people strategy book

7/30/2019 People Strategy Book

1/28


2/28

Welcome to Our People Strategy

The Bausch + Lomb People Strategy2


3/28

The Bausch + Lomb People Strategy 3


4/28

Transforming our company

through our peopleOur transormation has three integrated elements: People, Products,and Processes. And its our people who create the products and

drive the processes at the center o the Bausch + Lombcustomer experience.

When our people perorm at their peak, we produce the highest-quality

products and engage with our customers in more meaningul,lasting ways. We help people see better to live better.

When our people perorm at their peak, it isnt by accident. Its theresult o sustained eorts on their part, together with an environment

that encourages high perormance and where excellence becomesa way o lie.


Introduction


5/28



6/28

Introduction

An actionable,measurable roadmapBausch + Lombs People Strategy is a critical component inThe Bausch + Lomb Way o driving high perormance. It is at

the center o how we will get where we are going as a company.

Our People Strategy is our companys roadmap or attracting,developing, and retaining our most valuable asset our people.

The strategy sets out specic, actionable steps that are in place, orin development, to support employees worldwide in becoming the

best at what they do. It describes the expectations we have o our

people at Bausch + Lomb, and the ways in which ourhigh-perormance culture will help them succeed.



7/28

We have three objectives for our People Strategy:

1. To develop high-performing individuals and teams, the core assets o ahigh-perorming company;

2. To drive employee energy and engagement, particularly by creating aworkplace that is inspired and inspiring, diverse and dynamic, innovative

and ullling; and3. To align this energized and engaged workorce with our basic strategy

and other elements o The Bausch + Lomb Way to deliver business results.

To accomplish each o these objectives, we will continually measure thesuccess o our People Strategy, making adjustments and improvements asthey are needed along the way. The strategy is designed to grow and evolve

along with the needs o our company and our people.

Bausch + Lombs global Human Resources team works with seniormanagement to develop the ramework and drive the evolution o the

strategy. However, every colleague at every level owns it and playsa key role in its success.

We will continually measure progress against the People Strategys objectivesusing a variety o means, including Employee Willingness to Recommend

and a dashboard o key perormance indicators.



8/28

The people strategy and

its elementsOur People Strategy is organized around our elements.The rst is the way a colleague is chosen or his or her role atBausch + Lomb (Select).

The second is the tools that an individual is given to grow, suchas new skills and expanded opportunities (Develop).

The third element ocuses on the ways individuals are motivated

and engaged to perorm at the highest level possible (Energize).

The nal element denes how an individuals contributions toour company are recognized and rewarded (Value).



9/28

select energize

develop value

The Bausch + Lomb People Strategy



10/28

select


How we identify and

hire talentOur high-perormance culture particularly our Success Mandates and ourHigh-Perormance Behaviors relies on the strength o our people. As a

result, identiying, attracting, and acquiring the very best talent is central to the

success o our company. The way we seek out that talent is the rst element o

our People Strategy: Select.

Selecting the best people begins with discovering, developing, and promoting

talented people within our company. Only in those situations where we nd

that we do not have the necessary resources internally do we then seek out

top talent rom the outside.


11/28



12/28

select


Selecting talented peopleWe know rom experience that top, untapped talent alreadyexists within our company, and that giving our people the chanceto grow proessionally is one o the wisest business decisions

we can make. In act, providing opportunities or our people tomove up, or just as importantly, across unctions, business units or

regions, enhances employee perormance and improves business

results. At the same time, creating a culture in which talentedpeople are recognized and promoted internally improves ourability to attract the very best rom the outside.


13/28

Some of the actions we are taking in this area include:

Employing a global approach to hiring the best talent by maximizingour capabilities and building on our existing resources. This beginswith ensuring that we have a complete picture o the talent that already

exists within our company. It also means expecting that all new hiresmeet or exceed perormance expectations in the rst 12 months o

their employment with the company.

Implementing consistent global orientation or all employees, acrossgeographies and business units, to ensure alignment and understanding

o our companys history, businesses, customers, products, culture, andexpectations. We will supplement our global approach with necessary

local orientations.

