Training, development and talent management
We aim for a high performing organization, which also sets the ambition level for our people. We provide career and development opportunities to all employees across our organization. With a strong international and cross-functional focus in our talent management processes we are building the capabilities of our employees to develop and grow together with Outokumpu.
Outokumpu provides learning opportunities to the employees in the form of job rotation, on-the-job training and specific skills training as well as training programs. As safety always comes first in our operations, safety is a key area where the company offers training to its employees. Outokumpu promotes job rotation across the organization to develop employees and their competences and has an international assignment policy and guidelines for longer and shorter postings.
Outokumpu has a talent review process that allows a systematic review of talents across the company. This process helps to identify both potential resourcing gaps and competence needs for future training and development as well as retention of the knowledge.
Strengthening diversity, equity & inclusion
Outokumpu’s ethical principles described in Outokumpu’s Code of Conduct build on the equal treatment of all people, and there is zero tolerance for any kind of discrimination, whether it is based on ethnic origin, nationality, religion, political views, gender, sexual orientation or age. This is also promoted in remuneration, following the principle of equal pay in equivalent tasks.
Outokumpu’s Ways of Working guide our day-to-day work. One of the elements in our Ways of Working is that we grow people and value diversity. We want to create a work environment that allows all team members to develop and grow. We are operating in an increasingly global environment with a diverse organization in terms of e.g., age, culture, ethnicity, gender, religion, sexual orientation. It is very important that everyone feels comfortable and welcome and can contribute equally to our joint journey.
In 2022, we defined our roadmap and targets to strengthen DE&I at Outokumpu. Our ambition towards 2025 is that we aim for our workforce and leadership to represent the societies we operate in and serve. Our specific targets are:
Increasing diversity in leadership:
Add 100 diverse leaders to leadership teams by end of 2025
Minimum 30 % of diverse leaders in all international BA / BL / function management teams by end of 2025
Ensuring equal access to opportunities:
Correct any biases in recruitment and promotion processes by end of 2022
Full equality on compensation (verified by external certification) by end of 2023
Strengthening our working culture so that everyone feels welcome:
Enforcing the culture of zero tolerance for inappropriate behavior
60 % agreement score on all areas of inclusion and across all diverse employee groups
Based on the roadmap and targets, we have so far, for example, updated our recruitment policy and processes and adopted diverse interview panels globally. In 2023, we are further focusing on providing training and support on DE&I topics and reviewing compensation equality.
Compensation and benefits
In terms of compensation and benefits, Outokumpu has an overall framework and principles defined by Corporate Human Resources. Outokumpu’s intention is to provide a competitive base salary for all Group employees based on the scope of their role, individual performance and in line with local labor market and agreements. Remuneration practices and compensation levels regarding different positions are analyzed and evaluated systematically. Typically, base salary levels vary according to the stage each individual has reached in their career.
There are no globally applied indicators of equal remuneration between women and men, but for example in Finland, Germany and Sweden men’s and women’s salaries are analyzed regularly. For the UK, please see more information in Outokumpu's UK gender pay report. The aim of the comparison is to achieve statutory equality in wages and salaries, where the amount of pay is relative to the work responsibilities and competence and not the gender of the employee.
In addition to base salaries and employee benefits, Outokumpu has in place short-term incentive plans which are clearly linked to the overall business targets and the financial performance of the company.