2010 Objective Setting & the New, Simplified Performance Management Process
Dear Pfizer Colleagues,
It’s that time of year again…time for you to start thinking about your performance objectives for 2010. As our business evolves on Our Path Forward: The Next Step and as we continue to create a culture of innovation and continuous improvement, we are simplifying the 2010 performance management process.
When considering 2010 objectives, keep in mind that they should be:
- Aligned with the overarching business goals - look at Our Path Forward: The Next Step and talk to your manager about the related strategies for the division, function or group
- SMART - Specific, Measurable, Actionable, Realistic and Time-Bound
- Clear and challenging - this is your chance to set clear expectations for the year and what you will be evaluated against at year-end; be sure to craft them well
Managers continue to be the primary partners in setting aligned business goals. Each of you has a role in moving the business forward, and we’re counting on you again in 2010!
What’s Changing for 2010?
Most of you use the Global Performance Management (GPM) system as the tool for setting performance objectives for the year and for the year-end performance review process. We recognize that this system was somewhat cumbersome and required a lot of time from both of you and your manager. As a result of simplifying our performance management process, you will also notice some changes to the GPM system. The new process will take effect February 15, 2010, and does not impact the 2009 year-end performance management and compensation process.
Key changes to the process for 2010 include:
- No requirement to weight individual performance objectives
- Mid-year Review and Rating
- Manager indicates whether performance is “on-track” or “off-track” to achieve year- end goals
- Feedback provided in the context of performance, ongoing development and career growth
- Overall section used to indicate year-end achievements (individual comments not required for each objective)
- Simplified rating scale using 7 performance categories—see below
- Manager determines overall performance category assigned (no numerical ratings)
Performance Categories*
Significantly Deficient Results / Deficient Results / Partially Met / Consistently Met / Exceeded / Significantly Exceeded / Exceptional Results
*Descriptions for performance categories remain the same
Click here to view a detailed outline of the improvements that impact objective setting, mid-years, and year-end reviews.
In some countries the changes outlined in the table are subject to local legal, union or works-council consultation requirements and therefore, implementation of the simplified performance management process will not move forward pending successful consultation.
What’s Next?
These changes to the GPM system will be effective February 2010 for all countries which have successfully finalized the consultation or other legal requirements. Because the GPM system will not be available until February 2010, it will not be available for 2010 objective setting and you should set your objectives in the off-line Word template, taking into account the new guidelines described above. We encourage each of you tovisit the performance management resource page to access the offline template and tips for setting SMART objectives.
When the refreshed system goes live in February, GPM users will receive a prompt allowing them to access the GPM system via hrSource, do a simple copy/paste and complete the colleague/manager approval process, just as you have always been able to do.
In the coming months we will work to refresh online training materials, tip-sheets and FAQs and will continue to communicate with you about the progress we are making. If you have any questions about the performance management process or GPM system, please speak to the local HR Manager & Operational Support contact in your region.
We hope you are as excited as we are about these changes. Stay tuned as we work to simplify Performance Management...
Sincerely,
Jo EisenhartSenior Vice President , Manager & Operational Support
Pfizer Worldwide Human Resources / Roxanne Lagano
Senior Vice President, Compensation & Benefits
Pfizer Worldwide Human Resources