Effectiveworkforcemanagement
14 Workforce development
16 Staffturnover
17 Managing to the future
1
Deliveryonourstrategy–theroleofHR
On July 7,2019,DeutscheBankannounceditsmostfundamentaltransformationindecadesandaprofoundrestructuringofitsbusinesses,withtheaimofimprovingprofitability,shareholderreturnsanddrivinglongtermgrowthbycreatingaleaner,moreinnovativeandmoreresilientbank.
Toexecutethistransformation,thebankwillexitbusinesses;reducecostsbyoverhaulingprocessesandinfrastructure;investintechnology,digitalizationandgrowth;andmanageandfreeupcapital.
SuchsignificanttransformationhasbroadimplicationsandchallengesforDeutscheBank’speopleandworkforceagenda.Aspartofourcostcontrolandfulltimeequivalent(FTE)planning,itrequiresasizableworkforce reduction to approximately 74,000 by 2022.
Theenvironmentinwhichweoperateisconstantlyevolving.Intimeslikethis,ourHRexpertiseplaysacrucialroleinachievingtheorganization’ssustainableperformancegoals.In2019,wecontinuedtosupportthebusinessinrealizingtherequiredchangesandpromotingteamstability.Weadvisedmanagersonhowtoattractandretaintalentinthecurrentuncertainenvironmentandworkedtostrengthenmanagers’focusonperformanceanddevelopment,withtheoverarchingobjectiveofplacingtherightpeopleintherightrolesattherighttime.Wealsocontinuedtobuildonourdigitalizationstrategy,designingintuitiveprocessesgearedtowardsaddingvalueandimprovingtheemployeeandmanagerexperience.
Effectiveworkforcemanagement
Withthesignificanteffortsunderway,itiscriticalthatasanHRfunctionweprovidethebusinesswithtools,frameworksandanalysesthatenableustoeffectivelymanageourworkforce.Thisincludessupportingmanagersinperformingtheirdailytasks,fromrecruitmenttodevelopmentandprovidinginsightstoseniormanagement,whichwillinturnsupportstrategyandplanningactivityandenablebetterinformeddecisions.
In 2019,Workdaywasimplementedasanewbankwideplatformtosupportthebank’sstrategicinnovationanddigitalagenda.Theplatformprovidesmanagersandemployeeswiththenecessaryprocessesandtoolstoperformdaytodaypeoplemanagementactivitiesonaselfservicebasisalongtheentireemployeelifecycle,whilealsosupportinginformationandreportingneeds.
Alignedwithoneofthebank’skey2019 HR initiatives to “strengthen our ability to utilize data-driven insights to enableimpactfulstorytelling,improvedecisionmakingqualityanddrivemeasurableaction”,HRisdevelopingandupskillingitsWorkforceManagementandAnalyticsfunction,capabilities,productsandservices.Measuresincludetheapplicationofadvancedtoolsandtechniquestouncoverpatterns,linkagesandtrends,aswellaspredictiveanalytics.
InordertosupportDeutscheBank´sglobalinitiatives,regulatoryneedsaswellasstrategyandplanning,ouroverarchingobjectivegoingforwardismoreevidencebasedmanagementofourpeopleandworkforceagenda.Wearealreadydeliveringsolidreporting,metricsandkeyperformanceindicators(KPIs)andmovingtowardsforwardlookingmodellingandpredictiveanalytics–seethestaircasemodelbelow.
Theenvironmentinwhichweoperateisconstantlyevolving.Intimeslikethis,ourHRexpertiseplaysacrucialroleinachievingtheorganization’ssustainableperformancegoals.
Key2019HRinitiatives:“strengthenourabilitytoutilizedata-driveninsightstoenableimpactfulstorytelling,improvedecision-makingqualityanddrivemeasurableaction”
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Delivery on our strategy – the role of HRDeutsche BankHR Report 2019
Metrics &KPIsReporting
Analytics
Modelling
Calculation/formula drivenmeasures&
benchmarks
Multi-dimensional; deliveringinsights
Forward looking modelling&
predictiveanalytics
InordertosupportDeutscheBank’sglobalinitiatives,regulatoryneedsaswellasstrategyandplanning,ouroverarchingobjectivegoingforwardisamoreevidence-basedmanagementofourpeopleandworkforce agenda.
Dashboard& demographics
OurjourneyfromreportingtomodellinginWorkforceManagement&PeopleAnalytics
In 2019,wehavebeenmeasuringprogressagainstDeutscheBank’speopleandworkforceagendabymappingKPIsagainsttheidentifiedstrategicgoals.ThisprogressisreportedandreviewedbytheManagementBoardandotherseniormanagementcommittees.
KPI Rationale Goal
Restructuring support Our transformation strategy requires sizeable workforce reductions as part of our cost control andFTEplanning.
By 2022 FTE employee reduction to74,000
Internal mobility1 Measuring the level to which we foster the movement of employees to new roles across the bank(bothwithinandacrossdivisions)bringsthebenefitofenrichingemployeecareerpaths,transferring key skills and experience across the bank,aswellasidentifyingopportunitiesforredeployment in areas that have seen business change.
By 2019 Crossdivisional:2.4%ofheadcount Intradivisional:1.5%ofheadcount Totalmobilitygoal:3.9%ofheadcount
Diversity&inclusion1 InMarch2019,theManagementBoarddecidedto restate the voluntary group-wide aspirational goalsfortherepresentationofwomen.Thegoals set for December 2021 focus on the topthreecorporatetitlesindividually(in%ofheadcount).
By 2021 Representationofwomen: ManagingDirector(21%) Director(28%) VicePresident(35%)
Feedback culture The Feedback Culture Survey was introduced in 2019 based on Deutsche Bank People Surveyevidenceshowingasignificantimpactof regular and helpful conversations between managers and employees on commitment and enablement.Thesurveyservestoassessthequality and frequency of top-down and bottom-up feedback and appreciation and aims to reinforce the right behavior and identify areas for furthersupport.
By 2019 > 70 % favorable2
1Thegoalssetforthediversity&inclusionandinternalmobilityKPIstakeintoaccountthevolumesachievedoverthepastthreeyearsandaresetagainstastretchaspiration,takingintoaccountthebusinessandworkforcecontextthroughout2019(andbeyondfordiversity&inclusion).
2ThefeedbackculturegoalthresholdisalignedwiththethresholdsappliedintheDeutscheBankPeopleSurvey.
KPIs – People and workforce priorities in 2019 and beyond
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Delivery on our strategy – the role of HRDeutsche BankHR Report 2019
WorkforcedevelopmentOn May 29,2019,theManagementBoardannouncedthatthenumberoffulltimeemployeeswouldbereduced to less than 90,000 by the end of 2019.1Whileimplementingourstrategy,asofDecember31,2019,Deutsche Bankhad87,597employees,adecreaseof4,140 employees or 4.5 % in 2019.Allregionshavebeenimpactedbytherestructuringmeasures.Eveninthecontextofimplementingtheabovementionedrestructuringmeasures,recruitingtalentcontinuestobeakeypriorityforDeutscheBank.Thus,fillingfrontofficerolesingrowthareas(e.g.GlobalTransactionBanking,WealthManagementandAssetManagement),andreplacingvoluntarystaffturnoverinoperationcentervacancieswasagainapriorityin2019,aswashiringtalenttomeetthegrowingdemandinregulatoryroles(e.g.AntiFinancialCrime,Audit,andCompliance).
– 1,149 – 3.0 %
+ 135 + 1.4 %
– 88 – 2.2 %
Private Bankdriven by the reductions in global functionscomprisingbackofficeand support functions
− 1,784 − 6.1 %Infrastructureprimarily driven byreductionsinCOO(−889) andinFinance (−494)
− 1,329 − 52.4 %
Capital Release Unitmainly driven by restructuring of the Equities Business including
EquitiesResearchprimarilyintheUS,APACandUKandthedemer-ger of the private and commercial banking business in Portugal
Investment Bankmainly driven by increases
in CIB Technology
Asset Managementprimarily driven by reductions in the US and UK
+ 75 + 1.0 %
Corporate Bankmainly driven by increases
in CB Central Functions
Corporate Bank
Private Bank
Investment Bank
Asset Management
FTE overview
1 Pleasenote,whenreferringto‘employees’,calculationsarebasedonFTEunlessotherwisestated.
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Delivery on our strategy – the role of HRDeutsche BankHR Report 2019
FTE development by divisionFTE in k
2019 2018 2017
CorporateBank(CB) 7.4 7.4 7.6InvestmentBank(IB) 10.1 10.0 10.7PrivateBank(PB) 37.3 38.4 39.3AssetManagement(AM) 3.9 4.0 4.0CapitalReleaseUnit(CRU) 1.2 2.5 4.3Infrastructure 27.7 29.5 31.6Total1 87.6 91.7 97.5Embeddedexternalworkforce(contractorsandagencytemps)2 5.2 5.3 6.5 1In2019,companyhealthinsuranceDeutscheBankaligneditsFTEdefinitionwhichdecreasedthe
GroupnumberasofDecember31,2019by0.1k(priorperiodsnotrestated)2In2018,BHWKSGaligneditsFTEdefinitiontoDeutscheBank’s,whichincreasedtheGroupnumberasofDecember31, 2018
by0.1k(priorperiodsnotrestated)2019includingagencytempsofPostbank(0.2),priorperiodsnotadjusted
NetFTEdevelopmentineachregionwasasfollows:
– Germany(–1,178;–2.8 %)drivenbytheimplementationofrestructuringmeasures,primarilyinPrivateBankrelatedtoglobalfunctionsofthePrivateBankandInfrastructurefunctions;
– NorthAmerica(–876;–9.4 %)drivenmostlybyreductionsinCapitalReleaseUnitandinCOO;
– LatinAmerica(–27;–14.3 %)duetoreductionsprimarilyinBrazilandMexicoasaresultoftheimplementationofourfootprintstrategy;
– EMEAexGermany(–1,200;–5.7 %)mainlydrivenbyreductionsintheUKrelatedtotheCapitalReleaseUnitandtoInfrastructurefunctions;furthermoredemergeroftheprivateandcommercialbankingbusinessinPortugal;
– Asia/Pacific(–859;–4.4 %)primarilydrivenbyreductionsinCOOandinCapitalReleaseUnit.
FTE development by regionFTE in k
2019 2018 2017
Germany 40.5 41.7 42.5Europe(excludingGermany),MiddleEastandAfrica 19.7 20.9 23.5Americas 8.6 9.5 10.6Asia/Pacific 18.9 19.7 20.9Total 87.6 91.7 97.5
As the bank worked towards its headcount targets in 2019,anewprocessforhiringwasimplementedtorestricthiringtopositionsthatareviewedascriticaltothebank’ssuccessandfuturegrowth,withagreateremphasisoninternalmobility.Atthesametime,furtheropportunitiestoimproveprocessesandtechnologyusagewereidentified.
Asaresult,thebankhassignificantlyreducedexternalhiresinthefourthquarterof2019 whilst focusing on DEVELOPMENTOPPORTUNITIESforexistingemployees.
Asthebankworkedtowardsitsheadcounttargetsin2019,anewprocessforhiringwasimplementedinordertosupport Deutsche Bank’sstrategy.
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Delivery on our strategy – the role of HRDeutsche BankHR Report 2019
StaffturnoverTotalstaffturnoverratesarecomprisedofexitsfromresignationsanddeparturesinitiatedbythebank,includingrestructuringorperformancerelatedterminationsandterminationsrelatedtofixedtermcontracts.
Totalstaffturnoverrate
12.6 % 8.0 %Totalstaffturnoverof
in2019is– 0.5 %pts lowerthan2018( 13.1 % )
in2019is– 0.4 %pts lowerthan2018( 8.4 % )
Voluntarystaffturnoverof
In 2019,thetotalstaffturnoverdecreaseddrivenbyalowervoluntaryturnoverrate.Thevoluntarystaffturnoverrate was at 8.0 % in 2019(2018:8.4 %).Theslightdecreaseof0.4 percentage points is primarily due to a lower turnoverinAsia/Pacific(2019:17.0 %,2018:18.0 %)andinEMEAexcludingGermany(2019:7.7 %,2018:9.2 %).VoluntarystaffturnoverrateinGermanyincreasedby0.5percentagepoints(2019:2.5 %,2018:2.0 %)primarilyduetohigherturnoverinPrivateBank.However,thisturnoverremainsatanormallevel.
