Pfizer 2014 Annual Report Download - page 30

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PFIZER ANNUAL REVIEW 2014 www.pzer.com/annual 30
ANNUAL REVIEW 2014
OUR COLLEAGUES
“DARE TO TRY” EMBRACED BY
COLLEAGUES WORLDWIDE
Pzer’s Dare to Try initiative gives colleagues a clear methodology
to develop new ideas, take thoughtful risk through experimentation,
and ignite change. As an example of the program’s scope and impact,
Global Innovative Pharma colleagues have initiated more than
70 Dare to Try experiments worldwide to try to bring new solutions to
some of our biggest business challenges.
“Dare to Try” workshop video with several colleague
perspectives
PERFORMANCE MATTERS:
INSTILLING SENSE OF
OWNERSHIP THROUGH
PERFORMANCE MANAGEMENT
LEADERSHIP MATTERS:
DEVELOPING LEADERS
WITH GLOBAL OUTLOOK
We completely overhauled our performance management and bonus
processes in 2014. In the old process, the totality of a colleague’s
performance for the year was expressed as a single label, e.g.,
Meets Expectations, Exceeds Expectations. To connect rewards
with business success and further drive our ownership culture, we
replaced labels with an emphasis on frequent, robust feedback and
direction on how to align compensation with actual performance. In
2015, we are extending our Global Performance Plan to all salaried,
non-overtime-eligible colleagues in the U.S. and Puerto Rico.
In 2014, Pzer launched a rigorous leadership development program
called Chairman’s Challenge. The year-long program exposed twelve
senior leaders to a variety of developmental activities, including action
learning immersion projects with an NGO partner in an emerging
market. These senior leaders were actively supported by our CEO
and his leadership team.
Our Business > Our Colleagues