Assessing Nuvocargo's Impact - Driving Performance and Rewards
We believe in continuous feedback (Say It!) and rewarding our hardworking Nuvos who make an outsized impact. In June, we conducted our Impact Assessment, which resulted in specific and actionable feedback and feedforward, as well as compensation adjustments and promotions. Join us in this blog as we explore Nuvocargo's philosophy of developing, recognizing and rewarding our amazing team. Get ready to discover how we create a culture of appreciation and excellence at Nuvocargo!
During our impact assessment, we carefully evaluate the performance of each Nuvo by assessing two important aspects: What they have achieved and How they have made an impact.
For the What factor, we measure the significance of their accomplishments vs the expectations for their role. This helps us understand the tangible outcomes of their efforts vs the goals they set with their manager.
When it comes to the How, we assess how they have demonstrated the values and competencies to achieve their goals. This sheds light on the approach they take in their daily work.
We believe its important for the Nuvo to do a self assessment in order to reflect on the past 6 months worth of impact and so that the Nuvo and Manager can discuss the points where they disagreed and start the next cycle off aligned on where the bar is, where the Nuvo is excelling and where the Nuvo needs to focus to further develop.
To ensure fairness and transparency, we have a calibration process where the Nuvo's manager collaborates to validate the scores and ensure accuracy in reflecting the actual impact achieved. This guarantees equal treatment between different teams and functions to promote the fairness of the process.
We use a rating scale from level 1 to level 5 to measure both the What and the How.
Pay for Performance
We believe in rewarding Nuvos who have made an outsized impact with additional rewards. To determine the Pay for Performance rewards, we carefully considered how the labor market has moved in both Mexico and the USA. This helped us calculate a base multiplier (X) for this salary increase. Using this multiplier, we created a table that helps us determine the appropriate increase for each Nuvo based on their impact assessment results. This ensures fairness and transparency throughout the program.
We are thrilled to announce that 23 of our Nuvos have achieved remarkable success and earned well-deserved promotions. Promotions were evaluated based on two factors:
1) The Nuvo’s Performance: They should be consistently exceeding expectations
2) The Business Case: The need for the role with an increased scope and impact has a clear ROI for the business
The exceptional performance of these 23 Nuvos has played a vital role in propelling us towards our company's goals. Let's take a moment to celebrate and recognize the hard work and dedication these Nuvos have demonstrated. Their achievements highlight our commitment to nurturing talent and taking on challenging endeavors that contribute to our collective growth as a team.
In summary, at Nuvocargo, we value and reward our hardworking Nuvos. Through our Impact Assessment, we measure their impact, recognize their achievements and give clear feedback to continue developing. The Pay for Performance program ensures fair compensation based on results. We are proud to congratulate 23 Nuvos on their promotions, as we as their outstanding contributions to Nuvocargo. We foster a culture of appreciation and personal development, empowering our team to overcome challenges and thrive. Together, we are shaping a brighter future for Nuvocargo.