TotalstaffturnoverrateFTE in %
2019 2018 2017
Totalstaffturnoverrate 12.6 % 13.1% 12.0%
TotalstaffturnoverratebyregionFTE in %
Germany Europe(excludingGermany),MiddleEastandAfrica Americas Asia/Pacific
0 12.5 25
17
7.012.7
18.019.1
18
6.114.1
23.821.1
19
6.413.0
23.220.4
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Delivery on our strategy – the role of HRDeutsche BankHR Report 2019
VoluntarystaffturnoverrateFTE in %
2019 2018 2017
Voluntarystaffturnoverrate 8.0% 8.4% 7.8%
VoluntarystaffturnoverratebyregionFTE in %
Germany Europe(excludingGermany),MiddleEastandAfrica Americas Asia/Pacific
0 12.5 25
17
2.08.5
13.016.8
18
2.09.2
14.118.0
19
2.57.7
14.417.0
Managing to the future
HR contributes to the assessment of senior management performance by tracking HR priorities and goals (i.e.genderdiversityandfeedbackculture)aspartofaBalancedScorecard.Establishedin2017,theBalancedScorecardbringstogetherthebank’skeyperformanceindicators(KPIs)toprovideclarityaroundexpectationsandfacilitateclosercollaborationacrossdifferentareasoftheorganization.TheKPIs includefinancial,performance,risk,peopleandculture,digitalandinnovationmetrics.
Integral to the strategic planning process is also the analysis of over 100,000 data points to ensure that our strategyisontrack.Theinsightsgainedfromtheanalysisserveasguidanceformanagementdecisionmaking.For 2019andtheforthcomingthreeyears,detailedplanning,forecastingandreportingofFTEmovements(includinghires,voluntaryandinvoluntaryleavers)areconductedbydivisionsandregionstoachieveFTEtargets.
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Delivery on our strategy – the role of HRDeutsche BankHR Report 2019
19 Having regular conversations makes asignificantdifference
20 Our organizational listening culture is based on three key principles
Creatingamotivatingand engagingworkingenvironment
2
Creatingamotivatingand engagingworkingenvironment
Vital elements of a successful working environment and a sustainable performance culture are the freedom tospeakupandtrustamongcolleaguesandintheorganization.Equallyimportantareaccountabilityandacollaborativeattitude.
Havingregularconversationsmakesasignificantdifferenceandlaysthefoundationforatrustingenvironment
DeutscheBankputsmuchcareintohiringtherightpeople,developingthemandensuringtheyhavetherelevantskills.Ouremployees,inturn,needtobeheard,included,recognized,caredforandprovidedwithpositiveleadershiptopromoteproductivity.Strongrelationships,opencommunicationandlearningfromfeedbackarekeytobuildingthisenvironment.Wehavethereforemaderegulardialogsbetweenmanagerandemployeeacentralfeatureofhowwemanageanddevelopperformanceandcareersinasustainableway.
Asafoundationtobuildingthisenvironment,ouremployeesneedandwanttounderstandexpectationsanddesiredstandardsofdelivery,behaviorandconduct.Theseareclearlycommunicatedtothemintheintegrated Consequence Management Framework(iCMF)aspartofTotalPerformance,thebank’sapproachtomanaginganddevelopingperformanceandcareers.AsourTotalPerformanceapproachevolves,wewillcontinuetoprioritizecontinuousconversations.
ThePeopleSurvey,ourbankwideflagshipsurveyallowsustotestorganizationaldevelopmentandlinkagesonanannualbasis.InSeptember2019,allDeutscheBankemployees(includingPostbank)wereinvitedtoparticipate.1 The 2019 response rate was 47 %(46,152employees)and58,000commentswereprovided.The2019andpriorresultsmaketransparentthattalkingtoeachotherregularly(onceamonthormorefrequently)makesasignificantdifferencetoemployeemotivationandtheirproductivity,aswellastotheircommitmenttoremainatDeutscheBank.Thetablebelowillustratestheimpactofmanagersandemployeesgivingandreceivingfeedback,mutualappreciationandattendanceratesforteammeetingsoncommitmenttothebank,enablementandconfidencetospeakup.Regularconversationsfosteratrustingenvironmentwhereemployeesfeelcomfortableaddressingissuesthatneedtoimprove,changeorstop,suchasunderperformance,inefficienciesorcasesofmisconduct.Theyalsohelpfosterresiliencetodealwithstressfulsituationsandtrustinleadership–measuredonaregularbasis(59 % in 2019 / 60 % in 2018)inthesamecontext.Theindexdisplaysthetrustlevelinseniormanagementandrelatedseniormanagementattitudesregardingethics,integrityandwalkingthetalk.
+17+20+17+16
Receiving feedback
Beingasked forfeedback
Being appreciated
Attending team meetings
+22+28+20+23
+22+26+21+23
Impact on Commitment Impact on Enablement Impact on Speak Up
Impact of regular conversationsin %pts
1 Throughoutthisreport,2019scoresincluderesultsofPostbank(unlessotherwisespecified).InordertoprovidealikeforlikemeasureofprogresssincetheDeutscheBankPeopleSurvey2018,trendsin2018atthebank’soveralllevelexcluderesultsofPostbank(unlessotherwisespecified).
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Deutsche BankHR Report 2019
Creating a motivating and engaging working environment
Appreciation is particularly critical in helping people voice their concerns and take the right actions in line withthebank’svalues,beliefsandprinciples.
Tofurtherfosteranopenenvironment,wehaveintroducedAnytime Feedback to help our colleagues to pro-activelyrecognizethecontributionsofothersacrosstheorganization,regardlessofwheretheyare.Moreover,the Get Feedbackfunctionalityenablesemployeestorequestfeedbackfromothers,inadditiontoallowingmanagerstorequestfeedbackontheirbehalf.Aquarterlyfeedbackculturesurveytracksprogressacrosstheorganizationonaregularbasis.TheresultsofthesurveyareincludedintheManagementBoard’sbalancedscorecard.
Wehavestoppedusingsingleperformanceratings,andinsteaduseTotal Performance Indicators as a way ofreportingontheseconversations,focusingonthewayofworking,aswellasonwhatouremployeesdeliverandtheircapabilities.Fromanemployeeperspective,theintroductionofTotalPerformanceaimstoincrease understanding of strengths and development areas via regular and meaningful conversations with themanager.Themostimportantpartofourjourneytoanopenenvironmentistosharefeedback(whetherformalorinformal),discusscareerdevelopment,andlistentoeachother,bothonapersonalandorganizationallevel,toensureweunderstandanychallengesandmakegooduseofopportunities.
Ourorganizationallisteningcultureisbasedonthreekeyprinciples
Addressinggreyareas. As part of creating a Speak Up culture,weintroducedHRwide Grey Area pilot workshops in 2019,whichwererungloballywith270participantsintotal.DuringtheCulture, Integrity and Conduct(CIC)initiative,alldivisionsandfunctionswereaskedtohavestructuredconversationswiththeiremployeesonpotential“greyareas”tocreatea`speakupandlistenup´environment.Theworkshops’aimwasto:
– identify and create a better understanding of relevant themes
– engage with the organization to raise awareness
– determine approaches for good decision making
Askingemployeesforregularfeedback.Basedonyearsofresearch,weknowthatemployeesneedasenseofpurposeandanenvironmentinwhichtheycanbeeffective.Highlyengagedemployeesare36 % more likely to remain in an organization and employees with higher than average engagement are more likely to performbetter(AonHewitt).
Thisiswhyengagingwithemployeesandmeasuringthatengagementissoimportant.Requestingandgivingfeedbackisalsocriticaltoahealthyspeakupculture,whichwemeasurethroughourannualengagementsurveysandmonthlylifecyclesurveys(sentimentandbehavioralexperience).Wewillcontinuetolistentoemployees’processexperiencetounderstandanddriveprioritizationforcontinuousimprovements.Wewillfocusonsolvingspecificproblemsandimprovingthequalityofcommunicativeexchangesforincreasedemployeesatisfaction,empowermentandcommitment.Thisrequireschangesinmindsetandbehaviorandbeingmoreproactiveinhowwelisten. RESEARCH indicates that 42 % of all employee feedback interactions are withmanagersratherthanwithHR.Employingdigitalsatisfactionmeasurementandembeddingemployeeexperiencedesignintheworkflowacrosstheentireorganizationwillenableustoidentifyopportunities,aligntheorganizationtoaunifiedtargetandbenchmarkwithotherorganizations.Viableplanswithmeasurablegoalsinformbroaderstrategy,empowerlocalteamstoactandimproveemployeeexperience.
Wealsoundertakelifecyclesurveyscoveringkeybehavioralexperienceaspectsofemployment(e.g.onboarding,integration,internalmoversandvoluntaryleavers).Moreover,selfservicesurveysonspecialtopicsprovideemployees with additional means of expressing their views on potential improvements and issues to be addressed.
Theorganizationallisteningcultureisbasedonthreekeyprinciples:–Addressinggreyareas–Askingemployeesforregularfeedback
–Takingstock–theannualpeoplesurvey
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Deutsche BankHR Report 2019
Creating a motivating and engaging working environment
OneexampleforpeopleengagementinitiativesatDeutscheBank:
InSeptember2019theInfrastructureareasforoperationsandtechnologytestedanewformatofcross-functionalandcross-regionalemployeeengagementwithgreatsuccess–ThePeopleWeek.
Eachdaywasthemedwithaspecifictopic,frommotivationtoleadership,withemployeesinvitedtojoinaseriesofeventsto learn,hearandnetworkwithcolleaguesgloballyandintheregion.350 employeeeventstookplacewithfeedbackshowinga clearpositiveimpactonemployees‘enablementandunderstandingof key topics.
Takingstock–theannualPeopleSurvey. 2019surveyresultsprovideuswiththeindicationthatthebank’sperceivedworkplacequalityisrising.AttheheartofthesurveyarethekeyindicatorsCommitmentandEnablement,whichbothimproved,aswellasthebank’sValuesandBeliefs.
Compared to previous year commitment and enablement have improved
Engagement with the bank‘s values
58 %Commitment
66 %Enablement
86 %haveagood understanding of Deutsche Bank‘s values.
53 %haveseenachangeinbehaviorwithrespectto riskmanagement,control and compliance.
64 %believeDeutscheBank‘svaluesarehelpingustoperformresponsibly.
2017
2018
57 %
57 %
2017
2018
2019
62 %
58 %
63 %
2019 66 %
There was an improvement in 36 of the 53questions,and19 of these 36 results have seen ongoing year-on-year improvement since 2017.Peoplefeeltheyhavetheinformationnecessarytodotheirjobwellandarolewhichmakesgooduseoftheirskills;theyalsohaveclarityonstandardsandthusanincreasedabilitytomanagerisks.
Thebank’sperceivedworkplacequalityisrising.
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Deutsche BankHR Report 2019
Creating a motivating and engaging working environment
Therearethreekeyinsightswecantakefromthisyear’sSpotlightPeopleSurveywhereconsistentrolemodellingbyseniorleadershipisneededtoacceleratebehavioralchanges:
– MakeregularmanageremployeeconversationspartofourorganizationalDNA
– Speedupdecisionmakingbyincludingpeopleinsolutionfinding,reducemicromanagementanddefineclear roles and responsibilities
– Improve link between employee feedback and resulting action
Taking up key insights to make progress sustainable
High quality manager- employee
relationship
Decision making
Showing people their voice
has been heard
Quick wins
Take targeted action
Continue to tackle
SeniorLeaders
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Deutsche BankHR Report 2019
Creating a motivating and engaging working environment
Benefits&Wellbeing
24 Benefits&WellbeingFramework
25 Physical and mental wellbeing
26 Social wellbeing
27 Financial wellbeing
3
Benefits&WellbeingFramework
Werelyonhealthy,engagedandwellsupportedemployeestodotheirbestworkand,moreimportantly,enjoytheirlivesinsideandoutsidetheworkplace.Wearethereforecommittedtofosteringasustainableworkenvironment that focuses on 1)physical,2)mental,3)socialand4)financial.Acrosstheglobe,weofferaround900benefitprogramstolendindividualsupportandhelpourpeopledeveloptheirfullpotential.
