Full Annual Report - Inchcape

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Business review Strategy Corporate responsibility continued Our people At Inchcape we believe that to really achieve success it is our people who will make the difference. During 2009, as a consequence of our need to reduce costs in response to the economic downturn, we reduced the number of roles across our Group by around 14%. Despite this, we were able to maintain employee engagement and customer satisfaction at high levels.We believe that this is a direct result of our conviction that it is our people who make the difference and the actions arising from this. Our people strategy has the ultimate goal of having ‘Engaged People in Winning Teams’.We believe this goal will be achieved through four areas of priority: • the right people – by becoming a magnet for talented people who live our values and enjoy working in winning teams delivering outstanding results; • the right learning – by equipping our people to excel today and provide exciting development opportunities for the future,aligned to our business ambition; • the right reward – by recognising, celebrating and rewarding the contribution our people and teams make to delivering our challenging business ambition; • the right culture – by creating a great place to work where people choose to make a real difference and deliver the ultimate customer experience. Our employee base is diverse and reflects the different cultures and markets within which we operate.This diversity creates a range of perspectives that allow us to constantly challenge and improve the way we do things as we work towards our goal of putting the customer at the centre of our business. Talent and performance management Talent planning and performance management sit at the heart of our people strategy as we look to ensure we have the right people in every role.Whilst our processes are continuous there is a more detailed review and planning session conducted within each of our markets and at the centre, at least once a year. 2009 was the third year of this process.The process is designed to ensure that we constantly upgrade our talent and look to create the right development opportunities for all our people. Arising out of the talent planning process we have made several key people decisions, including secondments, promotions, lateral development moves, mentoring, and in many cases enhanced the development plans of the individual on the job.As a global business we are also able to provide international opportunities to our people and this allows us to create even more stimulating career paths and personal growth for many of our talented people. In 2009 we have made several changes within the Group Executive Committee and each of these changes was a consequence of this talent planning process. Our analysis continues to validate our belief that talented people who are aligned with our Company’s leadership skills and values yield higher levels of customer satisfaction and profit. Going forward we will continue to focus our efforts on ensuring that each of our employees has a meaningful development plan that takes into account their strengths, development areas and aspirations as well as the needs of the business.We recognise that development is personal to each individual and is core to the growth of the individual and through that, the growth of the Group. Inchcape operates in a constantly changing, evolving environment where employees meet new challenges regularly. We know we can only achieve success if each of us is growing, learning, developing and succeeding in our roles. Our employee survey results have told us that we need to do more to support employee personal development.We have therefore launched ‘Grow with Inchcape’ our guide to helping individuals better understand what development planning is, how it applies to everyone and what we can do to really prepare for our future and reach our potential.‘Grow with Inchcape’ demonstrates Inchcape’s commitment to people development. Employee communications During 2009, more than ever before, we have communicated with our employees regularly to ensure they were always well informed of the forces acting on us as a company, the state of the automotive industry in general, and to be transparent 44 Inchcape plc ¦ Annual Report and Accounts 2009
Section One Business review in accordance with our values with the actions we were taking.Through the various forums and channels of communication we were able to create much higher levels of involvement with our people on the business priorities.This was done in several ways including CEO roadshows, monthly employee meetings in several markets, a monthly Group wide newsletter, weekly sharing of customer letters,and by cascading messages through the line management. Employee survey Our annual Heartbeat survey is an important part of our overall employee engagement programme.We encourage our line managers to use the results of the survey to create action plans that will help their teams increase the levels of their engagement.We were delighted that over 90% of our entire Group wide employee population participated in the second wave of Heartbeat in 2009.We have seen an increase in the levels of engagement in our people and going forward we intend to continue this process. Employee reward We recognise that it is our culture, our values, and the opportunities we provide our people that attract talented individuals to us. However we also recognise the need to have well benchmarked, stretching yet stimulating reward opportunities for everyone.All of our reward programmes are aligned directly to the strategic requirements and expectations of our business and are designed to reward for high levels of performance. Our management incentive programmes have elements relating to customer satisfaction in addition to financial measures. Share awards and option plans are detailed on pages 69-70. In addition we have several local and Group wide schemes aimed at recognising people for high levels of performance and for demonstrating our values. Employee safety The safety of our people is of paramount importance to us. Many of our people handle hazardous substances and work with heavy machinery.We monitor and report accidents and lost time incidents to ensure that the safety of our staff and customers remains at the top of our agenda.We regularly review our policies and procedures for our people and have appropriate training programmes in place. The 2009 position is to the right.There is no specific trend or consistency of accident that has occurred either in a given location or across the Group. Spotlight on Health,Safety and Environment (HSE): Australia To support Inchcape’s vision of becoming the world’s most customer centric automotive retail group, many of our businesses are working towards creating an HSE culture of best practice and zero harm to people, property and our environment.There are many examples of excellent HSE initiatives around the Group. For example, Inchcape Australia, improved its HSE performance significantly over the last year through a strategic focus on cultural change. Their 2009 HSE strategy was so successful it resulted in several excellent outcomes, including a 30% year on year reduction in number of ‘Lost Time Injuries’ in December 2009, and a 20% year on year reduction in number of injuries and days lost. Inchcape Australia was also able to reduce workers’ compensation premiums by AU$ 600,000 by improving injury management systems and processes.The rollout of online systems, such as the ‘contractor induction system’ and the ‘incident reporting system’ and the development of safe work procedures, have also contributed to these fantastic results. Group accident statistics 2009 Number of Location Group % accidents 2009 Australasia 16 27 Europe 5 8 North Asia 18 30 South Asia 6 10 Russia and Emerging Markets 13 9 UK 42 70 Overall, there has been an improved level of compliance at all our Inchcape Australia sites, with HSE measures now incorporated into core business KPIs.Monthly meetings are held with senior management to provide updates regarding HSE performance for their business units. The hardworking HSE team are passionate about safety and, following a year of great achievement in 2009, are now focused on further plans for the next two years. In consultation with the business, they have developed an HSE strategy aimed at moving beyond compliance to best practice and zero harm in the workplace and look forward to continuing to drive HSE leadership and culture change. www.inchcape.com 45
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Section Four Shareholder informatio
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Full Annual Report - Inchcape

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