It’s important to reward our employees competitively for the great work they do. We think that reward is about more than just pay – it should also include a range of benefits and the opportunity to work and learn in an inclusive and supportive environment.
Our reward package is based on employee performance, including operating in line with our core values. Every BP employee sets priorities for their contribution to safety and creating value. In 2019 we changed our annualcash bonus, linking it directly to our sustainable emissions reduction (SER) target. This means that for around 37,000 eligible employees, including executives, part of their overall reward is now linked directly to meeting our low carbon emissions targets. In February 2020 we built on this, announcing a new aim to mobilize ourworkforce to be advocates for net zero. This includes increasing the percentage of remuneration linked to SERs.
Our executive pay is also linked to performance, with safety, reliable operations and financial performance accounting for one-third of executive bonuses. Tier 1 and tier 2 process safety events and recordable injury frequency are the safety performance measures we use for executive reward.
Making progress toward our strategic priorities accounts for 20% of the longer-term share awards of our chief executive officer and chief financial officer. Many performance measures, including those related to gas, renewables, venturing and renewables trading, contribute to this.
See bp.com/annualreport for more information on remuneration.
We support employees’ health and wellbeing through our global employee assistance programme (EAP), a service that’s available 24-hours a day, 365 days a year. Employees can contact the EAP to discuss anything that may be worrying them, including financial difficulties or significant life events such as illness, bereavement or divorce.
As part of our work to modernize and transform BP, we’re doing more to embrace flexible working – allowing employees to find a better work-life balance and work more productively. We’ve refreshed and launched our global flexible working principles and reviewed our leave allowances, providing every employee with a minimum amount of paid parental or carer leave.
We make a substantial investment in employee development – with a focus on driving safe, reliable and compliant operations, and on building technical, functional and leadership capability. We provide a range of development opportunities for our people through a mix of: on-the-job learning; developmental relationships with mentors, managers and peers; and training delivered face-to-face, virtually and via simulation or e-learning.
Succession planning is important to BP. We must make sure we have the right people progressing through our company to become our future leaders. One of the ways we’re doing this is through the ‘your leadership: our future’ programme, which is designed to equip potential leaders in our Upstream business with the skills they will need to excel in leadership roles.
In August 2019 we launched ‘accelerate’, a global programme to support employees as they transition into leadership roles. The three-month accelerate curriculum covers everything from motivating teams to health andwellbeing. More than 1,000 employees have participated in the programme since it was launched. In September 2019 we launched ‘mentor match’, a one-year programme that is now providing one-to-one mentoring for almost 300 high-potential employees.
We run three other talent-development programmes for high-potential employees and future leaders. The ‘aspire’ programme focuses on building partnership and leadership skills. It had 76 participants in 24 BP locations in 2019. The ‘catalyst’ programme comprises stretching strategic projects designed to energize and engage employees, particularly those based outside key locations. It was completed by 80 employees in 2019. The ‘leadership insights’ programme helps prepare employees for future leadership roles.
To understand what our employees think and feel about BP, we run an annual ‘Pulse’ survey. The overall employee engagement positivity score in our 2019 survey was 65% (compared with 66% in 2018). Pride in working for BP was 75% (compared with 76% in 2018, the highest level for 10 years).
In the 2019 survey participating employees told us we should focus more attention in several areas, including: sharing our strategy, reinforcing the need for an open speak-up culture, explaining how BP is taking action to help create a low carbon future and providing updates on safety improvements and other priorities.
We also launched our continuous listening survey ‘Pulse Live’ to parts of BP in 2019, which enables us to monitor changes in employee sentiment on a weekly basis.
We need to attract, recruit and retain talented people in all areas of our company. This is a key challenge for us and our peers, with fewer young people currently choosing careers in science, technology, engineering and maths (STEM) fields.
We currently support initiatives around the world to encourage students to study STEM subjects and then choose careers in linked fields. We’re working in collaboration with others, for example the Royal Academy of Engineering in the UK and are involved in many different initiatives. These include POWERful Women and Million Women Mentors, which both focus on bringing more women into STEM disciplines and professions.