Fair and Transparent Performance Management
LG Energy Solution operates a fair and transparent performance management and pay system for all employees, including non-officers as well as non-sales department employees. Variable appraisal methods include continuous performance management, peer review, operation of Evaluation Talent Committee, which inform the provision of on-spot incentives (OSI) and regular personal incentives (PI). Further, it operates various capacity development programs, including job competency evaluation and consultation program for all employees and leadership survey and consultation program for managers.
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Performance Evaluation
Our performance management is conducted in a fair and transparent manner through the following process: setting individual goals that are aligned with organizational goals, constant performance management, and year-end evaluation. To facilitate the effective management of and support to of members’ performances, we offer regular training and guidelines for leaders on performance management
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Peer Review
LG Energy Solution holds peer-to-peer feedback sessions once a year to improve the objectivity and fairness of evaluations and develop the competencies of our members by focusing on their strengths.
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Job Competency Evaluation
LG Energy Solution conducts once a year job competency evaluation for all employees to enable them to strengthen their competency on their own and to manage human resources based on job competency. The results are reflected in the HR systems to inform selection process for promotion and training and development programs.
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Leadership Surveys
Leadership surveys are conducted to assist leaders in identifying their strengths and areas for improvement, as well as to provide practical support for their leadership development and performance management. We collect feedback from leaders, seniors, colleagues, and other members and provide coaching to those who need it to help them develop their leadership skills.
Performance-based Compensation Programs
LG Energy Solution operates performance-based compensation program. In addition to competitive base pay that accounts for individual performance, the employees are offered with various incentives including management performance incentives, personal incentives, and on- -spot incentives. This allows us to properly compensate our members for their contributions. LG Energy Solution complies with all compensation-related laws, including the minimum wage, and operates for all workforce without discrimination based on gender, nationality/ethnicity, religion, and social status.
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Management performance incentives
Rewarded based on the company’s management performance (financial and competitive performance)
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Personal Incentives
(PI)Rewarded differentially based on individual contribution
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On-Spot Incentives
(OSI)Rewarded immediately to individuals at the time of their contribution
Employee Benefits and Services
LG Energy Solution offers a wide array of benefits for our members’ happiness and well-being.
* enefits for all employees (Eligibility for benefits may vary depending on the employment type, including non-regular and part-time positions)
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Flexible Benefits *
Overview
Employees can redeem their benefit points for items within the four provided categories.
Categories
Health Care
Self-development
Leisure & life
e-Shop
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Financial aid for residential and livelihood stability
Financial aid for housing expenses
Financial aid for home purchases and rental deposits
Employees at Manufacturing Plants : provision of company housing and dormitories
Housing support for business sites out of the Seoul Metropolitan area
Financial aid for monthly rental expenses to new recruits in Ochang and Daejeon
Tuition Support
Tuition support for children in middle schools, high schools, and colleges
Congratulations and condolences allowance *
Allowances and paid leaves for family occasions such as own and family marriages, 60th birthdays
Small Wedding *
Allowance for domestic honeymoon expenses
Childbirth* / School admission gifts
Congratulatory gifts for childbirth
Congratulatory gifts for children entering elementary schools, middle schools, high schools, and colleges
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Medical and Healthcare *
Medical expenses *
Medical expenses covered for employees or families, spouse, children, and parents
Comprehensive Health Check-up
Medical examinations for employees (once a year) over 35 years old or over 5 years of employment and the spouse (every two years)
On-Site Health clinics/ medical centers *
Operation of health clinics and affiliated medical centers in domestic and overseas business sites
Promotion of employee health and primary care support
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Supporting compatibility in work and family *
Programs
Childcare leave (up to 2 years) and reduced working hours during childrearing
Paid leaves for the adoption of children
Paid leaves/leave of absence for fertility treatment
Maternal leave for regular check-ups during pregnancy
Other: Nursing rooms at all business sites
Daycare Center at Work
Operation of daycare centers for children of employees at domestic workplaces
Family Counseling Program
Counseling for schoolchildren
Marital and spousal counseling
Employee Stock Ownership Plan
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LG Enegy Solution’s Employee Stock Ownership Association was established on July 28, 2021, through a founding meeting attended and approved by more than half of the employees. It is administered for all eligible employees, including non-permanent employees, with the exception of those excluded by the Labor Welfare Framework Act such as registered executives, the largest shareholder, dayworkers, etc.
The ratio of association members to eligible employees was 99% as at December 7, 2021, and 82% as at December 31, 2022.
Retirement Support System
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In preparation for an aging society, LG Energy Solution supports retraining programs for employees who are involuntarily retired at the end of their tenure or are above the age of 50, in accordance with the Act on prohibition of age discrimination in employment and elderly employment promotion.