Page 65 - Demo

HUMAN CAPITAL DEVELOPMENTValeura believes that intellectually challenging work fosters engagement and drives motivation. The Company invests in training and development programmes to equip employees with the skills to navigate both current and future business challenges while supporting their professional growth. All of Valeura%u2019s staff complete annual Individual Development Plans, which identify learning needs (including formal training and coaching) as well as key job assignments to foster the individuals%u2019 ongoing professional development. These plans are agreed with supervisors and are integrated into Individual Performance Contracts, which establish key performance indicators, and form the basis of the individual%u2019s annual performance assessment. In this way, the individual%u2019s personal objectives are aligned with the Company%u2019s goals, thereby creating a culture of growth and accountability.PERFORMANCE APPRAISALValeura%u2019s Performance Appraisal system is designed to align individual contributions with corporate goals, fostering a culture of continuous improvement and personal development. At the beginning of year, executives establish an annual corporate scorecard that outlines key objectives, which are then communicated to all staff. Each department translates these corporate goals into specific departmental scorecards, allowing every employee to set their Key Performance Indicators (KPIs) in collaboration with their supervisors. This process not only ensures alignment with our corporate vision but also emphasises personal development, as each staff member is encouraged to include a personal development action in their KPIs. Throughout the year, employees engage in official reviews with their supervisors to assess progress and make necessary adjustments, culminating in a comprehensive year-end performance discussion.The performance rating process involves supervisors providing provisional ratings based on individual contributions, which are then reviewed and finalised by executives. This structured approach ensures that performance ratings are fair and reflective of each employee%u2019s efforts. The pay-for-performance compensation system rewards high achievers, with performance ratings influencing bonus and salary adjustments. VALEURA ENERGY INC. 065