The success of the institutions in the Cooperative Financial Network heavily depends on its employees and their ability and dedication. HR activities in the Cooperative Financial Network are designed to create an environment in which employees can unlock their full potential and carry out their work even in challenging business conditions. The loyalty and close bond that exists between employees and their company is reflected in the long periods of service at the member institutions.

As can be seen from the chart on page 39, which shows years of service, around 66 percent of employees in the cooperative banks and at DZ BANK have been working at these organizations for more than 10 years and one in three employees has been with their bank for more than 25 years. Internal surveys confirm that the absolute majority of the employees who participated in these surveys are very satisfied with their job and regard it as important.

Strengthening the culture of learning and offering high-quality training are key pillars of the Cooperative Financial Network’s HR strategy. In 2023, the institutions supported their employees’ personal development by offering a variety of continuing professional development (CPD) activities alongside training courses that are mandatory due to regulatory requirements. The CPD opportunities for employees are complemented by a wide range of training and development activities offered by regional auditing associations and academies, including initial vocational training, advanced vocational training geared to current demands, and personal development.

For HR management at the institutions in the Cooperative Financial Network, this means introducing innovative HR concepts to continually counteract the shortage of skilled workers that prevails in the banking industry, as it does in other sectors. A strategic vision for HR has been drawn up to make sure that the HR divisions within the Cooperative Financial Network and the people working in it are fully equipped for the future. This strategic vision is aimed at helping the individual institutions’ transformation activities at local bank level. In 2023, work began in the following action areas: employer branding, employees as the key to success, and HR innovation.

Another challenge is to use active talent management to positively shape the changes in the institutions’ workforces resulting from demographic change. Attracting talented employees therefore remained a central plank of HR work in 2023, with an ongoing strategic focus on recruiting trainees and students, including those pursuing combined work and degree courses. This is reflected, for example, in the trainee statistics. In 2023, the ratio of trainees to other employees in the cooperative banks and at DZ BANK rose slightly to 6.7 percent (see chart on page 40).

The BVR believes that university graduates – particularly those who studied a business-related subject – view the cooperative banks as an attractive employer. The proportion of trainees undertaking degree apprenticeships combining work and study stood at 9.5 percent as at the reporting date. The proportion of employees with a degree increased to 9.8 percent (2022: 9.3 percent; see chart on page 41).

Further success in the Trendence School Leavers Barometer, a survey carried out by Trendence Institut GmbH, confirms the strong appeal of the institutions in the Cooperative Financial Network. For the 18th time in succession, the cooperative banks were once again among Germany’s best 100 employers, as chosen by schoolchildren, and received the ‘2023 employer of choice’ seal of approval. With more than 34,000 participants, the School Leavers Barometer is one of the biggest surveys regarding schoolchildren’s career goals and preferred employers.

Headcount in the cooperative institutions went up again for the first time in around a decade. Overall, the number of employees in the Cooperative Financial Network rose from 170,488 to 171,689 in 2023 (see chart on page 38).