Werecognizeouremployees’physicalandmentalhealthandwellbeingashighlyimportant,deservingbothprotectionandpromotion.Whilealsoemphasizingindividualresponsibilityintermsofpersonalhealth,DeutscheBankconsidershealthmanagementtobeanintegralpartofourleadershipandgoodgovernance.Employeesbenefitfromhealthcareasanessentialelementinbuildingandsustainingafulfilled,successfulandrewardingworklife,whilethebankbenefitsbyattractingtalent,retainingqualifiedstaffandsecuringprosperityandsustainablesuccess.Wearethereforecommittedtotakingeveryreasonablemeasuretoprovideasafeandhealthyworkingenvironmentin accordancewithlegalrequirementsalongsideadditionalprogramsandmeasurestopromoteourpeople’shealthandwellbeingintheworkplace.
OurcomprehensiveGlobalWellbeingFrameworkisthefoundationofourwellbeingstrategyandactivities.
The pillars of the Global Wellbeing Framework
Financial Supportknowledgeandcontroloverfinances,protectionagainst the unexpected andbuildingsavings
SocialEncouragehealthywork-life balancebyallowingflexible timemanagementandvaluinginvolvementwithfamily,friends, co-workersandwidercommunity / society
MentalFostermentalhealthbyprovidingpreventivesupportfor issues such as stress, depressionandanxiety
PhysicalImprovehealthandlifestylebehavior,takestepstopreventdisease,manageexisting conditions
24
Benefits&WellbeingDeutsche BankHR Report 2019
PhysicalandmentalwellbeingWebelievethatwecanmakeapositivecontributiontothegoodhealthofourpeople.Amidrisingdemandsinthedaytodayworkofouremployees,wehaveplacedparticularfocusontheirmentalhealthbyprovidingactivesupport–bothtothoseaffectedandtothoseclosesttothem.Weactivelyencourageemployeestoprioritizetheirmentalwellbeingwithanumberoftoolsandresourcesavailableineachregion.
InsupportofWorldMentalHealthDay,weheldeventsinvariouslocationsacrosstheglobetodiscussthetopicofmentalhealthandreducethestigmaassociatedwithit,withtheultimategoaloffosteringahealthy,inclusiveworkenvironment.Tothesameend,theEmployee Assistance Program(EAP)isavailabledayandnight,allyearround,foremployeestospeaktoacounsellororexpertconfidentiallyonconcernsaroundfamily,relationships,stressorfinancialwoes.TheEAPalsoservesasanimportantresourceincrisissituations,suchasnaturaldisasters,epidemicsorotherthreatstopublicsafety.
Our Mental Health First Aiders(MHFA)programintheUK&Ireland,SingaporeandAustraliacontinuestolendsupport.MentalHealthFirstAidersarenotmedicallytrainedtherapistsorpsychiatrists,butcolleagueswhocanofferemotionalandpracticalsupportthroughnonjudgmentallisteningandguidance,andcanpointemployeestoexistingresources.Followingthesuccessofthevariousevents,activities,articlesandpaneldiscussionsthattookplacetohighlightWorldMentalHealthDay,globalinterestinMHFAtraininghasgainedmomentum across the bank with eight countries now actively looking at introducing programs in 2020.
IntheUK,we’vepartneredwithourhealthandwellbeingproviderstohostanumberofexpertledseminarsontopicsrangingfromdietandnutritiontosleepandexercise.
InGermany,weofferasetofpreventivehealthmeasureswiththestrongsupportofourhealthinsurancefund(BetriebskrankenkasseDeutscheBank).Postbank’shealthmanagementprogramalsooffersawiderangeofhealthmeasuresandcentralhealthcontactsareavailableatmajorPostbanksitestoprovideemployeeswithadviceandassistanceonspecifichealthtopics.
DeutscheBank’scorehealthofferingincludespreventativemedicalexaminationswhichcoverareassuchasultrasoundtests,mentalhealth,fitnessandnutrition.InGermany,theextensivemedicalcheckupprogramisofferedtoallstafffromage40andtoexecutives.In2019,around50 %ofoureligiblestaffparticipatedinsuchexaminations.InthethreemajorUSoffices,allemployeeshaveaccesstoanonsitehealthcenterandcompanyfundedfreebiometricscreeningsthroughtheclinic.
Longtermevaluationshaveshownthattheseprogramscontributetoimprovementsinparticipants’fitness,bloodpressure,nutritionhabitsandnonsmoking,amongotherfactors.In2019,thehealthrateofemployeesin Germany stood at 92.2 %.
Health ratein %
2019 2018 2017
Health rate 92.2 92.3 92.8
Healthrate:100–((totalsicknessdaysx100)/totalregularworkingdays);Germany,Postbankincludedin2019,priorperiodsrestated.
Note:Internationalstandardsfor‘Humanresourcemanagement’(ISO30414)alsosuggestdisclosingmetricsreflectinglosttimeforinjury,thenumberofoccupationalaccidentsandthenumberofpeoplekilledduringwork.Thesehealthandsafetyrelatedmetricsareprimarilyrelevantformanufacturingindustry,notmaterialhere,andconsequentlynotdisclosed.
For2019/20,ourfocusinGermanyisonmentalhealthandmindfulness.
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Benefits&WellbeingDeutsche BankHR Report 2019
SocialwellbeingWeprovidearangeofbenefitstohelpouremployeesmanageprofessionalandpersonalcommitmentsandachieveasustainableworklifebalance.Inanumberoflocations,afamilyfriendlyparentalleaveframeworkhasbeenestablished,withoutdifferentiatingbetweenfathersandmothersbutinsteadfollowingagenderneutralapproach.
Thebankassistsworkingparents,forinstanceinprovidingchildcarenearworkplacesinourmajorglobalhubsandcontributingtothecostofchildcare.InGermany,workingparentshaveaccesstofreeofchargeadviceandplacementservices(e.g.emergencycare,aupairs,daycare,nannies,domesticaid)offeredbyacountrywidecooperation partner and available for every employee via the new digital My Family Serviceplatform.
Inaddition,HRprovidesworkshopsandadviceforstaffreturningfromparentalleaveinvariouslocations.InGermany,around90 %ofwomenreturntoworkafterparentalleave,andanincreasingnumberofmenaremakinguseofpaternityleave.
Returntoworkafterparentalleave(Germany)in headcount
2019 2018 2017
Women 661 714 627Men 605 571 623
Note:Postbankincludedretrospectively.
Thebankalsooffersflexibilityinworkingarrangements,throughworkingfromhome,flexibleworkhours,parttimeandjobsharingopportunities,subjecttospecificrolerequirementsandclientneeds.Inaddition,avarietyofpaidandunpaidleaveisavailabletoallowemployeestomanageunforeseenevents,suchassicknessofchildrenorbereavementofclosefamilymembers.
EmployeesinGermanycaninvestinindividualflextimeaccountsthroughdb zeitinvest,withtheaimoftakingasabbaticalofuptooneyearorreducingtheirworkinghours.Morethan5,300employeesusethisprogram.
0 3,000 6,000
Numberofemployeesparticipatingindbzeitinvest Numberofdbzeitinvestsabbaticalsincl.leaveofabsencepriortoretirementa
175,033
240
185,108
266(+10%)
195,353
346(+30%)
DB Zeitinvestin headcount
Therearealotofpositivestoriestotell:IntheUS,weenhancedthe parentalleavepolicyto provide16weeksofpaidleaveforanynewparent.Additionally,employeesreturningfromparentalleaveareprovidedtheopportunitytoworkaflexiblescheduleforupto8 weeksunderthePhase Back to Work program.
Afamily-friendlycompanyInGermanywehavebeenre-certified asafamily-friendlycompanybythecharitableHertieFoundationforthe 4thtimesince2007.
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Benefits&WellbeingDeutsche BankHR Report 2019
Part-time employmentin headcount
2019 2018 2017
Part-time employees 12,768 13,009 13,766in%oftotalstaff 13.3% 13.1% 13.0%
Part-time employment by regionAmericas APAC EMEA Germany UK
inheadcount,2019Part-time employees 30 37 912 11,438 351in % of total 0.3% 0.2% 7.5% 24.2% 4.3%
inheadcount,2018Part-time employees 49 40 970 11,547 403in % of total 0.5% 0.2% 7.6% 23.9% 4.6%
inheadcount,2017Part-time employees 38 43 1,156 12,107 422in % of total 0.4% 0.2% 7.7% 24.4% 4.5%
We are observing an increasing need among our employees to balance care for elderly family members with theirjobcommitments.AservicepartnerinGermanyprovidescomprehensiveadviceandarrangesforregularandemergencycare.Employeeswishingtocarefortheirrelativesthemselvesmayreduceworkhoursorgoonleaveforuptotwoyears,whichislongerthanstipulatedbyGermanlaw.
Financialwellbeing
Inadditiontocompetitivecompensation,weofferpensionplanswhichcomplementsocialsecurityandprivatesavings.ForourworkforceinGermany,thisusuallyconsistsofanemployerfinancedpensionplan,matchedcontributions to the BVV industry-wide plan and the option to convert parts of compensation into pension contributions.Similarschemesexistforemployeesinmostlocationsworldwide.
Wherefeasible,wehavestartedtoalignourpensionplaninvestmentswiththeESGcriteriainlinewithourReputationalRiskPolicy.Asafirststep,theinvestmentsofourmainpensionplaninGermanyhavebeenreviewedtoadequatelyreflecttheintentandpurposeofthePolicy.
With a 96 % funding ratio as of December 31,2019,DeutscheBankcontinuestoachieveitsannualtargetoffunding 90 -100 %ofitspensionobligations.ThisisthehighestlevelofanyDAX30 company since 2012.
Inmanylocations,DeutscheBankalsooffersavarietyoflife,disabilityandmedicalinsuranceprogramsinordertoprotectouremployeesandtheirfamilies.
In 2019,11,180 employees from across the bank participated in the Global Share Purchase Plan (GSPP),withemployeespurchasingDeutscheBanksharesinmonthlyinstallmentsandparticipatinginthebank’slongtermperformance.Attheendoftheannualpurchasecycle,theacquiredsharesarematcheduptoamaximumoftenfreeshares.
Additionally,3,223 employees in the UK currently participate in the Employee Share Ownership Plan(ESOP)or the Share Incentive Plan(SIP).
27
Benefits&WellbeingDeutsche BankHR Report 2019
Diversity&Inclusion
29 Inclusiveculture&environment
30 Diversity&Inclusionfocusareas
4
Inclusiveculture&environment
Whenwefeelasenseofbelonging,ourmotivation,engagement,andproductivityincreases.Theseoutcomesdependonaninclusiveenvironmentthatvaluestheuniquenessofperspectives,backgrounds,andidentitieswithinourdiverseworkforce.Itiswellestablishedthatdiversityandinclusionaregoodforbusiness:greaterinnovation,higherqualitydecisions,andincreasedmarketshare.
Whilethereismoreworktobedonetoacceleratethepaceofchange,wecontinuetofocusintensivelyondiversityandinclusionasoneofourkeystrategicpriorities.Beyondrepresentationgoals,wehaveestablishedavarietyofglobaleffortstoexpandinclusionanddiversity.Wefacilitatecrossgenerationalcollaborationanddialogthatallowustolearnfromeachotheronequalterms.Our “REVERSEMENTORING”PROGRAMS,drivenbyregionalemployeeresourcegroups(ERGs)alongsidewiderplatformbasedreversementoringofferings,helpusstrengthentheexchangebetweendifferentgenerations.TogetherwithourLGBTQIemployees(lesbian,gay,bisexual,transgender,queer,inter)wecelebrated50yearsofLGBTQIprideandintensifiedourcollaborationwithcoalitionsandinfluentialplatforms,advocatingamoreinclusiveandjustworld.
Beyondthebankwideinitiatives,weareproudtohaveanumberofERGs–voluntary,employeeledgroupsunitecolleaguesfromdifferentbackgrounds,experiencesandbusinessareastoinspireinclusivenessinourdailyinteractions.ERGsaredrivenbyacommonpurpose:tocreateabetterworkplace–foreveryone.OurERGshostavarietyofevents,mentorshipprograms,learninganddevelopmentopportunities,discussionsonrelevanttopicsandcommunityoutreach.Dedicatedcolleaguesvolunteertheirtimetocollaborativelydrivechange,attracttalentandengageinoutreachwithclientsandsociety.Dependingonlocation,ourERGscurrentlysupportavarietyofcommunities(seeoverviewbelow).
Differently- abled
Families Generations LGBTQI
MenMulticultural/
People of Color
Multi- dimensional Veterans Women
Communities supported by ERGs
Wearecommittedtocultivatinganinclusivecultureandenvironment.Theoutlineofthekeyfacts,figuresandfocusareasprovidesyouwithanoverviewofwhatdiversityandinclusionmeansinourorganization.
