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Performance management

Performance Reviews

In order to stimulate high performance, commitment, and the continuous development of all employees, the group targets are deployed into team and personal targets for everyone.

Bekaert has developed and deployed a People Performance Management (PPM) program. PPM is our way of looking at people performance and how we can better achieve our goals in the future. As such, PPM is part of a larger effort to become a much more performance-driven organization. In 2020, the Bridon-Bekaert Ropes Group teams worldwide joined the PPM program, making it now a coherent process in all consolidated entities of Bekaert. 

The performance management process includes two-way personal development reviews, transparency, feedforward and leadership behavior.

Enablers for the people performance management practice are: a clear alignment of team and individual goals with business priorities; frequent performance steering and coaching; fair recognition in line with the achieved performance; and better supporting tools that allow employees to keep track of their performance and feedforward actions throughout the year. 

Percentage of employees who received a performance review in 2020(1):

 
EMPLOYEE CATEGORY  PERCENTAGE
Managers 100%
Salaried professionals 100%
Operators 78%

(1)Excluding JVs

(GRI 404-3)

Remuneration & Benefits

We offer competitive salaries and benefits designed to enhance the financial, physical and overall well-being of our employees and their families. Our offerings differ from country to country and are often adapted to local social security policies. We provide a wide range of employee benefits that may include retirement benefits, healthcare plans, service awards, labor accident disability coverage and paid leave. For detailed information on employee benefits, we refer to section 6.15 of the Annual Report.  

(GRI 201-3)

Benefits provided to full-time and part-time employees by significant locations of operation (> 1000 employees):
(GRI 401-2 GRI 403-6)

 
Benefit Belgium Slovakia China Chile US  Indonesia 
Life insurance Yes
Yes
Yes Yes Yes
Yes
Health care Yes
No Yes
Yes Yes
Yes
Disability coverage Yes Yes Yes Yes Yes
Yes
Parental leave Yes Yes Yes Yes Yes
Yes
Retirement provision Yes Yes Yes Yes Yes
Yes
 Stock ownership No No
No
No
No
No

These benefits are not provided to temporary workers (‘interim workers’) who are not on the Bekaert payroll.

Termination and severance

Bekaert has closed and restructured several sites in 2020. The management only implements such measures when other options to restore the performance in view of securing a sustainable, profitable future, have failed or are non-existent.

In implementing such measures, the management aims at mitigating the social impact for the affected employees by considering re-industrialization, re-employment help and a fair severance package.

(GRI  404-2)

More information on Bekaert’s recent restructuring programs is available in the Annual Report 2020.