Publication as an annex to the Combined Management Report 2022
According to the German Pay Transparency Act (EntgTranspG), employers are obliged to prepare a report on equality and equal pay if they generally employ more than 500 employees and are obliged to prepare a management report in accordance with the German Commercial Code. This "Report on Equality and Equal Pay" was prepared for PUMA SE in accordance with Sections 21, 22 EntgTranspG and is published as an annex to the Combined Management Report 2022.
Respect, tolerance and equality are integral components of PUMA SE's corporate culture. They have been anchored in the PUMA Code of Ethics since 2005. Adequate and equal remuneration for equivalent activities regardless of gender is one of the basic principles of PUMA's remuneration policy. In 2010, PUMA joined the "Diversity Charter" corporate initiative. The implementation of the "Diversity Charter" aims to create an appreciative working environment for all employees - regardless of age, ethnic origin and nationality, gender and gender identity, physical and mental abilities, religion and worldview, sexual orientation and social origin. In addition, PUMA has joined the global non-profit organization "Catalyst" as part of a cooperation aimed at increasing the representation of women in corporate management and promoting equal access to career opportunities.
The gender distribution of employees in the PUMA Group is balanced today, with approximately 50% female employees and 50% male employees.
In 2022, women accounted for 44% of all management levels worldwide. Thanks to various measures with which PUMA has worked on equal opportunities, this figure has increased continuously in recent years (2018: 40%, 2019: 41%, 2020: 43%, 2021: 44%, 2022: 44%). However, we are not satisfied with this and are striving to increase the proportion of women in management positions, especially at the higher management levels, worldwide in the coming years. Thus, the Supervisory Board of PUMA SE has set a target of at least 2 women (33%) for the proportion of women on the Supervisory Board. For the Management Board, the Supervisory Board has set the following targets for the proportion of women: (i) at least 1 woman (25%), on condition that PUMA SE has four Management Board members, (ii) at least 1 woman (20%), on condition that PUMA SE has five Management Board members, (iii) at least 2 women (33%), on condition that PUMA SE has six Management Board members. The new targets are to be achieved by October 31, 2026.
In addition, with regard to PUMA SE, the Management Board has set a target of 30% for the first management level below the Management Board and a target of 35% for the second management level below the Management Board. At Group level, the share of women is to be 30% for the first management level below the Management Board and 40% for the second management level. The implementation deadline here is also October 31, 2026.
PUMA wants to continuously support the development of women in management positions. For this reason, we offer special training and access to inspiring networks. The exchange with experienced female managers is intended to encourage and motivate female employees to take on leading roles within the company themselves.
As a family- and life-phase-conscious employer, we take a deeper look at the needs of families and, beyond that, at the needs of employees throughout their working lives - from entry to exit. The sustainable design of our P&O policy was awarded the "audit berufundfamilie" quality seal in 2015 and 2021.
Flexible working time models and the option of part-time and mobile working give employees maximum flexibility in terms of location and time. Additional leeway is provided by the offer of sabbaticals. We also offer places in kindergartens and daycare centers, a parent-child office, a breastfeeding room, an external service provider for childcare and care of relatives, life coaching, and vacation programs for employees' children. These measures show that we are systematically and sustainably committed to a family-friendly working environment and make it a natural part of our corporate culture.
In 2022, PUMA received the German Diversity Award from the "BeyondGenderAgenda" network in the Company of the Year category. "BeyondGenderAgenda" aims to secure and expand the international competitiveness of German business in the long term by integrally embedding diversity, equity & inclusion (DE&I) in the DNA of listed and medium-sized companies. Based on the link between DE&I and business performance, the aim is to ensure equal opportunities for executives regardless of gender, age, cultural origin, sexual orientation, gender identity, and physical impairment when filling management board positions and supervisory board mandates, thus bringing about a cultural change with the involvement of politics, society, and business.
As a further measure to promote equality between women and men, the General Equal Treatment Act (AGG) and potential violations are addressed both in our training for managers on the topic of personnel selection and in the training on labor law for managers.
We see the fact that PUMA has had two women on the Management Board of four since January 1, 2023, in the form of Anne-Laure Descours and Maria Valdes, as a success of our efforts to achieve equal opportunities.
PUMA SE is bound by collective bargaining agreements. The grouping into the individual collective bargaining groups is carried out in a gender-neutral manner on the basis of the collective pay agreement.
PUMA attaches great importance to promoting equal pay. Therefore, as part of a global job evaluation and leveling project, we evaluated all positions on the basis of their job description according to a well-known job evaluation method and implemented a grading structure based on this. Since the criteria to be evaluated refer exclusively to characteristics of the function - not to the job holder - the remuneration system is gender-neutral in the sense of the EntgTranspG. This allows us to rule out gender discrimination that originates in the remuneration system.
This grading structure enables us to implement the annual salary increase process in a structured, standardized and transparent manner. In the annual salary increase process, only the two criteria of individual performance assessment and position in the salary band are taken into account. The increase percentages are agreed in advance with the Works Council in a corresponding table and are transparent to managers. This procedure compensates for inequalities within a salary band. In addition, employees on leave of absence (e.g. maternity leave, parental leave, sabbatical) also participate in the salary increase process and receive a salary increase in line with their percentile and a performance assessment of 100%. This ensures equal treatment and prevents the emergence of pay gaps.
In addition, the bonus structure at PUMA is also designed to be non-discriminatory in that the bonus component is linked to the position level and only company performance indicators are taken into account.
Based on the grades, we conducted a gender pay gap analysis for all German employees for the first time in 2022 and were certified as a "Universal Fair Pay Analyst" by the "FPI Fair Pay Innovation Lab". Taking into account the control variables partial retirement, age, time in position, recruited internally/externally, children, part-time, performance assessment, job family group, management responsibility, nationality and grades, women at PUMA in Germany receive the same target direct remuneration as men. Excluding potentially discriminatory factors such as part-time employment and children, the analysis still showed a minor pay gap, which we would like to close by next year.
It goes without saying that employees have the opportunity to obtain information about their individual pay equity within the framework of the EntgTranspG.
In addition, we are in constant dialog with the employee representatives of PUMA SE on these issues.
Statistical data as of December 31, 2022:
Number of employees: 1330
Number of full-time employees: 1173 (88%)
Number of part-time employees: 157 (12%)
In the years 2018 to 2022, we did not employ any employee with affiliation to the third gender at PUMA SE.