Welcome to Elevate Performance
At Experian, we're creating a high-performance environment that inspires and enables our employees to be at their best, delivering the highest standards to our clients. We work in a dynamic and competitive industry and we need to have big, bold, ambitious goals - and achieve them - if we are to succeed.
Elevate Performance is our global approach to performance management and is designed to support this ambition.
Goal Setting
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We start the year by setting our goals, initially through conversations with managers, and then in a team goal overview meeting, where we share our goals with each other and outline what we are aiming to achieve. Managers will calibrate goals across the team to ensure a level of stretch that is appropriate for each role and level of responsibility.
To keep the focus on what's truly important, we work towards a recommended 2-3 goals at a time alongside our core responsibilities. One of these goals will be designated as the dominant goal, this is the goal that matters the most to you or your team at that point in time. To be clear on what success looks like, each goal should define what the minimum standards and high performance measures are.
Performance Tracking
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As we move through the year, we track performance at regular intervals. This is important to ensure we stay on top of our goals - keeping things progressing to deliver great outcomes.
Each team decides on the right performance tracking cycle for them, i.e. how often they are going to check in on progress against their goals, this will depend on the nature of the work they do. In each cycle, as well as one-on-one meetings with the manager, the team will take part in a team performance tracking meeting. In this session the team share their progress, give feedback to each other, adjust goals as needed and celebrate achievements! New goals can be added as others are completed.
In both of these types of meetings, it is important to be open and honest. They are an opportunity to give and receive feedback and to hold each other accountable. Feedback should always be constructive but supportive and focused on helping the team achieve the highest performance outcomes possible!
End of Year Review
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Performance conversations happen throughout the year, but once a year we take a moment to reflect on our achievements and formally rate performance. We recognize and celebrate what has gone well, acknowledge where things could have been better and agree what development we need to continuously improve.
During the one-to-one end of year review, team members and their managers should reflect upon and discuss performance against the year's goals and core responsibilities, progress made against development plans and also consider whether this has been achieved in line with The Experian Way.
Feedback from throughout the year should also be summarised and discussed during this time to help ensure a broad view of performance.
Managers will calibrate performance ratings, ensuring that they are consistent and fair, before confirming them with their team.
This process closes out the annual performance cycle - we then turn to the next year and think about how to achieve even more!
Development
Having great development conversations will support you on your journey to delivering high-performance. These development conversations should be ongoing and will usually be aligned with your one-to-one meetings.
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Think about ...
Where
- Where do you want to go next or in the future?
- What knowledge do you need to acquire (e.g. product, process, customer, market)?
- What practical skills would enable you to do your current role, or future role better (e.g. facilitating, presenting, leading calls)?
- What experience do you need (e.g. leading projects, influencing skateholders)?
Now
- How are you performing today?
- What are your current strengths and development needs?
- What feedback have you been receiving?
- If you're not sure, why not ask for feedback from a rounded selection of colleagues and stakeholders to help give you a view?
Next
- What's next?
- What will your focus be?
- What are your priorities for your development plan?
- What activities will best suit your needs?
- Document your plan, take action and track your progress
Feedback
Feedback is important for all of us in our pursuit of high-performance and personal development. When we are driven to be the best that we can be, feedback helps us understand what we can do differently, or even better. When we are moving at pace, feedback ensures we stay on track. When we are trying new things, we need to adjust in an agile way - feedback helps us evolve our performance and our thinking quickly.
Throughout your performance tracking cycles, you should be collecting "in-the-moment" feedback related to your goals and The Experian Way. You can use feedback.me to easily request, collate and review developmental feedback you've received from colleagues, give timely feedback and to ask for feedback on specific topics or pieces of work.
You can include this in your end-of-year review conversations, however, don't forget you can also request feedback from your wider base of stakeholders, simply by asking "What's worked well? What would be even better?". Don't forget to be specific on the topic you'd like feedback on. Further tips on requesting feedback can be found on the learning playlist below.
