Every Summer at the Berlin based KNAUER Wissenschaftliche Geräte GmbH employees have more to look forward to than just the beautiful weather. Each July all of KNAUER’s employees are invited to the company’s quarterly financial presentation, where they can find out how the company is performing and, consequently, how much of this success will be shared with them via the company’s profit-sharing bonus scheme.
Alexandra Knauer and Carsten Losch, Management. Image Credit: KNAUER
The company, which currently has 160 employees and is due to celebrate its 60th birthday next year, is led by Alexandra Knauer and Carsten Losch who agree that any success felt by the company should be felt by the employees too. KNAUER is a profitable company and the amount of the profit-sharing bonus changes depending on the company’s results that year.
It is important to me that our employees can share in the company’s success, and by doing this they are more likely to feel connected to KNAUER and think with the company in mind. We want our success to be shared and for our customers to feel that success in their wallets!"
Carsten Losch, Joint CEO, KNAUER Wissenschaftliche Geräte GmbH
KNAUER’s simple profit-sharing scheme
Following the publication of the audited annual financial statements 17% of the annual net profit is pooled into the profit-sharing bonus pot. Profits and losses from the company’s shareholdings are deducted, if needed, so they have no influence on the premium amount. The remaining profit is then used to invest in the business and to increase liquidity.
2020 was a highly successful year for KNAUER with the 17% profit-sharing bonus pot sitting at an extremely healthy EUR 500,000. This success is rooted in KNAUER’s venture into the design and production of systems for the production of lipid nanoparticles, a key component in the mRNA vaccines being used to fight the corona virus.
The share of the bonus pot that employees are entitled to depends on their length of service at KNAUER. Any employees who had been at KNAUER for 2 years by the cut-off date of 31 December 2020 receive a full share of the bonus, with newer employees gradually earning the full entitlement – For a service of 6-12 months employees receive 25% of the share, and for a service of 1-2 years receive 50% of the share. For periods in which employees were not able to make an active contribution to the company’s success, for example if they were on probation, on maternal or paternal leave, or other long absences, there were corresponding deductions. This profit-sharing bonus scheme is a tried and tested method at KNAUER with the clear rules keeping it easy to calculate.
KNAUER’s profit sharing scheme helps to make their employees feel valued whilst helping the company keep hold of some of the best heads in the business – employees who leave the company before the bonus is paid-out forfeit their share. This rule means the profit-sharing bonus is not just a bonus for the employees’ hard work but also a bonus for, and a sign of appreciation of, their loyalty.
We are beyond thrilled to announce that the full bonus for employees this year is EUR 4,380 and is EUR 700 for trainees.