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Welcome to Our People Strategy
The Bausch + Lomb People Strategy
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we produce the highest-quality products and engage with our customers in more meaningful. When our people perform at their peak. It’s the result of sustained efforts on their part. together with an environment that encourages high performance and where excellence becomes a way of life. We help people see better – to live better. 4 The Bausch + Lomb People Strategy . When our people perform at their peak. and Processes. And it’s our people who create the products and drive the processes at the center of the Bausch + Lomb customer experience.Introduction Transforming our company through our people Our transformation has three integrated elements: People. lasting ways. Products. it isn’t by accident.
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developing. measurable roadmap Bausch + Lomb’s People Strategy is a critical component in The Bausch + Lomb Way of driving high performance. The strategy sets out specific. to support employees worldwide in becoming the best at what they do. and the ways in which our high-performance culture will help them succeed. 6 The Bausch + Lomb People Strategy . or in development. It describes the expectations we have of our people at Bausch + Lomb. actionable steps that are in place. and retaining our most valuable asset — our people. It is at the center of how we will get where we are going as a company. Our People Strategy is our company’s roadmap for attracting.Introduction An actionable.
The strategy is designed to grow and evolve along with the needs of our company and our people. 2. The Bausch + Lomb People Strategy 7 . Bausch + Lomb’s global Human Resources team works with senior management to develop the framework and drive the evolution of the strategy. and 3. particularly by creating a workplace that is inspired and inspiring. We will continually measure progress against the People Strategy’s objectives using a variety of means. making adjustments and improvements as they are needed along the way. However. the core assets of a high-performing company. To drive employee energy and engagement. including “Employee Willingness to Recommend” and a dashboard of key performance indicators. innovative and fulfilling.We have three objectives for our People Strategy: 1. diverse and dynamic. To align this energized and engaged workforce with our basic strategy and other elements of The Bausch + Lomb Way to deliver business results. To accomplish each of these objectives. every colleague — at every level — owns it and plays a key role in its success. To develop high-performing individuals and teams. we will continually measure the success of our People Strategy.
The people strategy and its elements Our People Strategy is organized around four elements. The final element defines how an individual’s contributions to our company are recognized and rewarded (Value). The first is the way a colleague is chosen for his or her role at Bausch + Lomb (Select). The second is the tools that an individual is given to grow. The third element focuses on the ways individuals are motivated and engaged to perform at the highest level possible (Energize). such as new skills and expanded opportunities (Develop). 8 The Bausch + Lomb People Strategy .
The Bausch + Lomb People Strategy select energize HigH Performance and Business results develop value The Bausch + Lomb People Strategy 9 .
” Selecting the best people begins with discovering. developing. 10 The Bausch + Lomb People Strategy . and acquiring the very best talent is central to the success of our company. attracting. The way we seek out that talent is the first element of our People Strategy: “Select.select energize HigH Performance and Business results develop value How we identify and hire talent Our high-performance culture — particularly our Success Mandates and our High-Performance Behaviors — relies on the strength of our people. and promoting talented people within our company. Only in those situations where we find that we do not have the necessary resources internally do we then seek out top talent from the outside. As a result. identifying.
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untapped talent already exists within our company. At the same time.select energize HigH Performance and Business results develop value Selecting talented people We know from experience that top. and that giving our people the chance to grow professionally is one of the wisest business decisions we can make. enhances employee performance and improves business results. creating a culture in which talented people are recognized and promoted internally improves our ability to attract the very best from the outside. business units or regions. or just as importantly. In fact. providing opportunities for our people to move up. 12 The Bausch + Lomb People Strategy . across functions.
