Rewarding excellent performance
To achieve our financial targets, all Caverion employees have to know how they can contribute to Caverion success and what is expected from them. In order to ensure our strategy execution our objective is to conduct a performance development discussion with all our employees twice a year, either individually or at a team level. In addition continuous feedback as well as performance development discussions including agreement of targets and results review are an integral part of our management system.
Performance development discussion at Caverion includes validation of the employee’s current job, review and feedback of the targets set for the previous period as well as target setting discussion for the next period. Targets are set for one year ahead, so thatthey comply with the Group’s annual planning and budgeting cycle. Performance and results are then evaluated in the end of the year. Performance-based incentives are typically paid once a year, provided that the targets are achieved. Halfway through the year we perform a mid-year discussion when both short- and long-term individual development actions are planned and followed-up.
Short-term incentive schemes
The basis of remuneration at Caverion is a fixed base salary that is based on job responsibilities, in addition to which Group’s management and most of the salaried employees are included in a performance based short-term incentive plans. In addition to the common annual short-term incentive plan, during 2016 the common project and service incentive plans were implemented to cover more employees than earlier and the implementation will continue in the coming years.
Recognition for excellent strategy execution
In 2016, Caverion continued the Golden Helmet tradition. This year, four Golden Helmet Awards were given to two teams and two individuals who had promoted and done extraordinarily excellent work in strategy execution
. The categories consisted of Strong company image, Excellent leadership, Operational excellence and Innovative and advanced solutions.
The activity among employees for nominating candidates was on a high level and resulted a total of 214 nominations. The winners of 2016 were one international team, one Finnish team, one from Denmark-Norway division and one from Sweden.