What is the purpose of the new compliance management function?
A compliance function was established at ERGO in 2008. Since 2012 there has been a separate Compliance department that reports to the Chairman of the Board of Management. It is responsible for all issues relating to the ERGO code of conduct and deals with all questions from outside the company about compliance-related matters. Anyone who wants to report suspected violations of the law or rules can contact the Compliance department at any time. The purpose of the Compliance department is to protect the company and the company’s management and staff, to manage conflicts of interest, to guard the company’s reputation, to strengthen the company’s image and to promote the company’s corporate culture by actively managing its values.
To what extent does compliance play a role when it comes to incentives?
A directive on incentives was drawn up by the Compliance and Sales departments in order to ensure the appropriateness of all incentives offered throughout the sales organisation and prevent damage to the company’s reputation by providing concrete guidelines for the planning, organisation, execution and subsequent assessment of incentives. Staff are very clearly requested to contact the Compliance department if they become aware of any violations of this guideline.
What kind of motivational experien-ces will you offer your staff in future?
The directive on invitations to tender for incentives and the form to be taken by incentives sets out uniform enterprise-wide guidelines for the planning, organisation, execution and subsequent assessment of incentives. It covers travel destinations, trip durations, possible venues and activities and the requirements to be met by invitations to tender and the approval process.
To what extent are incentive trips an effective means of gratification for your company?
Incentives honour outstanding performance by sales partners. The focus is not on the value of the incentive but on the particular form it takes, such as an exclusive trip with colleagues. The commitment and success of the individual are the key factors. Sales partners learn they are held in high regard. We believe incentives are a fitting way to recognise outstanding performance in our sales organisation and to instil the corporate culture of mutual respect and partnership in our agents.
Do you have a system for evaluating the benefits of incentives?