This begins with ensuring that we have a complete picture of the talent that already exists within our company. achieving excellence in a consistent and effective manner. businesses. customers. we will establish these competency models across business units and regions. and expectations. • Instituting functional competency models to help ensure that our people have the knowledge and skills required to successfully carry out their jobs. It also means expecting that all new hires meet or exceed performance expectations in the first 12 months of their employment with the company. culture. across geographies and business units. products. The Bausch + Lomb People Strategy 13 . so that we continue to work as one Bausch + Lomb. We will supplement our global approach with necessary local orientations. • Implementing consistent global orientation for all employees.Some of the actions we are taking in this area include: • Employing a global approach to hiring the best talent by maximizing our capabilities and building on our existing resources. to ensure alignment and understanding of our company’s history. In many cases.
select energize HigH Performance and Business results develop value How we support and promote our people At Bausch + Lomb. 14 The Bausch + Lomb People Strategy . development and growth of our people is key to our long-term success. from a front line sales rep to a senior manager. we strive to make the most of our colleagues’ talents. The “Develop” element of our People Strategy sets out the ways we will enable our people both to increase their contributions within Bausch + Lomb and become stronger professionals in their own right. From a front line operator to a scientist. It also encourages each and every employee to take accountability for their development by bringing awareness to resources and opportunities for individual growth.
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and similar opportunities to expand one’s skill set beyond an existing area of expertise. by providing our people opportunities for varied developmental assignments that help them grow professionally. to ensure employees are getting the right opportunities at the right time. such as individual development plans.select energize Developing our people There are three primary ways we help our people grow professionally: • First. temporary assignments in other functional areas or geographic locations. It also means investing time in key development processes. and have the functional capabilities and tools to recognize and maximize talent within their teams. HigH Performance and Business results develop value 16 The Bausch + Lomb People Strategy . • Second. • Third. These include professional rotations. by ensuring that managers at every level of our company make employee development a top priority. These may be directly related to their current work. This means ensuring that our managers are always on the lookout for talent within their teams. by giving employees at every level of our company the education and training opportunities they need in order to learn new skills and expand existing ones. or they may be a new set of skills aimed at preparing an employee to shift roles within the company. and that they consistently work to help their employees access existing growth opportunities.
we will deliver experiential learning through programs such as WorkSmart and other project-based assignments. • Establishing a mentoring program. Talent management includes identifying critical roles and key talent. opportunity areas. benefiting both the mentor and the mentee through sharing of knowledge and developing new skills. The Bausch + Lomb People Strategy 17 . • Expanding the learning and development resources within Bausch + Lomb University to provide training for all employees. so that we may identify and leverage our internal talent. and regions. In addition. These offerings will include role-based needs as well as general education. we will continue to build bench strength for succession and accelerate development across the company. so that our people are ready to take on new and challenging responsibilities as soon as they become available.Some of the actions we are taking in this area include: • Instituting a talent management process in all business units. With increased awareness of talented people throughout the organization. level or region. functions. and ensuring that employees maintain a current profile of their past experiences and skill sets. assessing strengths. and potential. regardless of their current role. arming each and every employee with a clear understanding of our customers’ top concern — their eyes. • Continuing to develop and improve front line manager competency by equipping these managers with the skills to better engage and motivate their workforce. such as our Eye Science training.
Every workplace has its challenges. an energized workforce sees real value in its work. 18 The Bausch + Lomb People Strategy . challenged and engaged. In an energized workforce. An energized workforce is one that is innovative and creative. and every colleague will experience occasional difficulties and uncertainties. In short. and are proud of where they do it. whatever their role and wherever they work. They like what they do. of course. colleagues are accountable for results and enjoy the independence to work hard to get meaningful things done. What sets apart energized colleagues is that they relish their opportunities and bring a winning attitude to solve the problems they encounter. That’s what the “Energize” element of our People Strategy is all about.select energize HigH Performance and Business results develop value How we enhance and engage our people The best way to optimize our investment in great people is to enable them to reach their peak performance.
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in ways that challenge convention and yield new and even surprising solutions. encouraging our people to think and act creatively. Energized people in high-performance cultures outperform competitors. we position our people for success by building a high-performance and innovative corporate culture. challenged. Our culture is defined by The Bausch + Lomb Way. The “Energize” element of our People Strategy sets out ways that ensure our people are motivated.select energize HigH Performance and Business results develop value Energizing our people At Bausch + Lomb. and supported in their work. 20 The Bausch + Lomb People Strategy .
