ibidi Awarded With the German bAV Prize 2023

29-Apr-2023

The Gräfelfing-based biotech company ibidi GmbH received the German bAV Award in Berlin this week. With the 3rd place in the category SME, the insurance and finance industry honored ibidi’s innovative concept of company pension plans. The jury was particularly impressed by its innovation and flexibility–a result developed in a way designed to meet the needs of internationally sought-after employees. In the 10th year of its award, the German bAV Prize thus honored for the first time a pension package for the dynamics of Start-up industries.

"For us as a company with all value-creation elements at the location, it was crucial to meet our diverse employee interests. The bAV should be fair, flexible, and reliable. This has now been awarded: “What a confirmation!", said Iris Hauerwaas, the initiating HR manager. She had taken seriously the fact that the bAV is now considered by academics to be the third most important tool for staff retention in SMEs and had therefore launched an internal campaign. Skilled workers are in high demand, especially in the high-tech market. That is why the bAV "Future in Focus" has recently rounded off ibidi's strong benefits portfolio for retaining and attracting new employees.

The award-winning concept is a creative multi-level model with a high employer contribution. This is more likely to be found in the large corporate sector. The scale is based on length of service. Even after the probationary period, a Starter Kit with a one-time contribution of €500 motivates the employee to start an individual pension plan. In the first 5 years ibidi contributes 50% to the bAV, from the 5th to the 10th year 75% and from the 10th year the company contributes 100%! The minimum contribution of 50€ elegantly replaces the low-income mode. Employees choose their investment form individually from 3 risk types: "Security" for conventional coverage, "Growth" for the managed investment or "Opportunity" for the pension fund offering individual fund selection and partial guarantee. A third freedom of choice is then offered by the drawdown at the age of 62 to 85: as an annuity, as partial capitalization, or as a complete drawdown.

In retrospect, the chosen development approach proved to be an asset of the concept. A convincing overall package for the start-up scene was missing on the market. Therefore, the founder-led company felt compelled to create what it was looking for itself. It eventually found a solid financial services provider that embraced a practical path involving management, HR leadership, and employees. "As a company, that is actively helping to extend life expectancy and quality, we are particularly concerned about quality of life and quality of work at ibidi. We provide cell analysis tools to research laboratories worldwide. That's why we wanted to offer our strong team more than just elementary items for life's contingencies. It should be possible to experience old age in a financially independent way," summarized Dr. Valentin Kahl, Managing Director of ibidi. The cooperative way of finding a solution resulted in an unusual way in a now award-winning bAV. In addition, it had a highly motivating effect on the team. Appreciation and employee care can also be transferred to other high-tech start-ups or companies in the start-up environment using this method.

https://www.bionity.com/en/news/1182717/ibidi-awarded-with-the-german-bav-prize-2023.html