Create a New Company Culture
Perhaps the most effective way BP has recovered is establishing a new culture revolving around the central tenet of safety. BP has implemented new, central values (safety, respect, courage, excellence, and one team) that are crucial to explaining the companys new ideology.
It has instilled these values by embedding them within the company´s processes via training, promotion, hiring etc.
Employees have an incentive to follow these values because BP has put in place a remuneration structure that rewards individuals through an assessment of how BP works as at a group, team, and individual level in accordance with its values. Also, improved alignment between rewards and performance by rewarding those individuals who best follow and exemplify BP´s values of safety and “taking the long term perspective” incentivizes adherence to company values .
BP´s values are explained through its code of conduct which explicitly states some of the ways its employees are expected to act. To make sure each employee is familiar with the code, BP conducts refresher sessions for employees and every employee must go through a code of conduct certification process each year.
Of course it is impossible to state every possible action an employee should take when confronting a situation, therefore employees are always expected to always follow the companies values when making a decision.
The company does not stop with itself when implementing its values and expects that all its contractors adhere to the same code of conduct.