Annual Report 2006 - Munters

Step by step towards sustainable developmentPersonnel– a strong and boundless company cultureHow do you create a successful global company in which people can develop and enjoy workingtogether? At Munters, the objective of our human resources operations is to make use of the powerand potential inherent in every employee. With entrepreneurial spirit as our guiding principle, wehave fostered a strong and vital company culture from one country to the next, creating, in turn, thebest conditions for maintaining an effective supply of skilled personnel for the company.Munters is a global, decentralized company comprising small,dynamic entities that are allowed to grow and develop in theirlocal markets within a Group-wide managerial framework.This entails that goals and guidelines are made explicit at thesame time as employees within each entity are allowed topursue and develop their business on the basis of their uniqueabilities and in response to local conditions. Managers areresponsible for motivating and developing their employees, butreceive strong support from the Munters Management Manual,a site on the intranet that presents the company’s guidelines inaddition to useful tips and advice for day-to-day work.Recruitment and development of competenceThe culture of the company also provides opportunities foremployees to develop in their career roles and advance to newpositions within the company. For this reason, Munters strives,in the first instance, to recruit internally when new positions areintroduced. Munters Continuity Planning, the Group’s modelfor succession and development planning provides strong guidancein connection with finding people with the right skills tofi ll various posts. All managers are expected to analyze theirdifferent needs in terms of competence at an early stage, andidentify talented employees who, with the right support andopportunities for development, have the potential to eventuallybecome candidates for key positions within the company.The task of making use of abilities is based in part on thepersonal development interviews that take place every year withthe individual employees. By discussing results, ambitions,expectations, and personal objectives, the groundwork is laidfor an individual development plan. Evaluations also provide abasis for judgment with regard to promotion and remuneration.Cooperation without boundariesFrom a wider perspective, competence development involvesaddressing the company’s needs as a whole. To this end, it isimportant to create arenas for the exchange of knowledge andexperience among employees. For example, Munters regularlyarranges international meetings for managers and key employeesto take stock of new ideas that can contribute to better businessor enhanced competitiveness in local markets. Divisionwideand local training programs are held on an ongoing basis.Within MCS, a training program for certification of projectleaders was implemented during 2006 with the goal of ensuringlong-term quality of customer supply lines. During the year,a comprehensive training program for salespeople in Europewas carried out by the Dehumidification Division. The centraltheme of the program has been the building of long-term customerrelationships. The program extends to price-negotiationand margin-development techniques.As a way of assessing the work environment, Munterscarries out annual attitude surveys encompassing all of thecompany’s employees. The results are reported internally andprovide a basis for development within the different divisions.It is a testimonial to the effectiveness of our programsthat Munters UK was ranked among the 100 most popularcompanies to work for in a 2006 survey carried out by anindependant survey company.Variable remuneration with explicit goalsAt Munters, there is a strong connection between individualperformance and growth in company profits. The company hasinstituted various programs for variable remuneration, includinga standardized reward system for sales and service personnel 10 M U N T E R S A N N U A L R E P O R T 2 0 0 6