Whilethereismoreworktodobedonetoacceleratethepaceofchange,wecontinuetofocusintensivelyondiversityandinclusionasoneofourkeystrategicpriorities.
Beyondthebank-wideinitiatives,weareproudtohaveanumberofERGs–voluntary,employee-ledgroupsunitecolleaguesfromdifferentbackgrounds,experiencesandbusinessareastoinspireinclusivenessinourdailyinteractions.
29
Diversity&InclusionDeutsche BankHR Report 2019
Diversity&InclusionfocusareasSupportingculturaldiversity.Asglobalizationconnectscountries,economiesandpeople,culturaldiversityisawayoflifeatDeutscheBank.Weoperatein59 countries worldwide and have a workforce that includes 140nationalities(2018:146,2017:149).Globaldemographicshiftshighlighttheimportanceofmulticulturalinclusion.Weareproudtohaveaworkforcerepresentingamultitudeofcitizenshipsandnationalidentities,withtheethnicities,nationalities,races,sexualorientations,heritagesandculturesofitsemployeesenrichingtheworkenvironment.ThroughthemulticulturalUSandUKERGs,wecelebratethefullrangeofheritagemonthsandthesecularaspectsoffestivalslikeDiwali.OurERGsalsosupportourgraduaterecruitmentdiversitypipelineeffortsandrunmentorshipprograms.
140nationalities
59countries
We partner with a number of leading non-governmental organizations globally to deepen our understanding of thelatestresearchandtrendsacrossdiversitytopics.TheseincludeorganizationssuchasCatalyst,theCenterforTalentInnovation,BusinessintheCommunity,OpenforBusiness,DIANCommunityBusiness,PROUTATWORKFoundationandmore.WearealsoafoundingmemberandcurrentlymanagementboardmemberoftheChartaderVielfalt(CharterofDiversity),whichactivelyfostersdiversityintheworkplace,andasignatoryoftheUKTreasury’sWomeninFinanceCharter,whichpromotesamoregenderbalancedfinancialservicesindustry.DeutscheBankwasawardedthemaximumscoreof100intheHumanRightsCampaign’sannualCorporateEqualityIndex,fortheseventeenthconsecutiveyear,andwasdesignatedasa‘BestPlacetoWorkforLGBTQEquality’.
Advancingwomeninleadershippositions.Weseegenderdiversityasabusinessimperative.Whenoperatinginarapidlychangingenvironment,werequirecapabilitiesthatenableustofacechallengesinaflexibleway.Researchhasfoundthatleadingthroughcomplexityandambiguity,communicatingeffectivelyandmanagingremotelyaresomeofthetopskillsfutureleaderswillneed.
ArecentHarvardstudyconfirmsthatwomenexcelinleadershipcapabilitiesmanyofwhicharelinkedtotherequirementsforleadinginthefutureandinotherskillsdeemedrelevantforeffectiveleaders,suchasrelationshipbuilding,innovation,resilience,takinginitiativeandleadershipspeed.1 We articulate our gender-specificambitionsandmeasureourprogressbecauseweknowthatamoregenderbalancedworkforcemeanssustainablegrowth.
35 % 20 %of the
SupervisoryBoardmembers are women
of the
Management Boardmembers in 2022 are intended tobewomen
Throughout 2019,DeutscheBankcontinueditseffortstoadvancewomenintheworkplace.WithsevenwomenontheSupervisoryBoard,thefigurestoodat35 % at the end of 2019(2018:30 %).Thisexceededthe statutory requirement of 30 % for listed and co-determined German companies under the gender quota legislation introduced in 2015.
1 JackZengerandJosephFolkman,“Research:Womenscorehigherthanmeninmostleadershipskills,”HarvardBusinessReview,June25,2019
30
Diversity&InclusionDeutsche BankHR Report 2019
TheSupervisoryBoard’slatesttargetfortheManagementBoardwassetin2017 as at least 20 % women by June 30,2022.GivenaManagementBoardsizeofbetweeneightandtwelvemembers,twowomenarerequiredtoachievethisgoal.Attheendof2019,therewasnowomanontheManagementBoard.OnJanuary1,2020 ChristianaRiley,responsibleforthebank’sbusinessesintheAmericashasjoinedtheManagementBoard.Within the Diversity Principles of the Suitability Guidelines for selecting the members of the Management Board,theSupervisoryBoardisworkingtowardsthe2022target.
As of year-end 2019,19.7 %ofexecutivepositionsatthefirstmanagementlevelbelowtheManagementBoardwereheldbywomen(2018:20.8 %).AtthesecondlevelbelowtheManagementBoardthefigurewas19.5 %(2018:20.9 %).InaccordancewiththelegalrequirementinGermany,thebanksettargetsof20 %(atfirstmanagementlevel)and25 %(atsecondmanagementlevel)forDecember31,2020.
WomeninthefirstlevelbelowManagementboard
WomeninthesecondlevelbelowManagementboard
2018 2018 20.8% 20.9%
2019 2019 19.7% 19.5%
TheManagementBoardremainscommittedtoincreasingtherepresentationofwomeninleadershippositions.In March 2019,theManagementBoarddecidedtorestatethevoluntaryGroupwideaspirationalgoalsfortherepresentationofwomen.Sincetransparencyfacilitateschange,thegoalsforDecember2021 have been disaggregatedtofocusonthetopthreecorporatetitlesindividually(inheadcountterms):ManagingDirector(21 %),Director(28 %)andVicePresident(35 %,excludingPostbank).ThiswillalsostrengthentheinternalpipelineforthetwolevelsbelowtheManagementBoard.DeutscheBankfirmlybelievesthatanimprovedgenderbalanceinleadershiproleswillmeaningfullycontributetoitsfuturesuccess.
Womenstaffbyyearend2019includingpromotionsbeginningof2020
18.9 % 25.9 % 32.6 %DirectorsManaging
DirectorsVice Presidents
There has been an improvement every year at Managing Director and Director levels since 2010,whenthebankfirstexternallycommunicatedvoluntaryglobalgenderdiversitygoals.Asofyearend2019,womenmade up 18.3 %ofManagingDirectors,25.1 % of Directors and 31.4 %ofVicePresidents.MonitoringagainstDiversity goals also includes promotions beginning of 2020.Includingpromotionswehaveachieved18.9 % forManagingDirectors,25.9 % for Directors and 32.6 %forVicePresident(excludingPostbank).
Womenheadcount in %
Dec.31,2019 Dec.31,2018 Dec.31,2017
Managing Directors 18.3 18.1 17.1Directors 25.1 24.5 23.9Vice Presidents 31.4 31.2 31.4AssistantVicePresidents&Associates 40.6 40.2 40.3NonOfficers 59.6 59.8 57.5Total women 46.3 46.2 46.3Note: Postbank included in 2018 and 2019; prior period not restated; declared corporate titles of Postbank (incl. subsidiaries) are only alternative, technically derived and not contractually defined or agreed.
Werecognizethenecessityofmenasalliestopropelthedialogueonamoregenderbalancedworkplace.Tounderlinetheimportanceofproactivechampioningforgenderdiversity,welaunchedaninternalcampaignontheoccasionofInternationalWomen’sDay2019,askingouremployeesabouttheirpersonalandprofessionalcontributionstopickupthepaceongenderdiversity.Wereceivedalargenumberofsubmissions,bothbymenandwomen,makingitoneofthemostsuccessfulinternalcampaignssofaronour#PositiveImpacthub.
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Diversity&InclusionDeutsche BankHR Report 2019
– dbPride Global Summit. StuartLewis,ChiefRiskOfficerandManagementBoardMember,andglobalexecutive sponsor of dbPride,ourLGBTQIERG,joinedthefirsteverdbPrideGlobalSummitinNewYorkCity.The three-day assembly brought together 25leadsofdbPridechaptersfromelevencountries(Australia,Brazil,Germany,HongKong,India,Italy,Japan,thePhilippines,Singapore,theUKandtheUS)tocelebrate,shareknowledge,andsustainthemomentumonLGBTQIinclusion.LewisalsojoinedhundredsofDeutsche BankcolleaguesintheNYCPrideMarch.
– Celebrating 50 years of LGBTQI Pride. The 50th anniversary of the Stonewall uprising is widely considered tobethebeginningofthemodernLGBTQIrightsmovement.Tocommemoratetheuprisingandraisethevisibilityoftransgenderpeopleofcolour,wepartneredwiththeLeslieLohmanMuseumofGayandLesbianArttocommissionartistGabrielGarciaRomantocreateamobileartprocessionfortheNewYorkCityPrideMarch.WealsojoinedPridemarchesinBirmingham,Cologne,Frankfurt,Berlin,Dublin,London,Manila,Milan,Stuttgart,TokyoandJacksonville.
– Cooperation with the United Nations. DeutscheBankalsocollaboratedwiththeUnitedNationsOfficeoftheHighCommissionerforHumanRights(OHCHR)inhostingaglobalsummitonengagingtheprivatesectorinLGBTQIissues.TheeventwasheldatDeutscheBank’sPalaisPopulaireinBerlin.Morethan70 participants,includingLGBTQIactivistsfrom25 differentcountries,debatedwaysfortheprivateandpublicsectorstocollaborateinadvancingtheagendaofLGBTQIinclusionglobally.
SupportingthedignityofLGBTQIpeople. In 2019,weincreasedourcommitmentforthehumanrights,dignity,andinclusionofLGBTQIpeopleglobally.Wehavetakenstrongpublicadvocacypositions,engagedinmeaningfulconversationswithavarietyofleadersaroundtheworld,andsupportedourLGBTQIcolleaguesandtheirlovedones.
DeutscheBankandseveralofouremployeeshavebeenrecog-nizedexternallyfortheirworkonLGBTQIinclusionbytheannualHumanRightsCampaign’sCorporateEqualityIndexaswellasorganizationssuchasWorkwithPrideinJapan,OUTstanding,Germany’sPROUTATWORKFoundationandUHLALAGroup.Wearegratefulfortheseacknowledgementsandourdedicatedcolleagues’contributionstoadvancinginclusion.
“Stonewall50andWorldPrideisanopportunitytocelebratetheprogressmadeandrecognisethebraveindividualswhohelpedigniteamovement.Inthepast50yearswehaveseenimportantprogressandweatDeutscheBankhavecontributedtoit.I’mdelightedtojointhesecelebrationstoshowmysolidarityandtorecognise that the work remains ongoing and urgent and we needallofouralliestobepartofthechange.”Stuart Lewis
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Diversity&InclusionDeutsche BankHR Report 2019
Aninclusiveworkplaceacrossgenerations.Witharangeofgenerationsrepresentedinourworkforce,werecognizethebenefitsderivedfromdifferentgenerationalideasandperspectives.Often,theprioritiesofeachgenerationcandiffer–intermsofrequiredbenefitsandsupportforvariouslifestagesaswellastheopportunitiesweofferouremployeesateverystageoftheircareer.
As of year-end 2019,29.2 %ofDeutscheBank’sworkforcewas49yearsofageorover(2018:27.6 %),withthe youngest group of employees – up to 29 years of age – accounting for 15.1 %(2018:15.5 %).Theaverageage in Germany was 45.5years(2018:45.6years)which,alongwiththeaveragelengthofcompanyservice,issignificantlyhigherthaninotherregions.
0 20 40
up to 30 years 30 – 39 years 40 – 49 years over 49 years
19
15.1
29.2
28.627.1
18
15.5
27.6
29.327.6
17
16.2
26.0
30.127.7
Employee age groups in Germanyheadcount in %
Average age by regionin years
2019 2018 2017
Germany 45.5 45.6 45.4Europe(excludingGermany),MiddleEastandAfrica 41.6 41.3 40.7Americas 41.5 41.2 40.9Asia/Pacific 35.4 35.0 34.5Total 42.3 42.1 41.7
Our reverse mentoring program continues to expand globally LEARNINGSECTION,andouremployeeresourcegroupsremainedactiveongenerationrelatedtopicsthroughouttheyear:
– dbGenerationintheUKhostedaseriesof“MythbustingMenopause”webinars,ledbyanexternalexpert,plusaneventbroadcastacrossUKofficesinDecember2019.ThesessiondiscussedthephysiologicalandpsychologicalimpactofthevariousstagesofmenopausewitharenowneddoctorfromKing’sCollegeHospital,London.
