Policies and Procedures
Corporate policies provide guiding principles and rules for the entire organization, regardless of location. Corporate Standard Operating Procedures (SOPs), on the other hand, provide rules on a specific subject or sets of instructions on how to perform a function with the objective to ensure the standardization of tasks and processes within the organization. Policies have a broad and global application, while SOPs can be applicable to a specific geographical region, business unit or corporate function.
Our Policy Oversight Committee, which establishes good practices in policy governance and assists in the review process for all new and revised policy documents, meets on a monthly basis to review new policies and procedures being put forward.
The Policy Oversight Committee consists of the Policy Coordinator and representatives of each corporate function: Corporate Risk Management, Ethics and Compliance, Finance, Global Human Resources, Integrated Management Systems, Internal Audit, Legal Affairs, Marketing, Strategy and External Relations.
Some of the policies, SOPs and guidelines providing rules and instructions to employees with respect to our ethics and compliance commitment are the:
- Antitrust and Competition Policy;
- Political Contribution Policy;
- Business Partners SOP;
- Donations, Sponsorships, Employee Involvement and Corporate Membership SOP;
- Gifts & Hospitality SOP;
- Hiring Current or Former Government Officials or Their Immediate Family Members SOP;
- Conflict of Interest Disclosure Guidelines; and
- Accurate Record Keeping Guidelines.
Number of new policies issued in 2015: 10
Number of new SOPs issued in 2015: 30
Areas affected by the new policy documents: Ethics & Compliance, Finance, HR, Legal, Integrated Management Systems, Communications