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Business
Staff Ideas Save Money For BASF
by Jean-François Tremblay
April 7, 2014
| A version of this story appeared in
Volume 92, Issue 14
BASF says the implementation of 23,000 ideas from its staff worldwide in 2013 yielded savings totaling $70 million. The employees who came up with successful ideas received bonuses worth $6.5 million. Employees at company headquarters in Ludwigshafen, Germany, were most productive with money-saving plans: They saved the firm $43 million through 7,000 implemented ideas. BASF employs a global director of idea management, Lothar Franz, who monitors staff suggestions. Employees made 42,000 cost-saving proposals last year, Franz says.
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