Our remuneration system does not provide any incentive to pursue short-term advantages. For example, we do not pay bonuses; staff have fixed salaries. Instead, we rely on clear job descriptions and regular feedback from managers to guide the performance of our staff. The group salary structure is communicated and explained to all employees, who appreciate the transparency and the opportunity to pursue a long-term career with the institution. Our staff naturally expect a fair salary, but they also enjoy working in an environment in which they feel they can make a difference and in which they are respected and can develop both professionally and personally. A manager at this level who is simply focused on what he or she could earn “in the market” is not a good fit. At ProCredit, the gap between the lowest and highest salary grades is narrower than usual, the salaries earned by managers are relatively close to those of the other staff, and are also dependent – among other factors – on the successful completion of certain training programmes. All senior managers also have the opportunity to participate in the ownership of ProCredit Holding by purchasing shares via ProCredit Staff Invest.