You can make a difference
Dear colleagues,
We’re at the start of our first entire calendar year as an independent company. As promised, we are sharing with you the 2016 update on the new PMP process.
As a stand-alone company Covestro needs to achieve a significant and lasting performance that puts us ahead of our competition. You may already wonder how we will further shape our company and make our C³ values a reality, how we will work together across different organizations and geographies, and how you and your team will contribute to sustainable business success for Covestro. The key to an optimal set-up and a high performance working culture is to coordinate and integrate efforts across the globe by setting clear values, expectations and processes in place.
It’s time to think about all this and to discuss with your manager how to translate the difference you and your team can make for Covestro into some challenging objectives. It’s time to reflect on how you can further develop yourself this year to be even better equipped for making a difference. Listening to feedback from the business, we have decided to change our performance management so that it will now be based on our new values.
With the introduction of the Covestro Profit Sharing Plan, which is now decoupled from performance management, we are establishing extended goals for all employees, without worrying about a possible negative financial impact. There will still be possibilities for honoring employees for their excellent performance such as one-time bonuses. This means that our new performance management will not be connected to monetary benefits but to development and personal progress opportunities achieved through qualitative and regular discussions between you and your manager. It will be less complex, less formal and less administrative.
Where does this lead us in 2016?
1. You and your manager are asked to focus on three to five ambitious goals. Make them ‘SMART’ (Specific, Measurable, Aligned, Realistic and Time-bound) to avoid any misunderstanding.
2. Discuss with your manager what you need as training and development to make a difference for Covestro. Our well-established Development Dialogue will remain part of the overall concept.
3. Document what you agreed on with your manager for proper follow-up. This can happen in any format. As a support, your manager has received a template.
4. Take any opportunity to get feedback from your manager but also to provide your manager feedback. If you don’t feel fully comfortable with providing qualitative feedback, great feedback training is available.
5. Please ensure you sign your notes and consult your manager in case of questions or concerns.
Less can be more! We have made this bold move because we believe that this will give you and your manager flexibility and opportunity to discuss and agree how you and your team can make a difference for Covestro. We strongly believe that we can only realize Covestro’s ambition to become an even stronger and leading chemical company if we, collectively, bring a sustainably strong performance culture to life. Because we are Covestro.
All statements need to be in line with local laws. In case this changes any of the above mentioned content, affected employees will be informed.
Enjoy a safe, exciting, successful and healthy 2016!
Christa Luetzenkirchen
Head of Human Resources
You can make a difference Dear colleagues, We’re at the start of our first entire calendar year as an independent company. As promised, we are sharing with you the 2016 update on the new PMP process. As a stand-alone company Covestro needs to achieve a significant and lasting performance that puts us ahead of our competition. You may already wonder how we will further shape our company and make our C³ values a reality, how we will work together across different organizations and geographies, and how you and your team will contribute to sustainable business success for Covestro. The key to an optimal set-up and a high performance working culture is to coordinate and integrate efforts across the globe by setting clear values, expectations and processes in place. It’s time to think about all this and to discuss with your manager how to translate the difference you and your team can make for Covestro into some challenging objectives. It’s time to reflect on how you can further develop yourself this year to be even better equipped for making a difference. Listening to feedback from the business, we have decided to change our performance management so that it will now be based on our new values. With the introduction of the Covestro Profit Sharing Plan, which is now decoupled from performance management, we are establishing extended goals for all employees, without worrying about a possible negative financial impact. There will still be possibilities for honoring employees for their excellent performance such as one-time bonuses. This means that our new performance management will not be connected to monetary benefits but to development and personal progress opportunities achieved through qualitative and regular discussions between you and your manager. It will be less complex, less formal and less administrative. Where does this lead us in 2016? 1. You and your manager are asked to focus on three to five ambitious goals. Make them ‘SMART’ (Specific, Measurable, Aligned, Realistic and Time-bound) to avoid any misunderstanding. 2. Discuss with your manager what you need as training and development to make a difference for Covestro. Our well-established Development Dialogue will remain part of the overall concept. 3. Document what you agreed on with your manager for proper follow-up. This can happen in any format. As a support, your manager has received a template. 4. Take any opportunity to get feedback from your manager but also to provide your manager feedback. If you don’t feel fully comfortable with providing qualitative feedback, great feedback training is available. 5. Please ensure you sign your notes and consult your manager in case of questions or concerns. Less can be more! We have made this bold move because we believe that this will give you and your manager flexibility and opportunity to discuss and agree how you and your team can make a difference for Covestro. We strongly believe that we can only realize Covestro’s ambition to become an even stronger and leading chemical company if we, collectively, bring a sustainably strong performance culture to life. Because we are Covestro. All statements need to be in line with local laws. In case this changes any of the above mentioned content, affected employees will be informed. Enjoy a safe, exciting, successful and healthy 2016! Christa Luetzenkirchen Head of Human Resources
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