Belønning i GE. November 2009

Transcription

1 Belønning i GE November 2009

2 A company with global reach Operations in over 100 countries Manufacturing facilities in 32 countries employees, approx 2000 in Norway $183 billion in revenues in 2008 $ 18 billion net income in % organic growth WORLD 45% USA 55 % GE revenues US/World 2

3 GE Culture Performance Ticket to the dance Compliance and governance Non-negotiable 3

4 Growth Values headline phrases external focus Defines success through the customer s eyes In tune with industry dynamics sees around corners clear thinker Seeks simple solutions to complex problems decisive Focus communicates clear + consistent priorities imagination Generates new and creative ideas open to change Resourceful displays courage & tenacity inclusiveness Teamwork respects other s ideas + contributions Creates excitement and drives engagement expertise Domain depth credibility built from experience Continuously develops self loves learning Always With Unyielding Integrity 4

5 Reward Framework - attracting, engaging, motivating & retaining talent Reward Principles Supports strategy rewards performance, behaviours & values Performance driven/differentiated Competitive, market specific Optimising value & affordability Owned by line managers flexibility within digitized processes Open & fair communicating total value C&B Toolkit Base Salary Cash Incentives Stock Plans Benefits Recognition Other Reward Tools Culture/ environment Leadership Learning opportunities Career opportunities The value of a GE role Compliant e x t e r n a l b e n c h m a r k i n g 5

6 Annual Performance Assessment 6

7 Employee Management System (EMS) and Session C Goal Setting Ongoing Monitoring Annual Review (EMS) Session C Review Goals Coaching Feedback Performance Review Development Needs Career Discussion Personal Personal Development Development Plans Plans Salary Planning Incentive Planning Stock Options Career Development Programs 7

8 Performance Session C 9-block overall rating Exceeds Expectations Dev. Needed Excellent Role Model Consistently Meets Expectations Dev. Needed Strong Contributor Excellent Development Needed Unsatisfactory Development Needed Development Needed Development Needed Consistently Meets Expectations Exceeds Expectations Values 8

9 How Individual Base Salaries are Determined NB. This may vary where collective agreements apply INPUTS Applying SKILLS Using KNOWLEDGE Leveraging EXPERIENCE OUTPUTS GROWTH, SIMPLIFICATION & QUALITY Achievement of GOALS & OBJECTIVES CUSTOMERS satisfied LEARNING understood, used, shared DATA What that MARKET pays What PEERS earn Available BUDGET WHAT was delivered The necessary inputs generating the required outputs THE RIGHT PAY The right INFORMATION Balancing external and internal fairness with affordability HOW was it delivered The right values and behaviours creating a unique personal contribution VALUES & GROWTH TRAITS External Focus Expertise Imagination Inclusiveness Clear thinking 9

10 Lokale Erfaringer.. Lønnsdiffrensiering basert på en grundig og transparent prosess - tydeligjøring Involverer både medarbeidere og ledere En omfattende EMS/Session C prosess medfører et klart fokus på medarbeiderutvikling Tidkrevende for ledere og ansatte, - oppfattes ikke alltid å gi verdi i forhold til kompetanse og karriereutvikling Opplevelse av urettferdighet og/eller stigmatiserende Krav til differensiering som kan oppfattes å gi tilfeldige utslag 10

11 Recognition in GE 11

12 Healthcare Heroes Online Portal Employees visit the portal home page to redeem an award or nominate 12

13 Reward by learning & career opportunities 1 billion USD spent on training every year Wide range of high quality programs on all levels High class facilities, - an important part of the experience Effective use of training as a tool for business development 13

14 GE What Is the Formula for a Successful GE Career? V TR + O x N T L V 10 + GV = CS YD Values + Track Record Opportunities x Network Luck Timing Variables: Dual Career Geography Family Travel... + Growth Values = Career Success Your Definition It Isn t Exactly Six Sigma... 14

15 myorg Tool 15