Beyond Traditional Appraisals: Novartis’ Progressive Performance Management System

Beyond Traditional Appraisals: Novartis' Progressive Performance Management System

At Novartis, we believe in unleashing Power of people; to be Inspired, Curious and Unbossed so that our associates are bold, constantly learn new skills and respond quickly together to meet some of the world’s greatest challenges head on, living the purpose “to reimagine medicine to improve and extend people’s lives”

With this ethos, in 2021, Novartis departed from conventional performance appraisal methodology that recognizes individual efforts through numeric evaluation and launched new performance management approach “Evolve” that emphasizes team collaboration, feedback as a vehicle for growth, and driving the greatest impact for our business priorities.

Evolve engages a new way of working; an approach to objectives that embraces a continuous rhythm and collaboration to accelerate collective performance. This approach to performance management system empowers associates to co-create team’s big bold objectives and take full ownership of team’s and own objectives and driving impact through team retros, meaningful and frequent check-ins, and timely recognition to reward people for delivering impact on patients and teams.

Evolve recognizes the way employees attain results by embodying the core values and behaviors (Inspire, Curious, Unboss, Integrity) of Novartis. By emphasizing open communication and fostering a collaborative atmosphere, performance management at Novartis Bangladesh ensures that individuals remain focused on what is truly beneficial for their colleagues and patients alike.

Bayer Bangladesh introducing four-wheelers for all as an enabler

Bayer Bangladesh, as a progressive organization, takes immense pride in fostering an exceptional work environment that champions Diversity and Inclusion as fundamental principles of our operation. In our solid commitment to these values, we've set an industry benchmark by providing Four Wheelers as essential tools for all our sales team members. This initiative not only encourages and empowers our female colleagues to take on challenging field roles but also cultivates a high-performance work atmosphere.

We recognize that commuting to work can be challenging, especially for our sales team members who frequently travel to distant locations to enhance business efficiency. To address this, we've undertaken a special initiative to furnish our sales team with reliable and relatively safe transportation options, enhancing their ability to conduct business with greater ease, comfort, and convenience. In doing so, Bayer has demonstrated its dedication, even at the expense of additional costs. Our company vehicles are equipped with safety features such as emergency response systems, GPS tracking, and secure lock systems, ensuring the utmost safety and security for our employees during their business travels. Moreover, our appointed drivers undergo comprehensive diligence checks to guarantee the highest level of safety and security for our employees.

By providing company cars to our sales team members, we not only empower them to achieve their personal and professional aspirations but also enhance the overall efficiency and effectiveness of our business operations. Our commitment to promoting Diversity and Inclusion extends throughout every facet of our business, serving as a guiding example for others to emulate.

Bayer Bangladesh wholeheartedly embraces the responsibility of advancing Diversity and Inclusion in the workplace, empowering all employees to harness their unique talents and unlock their full potential. The introduction of Four Wheelers as essential tools for our sales team members underscores our organization's enduring dedication to fulfilling this commitment.

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Bayer Samavesh Program: Empowering female talents wings to fly

As a responsible business organization, Bayer Bangladesh (Bayer CropScience Limited) is upholding an inspiring and unique space for the young female Agri graduates to build their career in the industry through Bayer’s Samavesh Program.

'Samavesh' is a 12-week flagship initiative jointly sponsored by Bayer and esteemed business schools from India. Its primary objective is to identify, nurture, and empower talented young women with academic backgrounds in agriculture, equipping them with the professional skills necessary for a successful career in the industry. This program serves as a vital platform for skill enhancement, career development, and strategic planning.

This 12-week course is meticulously designed keeping in consideration the ever-growing demands and challenges of both public and private sectors in agriculture industry. Samavesh participants gain access to a high-quality training resource that combines in-house instruction with valuable field visits, enhancing their marketing skills and strategic acumen.

The selection process for Samavesh is rigorous, involving an online aptitude test, and interviews to carefully choose candidates. Bayer then provides comprehensive training, grooming, and skill development, encompassing both soft and hard skills.

