Staff Expenditure and Value Added
Migros as an employer: attractive employment terms, fair wages with above-average salary growth and generous pension benefits.
Personnel costs
Real wages at Migros rose by an average of 0.95% as of 1 January 2013. As wages in the Swiss private sector rose by 12.1% in nominal and by 6.3% in real terms between 2004 and 2013, Migros increased its nominal wages by 15.85% and its real wages by 10.15%.
The employees play an important part in the contribution that Migros makes to the economic value added in Switzerland. As a result, they also make up a major proportion of Migros' social value added. In 2013 Migros spent 74% of its net value added on its employees.
Wage equality
Migros' employee management development remuneration system (M-FEE) consistently implements in practice the principle of equal wages for equal roles, performance and experience. The tool has a gender-neutral design. The principle therefore not only promotes equal wages for women and men, but also applies in general within Migros.
It ensures role, performance and distribution equality for wages and wage adjustments as the basis of a transparent, clear and fair wage policy.
Employee pension plans
The Migros Pension Fund (MPF) organises the occupational pensions for the policyholders of 45 associated companies of the Migros Group based on performance. Some 56'000 active policyholders and 27'000 pensioners are managed.
The MPF provides excellent pension benefits: for a full term of cover, the target benefit is 70.2% of the insured salary at the normal retirement age of 64 for men and women. For over-25s, the employer contribution is 17% of the insured salary, and the employee contribution 8.5%. Migros covers two thirds of the contributions and therefore lies well above the Swiss average.
The MPF also offers policyholders attractive purchasing possibilities to improve pension benefits as well as various options in the event of retirement, such as early retirement from the age of 58, semi-retirement alternatives (in agreement with the employer, retirement can be delayed beyond the age of 64) and freely selectable withdrawal options in place of a pension.
Due to a successful investment year with an overall performance of 8.4% and a coverage ratio of 116.9%, the Migros Pension Fund is in a good financial position.
Supplementary benefits
Migros emphasises its position as an attractive employer in Swiss retail with attractive additional benefits.
Migros grants all mothers 16 weeks of maternity leave at full salary and thereby exceeds the legal requirements. Every father can also take up to four weeks of paternity leave during the first year of his child's life. Two of these weeks are paid by Migros, and unpaid leave can be taken for an additional two weeks.
In the event of death, Migros will cover the cost of a special life insurance policy which pays the employee's bereaved family members up to three annual salaries. This benefit is available to both unmarried couples and same-sex couples.
Migros involves its employees in the company's success. In the first four years of employment, CHF 1'000 is paid into their M-Participation Account, which earns interest at favourable rates. In 2013 these employee deposits amounted to more than CHF 200 million.
In addition, the companies of the Migros Group grant their employees numerous discounts and favourable terms on many different products and services.