The CEO of Europe's most valuable company says he is tying his pay to employee satisfaction
In an internal memo, Christophe Fouquet said ASML will incorporate employee satisfaction into its compensation strategy for top executives.
ASML CEO Christophe Fouquet announced a new compensation strategy, tying executive pay to employee satisfaction. This move comes as the company undergoes a major reorganization and faces declining employee engagement scores. In a memo to employees, Fouquet explained that ASML's executive team identified six key questions in an annual survey, which were combined into a new Workplace Experience Index.
This index will now influence the remuneration of senior leaders, including the Board of Management, in ASML's Long-Term Incentive plan. The six questions cover various aspects of employee morale, such as sharing opinions without fear of retaliation, confidence in senior leadership, understanding one's role, efficiency of teams, and managers showing care for individuals.
ASML, a leading supplier of chipmaking equipment to TSMC and Intel, aims to reduce bureaucracy by cutting around 1,700 jobs and streamlining its organizational structure.
Written by urgent.news from Business Insider's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