What sets the Samavesh Program apart is its robust three-tier support system. Participants benefit from the mentorship of a reporting manager, a territory business manager, and a female buddy who create a supportive and nurturing environment for their growth. To ensure their well-being, the company also provides health insurance coverage for the Samavesh trainees.

The term 'Samavesh' translates to 'Inclusion' with a specific goal, reflecting our commitment to fostering inclusivity and empowerment. We take pride in the successful execution of two previous Samavesh programs, which have played a pivotal role in advancing women's empowerment and fostering gender equity. As we speak, the third cohort is already in progress, continuing our mission. We have full confidence that the ongoing Samavesh Program will continue to reinforce Bayer Bangladesh's dedication to laying a solid foundation for the advancement of the female workforce. Together, we march forward towards a brighter future!

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MetLife's Innovation in financial products to enhance people’s resilience

MetLife Foundation and MSC (MicroSave Consulting) along with its partner UNCDF hosted the i3 (innovate, implement, impact) global learning event on “Innovation in financial products to enhance people’s resilience” in Dhaka, Bangladesh on 17th May 2023.

The learning event also explored practical lessons around financial resilience and security in four markets: Malaysia, China, Vietnam, and Bangladesh. The event intended to help steer a shift in approach from financial inclusion to financial health with a focus on innovative products among practitioners, providers, donors, and regulators.

The event offered participants representing regulators, government officials, practitioners, and think tanks key insights, and some of the major outcomes of the event are: the i3 program’s impact in increasing awareness and helping improve financial health; lessons from the ecosystem to innovate, evolve, and build the financial resilience of LMI segments; and identification of critical areas that need more focus now beyond access, which will be the next focus for the industry, such as digital credit, insurance, transformation, protection, and privacy. Through i3 program partners such as aspire to innovate (a2i), Shakti Foundation, Women & e-Commerce Ltd, and leading MFS providers among others, the program could make an impact over 12.8 million clients in Bangladesh itself and over 43 million low-income individuals indirectly.

More than 80 industry experts attended this international event with participants from Malaysia and Vietnam.

The panel deliberated what innovations are required in the financial sector to enhance people’s financial health and what are the biggest lessons from the pandemic, and how do we build for a more resilient future.

The dialogue surrounding financial inclusion has intensified over the last decade. With the focus now on financial health, key stakeholders have started to explore how best to engage prospective customers in ways that meet the needs of both customer service providers and the industry itself.

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MetLife announces 2030 DEI commitments: MetLife and MetLife Foundation commit more than $2.5 billion to deepen impact across workforce and society

MetLife announced a broad set of 2030 diversity, equity and inclusion (DEI) commitments designed to address the needs of the underserved and underrepresented through a mix of investments, products and services, supply chain, volunteering, and community efforts.

The extensive package of DEI commitments augments the global insurer’s robust sustainability efforts, which are anchored to its business strategy and informed by the United Nations Sustainable Development Goals.

MetLife has pledged to deliver on the following commitments by 2030:

1. Originate $1 billion in investments that advance firms owned by women, minorities, and disabled persons. MetLife made a down payment on this commitment with nearly $100 million deployed in 2021.

2. Reach $5 billion in spend with diverse suppliers – an increase of $1.6 billion from the amount MetLife’s Supplier Inclusion and Development Program has committed to date. MetLife will also annually report the economic impact of this spend.

3. MetLife Foundation has committed $150 million in funding to support underserved and underrepresented communities.

4. Commit 800,000 employee volunteer hours with a focus on DEI/underserved communities.

5. Provide solutions and insights to address the needs of the underserved. For example, MetLife will build partnerships with experts to provide educational content in Upwise™ – the company’s new digital financial wellness app – to tackle the financial challenges disproportionately impacting diverse communities.

6. Support research that advances understanding of DEI issues. For example, MetLife will share insights from the company’s annual Employee Benefit Trends Study and other research initiatives to help employers as they support their increasingly diverse workforces.

7. Continue to advance workforce diversity by consistently achieving top quartile positioning across each ethnically and racially diverse category in the U.S. and of female officers globally. Enhance transparency of the link between top quartile positioning and executive leadership performance. The financial components of these commitments total more than $2.5 billion by 2030.

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