Wages & salaries increase
With around 480,000 employees, we are one of the world’s largest employers. Staff costs increased in the reporting year to approximately €17.8 billion and relate mainly to remuneration. They include wages, salaries and compensation as well as all other benefits paid to employees of the Group for their services in the year under review. Social security contributions relate in particular to statutory social security contributions paid by employers. Retirement benefit expenses include contributions to defined performance- and contribution-based pension plans that we maintain in several countries. For information on the principles of our compensation system, please refer to the chapter on our employees in this report.
Staff costs also include remuneration paid to both the Board of Management and Supervisory Board. In the reporting year, the total remuneration paid to the Board of Management amounted to €20.5 million; total Supervisory Board remuneration amounted to €1.4 million. These figures include share-based remuneration. The remuneration paid to the Board of Management and the Supervisory Board represents a 0.01% share of total staff costs.