Bestandsicherung

English translation: Pay protection

19:27 Nov 16, 2018
German to English translations [PRO]
Bus/Financial - Human Resources
German term or phrase: Bestandsicherung
The context is a change in the remuneration system for management at an automaker.

I'm having trouble understanding the term Bestandsicherung (and also phrasing "abgestuft abgesichert").

Bestandsicherung Beispiel: Bestandssicherung für 2019 = Fix (2019) + JB (Ist für 2019) + PSP (Ist für 2019 ausgezahlt in 2022) – ausbezahlte Vergütung Referenzjahr (2018 in 2019).
[JB is the annual bonus and PSP the performance share plan]

Die individuell ausbezahlte Direktvergütung für das Geschäftsjahr 2018 wird über drei Jahre abgestuft abgesichert. Diese abgestufte Bestandssicherung beträgt für das Geschäftsjahr 2019 100%, für 2020 90 % und für 2021 80 %.

Can anyone help me by explaining what they mean and possibly providing a suggestion?
TIA!
nruddy
Mexico
Local time: 07:50
English translation:Pay protection
Explanation:
The context here is a change in management remuneration. In the UK, “pay protection" refers to measures which safeguard existing employees’ current salary levels where their employer changes its remuneration structures. In Germany, I believe the phrase normally used for this concept is „Bestandschutz”, but I suspect that „Bestandsicherung” has the same meaning.

I would translate the phrase „wird über drei Jahre abgestuft abgesichert“ as “will be protected on a reducing basis over three years”.
Selected response from:

Catherine Byers
United Kingdom
Local time: 13:50
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
3Pay protection
Catherine Byers
1management employee retention plan
andres-larsen


  

Answers


5 hrs   confidence: Answerer confidence 1/5Answerer confidence 1/5
management employee retention plan


Explanation:
Management employee retention plan

Example: Inventory for 2019 = Fixed salary (2019) + JB annual bonus (is for 2019) + PSP performance share plan (will be paid for 2019 in 2022) - remuneration paid in reference year (2018 in 2019).

[JB is the annual bonus and PSP the performance share plan]

The individually paid direct remuneration for the financial year 2018 is tiered over a period of three years. This tiered management employee retention plan is 100% for the financial year 2019, 90% for 2020 and 80% for 2021.

sources:

What is employee retention? - Definition from WhatIs.com
https://searchhrsoftware.techtarget.com/.../employee-retenti...
31 may. 2018 - Employee retention is the organizational goal of keeping talented employees and reducing turnover by fostering a positive work atmosphere to promote engagement, showing appreciation to employees, and providing competitive pay and benefits and healthy work-life balance.

How to Write a Retention Plan | Chron.com
https://work.chron.com › ... › Recruiting & Retention
29 jun. 2018 - Your company's retention plan is only as good as the support it receives from managers. Management support for employee retention is ...

7 Tips To Better Employee Retention - Forbes
https://www.forbes.com/.../7-tips-to-better-employee-retenti...
3 mar. 2015 - As the Wall Street Journal notes, a high employee turnover rate can cost “twice an employee's salary to find and train a replacement.” Not only ...

Employee retention: 6 strategies for keeping top talent | CIO
https://www.cio.com/.../how-to-improve-employee-retention.ht...
Employee retention is a critical issue as companies compete for talent in a tight economy. The costs of employee turnover are increasingly high — as much as ...

Employee Retention - Meaning and Important Concepts
https://www.managementstudyguide.com/employee-retention.htm
Employee retention refers to all those practices which let the employees stick to an organization for a longer time. Employee retention techniques go a long way ...

What Is Employee Retention and What Factors Contribute to It?
https://business.dailypay.com/blog/employee-retention
14 may. 2018 - Employee retention is an organization's ability to keep its employees. Employee retention is usually represented as a percentage. For example ...

Talent Management Employee Retention - Tutorialspoint
https://www.tutorialspoint.com/...management/talent_manageme...
Talent Management Employee Retention - Learn Talent Management in simple and easy steps starting from basic to advanced concepts with examples ...

--------------------------------------------------
Note added at 5 hrs (2018-11-17 00:34:54 GMT)
--------------------------------------------------

small correction [management employee retention plan instead of inventory]:

Example: Management employee retention plan for 2019 = Fixed salary (2019) + JB annual bonus (is for 2019) + PSP performance share plan (will be paid for 2019 in 2022) - remuneration paid in reference year (2018 in 2019).

[JB is the annual bonus and PSP the performance share plan]

The individually paid direct remuneration for the financial year 2018 is tiered over a period of three years. This tiered management employee retention plan is 100% for the financial year 2019, 90% for 2020 and 80% for 2021.

andres-larsen
Venezuela
Local time: 08:50
Native speaker of: Native in EnglishEnglish
PRO pts in category: 12
Login to enter a peer comment (or grade)

2 days 3 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
Pay protection


Explanation:
The context here is a change in management remuneration. In the UK, “pay protection" refers to measures which safeguard existing employees’ current salary levels where their employer changes its remuneration structures. In Germany, I believe the phrase normally used for this concept is „Bestandschutz”, but I suspect that „Bestandsicherung” has the same meaning.

I would translate the phrase „wird über drei Jahre abgestuft abgesichert“ as “will be protected on a reducing basis over three years”.


Catherine Byers
United Kingdom
Local time: 13:50
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Login to enter a peer comment (or grade)



Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.

KudoZ™ translation help

The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.


See also:

Your current localization setting

English

Select a language

Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search