UPM employees get €61m incentives in 2019

The Finnish forest industry company UPM paid a total of EUR 61 million as short-term incentives to employees in 2019, said a press release.

The incentives were paid for the good 2018 results. The figures are outlined in UPM's Annual Report that was published on Friday.

Over the last five years, the sum has been EUR 61 million per year on average.

UPM's incentive schemes brought on average an additional 6.6% of annual income globally to personnel in the 46 countries of operations.

At the end of 2019, UPM had 18,742 employees. The incentives are determined by the financial indicators, of which EBITDA is the most important and at least one-third of the incentive is determined by the achievement of personal and/or team performance targets.

The group-wide incentive scheme ensures that the employees receive their share of good results. UPM's Board of Directors decides on the incentive scheme annually. The bonus system is voluntary and a way to encourage personnel for high performance.

For more than 10 years, all UPM employees in all professional groups and all organisations have belonged to a unified annual Short-Term Incentive (STI) scheme, which is evaluated annually.