Siemens

The overview

Siemens is an international engineering firm with an interest in many different business areas, including transport, medicine, IT, telecommunications, finance and water, and the energy industry. Based in Germany, where it was founded in 1847, its primary focus is the application of electric and electronic engineering.

Siemens’ principal strength is the sheer size and diversity of its portfolio.

The company currently has 405,000 employees worldwide, including 16,000 in the UK, and operates in 190 countries worldwide. It had an annual turnover of €73,515 million in 2011.

Projects the company has been involved in recently include:

• Supplying the new rolling stock for the upgraded ThamesLink Service
• Collaboration with Community Windpower to provide community-based windfarms
• Development of new ground-breaking body scanners for medical diagnoses

Organisational structure

At the start of October 2011, Siemens reorganised its operations into four core business units, each serving a particular market:

Energy - focused on products which help improve efficiency in energy production and distribution, including oil, gas and renewables.

Healthcare - supplying technology such as medical imaging equipment and healthcare IT.

Industry - providing software and technology services to a range of different industrial clients.

Infrastructure and cities - the newest of the business units, this is focused on sustainable technologies like smart grid equipment and rail vehicles.

Key strengths and opportunities

The principal strength of this organisation is the sheer size and diversity of its portfolio. With so many activities based in so many countries, and so many customers from both the private and public sectors, it should be able to ride out any cyclic downturn in any particular country or market.

In terms of future plans, Siemens has identified three strategic areas on which it hopes to build:

1. Getting closer to its customers (physically)
2. Focusing on innovation-driven growth markets such as the BRIC countries (Brazil, Russia, India and China)
3. Using ‘the power of Siemens’; ie working to develop and empower its employees

The company will also continue to increase its investment in research and development, having upped its spend by €500m to around €4b in the 2011 financial year.

Focus on renewable energy

Continued expansion in the renewable energy sector is also providing new opportunities for Siemens. Wind power is a particular area of focus; the company recently announced plans to open a new wind turbine factory in the UK in 2014, potentially creating some 700 new jobs. Tidal power may also open new doors, and the February 2012 acquisition of tidal power systems maker Marine Current Turbines will help boost Siemens' operations in this area.

Awards and recognition

• Ranked 42 in the FT Global 500 listing of the largest companies on earth by market value
• Included on the 2011 UK Business Superbrands list, the highest-ranking industrial engineering brand
• Ranked 9 in Universum’s 2011 list of the top 50 most attractive engineering employers globally

Salary and benefits

The starting salary for the 2011-12 intake will be £23,000–£28,000, depending on scheme and location.

Other perks

Siemens allows employees to personalise the benefits they receive; they can identify the benefits they don’t want to receive and opt out of them, which results in an increase in wages. The list of benefits employees can choose from depends on the division they work in, but would typically include:

• Employer-contributed pension
• Childcare vouchers
• Holiday buy/sell scheme
• Private healthcare plan (BUPA)
• Dental cover
• Travel insurance
• Life assurance
• Critical illness cover
• Retail vouchers