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6 Daimler 360 DEGREES – Facts on Sustainability 2008 Economy EC3 Core Coverage of the organization’s defined benefit plan obligations Global Compact Print (page) Web Further information Degree 53 x The GRI indicator EC3 refers to the type of pension offered to employees. We think it unlikely that defined benefits to pensions can be more effectively assessed than defined contributions. By providing company pension schemes, a corporation has substantial long-term obligations toward its employees. It is crucial for the company that the promised services are predictable, achievable, and low-risk. It is difficult to portray all of the pension-related data for the entire Group, because the pension plans in the various countries and companies differ greatly with regard to legal requirements and market needs. The figures for liabilities and coverage are taken from the Consolidated Financial Statements for 2007. It is also very questionable whether the pension plan’s sustainability can be assessed on the basis of the current funded status, since the funds are very volatile when they are invested in assets. Such fluctuations can result in a lower level of funding at the end of the year. The company offers retirement benefits in the form of pension plans. Daimler offers defined benefit pension plans as well as defined contribution plans. In Germany, it is illegal to offer retirement benefits solely as defined contribution plans. Daimler AG offers defined contribution plans to its executives, and defined benefit plans to employees subject to collective bargaining agreements. Daimler provides retirement benefits through external measures as well as through direct offerings. The capital for covering the liabilities of the employer’s direct offerings are invested in separate, outsourced funds. As of December 31, 2007, the present value of the Daimler Group’s defined benefit obligations was € 15,686 million. Deducting fair value of plan assets of € 13,774 million leaves a funded status of € 1,912 million. The balance sheet lists € 3,038 million in provisions for pensions and similar obligations. In addition, there are provi-sions totaling € 790 million for post-employment health and life-insurance benefits. The figures were taken from the Notes to the Consolidated Financial Statements. According to Daimler’s Pension Policy, the Group’s pension plans should be designed to conform with the general market usage of the country in question. Since pension levels vary greatly worldwide, it’s not possible to say how high they generally are as a percentage of the employees’ wages and salaries. In addition, the Daimler Group also offers retirement benefits that are not dependent on an employee’s remuneration. General statements cannot be made regarding these benefits. In Germany, for example, all permanent employees of Daimler AG have a right to a pension. The figures were taken from the Notes to the Annual Report.
7 Daimler 360 DEGREES – Facts on Sustainability 2008 Economy EC4 Core EC5 Add EC6 Core EC7 Core EC8 Core EC9 Add Significant financial assistance received from government Range of ratios of standard entry level wage compared to local minimum wage at significant locations of operation Policy, practices, and proportion of spending on locally-based suppliers at significant locations of operation Procedures for local hiring and proportion of senior management hired from the local community at locations of significant operation Development and impact of infrastructure investments and services provided primarily for public benefit through commercial, in-kind or pro bono engagement Understanding and describing significant indirect economic impacts, including the extent of impacts Global Compact Principle 1 Principle 6 Print (page) Web Further information Degree 54 27 26 26, 65–68 26–27 x x x x x x Financial assistance can be provided not only by the German federal government but also by state, local, and municipal governments, and the form such support takes can vary (e. g. direct subsidies, sale of property at reduced prices, tax breaks, etc.). But a detailed provision of such information is strictly business confidential. See Annual Report, p. 137 f. Reporting on the Group’s purchasing volume represents only one of many possibilities for quantifying procurement performance. In addition, there are several different ways to define and interpret such figures, which results in less clarity and transparency. Daimler therefore no longer reports on its procurement volumes. – As an international company, Daimler harnesses the diversity of its employees, without which it could not be as innovative and creative in its products and markets. The great majority of Daimler’s executives worldwide were developed and promoted from the company’s local management. These executives have gone through local, regional and, in some cases, international stages of development in a wide variety of the company’s competence and decision-making centers and divisions. Temporary regional and international assignments are crucial in this regard, as they not only enable the executives to gain the required knowledge and skills but also provide assistance to the business units that are in need of knowledge transfer and direct support. These assignments go hand in hand with the many successful and ongoing efforts to promote local talents and high potentials through direct recruitment and Daimler’s globally uniform trainee program CAReer. – –
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