165 The type and Nature of their employment has an enor mous impact on the well being of an employee In times in which the fixed term contract has become the status quo we attach great importance to permanent employment relationships Of our 208 employees in 2018 only seven had contracts of limited duration And whenever possi ble we roll over such contracts into permanent ones Re gardless of contract our employees have the same num ber of working hours per week in most cases 40 With the exception of those employees whose contracts stipulate trust based working hours the hours worked are tracked using a time and attendance TNA system Overtime is capped by the company The number of overtime hours did not change significantly from 2017 to 2018 Over the course of that year a total of 949 overtime hours were paid out the rest were taken as comp time But of course we don t just pay for overtime It goes with out saying that our employees are also paid for their reg ular work hours Our standard starting salaries are high er than the legal minimum wage In 2018 we were 25 percent above the minimum wage level in Diepholz and 14 percent higher in Gronau This was a year on year in crease from 2017 And the future is bright In 2019 we will increase our salary levels yet again putting us even fur ther ahead of the legal minimum wage What has always applied to all our salaries is equal pay for equal work In other words men and women receive the same remuneration for equivalent positions If we compare the average salaries of the women employed by us with those of the men however an imbalance is evi dent In Diepholz the women are at 89 percent in Gro nau 69 percent This is primarily because in both loca tions more men currently occupy management positions than women and accordingly earn higher salaries Our managing directors are also all men at this time which also affects the average difference between women s and men s salaries The good news is that women are clos ing the gap From 2017 to 2018 the figures improved in both locations We generally attempt to keep the salary gap between our executives and other employees within reasonable limits but differences do still exist For instance in 2018 our Diepholz managing directors on average earned 7 5 times the median income level of the employees In Gro nau it was four times I am well employed permanent ixed term total male 76 3 79 female 88 3 91 permanent ixed term total male 23 1 24 female 14 0 14 How was this calculated It s easy Median income is the name for the value that lies exactly in the middle when all employee incomes except those of the managing directors are arranged in ascend ing order Then we looked at the average remuneration paid to the managing directors In order for these values to be conclusive we factored in all types of compensation including one off bonuses non cash benefits etc In addition we extrapolated the total annual remuneration for all employees to full time pay Et voilà And who decides how much people generally earn Since our com pany is not bound by collective bargaining agreements at our Die pholz location salary levels are agreed with the works council And we aim to achieve comparable remuneration in Gronau At both lo cations we offer fixed salaries without variable components in other words no performance related remuneration or the like So if people have a bad day they don t have to worry about going home with less in their pocket Which is a comforting thought And here are a few more numbers Gronau Diepholz As of 31 Dec 2018 People

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