Instituting functional competency models to help ensure that ourpeople have the knowledge and skills required to successully carryout their jobs. In many cases, we will establish these competency

models across business units and regions, so that we continue towork as one Bausch + Lomb, achieving excellence in a consistent

and eective manner.



14/28

develop


How we support and

promote our peopleAt Bausch + Lomb, we strive to make the most o our colleaguestalents. From a ront line operator to a scientist, rom a ront line sales

rep to a senior manager, development and growth o our people is keyto our long-term success.

The Develop element o our People Strategy sets out the ways we

will enable our people both to increase their contributions withinBausch + Lomb and become stronger proessionals in their own right.

It also encourages each and every employee to take accountabilityor their development by bringing awareness to resources and

opportunities or individual growth.


15/28



16/28

develop


There are three primary ways we help our people growproessionally:

First, by ensuring that managers at every level of ourcompany make employee development a top priority, andhave the unctional capabilities and tools to recognize andmaximize talent within their teams. This means ensuringthat our managers are always on the lookout or talent withintheir teams, and that they consistently work to help theiremployees access existing growth opportunities. It alsomeans investing time in key development processes, suchas individual development plans, to ensure employees are

getting the right opportunities at the right time. Second, by giving employees at every level of our company

the education and training opportunities they need in orderto learn new skills and expand existing ones. These may bedirectly related to their current work, or they may be a newset o skills aimed at preparing an employee to shit roleswithin the company.

Third, by providing our people opportunities for varieddevelopmental assignments that help them growproessionally. These include proessional rotations,temporary assignments in other unctional areas orgeographic locations, and similar opportunities to expandones skill set beyond an existing area o expertise.

Developing our people


17/28


Instituting a talent management process in all business units, unctions,and regions, so that our people are ready to take on new and challenging

responsibilities as soon as they become available. Talent managementincludes identiying critical roles and key talent; assessing strengths,

opportunity areas, and potential; and ensuring that employees maintaina current prole o their past experiences and skill sets, so that we may

identiy and leverage our internal talent.

Continuing to develop and improve front line manager competencyby equipping these managers with the skills to better engage and

motivate their workorce.

Expanding the learning and development resources withinBausch + Lomb University to provide training or all employees,regardless o their current role, level or region. These oerings will includerole-based needs as well as general education, such as our Eye Sciencetraining, arming each and every employee with a clear understandingo our customers top concern their eyes. In addition, we will deliver

experiential learning through programs such as WorkSmart and otherproject-based assignments.

Establishing a mentoring program, beneting both the mentor and thementee through sharing o knowledge and developing new skills. With

increased awareness o talented people throughout the organization,we will continue to build bench strength or succession and accelerate

development across the company.



18/28

energize

How we enhance andengage our peopleThe best way to optimize our investment in great people isto enable them to reach their peak perormance. Thats whatthe Energize element o our People Strategy is all about.

An energized workorce is one that is innovative andcreative, challenged and engaged. In an energizedworkorce, colleagues are accountable or results and

enjoy the independence to work hard to get meaningulthings done. In short, an energized workorce sees real

value in its work.

Every workplace has its challenges, o course, and every

colleague will experience occasional diculties anduncertainties, whatever their role and wherever they work.

What sets apart energized colleagues is that they relishtheir opportunities and bring a winning attitude to solve

the problems they encounter. They like what they do,and are proud o where they do it.



19/28



20/28

energize

Energizing our peopleAt Bausch + Lomb, we position our people or success by building

a high-performance and innovative corporate culture. Our culture isdened by The Bausch + Lomb Way, encouraging our people to thinkand act creatively, in ways that challenge convention and yield newand even surprising solutions.

Energized people in high-perormance cultures outperorm

competitors. The Energize element o our People Strategy

sets out ways that ensure our people are motivated, challenged,and supported in their work.



21/28



Striving to become a great place to work by reaching out to our workorce tolearn what Bausch + Lomb can be doing better and how we can oster trust at

our company. This process will result not only in gathering eedback rom our

employees, but also in implementing their suggestions or improvement. Weare also engaged in a series o other programs, including health and wellnessinitiatives and bettering the lie-work balance o our employees.