– dbGeneration continued its Future of Work series in 2019 with an event exploring how we can prepare ourselvesforthechangingjobcultureandworkingenvironment.Expertsonlongevity,socialjusticeandworkpatternsprovidedinsightsonhowshiftingframeworkconditionsimpactthedifferentgenerationsandagingpopulations.
– IntheUS,theNextGen Network actively engaged leaders to become mentees in their reverse mentoring programand followeduponpairings. InJacksonville,NextGen was recognized for its outstanding commitmenttoJuniorAchievement,oneoftheUS’slargestnonprofitorganizationsdedicatedtopreparingyoungpeopleforeconomicsuccess.
– dbFamilyintheUKcontinuestoprovidesupportandinformationtomembers,spanninggenerationswitheventsoncopingwithlongdistancecare,mentalhealth,wellbeingandresilienceinyoungpeople.
Employeescontinuetoreceivesupportthroughouttheworkinglifecycle,forexamplefamilyresponsibilitiesfromchildcaretoeldercare,arangeofflexibleworkingoptions,andemployeebenefitstosuitdifferentcareerstages. REWARDSECTION
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Diversity&InclusionDeutsche BankHR Report 2019
Creatinganinclusiveworkingenvironmentforpeoplewithdisabilities. Deutsche Bank is working to ensure we attract and retain people with disabilities and we remain committed to supporting the mental health and wellbeing of our workforce BENEFITS&WELLBEING.Inadditiontomeetingworkplaceneedsofallemployeessuchasaccessibleworkstationsandadaptions,wecontinuetoprovideaccessibleentrances,elevators,restroomsandparking.Flexibleworkingoptionsareavailabletothoseneedingshortorlongtermflexibilityduetohealthoradisability.
InGermany,theproportionofemployeeswithadisabilitystoodat6.1 %1 as of year-end 2019(2018:6.3 %,2017:6.2 %).ColleagueswithadisabilityaresupportedbytherepresentativebodyfordisabledemployeesandHR.ThroughitssuccessfulandlongstandingcooperationwiththeAssociationofShelteredWorkgroups(GenossenschaftderWerkstätten,GDW)inGermany,thebankalsoensuresanumberofexternaljobsforpeoplewithdisabilities.
employeeswithdisabilityinGermany 6.1 %
OurofficesinIndiacontinuetoleadthewayoninclusionforphysicaldisabilities:colleaguesinBangaloreparticipatedintheannual“ISTEMHackathon”,bringingtogetherblindandsighteddevelopersforcodingchallenges.OurBangaloreteamsubsequentlyhiredoneoftheparticipatingblinddevelopersasadirectresultoftheevent.TheDiversityCouncilsponsoredaninitiativetoimproveofficetransportforworkerswithmobilitydifficulties,whonowhavefullaccesstoataxiservicebetweentheofficeandtheirhome.FormoststaffeventsinBangalore,anemployeesignlanguageinterpreterisoftenpresenttoassistcolleagueswithhearingandspeechimpairments.
Ourgroundbreakinginternshipprogramforgraduateswithautism,launchedintheUKfouryearsago,wasexpandedintotheUSwithfivestudentsjoiningtheprogram,twoofwhomarerejoiningthebankinpermanentroles.
1 DisclosureinaccordancewithGermanysocialcodeIX,prioryearsadjustedduetoretroactivelateregistrationofseverelyhandicappedstatus
Flexibleworkingoptionsareavailabletothoseneedingshortorlong-termflexibilityduetohealthoradisability.
34
Diversity&InclusionDeutsche BankHR Report 2019
Attractingtalent
36 Recruitment with a focus on digitalization
37 Graduates
38 Apprentices and dual students
39 Employer Brand
40 Fostering career mobility
5
Attracting talent
Recruitment with a focus on digitalization
In 2019,HRanditsTalentSourcingfunctionfocusedonthedigitalizationofHR’scoreplatform.Thispositivelyimpactedourrecruitmentprocess,asthedigitalizationofrecruitmentactivitiesenablesustobettermanagethesourcing,selectionandonboardingexperienceacrosslateralandgraduatehiring,aswellascontingentworkers.ThethreetechnologiesimplementedtothiseffectareWorkday,Yello and Beeline.
Yello provides our recruiters with a single platform to engage with intern and graduate talent. It includes diverse modules such asapplicanttracking,campuseventmanagement,interviewschedulingandfeedback,referrals,andtalentpooling.TheYello Pro App allows our business stakeholders to complete interview feedback directly on their smartphones or tabletsoncampus‘Superdays’orinassessmentcenters,eliminatingtheneedforpaperbasedforms and allowing recruiters instant access to thecollecteddata,thusstreamliningtheentireprocessfromapplicationtojoboffer.
Finally, the furtherexpansionofBeeline into Germany and India provides Deutsche Bank with a market-leading platform for the engagement and management of contingent worker resources in a structured and standardized manner with clearvisibilityofrates,timesheetsandcosts,inturn rendering excel time and expense sheets obsolete. Beeline allows hiring managers to select, screen and compare candidates andscheduleinterviews.Workershavetheirownaccountstotrackandrecordtimeandcosts,viewextensions,ratesandscheduleabsences.
Workday, the bank’s new core HR platform,provides integrated end-to-end services across the entire recruitment process for standardized peoplemanagementprocesses.Inadditiontoautomating the governance and hiring controls which improve our quality assurance processes andcompliancemonitoring,thesystemwillalsodeliver:
—Improveddigitalexperienceformanagers,employeesandcandidates;
— Improved system for recruiters to ensure moreefficient,digitalinteractionswithhiringmanagers;
—Simplified and automated key escalationreview process by control functions
In 2019,thebankhiredapproximately3,800 officers and 3,800 non-officers from the external market in comparison to 2018 where we hired 4,100 officers and 4,300 non-officers.Thisisconsistentwiththebank’sworkforcedevelopmenttargets.
0 3.5 7
Officers Nonofficers LegalentitiesoutsideofDeutsche Bank’scorporatetitlesytems
ExcludinglegalentitiesoutsideofDeutsche Bank’scorporatetitlesystem,primarilyPostbank.
174.9
4.70.7
184.1
4.30.6
193.83.8
0.7
Hiresbymajorjobcategories
FTE in k
2019 2018 2017
Total 8.3 8.9 10.3
36
Attracting talentDeutsche BankHR Report 2019
Theaveragetimerequiredtofillvacantpositionswas56days(2018:61days)andtheaveragetimerequiredtofillcriticalvacantbusinesspositions15days(2018:24days).
Diversityintermsofcultures,countries,races,genders,sexualorientations,disabilities,beliefsandgenerationsremainsextremelyimportant.Sourcingthebestpeopleirrespectiveofthesefactorsrequiresaninclusiveapproachtoourvalueproposition,firmlysupportedbyarangeofdiversitydrivenprograms,resourcegroupsandinterventions.
Graduates
Graduatecareerscontinuetobeacriticalpipelineoftalentforus.Theycontributetothebank’schangeagendabybuildingaskillsetthatbetteralignstotheneedsofthefutureworkforceandclientsandtotheobjectiveofdiversifyingtheorganization.Insupportofthesignificantnumberofgraduateshiredin2019,wehostedoneofthebank’slargestevergraduateorientations.Wehired955graduatesthisyear,comparedto910 in 2018 and 617 in 2017.In2019,womenmadeup39 %ofthegraduateintake.
+4.9 %Graduateshired
2017
2018
617
910
2019 955
Followingonfromlastyear’ssuccess,thebankagainrantwoseparateorientationandtrainingprograms,oneinIndiaforthebank’slocalTechnologycohortandoneinLondonforallothergraduates.Thisenabledthedeliveryofatailoredprogramforbothgroups,whilestayingtruetothecorevaluesandobjectivesoftheglobalorientationmoduleandtrainingcurriculum.Orientationconsistedofspeakersessionswithanumberofmanagementboardmembersandotherseniormanagersacrossthebank.Avarietyofactivitystreamsincludeda“RuntheBank”simulation,clientinteractionsessions, innovationwithinDeutscheBankandunderstandingourculture,valuesandbeliefs,tonameafew.Asinpreviousyears,graduateswereabletonetwork with their peers through a number of team building activities – critical for improving engagement andaligningourvision,valuesandbeliefsacrossthebank.
Implementation of Yello,ourapplicationtrackingsystem,hasloweredcostswhileincreasingefficiencyandenablingbettermanagementofourglobalintake.Thesystemhelpsmanageeventscheduling,candidatetracking,paperlessevaluationsandreferrals.TheawardwinningGraduateApphasprovensuccessfulsinceits launch in 2017andenhancementshavebeenmadetoprovideamorepersonalizedapproach,removingallemailcommunicationsandmovingtowardsamoreclientfocusedview.Theappcontinuestoimproveourengagement with the graduates and allows them to stay connected and network among themselves prior to joiningtheorganization.
Whileourcommitmenttograduaterecruitmentremainsunchanged,requirementsforjuniortalentarediversifying.Ourbusinessrequirements–toattract,developandretainthemostappropriatetalent,andmanagethebank’scostbase–cannolongerbemetbyasinglegraduateproduct.We have recognized the needtostepupourapprenticeshipprograms,degreepartnerships,anddirecttodeskprograms.Wehavethusembarkedonajourneytoupdateourselectionprocesses,focusingontheskillsandvaluesneededfortheworkforceofthefutureleveragingasituationaljudgmenttestfocusedonthebank’svalues.
Ascompetitionforgoodpeopleisincreasing,innovationinsourcingiscritical,asisaclearemployeevalueproposition,communicatedviaoursocialmediachannels– CLICKHERE.
ImplementationofYello,ourapplicationtrackingsystem,hasloweredcostswhileincreasingefficiencyandenablingbettermanagementofourglobalintake.
Wehaverecognizedthe needtostepupour apprenticeshipprograms,degreepartnerships,anddirect-to-deskprograms.
compared to 2018
37
Attracting talentDeutsche BankHR Report 2019
Apprentices and dual studentsVocationaltraininghasalwaysbeenanimportantcomponentofourentryleveltalentstrategy.Inlightofarapidlychangingworkenvironment,especiallyinthecourseofincreasingdigitalizationinthebankingsector,highqualityapprenticeshipprogramswillbeevenmoreimportantinthefuture.
Aspartofourongoingefforttoincreaseourappealtoyoungpeoplestartingoutintheircareers,ourDBInsider campaign #dbKarrierestartprovidesfieldreportstalentsonentrylevelonaseparateInstagramaccountaddressingonlythisgroup.WehaveincreasedthepresenceofboththeDeutscheBankandPostbankbrandatvocationalorientationfairsandschooleventstoattractattentiontoourtrainingprograms.
Themarketforapprenticeshipsinthebankingsectorcontinuestobecharacterizedbydifficultrecruitingconditionsandagrowingtrendtowardsacademicdegrees.Tomeettheseshiftingrequirements,andtoattractthebesttalentandincreasetheappealofthebankingsector,wecontinuetodevelopourtrainingprogramsandhaveintroducedinnovativeconceptssuchasadualmasterprogramandparttimeemploymentforstudents.
Of the approximately 24,000 applicants for the 21 apprenticeship and dual study programs of Deutsche Bank andPostbank,wewereabletorecruit667junioremployeesin2019(2018:607).In2019,394 of our apprentices anddualstudentsacceptedajoboffer.
Apprentices in Germanyin headcount if not stated otherwise
2019 2018 2017
Numberofapprentices 1,499 1,459 1,641Female share of apprentices 41.9% 45.1% 47.0%Apprentices ratio 3.6% 3.4% 3.6%Hired apprentices 667 607 616Takeover of apprentices into employment 394 468 460Share of apprentices taken over into employment 63 % 59 % 52 %Expensesforapprenticeshipprogramsin€m. 37 39 48ØExpensesforapprenticeshipprogramsperemployee(apprentice)in€k. 28 29 28
InGermany,ourapprenticeshipprogramconsistsofonthejobtrainingwiththebankandlearningmodulesprovidedbyavocationalschool,concludingwithacommercialdegree.Dualstudentsgraduatewithabachelor’sdegree.Theyattendtheoreticaltrainingmodulesatpartneruniversities,whilethepracticaltrainingisconductedatDeutscheBank.Duringtheprograms,apprenticesandstudentsbuildcapabilitiesforaspecificprofessionalroleanddevelopimportantsoftskills.
Inordertoretainournewjoinersbeyondtheapprenticeshipsanddualstudyprograms,weareconstantlydevelopingourprograms.Meanwhile,apprenticeshipsinthebranchesoftheDeutscheBankandPostbankbrandsareorganizedmoreindividuallyandflexibly.Thisensuresabetterfocusonthestrengthsandinterestsoftheindividualjuniortalent.
