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EVALUATION AND PERFORMANCE

As announced in the 2009 annual report, the company was committed to progress in 2010 towards a 360 degree evaluation model and during the last quarter of the year, a global evaluation model of this type has been implemented.

All our employees are covered by our performance evaluation system. This system collects information from seven data sources to evaluate employee performance: self, 2 peers, 3 subordinates and the manager.

To guarantee the success of the implementation of the new evaluation tool, in 2010 “the Guide to the potential and performance appraisal” was created to help our employees to have easy access to all the information they needed as they worked through the appraisal process, and could master the tools, timeframes and procedures that go along with the appraisal of their activity. In order to communicate this guide to all employees, videos were designed and publish in our intranet. We launched a contest for all employees, and the winners were those who answered correctly to the questions and did their evaluation on time.

Performance and potential evaluations are based on the company strategic competencies, key performance indicators and a Global Assessment. By defining and evaluating gaps, continuous feedback interviews are encouraged and employees are also asked to build up an Individual Development Plan. We encourage all the employees to create their own Individual Development Plan as one of the most relevant support tools in all employees’ development.

In 2010, we decided to separate the performance evaluation from the potential evaluation processes. The processes take place at different times, but the period they appraise is the same.

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