2012 Sustainability Report

Our Workforce

Six Principles of “The Way We Work”

The Way We Work principles guide the way we do business.

Our corporate Code of Conduct is based on our corporate values: service, honesty, concern, courtesy, excellence and teamwork. We have developed six principles for managing our work and maintaining our corporate values. Since their launch in 2001, these six principles have been, and continue to be, the guiding standards for how we manage our work and how we conduct ourselves. They embody our corporate values and are essential to achieving the level of excellence we want in our corporate culture. Known as The Way We Work, these principles include:

Plan the Work and Work the Plan

The company’s future starts with each of us, and how we plan and manage every task, job, and project. This principle calls for us to think through a plan of action, commit to a timeline, track progress, monitor results throughout the work - not just at the end- and incorporate feedback and any lessons learned in future plans. We plan the work and work the plan in order to manage high standards of safety, quality, efficiency, customer service, and environmental responsibility.

Seek and Accept Responsibility

Seeking and accepting responsibility is about leadership at all levels, which requires employees to take initiative and demonstrate ownership and responsibility for all aspects of their work, including safety, quality, cost, and timeliness. This principle calls on us to broaden the view of the work that we do; to always consider the impact of our activities on other business areas, the company as a whole, and our customers. Seeking and accepting responsibility is about stepping up and stepping out of comfort zones, and coaching others who can learn from us. It is about working toward solutions rather than focusing on problems.

Communicate Openly

Communicating openly applies to our individual conversations, group talks, and our companywide communications. It is much more than just providing information; it is a commitment to openness, fairness, and trust, and to helping others understand the reasons behind our decisions. It’s about listening to others, questioning and clarifying what we hear, and respectfully challenging each other when we disagree or can offer an alternate view or solution. It’s also about being able to state, I made a mistake, and learning from that experience, in an environment that promotes open dialogue, honest feedback, and a questioning attitude.

Work in Teams

Working in teams is aboutworking together to reach common goals and objectives, such as providing excellent customer service. We recognize our interdependence and that we all share responsibility for our company’s success. Through teamwork, we value diversity and recognize the importance of the ideas, opinions, skills, knowledge, and experience of others. We help each other. We share the load and share the credit. Teamwork happens within local work groups, in cross-functional groups, and in our work with customers and other outside stakeholders.

Improve Continuously

Continuous improvement starts by recognizing that individuals are lifetime learners who must work hard to develop new skills, increase knowledge, and vary experiences throughout their careers. Through personal growth and development, we improve the results of our own work and the results of our business. Continuous improvement is also about investing time, effort, and resources now to work more efficiently and effectively in the future. It’s learning how to do things safer, better, faster, and less costly. We seek out and incorporate feedback and lessons learned into our work. We set clear and high expectations, and help each other to achieve our business goals.

Celebrate Success

Celebrating success is about recognizing and communicating positive results and achievements, and showing the value we place on innovation and creativity. We celebrate success formally and informally, highlighting the behaviors and accomplishments that are consistent with a culture of excellence.

During 2012, Con Edison continued its progress in cultural transformation. Particular emphasis was placed on three cultural imperatives: cost consciousness; openness, fairness and trust; and enhanced relationships with customers and other external stakeholders. To reflect this emphasis, a company-wide employee-communications campaign stressed the integration of the cultural imperatives with The Way We Work principles. The communication effort consisted of a company-wide poster campaign incorporating the three cultural imperatives as part of The Way We Work principles and demonstrating how we can integrate these principles into our work.

• Six Principles of "The Way We Work"
• Union Contract Negotiations
• Compensation and Benefits
• Supporting Strong Business Ethics
• Diversity and Equal Employment Opportunity
• Recognition
• Celebrating the Success of the Employee
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