The aim of the performance management system, applied to the whole Group, is to maximize performance in the company and to manage the performance of employees by objectively evaluating them according to common criteria. At the Target Setting Meeting, held between managers and employees at the beginning of each year, targets are set for employees for that particular year, fully integrated with the targets of the company. The developments of these targets are monitored monthly, quarterly, and every six months throughout the year, with corrective measures taken when necessary. At the end of the year, we evaluate how successful the employees have been in reaching their predetermined targets.
In the 360-degree competency evaluation system, employees are assessed by their managers, their peers, and subordinates (if any), according to Koç Group’s Competency Principles.
These are the competencies expected from Koç Group employees:
• Direction Setting
• Result Orientation
• Innovation and Entrepreneurship
• Adaptation and Managing Diversity
• Customer Orientation
To go over the results of the evaluation, the manager and the employee come together for a performance evaluation meeting to determine the steps necessary to assist the improvement of the employee and to make an improvement plan. The improvement plans are prepared and recorded electronically through the Koç Academy, the Koç Group’s Improvement and Training Platform.