Strengthening the employee value proposition by energizing and leveragingthe Bausch + Lomb brand. Our company has a tremendous history andlegacy, which we translate into real value. Our goal is or our existing

employees worldwide, and prospective employees wherever they may be,to see the real value in being a part o Bausch + Lomb.

Improving internal communications by strengthening the communicationprocess to ensure that we are always letting our employees know where we

stand and where we are heading. As an example, Bausch + Lomb will continueto hold regular global employee meetings where sta worldwide can hear

rom the senior leadership team on how our company is doing and theprospects or uture success.


22/28

value


How we reward and

retain talentHow we value our people in everything rom how we rewardtheir contributions to how we recognize their milestones playsa crucial role in our ability to retain our best talent, and is the

ocus o the nal element o our People Strategy: Value.


23/28



24/28

value


Valuing our peopleAt Bausch + Lomb, we value diversity, and leverage the unique

talents and strengths o our workorce to achieve our vision tobecome the best global eye health company, maximizing the

potential o our individual employees as well as the organization.

We do this by cultivating an environment that celebrates similaritiesand dierences, where all employees are respected, valued, and

rewarded or their contributions that drive achievement o ourbusiness goals.

We also seek to go beyond compensation alone to reward and

recognize our people by improving the workplace experience,supporting employee community engagement, and rewarding and

recognizing individual and team perormance.

Diversity o people, thoughts, and ideas creates protability, growth,

innovation, and competitive advantage. When employees eelvalued, they are engaged in the success of our Company, and

better meet the needs o our diverse customers and consumers.

At Bausch + Lomb, we are building a diverse workorce not onlythrough strategic hiring practices, but also through fexible benet

policies that encourage and support such diversity. We work tosustain and expand that diversity by encouraging the growth o a

wide range o employee networks.


25/28

Valuing our people also means ensuring that every employee is treated well andequitably regardless o where in the world they may work, or what role they may holdin the company. In order to accomplish this, we benchmark high standards or ouremployee programs across the globe, and support our employees with a range o

initiatives that improve their quality o lie.

Likewise, valuing our people means nding new and meaningul ways to rewardtalent, as well as contributions that go beyond ordinary expectations. Each o theseareas provides our company with opportunities to demonstrate our commitment to

our people, reciprocating their commitment to Bausch + Lomb.


Continuing to build a more diverse workforce, including through additionaldiversity in our hiring and encouraging the development o employee networks.

Adopting a key talent retention strategy, in which we identiy key positions andtalent globally and seek to retain all o these individuals.

Leveraging our performance management process to acknowledge that most

o our people are meeting their objectives within our company and to regularly letthem know how they are perorming and what they need to do to keep improving.

Instituting organization-wide recognition programs and other compensationoerings, so that each and every employee has a balanced reward package

connected to their individual perormance and to the companys perormance.



26/28



27/28

Our people determine our futureWe have a special and important mission: Helping people see better to live better.Bringing that mission to lie is how we will achieve our vision o becoming the best

global eye health company.

The people o Bausch + Lomb are the driving orce behind what we accomplish orour customers and patients.

The People Strategy action steps outlined in this document create the ramework

and tools or enabling high perormance. Each o us, however, must take personal

responsibility or making the most o the elements and these tools to build ourcompetencies and grow our careers.

With our rich and growing pipeline, customer- and patient-centered way o working,

and steadily increasing strength in the marketplace, our uture is bright. That

uture depends on our people because its our people who create our pipeline,who live our way o working and who understand what it means to contribute to

a successul business.

By turning our People Strategy into action, we will all take concrete steps tobecoming the best at what we do individually and as a global team. We have

confdence in our uture because we have confdence in our people: the thousands

o talented Bausch + Lomb people we Select, Develop, Energize, and Value each day.



28/28

www.bausch.com

Bausch + Lomb World Headquarters

1400 North Goodman Street

Rochester, NY 14609

t: 585-338-6000

: 585-338-6007

2012 Bausch & Lomb Incorporated. Bausch + Lomb is a trademark o Bausch & Lomb Incorporated. PNP04435 SL6847

people strategy book

Documents