(14) Personnel expenses/Number of employees
| All figures in €’000 | 2008 | 2007 |
|---|---|---|
| Salaries and wages | 94,745 | 89,177 |
| Social security contributions | 12,250 | 11,819 |
| Expenses for old-age pensions and benefits | 3,631 | 3,940 |
| Total | 110,626 | 104,936 |
Personnel expenses essentially include salaries and wages, remuneration and other payments to employees.
The social security contributions include the statutory contributions to be borne by the company in the form of social security insurance premiums.
Expenses for old-age pensions and benefits mostly include employer’s shares of supplementary occupational provision.
The rise in personnel expenses is mainly attributable to the inclusion of the TPC-Group for the first time, general salary increases and an increase in personnel in the area of wealth management.
Compensation of € 461 thsd (previous year: € 4,042 thsd) was granted for the termination of employment contracts.
Number of employees:
The average number of staff employed increased from 1,902 in 2007 to 2,060 in 2008.
| 2008 | 2007 | |||
|---|---|---|---|---|
| of which marginal part-time employees |
of which marginal part-time employees |
|||
| Financial services | 1,792 | 474 | 1,647 | 446 |
| Feri | 257 | 60 | 246 | 90 |
| Holding | 11 | 1 | 9 | 0 |
| Total | 2,060 | 535 | 1,902 | 536 |
Due to the concentration of the business activities in Germany, employee statistics are no longer broken down by location (Germany or abroad), but rather by operating segment as of 2008. Employees in the discontinued operations are included in the calculation pro rata temporis up to the date of deconsolidation.
The average number of employees in the continuing operations increased by 167 from 1,819 to 1,986. This was mainly due to the inclusion of employees from the TPC-Group for the first time and the increase in personnel in the area of wealth management. An average of 120 people (previous year: 110) were trained in the financial year.