Recognition and Rewards
The success of Sandoz depends on the performance and dedication of each of our employees. We strive to be an employer of choice that attracts, develops and motivates talented and performance-driven people from all around the world.
A key element in building a winning culture is providing an environment, where employees are recognised for their individual contributions and performance, as well as provided continuous feedback, so that they might improve themselves and their performance.
We want to foster a culture where all employees feel an inherent responsiblity to also contribute to the growth of their colleagues, by providing them with constructive and forward-looking feedback, in alignment with the Sandoz values and behaviours.
Our performance-based compensation policy applies to all Sandoz employees and is designed to:
- Align the objectives of associates with the interests of Novartis shareholders;
- Incentivize associates to create sustainable value for Sandoz/Novartis;
- Support a diverse and performance-oriented culture that allows Sandoz to reward people who perform well; and,
- Be competitive with world-class companies and industry peers.
Basic Compensation and Pay
Each associate is given a fixed salary based on job characteristics, market competitiveness and the associate’s skills. Salary growth is dependent upon the associate’s individual performance and salary level compared to the market.
Variable Compensation and Annual Incentive Plans
In addition to a base salary, we also believe in rewarding people for their contribution to business performance as part of our Performance Management Process. Most associates participate in annual incentive plans, where awards are given based on the associate’s individual year-end performance rating and Group or business area performance.
Sandoz benefits programs are an integral part of the total compensation policy, and are designed to meet the challenges of the growing, global competition for talent.
These programs support the overall business objectives and strategy of Sandoz. Benefits are aligned with the local legislation and practices in each country, and are established to provide a framework of security for our employees.