Performance Management Process

Neste’s Performance Management Process plays an essential role in helping the Group attain its strategic goals and reinforcing its performance-driven mindset. Neste has taken a step change in developing its performance leadership into a more agile model supporting daily operations.

Performance management comprises daily leadership, through which individuals, teams, units and the Company can achieve selected strategic priorities and develop organizational capability. Performance leadership is used to ensure that everyone knows the values and objectives of the Company, and their short- and long-term objectives, and what kind of competence is needed and developed to achieve these objectives. 

Individual and team goals are based on Neste’s strategy and way of working. There is a clear link between wellbeing at work and good leadership performance.

The key elements in the Neste daily performance leadership approach are:

• setting challenging goals and following them through;

• supporting the achievement of goals with regular feedback;

• evaluating one’s own performance and results;

• developing ways of working and taking responsibility for one’s own competence development; and

• holding regular personal development discussions and check-in discussions that support day-to-day work.

From a financial outlook and reporting perspective, the Neste Performance Management Process consists of long-term financial projections based on the strategy based on the strategy and planning and forecasting in a midterm. During the year, performance is evaluated in weekly and monthly Management Reporting and in the Monthly and Quarterly perfomance reviews.

Financials and KPI-related information is evaluated against the strategic goals and business plans, and required actions are steered and followed throughout the year.