Last updated: May 15, 2025
The objective behind our remuneration policy is to reward employees for the desired knowledge, experience, skills, behavior and performance according to a structured internal system and in accordance with the market. Preventing any customer detriment by inappropriate conduct is also an important objective of the remuneration policy. Through its remuneration policy, Likewize ensures that employees always put the customer's interests first.
The Likewize remuneration policy applies to all Likewize employees, including freelancers and temporary workers. Our remuneration policy is part of the Likewize Group's global remuneration policy, of which Likewize Insurance Services B.V. is a part.
All employees have a job description, in which tasks, responsibilities, authorities and knowledge requirements are laid down. An appropriate remuneration level has been determined on the basis of the job descriptions.
At the beginning of the year, the business objectives are translated into team objectives and discussed with the employees. If necessary, the direct supervisor translates the team objectives into individual objectives. The objectives are drawn up according to the SMART principle and are financially focused for a maximum of 50%.
At the end of the year, the extent to which the goals have been achieved is evaluated, resulting in a rating category. When determining this assessment grade, the extent to which the employee has complied with the Likewize Code of Conduct, has successfully completed all required compliance training and has met other conduct related objectives, is taken into account.
All Likewize employees are, next to salaries and fringe benefits, eligible to variable pay / remuneration.
LIS has a salary structure that consists of 14 levels (from 1 (lowest) to 14). Each of these levels has a minimum and maximum salary with a target zone within them. These amounts are based on market data. Salaries are assessed annually, both internally and externally.
The salaries are evaluated annually on 1 April. Progression in the salary scale depends on the outcome of the assessment and on the wage margin made available.
Variable pay (Bonus) Employees may be eligible for a bonus. The bonus will be awarded in the event of a particularly good individual performance in a manner that is objectively observable and determined . The bonus is incidental in nature and the amount is partly related to the monthly salary level and the overall financial results of Likewize Group.
The aim of the bonus policy is to encourage compliance with the targets set for the employee. In particular, these objectives are long-term objectives, to prevent employees from being focused on short-term results.
The Likewize remuneration policy is periodically evaluated for effectiveness and amended where necessary to prevent undesirable developments. This evaluation is part of the evaluation of the global remuneration policy of the Likewize Group of which LIS is a part. The management of Likewize is responsible for the drafting, application and evaluation of this policy.