At the end of April, Faubel will pay its employees a profit share totaling 490,662 euros. "We primarily owe the record turnover we achieved in 2018 to our employees' hard work day in day out. This profit sharing plan is our way to say thank you," explains Martin Kuge, who is in charge of Human Resources and Finance. For the fourth time in a row, sales by the Faubel Group went up — from € 32.2 million in 2017 to € 35 million in 2018.
Employee incentive and recognition
In addition to holiday and Christmas bonuses, profit sharing money is another example of the special benefits granted by Faubel in 2019. It will be paid to all full-time and part-time employees, apprentices/trainees and temporary workers who worked for the company last year. "This bonus is one of the measures introduced by Faubel to compete for skilled labor. The North Hessian job market may not be as competitive as it is in the Rhine-Main region or in Munich or Stuttgart, but we believe that a fair remuneration which is commensurate with the usual level in the region will be seen as an incentive by applicants and as a reward by employees," Kuge says.
This is why the management and the owner's family hold on to a labor-management contract where staff pay has been agreed with the trade union Verdi Hesse.