We perform

Our compensation framework is designed to attract, engage and retain the talented professionals we need to succeed globally, and to create a tangible link between performance and pay. We continue to embrace a culture where we pay for performance based on results, outcomes and behaviours – not on effort. We aim to provide compensation that is competitive within local labour markets to ensure that our employees focus on delivering outstanding results while supporting appropriate and controlled risk-taking.

Monetary and non-monetary reward schemes are in place throughout the organisation to recognise exceptional performance and behaviour by individual employees. We aim to offer our employees attractive benefit programmes and a comprehensive range of incentives. We believe these offerings help build a performance culture where employees are motivated and engaged to focus on client needs and make the world more resilient.

Sustainability-related Key Performance Indicators (KPIs) are defined for the Group and each Business Unit and Group Function. These KPIs are aligned to Swiss Re’s Group Sustainability Strategy and take account of our ambitions and identified risks. At the end of each year, each unit reports on its performance. The outcome is considered as one of the four qualitative dimensions of the assessment for our annual bonus pool (Group API pool) and therefore influences compensation for all employees, including members of the Group Executive Committee.

Continuous performance management

At Swiss Re, we understand that sustainable performance is only achievable if we take care of our people and create an environment in which employees can grow and perform at their best. Our people-centric, continuous performance management approach has been designed to help our employees identify what may be holding them back, what inspires them and what helps them move forward.

In essence, our performance management approach is all about enabling employee performance via regular feedback as opposed to year-end only, with a clear focus on development and outcome. Through ongoing check-ins and regular adaptation of goals and priorities, our employees are empowered to take decisions, adapt more quickly to business needs, and drive financial performance.

Our award-winning continuous performance management approach is underpinned by key principles such as valuing outcomes over processes, increasing accountability, differentiating performance and pay, and increasing transparency in the year-end performance review systems.

Performance is assessed on the basis of both the “what” (key contributions and deliverables achieved) and the “how” (behaviours demonstrated). The “how” dimension is key to ensuring our leadership imperatives are embedded and lived.

In 2021, our feedback platform was enhanced with performance-related features such as goal-setting, check-ins, team dashboards and year-end reviews. This holistic platform further enhances the employee experience. As conversations on performance and personal development should not be limited to the traditional reporting lines, the tool allows cross-functional collaboration and transparency about goals. Over 21 000 “feedback moments” occurred between 14 000 employees via the tool in 2021.

Being a parent at Swiss Re

At Swiss Re, we understand that having children and raising them is a source of great joy and that new priorities shape day-to-day routines once employees become parents or carers. We want to help our employees balance their career and family commitments, allowing them to always put their families first. We therefore offer a range of programmes and support services depending on local needs, for example holiday care or day care.