As an example. • Strengthening the employee value proposition by energizing and leveraging the Bausch + Lomb brand. including health and wellness initiatives and bettering the life-work balance of our employees. We are also engaged in a series of other programs. This process will result not only in gathering feedback from our employees. which we translate into real value. Bausch + Lomb will continue to hold regular global employee meetings where staff worldwide can hear from the senior leadership team on how our company is doing and the prospects for future success. The Bausch + Lomb People Strategy 21 . to see the real value in being a part of Bausch + Lomb. Our goal is for our existing employees worldwide. • Improving internal communications by strengthening the communication process to ensure that we are always letting our employees know where we stand and where we are heading. Our company has a tremendous history and legacy.Some of the actions we are taking in this area include: • Striving to become a great place to work by reaching out to our workforce to learn what Bausch + Lomb can be doing better and how we can foster trust at our company. and prospective employees wherever they may be. but also in implementing their suggestions for improvement.
select energize HigH Performance and Business results develop value How we reward and retain talent How we value our people — in everything from how we reward their contributions to how we recognize their milestones — plays a crucial role in our ability to retain our best talent. and is the focus of the final element of our People Strategy: “Value.” 22 The Bausch + Lomb People Strategy .
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and leverage the unique talents and strengths of our workforce to achieve our vision to become the best global eye health company. At Bausch + Lomb. We do this by cultivating an environment that celebrates similarities and differences. where all employees are respected. thoughts. Diversity of people. and rewarded for their contributions that drive achievement of our business goals. and rewarding and recognizing individual and team performance. supporting employee community engagement. We also seek to go beyond compensation alone to reward and recognize our people by improving the workplace experience. they are engaged in the success of our Company. growth.select energize HigH Performance and Business results Valuing our people At Bausch + Lomb. and competitive advantage. When employees feel valued. develop value 24 The Bausch + Lomb People Strategy . and ideas creates profitability. valued. We work to sustain and expand that diversity by encouraging the growth of a wide range of employee networks. we value diversity. and better meet the needs of our diverse customers and consumers. maximizing the potential of our individual employees as well as the organization. but also through flexible benefit policies that encourage and support such diversity. we are building a diverse workforce not only through strategic hiring practices. innovation.
• Adopting a key talent retention strategy. we benchmark high standards for our employee programs across the globe. • Instituting organization-wide recognition programs and other compensation offerings. and support our employees with a range of initiatives that improve their quality of life. as well as contributions that go beyond ordinary expectations. Likewise. reciprocating their commitment to Bausch + Lomb. Some of the actions we are taking in this area include: • Continuing to build a more diverse workforce. including through additional diversity in our hiring and encouraging the development of employee networks. Each of these areas provides our company with opportunities to demonstrate our commitment to our people. valuing our people means finding new and meaningful ways to reward talent. in which we identify key positions and talent globally and seek to retain all of these individuals. or what role they may hold in the company. so that each and every employee has a balanced reward package connected to their individual performance and to the company’s performance.Valuing our people also means ensuring that every employee is treated well and equitably regardless of where in the world they may work. The Bausch + Lomb People Strategy 25 . • Leveraging our performance management process to acknowledge that most of our people are meeting their objectives within our company and to regularly let them know how they are performing and what they need to do to keep improving. In order to accomplish this.
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and Value each day. our future is bright. We have confidence in our future because we have confidence in our people: the thousands of talented Bausch + Lomb people we Select. who live our way of working and who understand what it means to contribute to a successful business. customer. we will all take concrete steps to becoming the best at what we do — individually and as a global team. and steadily increasing strength in the marketplace. The people of Bausch + Lomb are the driving force behind what we accomplish for our customers and patients. Each of us. Develop. however. That future depends on our people — because it’s our people who create our pipeline. With our rich and growing pipeline.Our people determine our future We have a special and important mission: Helping people see better – to live better. The Bausch + Lomb People Strategy 27 .and patient-centered way of working. Bringing that mission to life is how we will achieve our vision of becoming the best global eye health company. Energize. By turning our People Strategy into action. The People Strategy action steps outlined in this document create the framework and tools for enabling high performance. must take personal responsibility for making the most of the elements and these tools to build our competencies and grow our careers.
bausch. Bausch + Lomb is a trademark of Bausch & Lomb Incorporated.www.com Bausch + Lomb World Headquarters 1400 North Goodman Street Rochester. PNP04435 SL6847 . NY 14609 t: 585-338-6000 f: 585-338-6007 © 2012 Bausch & Lomb Incorporated.