Nokia 2003 Annual Report Download - page 44

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Hands, also grew, and is now underway in more than 25 countries. We also signed a 3-year frame
agreement for cooperation with WWF (World Wide Fund for Nature).
We believe that translating stakeholder expectations into business value is a key to future success.
In addition to expanding existing internal and external communication channels, in 2003 we
piloted e-RADAR, an electronic tool for gathering and analyzing employee opinions on a wide
range of corporate responsibility subjects. Another new initiative was the creation of a dedicated
tool on our web site to take into account the concepts and guidelines set forth by GRI (Global
Reporting Initiative).
Nokia is actively participating in a number of international initiatives, such as the United Nations’
Global Compact and ICT Task Force, International Youth Foundation, World Business Council for
Sustainable Development and WWF. As a result of our performance in economic, environmental
and social issues, and increased transparency in reporting, Nokia was again included in Socially
Responsible Investment (SRI) benchmarks, such as the Dow Jones Sustainability Indexes and the
FTSE4Good. In 2003, Nokia was ranked number one in the Global Communications Technology and
European Technology market industry sectors within the Dow Jones Sustainability Index.
For more information on our corporate governance principles, please see ‘‘Item 6.C Board
Practices.’’
Employee Development—The ‘‘Nokia Way’’
Fundamental to our success is the ‘‘Nokia Way’’ for all personnel. The Nokia Way is a philosophy
of attracting and retaining the best people and maintaining continuous renewal. We strive to
instill in each employee a set of four core values: customer satisfaction, respect, achievement, and
renewal. We believe these are critical in order for a global organization such as Nokia to work
together effectively.
Nokia’s employee-value proposition framework remains strong. The four fundamentals of the
proposition, together with the elements encompassed by each of them, are as follows:
•
Nokia Way and Values:
fact-based management/value-based leadership, code of conduct,
equal opportunities, diversity, internal communications and feedback channels.
•
Performance-based rewarding:
base pay and benefits, equity-based instruments, Nokia
connecting people bonus and incentive payments.
•
Professional and personal growth:
career development, job rotation, training and
performance management.
•
Work life balance:
health & safety, flexible working hours, telecommuting opportunities
and leave.
43