LLB as employer
We are in no doubt that one of the greatest challenges for any company is being able to recruit and develop excellent and committed employees. We are therefore constantly striving to raise our profile as an attractive employer. We offer attractive conditions and are ahead of the competition when it comes to winning talented employees.
Corporate culture and value basis
The LLB Group’s vision is encapsulated in the motto: “We set standards for banking with values.” Our managers and employees are motivated to act in line with our values: integrity, respectfulness, excellence and pioneering. By living these values, our managers spread the culture throughout the organisation. This is all the more important at a time when LLB has to adapt to constantly changing markets and client needs. For this to succeed, we need employees who are willing to engage and have the courage to initiate improvement processes. With the cultural journey launched in 2018, we encourage the employees to get involved, to question themselves and to exchange views.
Performance pledge and employee development
It is important to us that the LLB Group is perceived as an attractive employer that differentiates itself from its competitors through three key strengths: We offer a corporate culture based on partnership, interesting work content and plenty of scope for growth. High-achieving employees have excellent development opportunities and prospects.
The performance pledge made by Group Human Resources is being lived out: Enthusiastic individuals should be able to advance themselves and the LLB Group. We want to achieve a top-class performance together. The performance pledge was set out in an HR strategic vision (see illustration below). This is an important instrument to raise awareness of the supportive yet demanding work environment.
LLB as employer
As at the end of December 2018, the LLB Group had 1'086 full-time equivalents (2017: 867). The strong growth is due on the one hand to organic factors – LLB increased the size of its team of client advisers by 20 to 225 employees in line with its strategy – and on the other to the acquisition of both Semper Constantia Privatbank AG (182 full-time equivalents) and LB(Swiss) Investment AG (12 full-time equivalents). With 628 full-time equivalents (2017: 598) in Liechtenstein, LLB ranks among the largest employers in the Principality.
Value-oriented compensation
The LLB Group offers attractive employment conditions. It spent CHF 182.4 million (2017: CHF 155.4 million) on salaries and social contributions in 2018 (see "Notes to the consolidated income statement").
We have a modern compensation system that is considered exemplary in the banking sector. The LLB Group takes aspects of value orientation into consideration in all areas of the company. For example, the compensation model for the majority of employees includes a component of pay that depends on the company’s performance. In 2013, we decided to introduce the Market-Adjusted Performance Indicator (MAPI) so as to be able to make a careful and objective evaluation of the management’s performance (see chapter “Compensation report”).
The MAPI enables us to carry out a neutral and holistic evaluation of the management’s performance. This is done by comparing the long-term stock return of the LLB Group (total shareholder return, TSR) with the corresponding value of a comparable group. The difference between the TSR of the LLB Group and that of the comparable group gives an indication of the actual performance of the company’s management. The model was developed in conjunction with FehrAdvice & Partners AG, Zurich, and is based on the results of behavioural economics research carried out by Professor Ernst Fehr from the University of Zurich.
The LLB Group’s compensation model is considered exemplary in Switzerland. The Swiss Institute of Directors voted it the best salary model in 2016 of all companies listed on the Swiss stock exchange.
Equal pay for equal work
We set great store by fair compensation that explicitly recognises skills and performance. Women and men in the same position and at the same performance level are in the same pay scale and wage model. This is valid for all our business locations.
LLB as a regional employer
It is important to us that our managers understand the mindset and concerns of our clients. And for this reason, almost 100 per cent of the managers and the majority of employees in the main business locations have their roots in their respective region. As a result, they are highly dedicated to the company and have a high level of integrity. And they also take a long-term view, which is very much appreciated by the clients.
To meet the demand for skilled employees, we rely on commuters who travel every day from eastern Switzerland (2018: 243; 2017: 226) and the Austrian state of Vorarlberg (2018: 83; 2017: 73) to Liechtenstein. This makes LLB a major regional employer in the Rhine Valley. Bank Linth recruits almost all of its professionals from the Swiss regions of Lake Zurich, Sarganserland and Winterthur.
Internal communication channels
“Integrity – we create clarity and stand by our word” is a value our company embodies. It is also the basis for internal communication as a clear and consistent approach increases acceptance among employees. Through the StepUp2020 strategy and the associated corporate targets, the employees understand where we stand and where we are going.
The intranet is the most important channel for us for communicating internally. The Group CEO also uses this channel to publish a quarterly newsletter in which he informs staff about ongoing projects and new developments. At least once a year, the Group CEO invites all the employees to a Group Forum, which is broadcast by livestream to our representative offices and subsidiaries abroad. Other channels include the annual Group Night and biennial events held by our six divisions. And “InSight”, the staff magazine, is published four times a year.
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2018 |
2017 |
2016 |
2015 |
2014 |
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Employees |
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Number of employees (full-time equivalents) |
1'086 |
867 |
858 |
816 |
893 |
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Full-time employees |
953 |
769 |
767 |
674 |
789 |
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Part-time employees |
280 |
218 |
207 |
202 |
244 |
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Apprentices |
33 |
36 |
38 |
42 |
47 |
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Young talents * |
13 |
4 |
11 |
7 |
6 |
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Employee retention |
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Staff turnover rate in per cent |
11 |
11 |
10 |
13 |
12 |
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Average length of service in years |
9 |
10 |
10 |
11 |
10 |
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Average age in years |
41 |
40 |
40 |
40 |
40 |
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Diversity and equal opportunities |
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Number of nations |
38 |
36 |
39 |
31 |
34 |
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Share of women in per cent |
43 |
43 |
42 |
44 |
45 |
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Training and professional education |
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Training costs in CHF thousands |
1'802 |
1'384 |
1'570 |
1'195 |
1'191 |
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of which SAQ certification costs in CHF thousands |
410 |
244 |
239 |
130 |
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