Jobprofilesinthebankingsectorareevolvingalongsidedigitalization.Wehaverecognizedtheimportanceoftopicssuchasbigdata,ITsecurityandITforensicsforthosebeginningtheircareers,andinanefforttostrengthenourpositionasanimportantemployerinthetechnologysector,weintroducedourdualstudyprogram“SoftwareTechnology”in2019.
As we look forward to 2020,thereorganizationoftheapprenticeshipforbankerswithinourbranchesremainsanimportantagendaitem.Asanemployer,weplayakeyroleintheprocessofreorganizingjobprofilesaswell as keeping the apprenticeship attractive and up to date while including essential elements of digitalization andholisticconsulting.DeutscheBankispartoftheEmployers’AssociationofthePrivateBankingIndustryandwearedrivingthechangeinclosecollaborationwithotherpartnersintheindustry.
INSTAGRAMCHANNEL:
DeutscheBank Schüler-Karriere
FACEBOOKCHANNEL:
PostbankKarriere
38
Attracting talentDeutsche BankHR Report 2019
EmployerBrandBased on extensive internal and external research undertaken in 2018,ournewEmployeeValueProposition(EVP)‘MorethanBanking’waslaunchedin2019.ItoutlineswhatmakesDeutscheBankuniqueandwhatcurrentandfutureemployeescanexpectintermsofcareeropportunities,ourcultureandpeopleaspects.Throughoutthe past 12months,wehavebroughtthispropositiontolifethroughouremployees,whosharedstoriesondigitalandsocialplatforms,bothinternallyandexternally,tohelpusattractthebesttalent– CLICKHERE.
Our Employee Value Proposition
Career possibilities
Inclusiveculture
You‘llhavetheopportunityto grow and the chances to succeed
Youcanbringyourwholeselftoworkhere,andberespectedasanindividual
Collaborativeworking
Driving change
Your opinions and ideas willbevaluedbysupportivecolleagues
You‘llplayanimportantroleinchangingthebankforthefutureoffinance
Weknowthatthesuccessofourbankisbuiltuponthequalityofouremployees,sowecaredeeplyforourpeople and strive to strengthen our perception as employer-of-choice every day – CLICKHERE.
NotableactivitiesincludeanongoingglobalCareerMobilitycampaign,aGraduatecampaignacrossfourregions and a refreshed CAREERSWEBSITE.OurdigitalapproachhasallowedustoapplynewtechnologiessuchasausergeneratedvideoplatformforouremployeestosharetheirstoriesofworkingatDeutscheBank,whichgivesourmessageanauthenticvoice.
We have also implemented technology allowing us to host online events for large numbers of candidates and extend our reach across regions while enabling prospective candidates to interact with presenters at face-to-faceeventsviatheirsmartphone.
Weaimtoreachandengagewithpotentialemployeesviatheirpreferredplatformsandchannels,notablyonsocialmedia.
Deutsche Bank on social media channels
24,000 1 M 1.3 MInstagramfollowers LinkedInfollowers Careerswebsitevisitors
www
39
Attracting talentDeutsche BankHR Report 2019
WehaveseenrapidgrowthinourDeutscheBankInstagramchannel,launchedinMarchlastyear,wherewe have grown from 10,000 followers to 24,000 followers in 2019,andwealsorecentlyexceededonemillionfollowersonLinkedIn.Thishasresultedinmorethan1.2 million social media engagements with our content and 1.3 millionvisitorstoourCareerswebsiteoverthesameperiod.Ourapproachreceivedexternalrecognitionat the 2019TARGETjobsAwards,whichhonoredthegraduatecampaignforbestsocialmediastrategyforgraduaterecruitment.OurInstagramchannelwasmentionedinMashupCommunications’rankingofFinancialInstitutionsinGermany.
Fosteringcareermobility
CareermobilitycontinuestobeacorefocusforDeutscheBank.Weremainfirmlycommittedtosupportingstaffinbuildingtheircareerswithintheorganization–especiallyinlightoftheannouncedtransformationplansimpactingallpartsofourorganization.
The Internal Mobility teams continue to pursue an enhanced redeployment strategy and ensure an established processforemployeestotakeonnewroleswherefeasible.Filling685 positions internally through proactive redeploymenteffortsresultedinsavingsof€31.9 million in 2019.
Weenableouremployeestochangerolesbothwithinandacrossdivisions.Crossdivisionalmobilitycontinuesto be a focus as it allows employees and leaders to learn and develop skills and gain a broader understanding ofthebank’soperations.In2019,thebanksaw2,100crossdivisionalmoves,whichissimilartothenumberofcross-divisional moves in 2018.Overall,9 %ofourworkforcechangedjobswithintheorganizationthroughout2019(2018:10 %).In2019,37.6 %ofopenpositionswerefilledwithinternalcandidates(exludingPostbank),up from 37.2 % in 2018.
ExcludingPostbankandlegalentitiesoutsideofDeutscheBank’scorporatetitlesystem. Officerscompriseallemployeeswithcorporatetitles,including:ManagingDirectors,Directors,VicePresidents,Assistant VicePresidentsandAssociates.
Officers Nonofficers
Intradivisionalofficers Intradivisionalnonofficers
Crossdivisionalofficers Crossdivisionalnonofficers
7.9
5.03.6
1.4
2.9
0.7
2.2
19
5.03.6
1.4
3.0
0.7
2.3
8.0
18
6.5
4.7
1.8
4.0
0.9
3.1
10.5
17
Internalmobilitybymajorjobcategoriesheadcount in k
ParticularlyattheManagingDirectorandDirectorlevelstheinternalfillratewasaboveaverageat40.2 %(2018:40.5 %).ThiswasalsotrueattheexperiencedVicePresident(VP)levelwith47.5 %ofvacanciesfilledinternally(2018:47.8 %).InGermany,thefigurewas67.7 %(2018:65.4 %)duetoredundanciescausedbyrestructuringmeasures,aswellaschangesresultingfromdigitalizationandcontrolfunctions.Inall,76.9 % of business criticalpositionswerefilledinternally(2018:61.5 %).
40
Attracting talentDeutsche BankHR Report 2019
Internalfillrateheadcount in %
2019 2018
Internaljobvacancyfillrate1 37.6 37.2thereof Managing Directors and Directors 40.2 40.5thereof Vice Presidents 47.5 47.8Critical business positions 76.9 61.51 Excluding Postbank
In 2019,ouremployeeshavebeenencouragedtosharetheirexperienceswithinternalmovesonaninteractiveinternalplatform.AlsoonthisplatformtheInternalMobilityteamsproviderelevantinformationoncareermobility ingeneral,aswellasnewsandupcomingevents,regionalopenpositions,andlinkstorelatedservicesorplatforms.Additionally,theInternalMobilityteamshavehostedcareereventsandtrainingsforemployeesinmultipleregions.Wecontinuetoraiseawarenessofthecareeropportunitieswithinthebankthroughseveralcommunicationactivities,mostimportantlyencouragingemployeestosharetheirstoriesofhavingmovedinternally.
Inlinewiththebank’sagenda,digitalizationhashelpedstrengthenourofferingtoemployeesaswestrivetoimprovetheirexperienceacrossallHRrelatedprocesses.InternalMobilityteamscontinuetousetheConnect2Jobdigitalplatformwhensourcingcandidatestofillinternalroles.Connect2Job allows employees interested in taking on a new role within the bank to upload their CV to review personalized search results of openpositionsforwhichtheycanthenapply.Finally,theimplementationofWorkdaywillenabletheexpandeduseofthetalentpoolfunctionalityinthefuture.
41
Attracting talentDeutsche BankHR Report 2019
Developingourpeople
43 Keepingourpeople‘fitforthefuture’
45 Training
6
Developingourpeople
Keepingourpeople‘fitforthefuture’
Learning asloyalty
Learningculture.Tohelpouremployeesdevelopprofessionallyandpersonallyandadvancetheircareers,wehavemadelearningakeyelementofourpeoplestrategyatDeutscheBank.Westrivetocreateanengaging,personalizedandvariedlearnerexperienceaccessibletoallemployees,ateverystageoftheircareer.
Inthiscontext,thelaunchofourdigitallearningplatformConnect2Learn in 2017 and our digitalization work in 2018laidthefoundationfortransformingouremployees’learningexperience.In2019,wecontinuedtobuildonthisbasisandmadesignificantstridesforward.
Thanks to Connect2Learn’sofferings,whichareavailableirrespectiveoflocationortime,thenumberofuniqueusersaccessingselfpacedlearninghasincreasedsignificantlysincetheplatform’slaunchfrom15 % to 55 %ofemployees.
Intotal,Connect2Learnoffersover40learningtopicsondemand.Thisincludes55 immersive virtual classroom experiences,availableinlocallanguages,aswellas3,500curatedresources,includingvideos,articles,podcastsandTEDTalks.In2019,morethan230,000 learning items were accessed directly and over 500,000 indirectly throughourdigital libraries,andourpartnershipswithlibrariessuchasgetAbstract,S4K,andIntuition(afinancialproductlibraryfeaturing400+piecesofdigitallearning)enhancedtheoffering.Inaddition,dedicatedresourcessuchasmanagerguides,coachingcards,andgroupdevelopmentresourcesareavailabletoleaders.
Consideringtheeverchangingneedsofouremployees,ourofferingisconstantlyevolving.In2019,weaddednewlearningopportunitiesthatpromoteanopenworkingculture,includinganofferingdesignedtoenableleaderstocreateaclimateinwhichemployeesfeelpsychologicallysafetoraiseconcerns.Additionalfocusareasincludedagileworkinganddatasciencetopics.
Wealsofocusedonpersonalization,creatinglearnerpersonasandincorporatingelementsofartificialintelligenceinto Connect2Learntoprovidemoretargetedlearningexperiences.Inaddition,wearecontinuouslyexploringnew ways of delivering learning to make it more convenient for our employees and to help them put learned materialintopractice.Inthiscontext,wehaveexperimentedwithvirtualcoachingin2019 and will continue to pilot new technology in 2020.
43
Developing our peopleDeutsche BankHR Report 2019
Informal learning tools
Mystery Coffee
Reverse Mentoring
Job Shadowing
Whowillyou connect with next?#PositiveImpact
Spendadayinsomeoneselse’sshoes.#PositiveImpact
The power of perspectivesacrossgenerations.#PositiveImpact
Newtechnologiesalsohelpustoconnectpeoplepersonally.In2019,webroadenedourlearningformatsto includeasuiteofinformallearningtools:Mystery Coffee,Reverse Mentoring and Job Shadowing.Theseformatsuseintelligentalgorithmstobringpeopletogetherforpersonalexchange,networkingandtolearnfromeachother.Over10,000employeesarecurrentlyactivelyinvolved,withover20,000matchessuccessfullymade.
Hereisonestorymakingthepositiveimpactevident:
“IknewJobShadowingwouldbeanexcellentwayformetolearn …but Ineverthoughtitwouldchangemycareerthewayithas.”AllisonsigneduptotheinitiativetolearnmoreabouttheareaofAnti-FinancialCrime.Bymeetingwithmembersoftheteam,shereceiveddevelopmentadviceanddeeperinsightintothefunctionwhichgaveherthefoundationstolandherdreamjob.“DeutscheBankunderstandsthatlearningdoesn’tjusthappenintheclassroom,butalsointheinteractionswehavewithourcolleagueseveryday.”OurJobShadowinginitiativeisopentoemployeesintheUKI&Germanyandwillsubsequentlyberolledoutglobally.
44
Developing our peopleDeutsche BankHR Report 2019
TrainingWe invested a total of €70 million in training our employees in 2019 with a cost per FTE of €0.8thousand.Thisisbroadlyinlinetoprioryears(2018:€0.7thousand,2017:€0.8thousand)aswecontinuetodelivertraininginmoreeffectiveandefficientwaysenablingustomaximizeourreachwithamoreflexibleoffering.