The Experian Way
We have a unique and consistent way of working globally; we call it The Experian Way. It informs how our people act and behave, which shapes our culture. It helps us express the performance ambition we have for our business, empowers our people and enables them to drive innovative solutions for customers.
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At Experian, whether your role brings you into contact with customers directly or not, all of us contribute to meeting customer needs. At the heart of what we do are the relationships we invest in and nurture.
We are proactive and innovative in understanding customers' points of view, their needs and challenges so we can focus on delivering value to them through the right solutions. We proactively support each other internally to enable the best outcomes for customers.
We focus strongly on execution and delivering what we promise. We go the extra mile for our customers.
We take accountability and focus on continuous improvement of our service, making it simple and easy. If things do go wrong, we focus on finding the solution in a quick and professional manner.
Innovation is essential to drive our ambitious growth plans. We are each responsible for finding opportunities and improving the way we do things to help our business and our customers grow.
For us innovation is both transformative thinking and a continuous process of improvement. It’s not just for products and services, we’re innovative and competitive in the way we approach things and strive to do them better.
We understand that innovation requires taking the right risks. We welcome the opportunity to try new things, implement them fast and make them work. We understand that failure is part of the innovation process. If we fail, we correct fast and learn from it to keep improving.
We scan the external environment and look for opportunities to compete, and we don't shy away from challenging things if we see a better way. We get out of our comfort zone, take ownership and find ways to share and nurture our ideas. We adapt our processes where they can be improved.
An idea without execution is worthless, so we prioritise, perform the required due diligence and execute in an agile way.
We work with a 'One Experian' mindset as one united team and use the combined strengths and capabilities of our people, products and services across teams, functions and regions. This translates into seamless experiences for our customers.
We trust each other and proactively reach out to work together. We do this to innovate, to compete and to solve problems better, driven by a clear focus on performance, results and outcomes.
We overcome barriers and work together across organisational boundaries, geographies and markets. We do this without slowing things down or losing individual ownership and accountability.
We collaborate with others in a purposeful way, considering who we need to involve in our work to make it a success as well as how we can help others achieve their outcomes.
We work closely with our customers and partners to unlock greater value and help us develop better solutions.
At Experian, each of us acts as a guardian for the protection of data, information, assets and our people to safeguard our future.
We understand and apply the highest standards and rigour and make sure the data we access and work with is secure. We make sure our partners apply the same standards and rigorous approach.
Operating with honesty, integrity and with high ethical standards is critical to us and we place strong value on being a force for good in the communities we operate in.
We act as a trusted steward of data. This builds greater confidence in our customers.
Each of us takes responsibility to understand the risk and compliance obligations of our role. We plan for what might go wrong as we innovate and collaborate, and we make decisions in the right way.
We ensure that everyday security measures are always in place to protect ourselves and our assets.
We make Experian a great place to work. We treat each other with respect, trust and integrity.
We support and invest in each other to help everyone achieve their potential and aspirations. We are prepared to speak up and take a leadership role.
We recognise and celebrate strong individual and team performance. We value those who set high standards and ambitious goals for themselves and strive to meet, and even exceed, them.
We respectfully challenge each other and share regular, constructive and candid feedback with the intent of raising performance standards.
We promote a culture of inclusivity and value diversity of all kinds including in thinking, knowledge and experience.
We are passionate about having a positive impact on the lives of others through our involvement in the communities in which we live and work.
Reward and Recognition
Recognising, celebrating and rewarding great performance in Experian is enabled in many ways. There is a strong link between performance and reward.
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Performance is rewarded both at an individual level through pay increases, bonus moderators, commission accelerators and LTIP recommendations (grade appropriate) during the annual review process, and for the achievement of business goals through the Experian Bonus Schemes. We can also award achievements throughout the year via the One Experian Recognition Programme.
Non-monetary awards will be used to recognise achievement of the high-performance measures set against a dominant goal for employees at grades EB6 and above. The award should be meaningful and tailored to the individual (e.g. concert tickets, a weekend away, professional examination sponsorship), and the size of the award should be measured against the achievement, up to a maximum of 5% of the individual’s salary and cannot be delivered in cash.