UBS relies on the expertise and commitment of its employees
to deliver the solutions and the quality of service demanded
by its clients. “Human capital return on investment” is used
by UBS as an indicator of the increase in skill and productivity
of its workforce, in combination with financial performance.
In 2007, UBS’s human capital return on investment
showed a
decrease for the year. Following
a steady increase from 2002 until the first half of
2007, its return on investment declined in the second half of
2007. This decrease is principally the result of a continued
investment in the bank’s workforce despite the quick and
steep deterioration in market conditions in the second half of
2007. This investment, however, should prove to be central
to UBS’s ability to grow when market conditions stabilize.
The firm invests in developing and motivating its employees,
whether they are new hires, seasoned employees, key talent or
senior managers.
The following pages highlight the most important
factors driving the value created by UBS personnel.