Whether a colleague has gone above and beyond on a special project or makes our company’s values a consistent hallmark of their work ethic, CVS Caremark’s colleague recognition program ensures that our people feel valued, empowered and instrumental to our collective success.
Each year, we recognize our company’s best and brightest with the CVS Caremark Paragon Award. This award, the highest honor a colleague can achieve within our company, is reserved for individuals who make remarkable contributions on the job or in their community. Our “Paragons,” as they are called, have embraced their role in helping people on their path to better health and inspire others to do the same. The example they set each day helps our entire organization succeed. In September 2011, nine colleagues were recognized with the CVS Caremark Paragon Award – two from our PBM division, six from our retail store operations and one from MinuteClinic. In addition to these national winners, 16 colleagues were honored with a prestigious Area-level Paragon Award, along with 700 retail Region and District winners. In total, our nearly 800 Paragon winners represent the top one percent of those eligible to receive the award.
The company recognizes noteworthy accomplishments by non-store colleagues through the prestigious CEO Award. In 2011, the CEO Award was given to 14 colleagues for leading successful major initiatives, teamwork, generating new ideas, increasing revenues and demonstrating leadership and commitment to our purpose and values. The selection process is rigorous and includes input from the individual’s supervisor, our management team and the CEO.
Announced on a quarterly basis, the CVS Caremark Breakthrough Awards recognize those colleagues who not only deliver top-notch results and execution, but in particular those who are innovative in their approach. As our company strives to reinvent pharmacy for better health, innovation will ultimately be the measure of our success. As such, our Breakthrough Award winners – numbering about 50 in 2011 – are helping prepare our company for the future, and setting an example for each of us to follow.
Values in Action
In 2011 CVS Caremark finished the development phase of a brand new recognition program designed to complement our strategy to reinvent pharmacy with the purpose of helping people on their path to better health. Specifically we want to recognize and reinforce outstanding colleague behavior that demonstrates our company values: innovation, collaboration, caring, integrity and accountability. The Values in Action program, launched in April 2012, is an online rewards system through which colleagues can recognize each other and leaders can recognize any colleague across the company and grant them points that are redeemable for merchandise, travel, vouchers, gift cards or charitable donations.
Colleagues will also be able to nominate one another for a new Values in Action Breakthrough Award. The new intranet-based system will have a dedicated Values in Action home page that will display a real-time newsfeed of all recognition posts and provide visibility to all of the great things CVS Caremark colleagues do. Additionally, it will contain a “leader board” which will prominently display the names of the top recognized and the top recognizers.