Training Expenses
0 75 150
Trainingexpenses(in€million) TrainingexpensesperøFTE(in€thousand)
0 1 2
1773.9
0.8
1869.2
0.7
1970.0
0.8
Key areas for 2019wereregulatory,leadershipandspecificskillsincludingagileandspeakup.AttendanceofGovernance,RiskManagement&Compliancetrainingsincludingtrainingrelatedto‘MarketsinFinancialInstrumentsDirective’remainedonahighlevel.Thenumberofnonregulatorytrainingattendeesdecreased:aswellasourreducedemployeenumbers,wehaveincreasedengagementin‘selfpaced’learningsoemployeescanaccesslearningwhenandwheretheywantit.Thistakeupofarticles,videosandpodcastsmeantlessrelianceonfacilitatedclassroomeventsastheonlylearningmethod.Allcourses,includingcompliancetraining,are available via CONNECT2LEARN.Thesystem’spersonalizeddashboardshowsemployeesallmandatoryonlinecompliance and regulatory training courses they need to complete and enables managers to view the training statusofalltheirteammembers.
Training attendanceparticipants in k
2019 2018 2017
Governance,RiskManagement&Compliance 1,093.2 1,097.1 1,130.8Nonregulatoryrelatedtrainings1 295.3 404.5 257.3Total 1,388.5 1,501.6 1,388.11includesProductTraining,TechnicalTrainings,Leadership&ManagementandPersonalDevelopment
Aspartofouroverallstrategytoprotectandimprovetheemployeeexperienceoflearning,theHRandCompliance Risk teams continue to work together to ensure a strong governance over the design and deploymentofelearningandhavemadegoodprogressinimprovingqualityandreducingitsvolume.
45
Developing our peopleDeutsche BankHR Report 2019
Developingourleaders
47 Enhancing leadership development
48 Developing leaders at every stage of their career
48 Global high-potential acceleration programs
50 Senior leadership development
7
Developingourleaders
Enhancingleadershipdevelopment
DevelopingourleadershasalwaysbeenakeyfocusatDeutscheBank.OurLeadership Capability Model providesaconsistentvisionofhowweunderstandleadershipandwhatweexpectfromourleaders.ItreflectsDeutscheBank’suniqueneedsandisbackedbyrigorousscientificresearchtopinpointtheknowledgeandskillsthatformthecoreofeffectiveandinclusiveleadership.
Leadersarethecriticalfactorincreatingtheclimateandculturewearestrivingfor: a culture which allows ouremployeestorealizetheirfullpotentialandthrive.Whilethefundamentalprinciplesofleadershiphavenotchanged,leadersdoneedtopreparethemselvesbyadoptinganewmindsetandapplyprovencapabilitiesinadifferentcontext.Futureleaderswillneedtobeadaptable,toempowerandenableothersandtobedecisiveintimesofuncertainty.
In 2019,wehavetakensomekeyactionstorespondtothesechangingrequirements.Wehaverefreshedour Leadership Capability Model and transformed our leadership development program to enable a more personalized,modularapproachallowingleaderstoaccesslearningwhenandhowtheyneedit.Guidedbythe refreshed Leadership Capability Model,alllearningopportunitiesaredesignedtomakeourleadersfitforthefuture.Throughoutthetransformationprocess,wehaveactivelyinvolvedleadersinprioritizingtopicsandmethodsbyparticipatinginforumsandfocusgroups.
Program centric Audience centric
Corporatetitlebasedcriteria Rolebased,nonhierarchical
Reachingonlyafew LearningforALLleaders
Bigandinfrequent Bite-size,oftenandattime of need
All at once Contentdrivingtheformat
Waitingforinvitation Accessibleatanytime
The transformation of leadership
From To
OurLeadershipCapabilityModelprovidesaconsistentvisionofhowweunderstandleadershipandwhatweexpectfromourleaders.
47
Developing our leadersDeutsche BankHR Report 2019
DevelopingleadersateverystageoftheircareerWerunawiderangeoflearninginitiativestodevelopleadersatalllevels,fromnewmanagerstoexperiencedleaders.Werecentlyexpandedourofferingfornewleadersbycreatinganinteractiveguidetailoredtotheirneeds.Theguidecoverscompanyculture,processes,systems,riskmanagementandgeneralresponsibilitiessuchasfosteringaclimatewhereemployeescanspeakupandraiseconcerns;italsoprovidesaspringboardtofurtherpersonalizedlearningopportunities.In2019,theguidewasprovidedto1,051 leaders who were new joinersorleadingforthefirsttime.Thismodularapproachalsooffersmorepersonalizedtrainingforexperiencedleaders,allowingthemtochoosetopics,suchasconflictmanagement,coachingandchange,aswellaslearningmethods,suchasfacetofaceclassroomtraining,facilitatedvirtualclassrooms,videos,articlesorpodcasts.Wewillcontinuetodeveloptheportfolioofavailablelearningbasedonleaders’ongoingfeedback.
Inadditiontoourdigitalofferings,ourGermanyspecifichomemarketprogramsareavitalpartofourlearninginfrastructure.Inparticular,weruntwomentoringprogramsfocusedonsupportingthedevelopmentofhighpotentialfemaleemployees.TheseincludeourCross-Divisionalprogram,whichsupportstalentedtopperformersandpotentialtotakeonafirstmanagementrole,aswellasourCross-Company Mentoring programforhighpotentialwomeninmanagementpositionsorresponsiblespecialistpositions.Thelatteraimsatimprovingparticipants’ownmanagementperformance,experiencingothercorporateculturesandstructures,aswellasexchangingexpertiseandexperience.In2019,wepartneredwitheightcompaniesinGermanytoshareideasandexpertise.Inaddition,weoffertheDiscover DBprogram,an18monthjourneyforhighpotentialjuniortalentstogainbroadcrossdivisionalexperience;theOne Bank Leadership program forinternalhighpotentialsorexternalMBAhirestogetbroadexposureandleadershipexperience;andtheDiscover Leadership and Discover Project Management programs designed for high-performing potential leadersorprojectmanagers.
Globalhigh-potentialaccelerationprograms
For employees who have been consistently demonstrating high performance and are recognized as future potentialleaders,severalaccelerationprogramshavebeendesignedtodevelopthembothprofessionallyandpersonally,toadvancetheircareers,andtoensuretheyarereadyforthenextstep.
OurflagshipaccelerationprogramscompriseofferingsforseniorfemaleManagingDirectors(MDs),topDirectortalent,andVicePresidenthighperformers.Allprogramsfollowaglobalandcrossdivisionalapproachandparticipationisbynominationonly.2019sawPostbankbeingfullyintegratedintoDeutscheBank’saccelerationprograms.
– Accomplished Top Leaders Advancement Strategy (ATLAS),theprogramforseniorfemaleMDs,waslaunched in 2009.Sincethen,theprogramhasrunfivetimes,withthe2018 -19 cohort being the largest to date with 21participantsselected.Theprogramfollowsa12monthstructureddevelopmentjourneyintertwined with personalized individual development measures and is aimed at increasing the number of womeninseniorpositionsacrossthebank.
– The bank-wide Director Acceleration Program (DAP) was launched in 2017,with169 participants nominated in 2019.Itisa12monthprogramdeliveredthroughacombinationofformalclassroomtraining,internalleaderledsessions,and1-on-1andpeercoachingelements.TheDAPincludestheWomenGlobalLeaders(WGL)module,whichenablesthebanktoretainitskeyfocusonseniorfemaledevelopment.In2019,42 % ofDAPparticipantswerewomen,representingthehighestpercentagetodate(2018:36 %).
– The bank-wide Vice President Acceleration Program completed its fourth year in 2019 with 490 participants selected.Therepresentationofwomenstoodat40 %.Participantsattendedtwomodulesduringtheirsixmonthjourney,hostedthroughoutEurope(London,FrankfurtandMilan),theAmericas(NewYork)andAsiaPacific(Singapore).
Participants in the acceleration programs have shown a higher promotion rate and increased retention and internalmobilitywhencomparedwiththewiderbenchmarkpopulation,representedbythepopulationeligiblefortherespectiveprogramsbasedonthehardcriteria.
48
Developing our leadersDeutsche BankHR Report 2019
Overall ATLAS
2018 Director Acceleration Program
2018 Vice President Acceleration Program
16.3 %(25participantsoverall)were promotedtoManaging Director inMarch 2019comparedto 2.6 %ofbenchmark
12.4 %ofthepopulationhavemadeinternalrolemoves comparedto7.4 %ofbenchmark
24.6 %(119partici-pantsoverall)werepromotedtoDirectorin March 2019 comparedto3.3 %of benchmark1
98.7 %havebeenretained compared withthe86 % bank-wide retention rate for Directors
95.5 %havebeenretained compared with the88.1 %bank-wideretention rate for Vice Presidents
8.7 %ofthepopulationhavemadeinternalrolemovescomparedto7.4 %ofbenchmark
100 %ofATLAS alumnihavemovedintonewandmoresenior roles since attending
In2019,anATLASalumni was appointed asaMemberoftheManagementBoard
1 Benchmarkisthepopulationeligiblefortheprogrammesbasedonthehardcriteria,i.e.thosethathavebeen in corporate title for a minimum of two years
49
Developing our leadersDeutsche BankHR Report 2019
SeniorleadershipdevelopmentWecontinuetoplaceleadershipandcultureatthecoreofourtransformationandchangeefforts.Thisincludesintensesupportformostsenioremployeeswhodriveperformance,innovationandthebank’soverallculture.
Strategicsuccessionmanagementformsthefoundationofoursenior leadershipdevelopmentefforts.Succession management starts with position-based succession planning and is implemented alongside the TotalPerformanceprocesstoenableintegratedpeopledecisionsandfollowup.Successionplanningensuresasustainablepipelineofinternaltalentforourmostseniorandcriticalpositions,andthattheseindividualsareintentionallydevelopedforenhancedleadershipresponsibility.There is a critical need to strengthen leadership talentinthesuccessionpipeline,withafocusonindividualswhohavetherequiredfunctionalandtechnicalexpertiseaswellasabroadunderstandingofthebank.
Todeliveramoreambitious,developmentfocusedsuccessionagenda,theManagementBoardhastakenmeasures to heighten engagement and transparency on the issue through a framework which supports the developmentofseniortalentacrosstheorganization.Our Senior Talent Development activities rest on three pillars:boardreadiness,seniortalentdevelopmentandteameffectiveness.Basedonindividualneeds,tailoreddevelopmentplanswerecreatedandexecutedduringtheyear.
Ourongoingboardreadinessinitiativeseekstofurtherenhancethebank’sregulatoryposture,knowledgeandskillsformanagementandlegalentityboards.In2019,targetedseniorindividualstookpartinathoroughsuitabilityassessmentprocessfocusedoncontentthatisessentialforeffectivegovernance,regulatoryconductanddecisionmakingamongstmembersofmanagementbodies.AllnewappointeestoManagementBoardin 2019wereeffectivelysupportedbyourinternalboardreadinessprogram.Complementingthisoffer,andinlinewithEuropeanSecurities&MarketsAuthorityandEuropeanBankingAuthorityGuidanceonKeyFunctionHoldersandMembersofManagementBoards,wecontinuouslyworkedontheManagementBoardTrainingFrameworktoensuretheprovisionoftrainingtomaintainongoingsuitability.
Bespoke senior leadership development is also available to high performing individuals within the succession pipelines.Thisprocessisbasedonintensiveleadershipdiagnosticwhichincorporatesapsychometricandstructuredfeedbackfromkeystakeholders.Basedonoutcomes,actionplansareagreedwhichincludesmeasuressuchastraining,executivecoachingandsupporttoenhanceparticipants’visibilityandexposurewithManagementandSupervisoryboardmembers.
Giventhetransformationatthebank,manyofoursenior leadersareexperiencingatransitionintheirresponsibilities.Tomeetthischallenge,wehaveintensifiedthetransitionsupportweofferfornewappointeesinseniorpositions,enablingthemtoreflectandintentionallydefineindividual,teamandoperationalprioritiestoacceleratetheirperformanceinaneworexpandedrole.
The ability of our executive leadership teams to work together inclusively to drive change and execute strategy acrossthebusinessisoneoftheelementsmostcriticaltooursuccess.Hence,ourleadershipdevelopmentworkalsoextendstopromotingthelongtermeffectivenessofthebank’sseniorteamsoperatingatthelevelofglobalexecutivecommitteesoronebelowManagementBoard.In2019,ourinternalHRexpertssupportedtwelvestrategicallyimportantteams,operatinginthefrontofficeandacrossarangeofinfrastructurefunctions.Theyfocusedonfosteringtheteams’deeperawarenessofgroupbehaviortoenhancetheirabilitytosuccessfullyleadtheirfunctionanddeliveragainstbusinessobjectives.
