BBVA has a global people management model in place that inspires employees toward a common purpose and shared values, while recognizing and rewarding individual contributions. In this way, it involves the workforce in the global strategy and reinforces their commitment to the objectives of the company.
BBVA’s values and behaviors are there to guide and steer employees in their day-to-day decision-making and to help them accomplish the Group’s purpose of “bringing the age of opportunity to everyone”. They are the hallmark of all those who work within the Group. They are part of BBVA’s DNA and are built into the key models and drivers in place to promote the bank’s transformation. This extends to the global people management processes, ranging from the selection of new employees, role assignment, evaluation, people development and training, to incentives for meeting annual objectives.
The model allows the bank to appraise the capabilities and potential of each subject, as well as their individual performance. Capabilities are assessed through a 360º evaluation process, taking into account the opinions of managers, co-workers, collaborators and team members, as well as the views of colleagues from other areas and departments with whom the employee works. The capabilities that are assessed allow the employee to learn more about themselves, to benchmark their performance against the level required for their role, and to understand the extent to which their behavior is aligned with the Group’s values. The process also includes a space for open feedback from all those involved in the assessment process.
Meanwhile, individual performance assesses the extent to which each employee has met the targets agreed with their manager at the beginning of the year and how they have gone about it. This allows the organization to analyze not only the degree of achievement of the targets, but also the extent to which the subject has embraced BBVA’s culture and values in doing so, in line with the principles enshrined in the BBVA Code of Conduct.
Each employee's individual performance level is reflected in his or her variable compensation, which also includes an appraisal of the Group's strategic objectives and the area to which he or she belongs. The bank discloses information quarterly on the level of progress achieved, thus fostering transparency and team morale and motivating people toward a common goal on the path to achieving the Group’s strategy.
Based on the results of the capability assessment and performance evaluation, a talent map is drawn up and delivered to the employee as part of a final results report. Thanks to this tool, each employee is able to draw up a growth plan to get to know themselves better, improve their performance and explore new paths.
The bank fosters a culture of continuous feedback, where employees are able to discuss their performance on a regular basis without having to wait for their evaluation. This is achieved through specific initiatives, training courses, coaching and mentoring programs, platforms for sharing recognition, public feedback and other human resource management tools such as Workday.
The people management model at BBVA is a continuous process that takes place daily to promote meritocracy and a high-performance culture. The results of the evaluations are a key input for promotion processes and salary raises to recognize and reward the professional progress made by employees, thus fostering excellence and meritocracy within a transparent, clear and objective framework.