Human Capital Management: Performance & Succession
Our performance management and succession strategy is designed to ensure the consistent alignment of the company, cultural and business unit goals that we believe help enable our company to create shareholder value over time. Through our annual performance management process, managers assist their direct reports with setting and monitoring goals, developing a plan to achieve those goals, evaluating progress against those goals and discussing opportunities for improvement throughout the year. Managers are expected to complete a mid-year and year-end progress update for each of their direct reports. This includes a meaningful conversation with each employee to discuss what went well and what can be improved.
We also conduct a comprehensive annual talent review, which includes succession planning, to identify and prepare talented employees for future leadership positions. Each line of business identifies talented employees and succession candidates for targeted development and advancement opportunities with individualized action plans. This talent review process culminates with the CEO and his direct reports meeting to review succession plans for key positions. In addition, the CEO meets with the Board’s Nominating and Governance Committee and the full Board of Directors to discuss succession-related matters at least once a year.
More about human capital management
Approach
We recognize that maintaining our talent advantage requires a sustained investment in our people. When we deliver on our promise to our employees and their families, we are able to deliver on our promise to our customers and drive shareholder value.
Culture
At Travelers, our culture is the foundation of our business and has driven our success for decades.
Employee experience
Our employee experience program centers on gaining understanding of what drives performance and supports business priorities.
Learning & development
Our commitment to learning and career development is rooted in our belief that for us to be successful, we must provide our employees with the skills and capabilities to enable them to be successful.
Talent acquisition
Our recruiting efforts are designed to help us attract and retain top talent from a broad pool of candidates.
Total rewards
Our compensation and benefits programs are designed to attract, motivate and retain high-performing employees and to help employees be healthy and productive in all aspects of their lives.
Illustrative initiatives
Making Mental Health a Priority
Shattering the Stigma
Supporting Future Leaders in Insurance
Travelers Investing in the Next Generation of Talent
Travelers Institute®
Travelers Institute University Tours
Committed to Military Veterans
Supporting Those Who Serve
Girls Who Code
Growing Tech Talent