Thereisacriticalneedtostrengthenleadershiptalentinthesuccessionpipeline,withafocusonindividualswhohavetherequiredfunctionalandtechnicalexpertiseaswellasabroadunderstandingofthebank.
OurSeniorTalentDevelopmentactivitiesrestonthreepillars:boardreadiness,seniortalentdevelopmentandteameffectiveness.
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Developing our leadersDeutsche BankHR Report 2019
Rewardingperformance
52 Compensation strategy and framework
52 Pool determination methodology
53 UK Gender Pay Gap Report and the German Remuneration Transparency Act
53 Digital developments
8
Rewarding performance
Compensationstrategyandframework
Afair,transparentandsustainableapproachtoemployeeremunerationremainsofcrucialimportancetothebank.
Ourcompensationstrategyisfocusedonsupportingaglobal,clientcentricbankingmodel,reinforcedbysafeandsoundcompensationpracticesthatoperatewithinthebank’scapital,liquidityandriskbearingcapacity.The compensation framework promotes and rewards sustainable performance and contributions at all levels of theorganization.Itprovidesaclearstructureofcompensationcompositionacrossthebank,withparametersdetailedperdivisionandcorporatetitle.
The HR function continues to drive strategic compensation initiatives in order to deliver improved management andgovernanceofourcompensationcosts.Aligningroleandrewardformspartofoneofthebank’sCore Transformation Initiatives and 2019sawfurtherenhancementtothedeliveryandmonitoringofpayprocesses.
Ourcompensationinitiativesestablishcostfocusedfoundations,whichallowustocontinuetobetterunderstand,informandcontrolourpaydecisions,aswellasfacilitateourstrategiccompensationdecisionmakingoverthelongtermandprovidetransparencyandenhancedunderstandingforemployees.
Inlinewiththisintention,thebankalsostrivestocontinuouslyalignexistinglocalrewardmethodologiesandsystemstoourglobalframework.OneexampleisthegradualharmonizationoflegacyPostbankemploymentconditionswithDeutscheBank’sdefinedstandards.
Ensuringthatcompensationinitiativessupportthebank’sbroaderstrategywillremainakeypriorityfor2020.
Pooldeterminationmethodology
AsanEUheadquarteredinstitution,DeutscheBankissubjecttotheCapitalRequirementsRegulation(CRR)and Capital Requirements Directive 4(CRD4)globally,astranslatedintoGermannationallawintheGermanBankingActandInstitutsvergütungsverordnung(InstVV).ThebankcontinuestoapplytheInstVVrequirementsas minimum standards globally and ensure compliance with local regulatory requirements within a robust compensationframework.
VariableCompensation(VC)isadiscretionarycompensationelementthatenablesustorewardemployeesfortheirperformanceandbehaviors,whilereflectingthebank’saffordabilityandfinancialsituation.TherearethreecomponentsofVC–GroupVCComponent,IndividualVCComponentandRecognitionAward.
ThebankappliesarobustmethodologywhendeterminingVC,whichreflectsriskadjustedperformance(includingexanteandexpostriskadjustments)andisprimarilydrivenby(i)Groupaffordability,i.e.what“can”thebankawardinalignmentwithregulatoryrequirements,and(ii)performance,i.e.what“should”thebankaward in order to provide an appropriate compensation for performance while protecting the long-term health ofthefranchise.TheseaspectsapplytoboththeGroupVCComponentandtheIndividualVCComponent.
Thisyear’stotalamountofyearendperformancebasedVariableCompensationreflectsthebank’soverallperformance,inthecontextofitsstrategicrefocus,transformation,andthederiskingofitsbalancesheet,carefullybalancingtherecognitionofemployees’demonstratedsustainableperformanceandcontributionsagainstthebank’sreported2019fullyearlossanditsplannedpathtoimprovedprofitability.
The structure of the Group VC Component remained unchanged in 2019 and is based on four key performance indicators(KPIs):thebank’sCommonEquityTier1capitalratio,leverageratio,adjustedcostsandposttaxreturnontangibleequity.InlinewiththeIndividualVCComponent,KPIsaremeasuredagainsttherespectiveannualtargets.Throughout2019,consideringthebank’schangeinstrategyanditsrestructuring,theManagementBoardconfirmedanachievementrateof60 %,whichservesasabasistocalculatetheGroupVCComponentawardedtoeacheligibleemployee.
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Rewarding performanceDeutsche BankHR Report 2019
FortheIndividualComponent,discretionaryawardsaredeterminedbaseduponarangeoffinancialandnonfinancialfactors,includingdivisionalperformance,theemployee’sindividualperformanceagainstobjectivesandexpectations(reflecting“how”theperformanceoutcomeswereachieved),relativitieswithinpeergroup,andadherencetothebank’scorevaluesandbeliefs.
Formoreinformation,pleasealsoreferto DEUTSCHEBANK’S2019COMPENSATIONREPORT.
Workforce costs and revenues2019 2018 2017
Compensationandbenefits(in€million) 11,142 11,814 12,253Compensation ratio1 48.1% 46.7% 46.3%ØCompensationandbenefitsperØFTEinperiod(in€thousand) 123.0 123.6 125.4Shareofcompensationandbenefitsin%oftotalexpenses2 44.4% 50.4% 49.6%Wages and Salaries3 9,184 9,828 10,108Social Security costs3 1,958 1,986 2,145thereof:thoserelatingtopensions3 689 681 749Totalnetrevenues(in€million) 23,165 25,316 26,447ØRevenuesperØFTEinperiod(in€thousand) 255.7 264.9 270.61Compensationratio:Compensationandbenefitsasapercentageoftotalnetrevenues.2Totalnoninterestexpenses.3SupplementaryinformationtotheConsolidatedFinancialStatementaccordingtosection315aHGB.
Compensationandbenefitsbydivisionin € million
2019 2018 2017
CorporateBank(CB) 1.044 1.035 1.104InvestmentBank(IB) 2.468 2.666 2.866PrivateBank(PB) 3.519 3.613 3.635AssetManagement(AM) 832 787 812CapitalReleaseUnit(CRU) 443 635 758Corporate&Other(C&O) 2.836 3.079 3.078Total 11.142 11.814 12.253
UKGenderPayGapReportandtheGermanRemunerationTransparencyAct
IntheUK,legislationfromApril2017 requires all companies with 250 or more employees to report their gender paygapannually.In2019,thebankpublisheditssecondGenderPayGapReport.InourcombinedUKfigures,the median hourly pay gap narrowed slightly from 27.6 % to 27.2 %.Theincreaseinthemedianbonuspaygapfor 2018 compared to 2017(35.4 % to 67.7 %)resultsfromVariableCompensationpaidinMarch2018 based on performance year 2017.
InGermany,theGermanRemunerationTransparencyAct,whichcameintoforceinJanuary2018,entitlesemployeestorequestspecificaggregatedinformationabouttheremunerationofcolleaguesoftheoppositegenderincomparablejobs.In2019,94colleagues(78 %women,22 %men)madeuseofthisright,withnostructuraldiscrepanciesidentified(2018:268colleagues,64 %women,36 %men).
Digitaldevelopments
In 2019,digitalizationwasoneofDeutscheBank’srewardpriorities.Twomajorprojectscompletedweretheintroduction of Workday and the transition to Shareworks.
Workday,anewbankwideenterpriseresourceplatform,broughtincreasedaccessibilityofdataandstreamlinedprocessesforouremployeesandmanagers.Shareworks,anadministrationandreportingplatform,offersouremployeesanumberofadditionalbenefitsincludingenhancedvisibilityoftheirdeferredawardsandupcomingdeferredawarddeliveries.
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Rewarding performanceDeutsche BankHR Report 2019
9Closingremarks
55 About the report
56 Imprint
Aboutthereport
This report describes how the work of the Human Resources functionisanchoredin,andsupports,DeutscheBank’sstrategy.Itprovides transparency and the narrative around the impact of HR on the sustainable performance culture Deutsche Bank is thriving for.Furthermore,theHRReportoutlineskeyachievementsanddevelopments in2019intheareaofemployeeengagement,benefits and wellbeing, diversity and inclusion, attractingtalent,developmentofourworkforce,andtheremunerationofperformance.
The digitization of the HR processes to enhance the employee and manager experience is a vital component in the development ofourfunctionandreflectedinallareas.ThelaunchofWorkdayin2019underpinsthiscommitmentandmarksasignificantmilestone insupportingthebank’sstrategic innovationanddigital agenda as the platform provides managers and employees with the necessary processes and tools to perform day-to-day peoplemanagementactivities.
Reporting scope
ThisvoluntaryreportcoversrelevantHRtopics,whileonlyasubsection of employee statistics and strategic HR activities arecoveredintheAnnualReportandNonFinancialReportofDeutscheBankAG.FundamentalcompanyinformationandkeyfinancialfigurescanbefoundinDeutscheBank’sannualfinancialstatementsandManagementReport.
Reportcriteriaanddatatransparency
We are committed to making the value of HR more transparent by providing narrative and data transparency as a fundament for thedialoguewithourstakeholders,anddevelopingourreporting in line with their information requirements as an ongoingendeavor.
The bank wishes to provide transparency with regard to HR topics,andinsodoing,takesitsorientationbothfromstandardswhichalreadyexistandthosethatarecurrentlybeingdeveloped.A sound basis for industry-wide benchmarks can only be ensured ifothercompaniesalsoengageintransparentreporting.Thispublicationprovidesyouwithallofourkeyemployeefigures.ThereportingperiodcorrespondstoDeutscheBank’sfinancialyear(JanuarythroughDecember2019).TheHRReportisbeingmadeaccessibletothegeneralpublicinthisformfortheseventhtime.
Whencompilingkeyemployeefigures,weapplyrelevantcriteriafromtheGlobalReportingInitiative(GRI)G4Standard,aswell asthe as the new guidelines for Human Resource Management – Guidelines for Internal and External Human Capital Reporting issued by the International Organization for Standardization (ISO 30414)inDecember2018.
Feedbackandcomments
Please feel free to use the contact details in the imprint to send usyourfeedbackandcomments.
OnlinepresenceonHRtopics
COMPENSATIONREPORT
Careers
For detailed information about our training and career opportunitiesforstudents,graduatesandprofessionals,aswellasworldwidevacantpositions,seedb.com/careers.Insightsfrom our young employees can be found primarily on our social mediachannels.
Diversityonlinepresence
DIVERSITY:MAXIMIZINGPOTENTIAL
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Closing remarksDeutsche BankHR Report 2019
Imprint
Publisher
Deutsche Bank AG Taunusanlage 12 60262 Frankfurt am Main Germany Telephone:+496991000 [email protected]
Responsibleforcontent
KarenMeyer,TheresaMatlage
Workforcemanagementindicators
RainerBraun,MartinGeier,FabianGroschupf
Dateofpublication
March20,2020
Contactandfeedback
Deutsche Bank AG [email protected]
Annualfinancialstatementspublications
AllDeutsche Bank2019annualfinancialstatements publications can be found at DB.COM/19
©2020Deutsche Bank AG
Reproduction,includingexcerpts,onlywithwrittenauthorizationof the publisher and to include picture and text credit ofDeutsche Bank AG.
Editorial note
The contents of this report have been compiled in good faith andwithgreatcare fromvarioussources.The information,figuresanddatacontainedinthereportaretruetothebestofourknowledge.Nonetheless,noliabilitycanbeassumedfortheaccuracyorcompletenessoftheinformationprovided.Thepublishermadeeveryefforttoclarifyallreproductionrights.Please address any retroactive claims in this regard to us via [email protected]. We would like to express ourthanks to all our colleagues and external service providers for theirsupportandassistanceintheproductionofthisreport.Thereportisavailableonlineonly.TheGermanversioncanbeaccessedat: PERSONALBERICHT19
Forward-lookingstatements
This report contains forwardlooking statements. Forwardlooking statementsarestatementsthatarenothistoricalfacts;they include statements about our beliefs and expectations andtheassumptionsunderlyingthem.Thesestatementsarebasedonplans,estimatesandprojectionsastheyarecurrentlyavailabletothemanagementofDeutscheBank.Forwardlookingstatementsthereforespeakonlyasofthedatetheyaremade,and we undertake no obligation to update publicly any of them inlightofnewinformationorfutureevents.Bytheirverynature,forwardlooking statements involve risks and uncertainties.A numberofimportantfactorscouldthereforecauseactualresultstodiffermateriallyfromthosecontainedinanyforwardlookingstatement.
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Closing remarksDeutsche BankHR Report 2019