Living, learning and leading by our values

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Chapter 3

Living, learning and leading by our values

It’s no coincidence that values and value are so similar in English. At Perstorp, three core values guide us in everything we do so we can deliver the highest value across all areas of our business. Simply put, we believe in doing right. We believe in always keeping our promise. And we believe if it matters, make it better.

Responsibility - Do right

Safety is our utmost responsibility. As KPIs for Perstorp’s safety performance went in the wrong direction in 2016, we took action to establish a clear safety step-up plan for 2017. Most incidents have a human root so our focus is first and foremost on behavior – making safety the instinctive, everyday habit in all actions. Our safety targets are demanding, yet fully in line with top-quartile performance in our industry. And only 100% achievement will satisfy us.

From a sustainability perspective, our impact on the total wellbeing and development of our employees, associated partners and the communities in which we operate are also significant factors in measuring our success. A cross-functional team undertook a high-level analysis during 2015 and 2016 to determine what dimensions are most relevant to our stakeholders. The outcome was a strong set of links between our vision, the markets we serve and the United Nations Global Compact’s Sustainable Development Goals (SDGs). We will develop these links further in the coming year.

Living, learning and leading by our values

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Chapter 3

Living, learning and leading by our values

Reliability - Keep the promise

Reliability is foundational at Perstorp because it’s the enabler – for innovation, quality, efficiency, sustainability and more. In 2016, we took important steps to increase benefits for our customers in terms of supply security. Thanks to a Sales and Operations Planning process (S&OP), we improved the quality and reliability of our forecasting numbers. Another tangible benefit is new digital transport management bookings.

We also implemented a new plant performance measure for Overall Equipment Effectiveness (OEE). This global data measurement will help us understand underlying reasons for unused capacity in our plants and give a comprehensive picture of any limiting factors for each one of our plants. The data analytics will also go into the S&OP process to better understand where we have capacity available worldwide.


Living, learning and leading by our values

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Chapter 3

Living, learning and leading by our values

Focused innovation - Make it better

Innovation in 2016 was instrumental in solving several business issues, enabling new opportunities and supporting our long-term ambitions. Highlights include:

  • all-time-high patent generation with 11 new patent families filed
  • ligand degradation in the Valerox complex
  • many promising research collaborations, including new hot-melt adhesives based on Capa™ Lactides

Yet, innovation is about more than inventing new products. It’s also about making the small things that matter a little bit better every day. Perstorp Performance System (PPS) is our purposeful way of working to ensure continuous improvement. With PPS, all employees work every day to improve based on what’s important for the people their work serves. Focused innovation means we continuously:

  • increase the value of what we deliver, whether it be to customers, colleagues, partners or the community
  • reduce resources spent (time, money, materials) for things that do not provide value

This outside-in perspective for creating value depends on us acting on all our core values in harmony. Innovation could simply be done for innovation sake, within our own bubble. But that’s not where real value is. To do right, to keep the promise, and to make better what matters most, we always listen to the market and our customers first.

Sustainability

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Chapter 3

Sustainability

Sustainable business

We know the actions we take today, in every aspect of our business, affect future generations. That’s why Perstorp regularly examines, follows up and reports on environmental impact. We work constantly to reduce negative effects on the environment in accordance with the company’s commitment to continually improve the sustainability of our business.

Our people

Sustainability starts with our employees as a key stakeholder group, and we conducted many initiatives during 2016:

  • PMD process – annual employee follow up and assessment according to 10 defined behaviors built on our core values of Reliability, Responsibility and Focused Innovation, along with matters of work-life balance and development activities
  • Talent Management Process – future leaders completed a four-day Leading Change Program in 2016 together with the Perstorp Leadership Team, in all approx. 100 people.
  • Succession Planning Process – kicked off in 2016 by identifying critical roles in the organization; next step is analyzing the essential skills for each critical role and identifying both short-term successors and long-term successors in alignment with the Talent Management Process
  • Leadership Academy program – launched as part of Leading Change, along with continuing our Process Academy
  • Mini employee survey – results showed small changes compared to results in 2015; continued high response rate of 92.5%
  • Organization and Social Work Environment – training for 89 out of 93 managers in Sweden
  • Perstorp Gymnasium – expanded program to also educate and train electricians and automation technicians
  • Sustainable HR and Diversity – project kick-off aiming to clarify for employees our stand-point on sustainability from company, leadership and employee perspective

Our company

We renewed our commitment to the UN Global compact, supporting the 17 new Sustainable Development Goals. Among these goals, we’ve chosen a few as benchmarks for Perstorp’s long-term sustainability work, driven by the nature of our business and future customer needs. Based on this work, Perstorp will announce new, company-wide sustainability goals in 2017, which will lead to further alignment of our product portfolio with sustainability ambitions.

Other highlights for 2016 include:

  • Product Sustainability Index – 60% or our products are now benchmarked according to this metric, which uses product lifecycle assessments, guiding us toward specific improvement activities
  • Energy use, water consumption, wastewater, GHG emissions and waste – showed continued performance improvement in 2016 compared to the two prior years
  • Life-Saving Rules – roll-out of these rules in 2016 as part of our continued implementation of Responsible Care methodology throughout the organization
  • Code of Conduct – updated and re-implemented in nine local languages

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