- Interview CEO
- Vetropack Locations
- Market environment offering opportunities and challenges
- Business model
- Strategy 2030
- Management Structure
- Organisation
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- Material Topics and Performance Review
- Customers and suppliers
- Finances
- Innovation and intellectual property
- Production and products
- Employees
- Environment
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- New designs
- Financial Report
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- At a Glance
- Financial Report Vetropack Group
- Consolidated Balance Sheet
- Consolidated Income Statement
- Consolidated Cash Flow Statement
- Changes in Consolidated Shareholders’ Equity
- Consolidation Principles
- Valuation Principles
- Notes
- Ownership Structure
- Company Participations
- Report of the statutory auditor on the consolidated financial statements
- Five Year Overview
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- Financial Report Vetropack Holding Ltd
- Balance Sheet
- Income Statement
- Notes
- Board of Directors’ (BoD) Proposal for the Corporate Profit Appropriation
- Report of the statutory auditor on the financial statements
- Five Year Overview
- Corporate Governance
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- Introduction
- Board of Directors
- MB Members
- Remuneration and Additional Information
- Shareholders’ Participation Rights
- Auditors
- Information Policy
- Contact Address
- Remuneration Report
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- Introduction
- Principles of the Remuneration Scheme and its Components Audited Information
- Organisation and Authorities for Determining Remuneration
- Description of the Remuneration Components
- Board of Director’s Remuneration
- Management Board’s Remuneration
- Comparison of Remuneration disbursed with the Remuneration approved by the 2018 and 2019 Annual General Assembly
- Shareholdings
- Report of the statutory auditor on the remuneration report
- Sustainability Report
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- Sustainability Report
Performance Review
Employees
Vetropack’s sustained growth and market success are largely due to its employees. Therefore, continuous commitment from employees, the promotion and development of talent and a learning organisation are crucial to remaining innovative and competitive.
To support its employees in the change processes resulting from digitisation and automation, the Group is creating a working environment that encourages employee development. Continuous learning is enshrined in the company’s vision and its fundamental values. Although changes create new opportunities for the company and its employees, change can also trigger a feeling of uncertainty and unease. The Group therefore pays particular attention to involving employees sufficiently in change processes and supporting their development.
Employee engagement
Employees take centre stage in the Vetropack Group’s sustainable performance. The company therefore focuses on continuous discussion with its employees. Greater focus on sustainability in the business environment and renewed interest in glass as a “green” product made a positive contribution to employees’ motivation, giving them a greater sense of assurance as to the sense and purpose of their work.
Vetropack’s “Group first” philosophy promotes its corporate culture and cohesion among the heterogeneous and diverse workforce in all countries. At the same time, Vetropack’s philosophy illustrates the advantages of an international company, such as international career opportunities and the exchange of best practices. In 2019, Vetropack continued its series of “CEO Talks” at all sites to foster open discussions between employees at all levels. Vetropack carried out a Group-wide engagement survey to check employee satisfaction for the first time in the year under review. The participation rate of 76% is evidence of employees’ confidence that top management takes their concerns seriously. The survey also creates the preconditions for transparent discussions about strengths and weaknesses in the company and provides the basis for changes and improvements. The results of the survey showed that issues such as management and communication are key to employees’ constant commitment and must be promoted more.
Vetropack Story: CEO TalksAttractive employer
Vetropack has always been known as a good employer at its locations. In conjunction with the considerable name recognition of the Vetropack brand as a high quality Swiss glass container manufacturer, the Group has always been able to attract top talent. The competences sought and their availability are changing with the global trends of demographic change, digitisation and automation, and diversity. As part of its revision of strategy, Vetropack reviewed its employer value proposition (EVP) and pursues a proactive approach to attracting talent. The aim is to make Vetropack known as a first-class employer and recognised brand outside its immediate reach.
Learning organisation
In a fast-moving sector with a scarce talent pool, highly qualified employees and their continuous development are crucial to Vetropack’s competition capacity.
At its in-house training centre in Pöchlarn (Austria), Vetropack ensures that valuable expertise is passed on to the next generation of glass makers before key personnel retire. The newly established Corporate Human Resources department was tasked with creating the framework conditions for a learning organisation and enshrining a continuous learning mentality in the company. The Human Resources department improves the range of learning and development opportunities continuously. In the year under review, Vetropack implemented a new learning management system and a library with 800 online courses for employees. Upcoming priorities include the development of specific curricula for each key area and each function. For the training and development of its employees, Vetropack pursues an integrated learning approach, which contains a mixture of classroom events within the Vetrocademy, accelerated onboarding programmes and customised online courses.
KPIs and instruments to measure progress and the efficiency of the learning organisation are currently being developed.
Talent management
In view of the competition for and lack of talent in the glass industry, the promotion and retention of talent are key factors in securing long-term corporate success
In the year under review, Vetropack implemented a “talent and organisation review process” (TOR) at Group level to improve talent management within the company further. The process comprises two steps, which include both a talent assessment and an assessment of the organisation. The talent assessment includes the Group-wide identification of employees who not only have the ambition and desire but also the abilities required to develop in their role to become an expert or a manager. The Human Resources department will work out a plan to encourage the development of talents with these employees and their line managers. In reviewing the organisation, Vetropack concentrates on identifying areas in which a succession solution must be secured.
Managers are critical to successful talent management. The company therefore encourages their skills in identifying talent and strengthening their loyalty to the company. To support executives, the Human Resources department has developed a special programme within the framework of the Vetropack Vetrocademy to accelerate learning progress for managers.
KPIs for measuring talent management include talent retention, staff turnover and the percentage of management positions filled internally compared with external candidates.
Fluctuation by gender
(rates and absolute numbers)
Occupational health and safety
As a responsible employer, the well-being and health of employees is a major concern for Vetropack.
The occupational safety team discusses safety matters across all plants. In 2018, a work group carried out an evaluation of requirements and highlighted potential for improvement in line with the “Safety first” philosophy. Cooperation and communication were further improved in the year under review. To ensure occupational safety and health protection continually, Vetropack has all production plants certified in accordance with ISO 45001 (Occupational Health & Safety). The company plans to start implementing measures to comply with the standard in 2020.
Vetropack aims to boost productivity and satisfaction at work and reduce absences through the proactive and preventive promotion of occupational safety and employees’ health. The company measures its progress at Group level through the industrial accident rate and the failure rate based on accidents at work. For internal purposes, additional objectives are set and pursued at the level of business units.
Key indicators occupational health and safety
Occupational safety: Work-related injury rates and lost days 1)
2019
2018
Occupational accident rate 2)
3.9
4.5
Lost days 3) due to work-related injuries or occupational diseases
167
167
Total lost days 3) incl. all cases due to non-work-related injuries or diseases
1 438
1 452
1) Per 200,000 scheduled working hours (≈100 full time equivalents).
2) Accidents on factory premises which necessitated medical treatment.
3) Working days are considered lost if an absence of more than half a day is reported.
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- Sustainability Report
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- Material Topics and Performance Review