Over the course of the years, Fincantieri has built up and strengthened its internal talent management process in order to extend the range of its employees' skills, to develop career plans and to assess the performance of resources, making sure that they are in keeping with corporate strategy guidelines and the Company's skills model.
The Group invests a great deal in developing and constantly training its resources, two inseparable elements that are the cornerstones for building knowledge and distinctive skills and maximizing technical and professional growth. In 2018 Fincantieri further invested in training and development programs delivering more than 650,000 hours of training, with an average of 34.3 hours of training per capita, in order to ensure that its human capital is always highly developed.
Hours of training
Average hours of training per capita
+ € 4 M
invested in training
The training program offered at Fincantieri aims at creating a common basis of competencies for all employees by fostering the process of sharing corporate values and steering the Group towards the adoption of distinguishing organizational behaviors.
The training program includes: "FORmare", a set of courses aimed at meeting the demand for technical and specialized training, developing professional know-how, and reinforcing soft skills and the knowledge of foreign languages; the Safety Academy, offering courses on health-, safety- and environment-related subjects; Fincantieri Corporate University, a management school set up and run in collaboration with the best-known business schools in Italy and offering technical and management training courses to improve employees' competencies in the different stages of their individual professional growth paths.
In the field of human capital development processes, the Group has adopted a system of annual individual performance appraisals for several years now. This is one of the fundamental tools for managing human resources, which besides aiming to improve employees’ performance by means of individual feedback, also serves to support meritocracy, to customize personal development processes and to plan training appropriate for the skills gaps that come to light.
Analyzing the results of this systematic, periodical process allows the best organizational tools to realign skills to be chosen, to plan training programs to improve critical areas and to nourish professional growth.
Fincantieri introduced 360° assessments as part of its people development process. This individual growth tool enables the company to obtain a complete assessment of its human resources by comparing the feedback resulting from self-assessment and assessment-by-others surveys. The assessment surveys are filled out by many people: the person directly concerned with the survey (the Respondent), the first-line Supervisor, Peers and Collaborators.
The variety of feedback information allows Respondents to gain a clear picture of their assessed competencies, all of which is then shared in full disclosure with all the employees.
The introduction of the 360° assessment method is a clear indication of the great importance Fincantieri attaches to receiving feedback from its employees at all corporate levels, and of the common effort put into achieving excellent competency ratings.
Over the years, Fincantieri has introduced a procedure to evaluate the potential of its resources with the aim of assessing, capitalizing on and developing the wealth of managerial skills and experience in the Company, to set individual development plans and to plan managerial growth paths.
This process is a crucial opportunity for development: on the one hand it brings to light strengths, areas for improvement, motivation for individual resources to grow and increased self-awareness of one's own capabilities, and on the other hand it maps skills in order to put together effective development plans in terms of short/mid-term training activities, coaching and mentoring, and planning career paths and job rotation.
Our Talent Management process envisages People Development activities to enhance our human capital according to their competencies, motivations and potential, by defining professional growth paths and succession plans.
HR AND BUSINESS LINE: WORKING IN SYNERGY
People Development activities are conducted every six months and they begin with the HR and Business Line working together to map the population in the Company. The common denominator for every employee includes assessing the person's annual performance, their potential and the experience gained within the Company. The process pinpoints employees displaying the highest potential and expendability rate (High-Potentials) and aims at planning the development actions required to support their professional growth (e.g. job rotation, training, coaching, mentoring) and to steer their career path.
COMPETENCE ENRICHMENT & ENLARGEMENT
Specific career paths are designed for the High-Potentials, envisaging job rotations that enable the person concerned to achieve both horizontal career growth goals (acquire new knowledge and skills - competence enrichment) and vertical career growth goals (hold more complex positions with greater responsibility - competence enlargement). The career paths also envisage participation in national and international mobility schemes.
This activity is a fundamental tool for maintaining high levels of employee engagement and providing corporate managers with an active management tool to develop in-house resources as part of the organization's continuous improvement policy.
Career paths are discussed with the individuals concerned, to whom individual mentors are then assigned, usually a more experienced manager in the Company. The mentor's task is to assist the younger and less experienced junior employee in developing relational skills and setting up a professional network even outside his or her usual area of reference.
Fincantieri defines yearly succession plans for senior management positions, to ensure and safeguard company stability and continuous business success by systematically feeding on the Group's leadership pool. Succession plans aim at enhancing and retaining superior employees by means of professional growth paths to prepare potential candidates to fill key positions efficiently and disseminate the values and culture of the Company.