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PRYSMIAN GROUP | DIRECTORS’ REPORT
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The objectives of P3 are to:
align personal objectives with those of the Group, thereby motivating each employee to do their best
and generate value for the entire organisation, and create a single business identity;
facilitate communications between managers and staff, so that the results achieved can be shared;
reward the most deserving resources based on objective appraisals.
The process, backed by an online platform, involves 5 main steps:
performance definition: determine targets and expected behaviours;
constant feedback: consolidated and lasting relations between managers and staff;
overall assessment: appraisal of the quantitative and qualitative results achieved;
calibration: sharing and comparison of the assessments made by management at various levels
(Country/Region, Business Unit, Group);
feedback: provision of feedback to staff.
Partly thanks to a survey to which the some 3,000 responses showed wide appreciation of the process and
the tool, a number of improvements were made in 2015 to ensure ever more meritocracy and employee
engagement:
alignment between performance process and career programs;
connection with reward policies;
possibility for employees to propose their own target objectives, agreeing these with their superiors,
and to redefine them in the course of the year if the job or external market conditions should change;
preparation of an action plan aimed at improving performance;
Talent and Succession Management
As a result of these different experiences in the field of assessment and measurement of talent, and not least
as advocated by Italy's Corporate Governance Code (art. 5) in matters of succession, the Group decided in
2015 to rationalise its activities regarding assessment of potential and to adopt an overall process of
evaluating potential and drafting of succession plans. This initiative covers all those involved in the P3
process and aims to create talent pools and succession maps for all critical positions, not only at the Group's
top management level but also at individual country and plant level. The new process, which will be called
P4 (Prysmian People Performance Potential system), is being developed with MERCER, a human resource
consulting firm. Its basic purpose is to provide an assessment of potential, by predicting future performance
in positions of greater responsibility. The first step has been to work on defining what talent means for
Prysmian, through a series of structured interviews with 35 of the Group's key managers. The process, due
to be launched in March 2016, will have three stages and involve approximately 1,000 employees:
individual assessment of potential by managers
consolidation of talent pools at Group level
development of succession plans