Assessment of potential and selfnomination Talent management conferences Development of highpotential employees Continuous review, feedback, and development January February March April May June July August September October November December Capability Shift People, machines, and industrial processes are intelligently networked. Digitalization has already changed industrial processes and continues to develop at a rapid pace. This brings with it enormous opportunities and possibilities – but also risks and challenges. The aim of the Capability Shift strategic initiative is the opportunity to position future-relevant expertise successfully and sustainable within the company. The acquisition of new skills in the following areas represents the strategic range of topics relevant to Festo in this respect: software, artificial intelligence, and the sale of electronics. Customized qualification concepts enable employees to develop in the digitized world of work. One example of this is the global rollout of a qualification program in sales for electric automation. Here, approximately 2,500 employees are prepared for the future in several modules and webinars. The collaboration with Esslingen University on the in-house Festo- certified software engineer course and a qualification program for product security officers and security experts are further examples of how the Capability Shift is designed. GRI 404-2 In short 90-minute sessions, ten meetings were held in Germany on a wide range of topics and issues related to leadership. Five meetings took place in an international context. In total, several thousand managers took advantage of the offer with great interest and commitment. What makes it so special is that all managers (across company levels, departments, and countries) can take part. The format thrives on the exchange of ideas between managers and on the input of our external training partners. GRI 404-2 360° feedback In 2023, the process of 360° feedback in the international arena (excluding Germany) was completed. Over the past two years, almost 10,000 feedback forms have been submitted by employees, colleagues, and direct managers. Around 1,300 international managers took part in the 360° feedback process. With these and other measures, we were able to contribute to the development of many managers in 2023. Now we need to keep our efforts going in 2024 and continue to view the development of our managers as a strategic priority. Well-trained managers are an important prerequisite for the long-term success of our company. GRI 404-3 Global talent management The aim of the talent management process at Festo is to identify high-potential individuals and develop them in a targeted manner. This ensures that we are able to fill key positions quickly and promote the high level of commitment of our high-potential employees. In the annual cycle, the performance and potential of the employees are discussed in meetings according to uniform criteria. The meetings will initially be held internally and then cross-departmentally. As part of regular employee appraisals, a tailored development plan is jointly drawn up and bindingly defined in order to ensure that the individual career goals are in line with the strategic corporate goals. This comprehensive approach to Global Talent Management underscores our commitment to a sustainable future and helps to secure the innovative strength and competitiveness of our company over the long term. Leadershift@Festo: the journey continues Leadership shift, or “leadershift,” is an important area of activity in terms of our corporate strategy. With the aim of increasing management maturity at Festo globally, we implemented various measures in 2023 and made further progress in the development of our managers. Leadership development programs In 2023, we were able to complete the design and pilot phase of the First Leadership Level Program and start the global rollout. This is a program for the first management level, which extends over a period of 12 to 16 months with a combination of virtual and in-person modules and is geared toward Festo leadership expertise. The Advanced Leadership Program is aimed at mid-level managers. This was also designed and piloted in 2023 and will be rolled out across the board in the coming years. The content of the course is based on the Festo leadership skills and also lasts for 12 to 16 months. The Leadership Essentials event series is enjoying great popularity. This is a virtual event that took place in 2023 both in Germany and internationally. GRI 404-2, GRI 404-3 Capability Shift: New technologies require new job profiles. We support our employees through the digital transformation with tailored programs. Continuous development of high-potential employees 96 97 1. Blue World 2. Strategy and Management 3. Climate Protection and Resource Efficiency 4. Technical Education 5. People at Festo 6. Ethics and Governance 7. GRI Index 8. Report Profile Festo SE & Co. KG Sustainability Report 2023 Festo SE & Co. KG Sustainability Report 2023
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