The objective behind Victor's remuneration policy is to reward employees for their desired knowledge, experience, skills, behavior, and performance according to an internal system and in a market-based manner. Preventing negligent customer service is also a key objective of the remuneration policy. Through this remuneration policy, Victor ensures that employees always prioritize the customer's interests.
Victor's remuneration policy applies to all employees, including freelancers and temporary workers.
Performance management
All employees have a job description that defines their tasks, responsibilities, authorities, and knowledge requirements. An appropriate compensation level is established based on these job descriptions.
At the beginning of the year, the business objectives are translated into team objectives and discussed with the employees. The direct manager translates the team objectives into individual objectives if necessary. The objectives are formulated according to the SMART principle and are a maximum of 50% financially focused.
At the end of the year, the extent to which the goals have been achieved is evaluated, resulting in a performance rating category. This performance rating category is determined based on the employee's compliance with Victor's Greater Good (Code of Conduct) and the successful completion of the related compliance training.
Remuneration policy components
All Victor employees are eligible for a fixed income, variable remuneration and secondary employment conditions.
Fixed income
Victor has a salary scale consisting of eight levels (from A (lowest) to H). Each of these levels has a minimum and maximum salary range, within which a target range is set. These amounts are based on market data. Salaries are reviewed annually, both internally and externally.
Sales are reviewed annually on April 1st. Advancement within the salary scale depends on the outcome of the review and the available salary margin.
Variable reward (Bonus)
Employees may be eligible for a bonus. The bonus will be awarded for exceptionally good individual performance, in a manner that is objectively observable and quantified. The bonus is non-recurring, and the amount is partly related to Victor's monthly salary and financial results.
The bonus policy aims to encourage achievement of the objectives set for employees. These objectives should primarily be long-term, to prevent employees from focusing on short-term results.
Evaluation of remuneration policy
Victor's remuneration policy is periodically evaluated for effectiveness and amended where necessary to prevent undesirable developments. Victor's management is responsible for developing, implementing, and evaluating this policy.
