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Benefits & Rewards
Bayer is committed to providing state-of-the-art benefits to its employees. Benefits contribute to individual and family health, increase financial security, and help create a comfortable work-life balance that improves quality of life.
We ensure a high level of social protection in our workplaces. Nearly all Bayer Group employees have health insurance as well as access to a company pension plan. The working conditions for over half of our employees are governed by collective or company agreements. We are constantly working to increase the benefits we provide and our goal for the future is to have the highest level of social protection available for all employees.
An important principle of our benefits and rewards approach is to link employees’ compensation to their performance, incentivizing personal growth and achievement. Regular benchmarking against global standards sets base salaries in line with the requirements of each position. Salaries are then supplemented by performance-related compensation and extensive additional benefits.
Bayer’s compensation packages are designed to meet the diverse needs of our global workforce and include elements like base salary, bonuses, long and short-term incentives, and benefits.
Importantly, we regularly check in with external benchmarks and internal measures to ensure people at our company are fairly compensated.
Because creating a family-friendly workplace is important to us, our employees can take advantage of benefits that allow them to lead productive working lives that are harmonious with the priorities of their families. Bayer offers a variety of options that allow employees to choose the most appropriate work schedule to support both their personal and professional needs.
Bayer aims to ensure that all employees have adequate access to affordable, effective health services. Medical checkups, on-site medical services, exercise programs, and assistance after recovery from illness are a few ways we support our employees’ wellbeing. Specific healthcare plans can also complement or supplement government health programs, and can improve employees’ quality of life.
With more people living longer and pressure on government pension systems increasing, company retirement benefits such as ours offer good opportunities for individual optimization. Employees may customize their retirement benefits to allow them to accumulate more money for the future, purchase stock, and even convert a portion of their salary to entitle them to early retirement.