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2016 HRM Impact Award Honorable Mention

 

PROJECT TITLE

Personalized Performance Management

PROJECT SUMMARY

Last year, Finansbank focused on a need of radically changing its performance management system increasing productivity and satisfaction among company. Having 75,2% of its employees Generation Y’ers, and foreseeing 25% of its management team to be of Y generation 5 years later; it became a critic al success factor to build up the systems that would raise today’s employees as future’s managers in an environment where more ready ones win and more adaptive ones stay in the game.

With this need on hand, Finansbank designed Integrated Performance Model aiming an increase on employees’ performance, productivity and engagement and having a positive effect on turnover rates.

Integrated Performance Model consists of three revised processes: Target Setting, Behavior Evaluation, and Score Intervals. In this system, each employee is expected to choose 2 competencies “strengths” and 2 competencies “consider” and only these 4 chosen competencies are to be focused on during the feedback meeting. Employees working in different business or even in the same business had the chance to be assessed through totally different competencies.

Company has several positive behavioral, business and financial results after Integrated Performance Model implementation:

  • Increase on Engagement Score (9 points)
  • Increase on Satisfaction (18 points)
  • “Performance Management” having the biggest increase with 10 points increase
  • 11% Increase on number of employees showing performances above expectations 
  • 12% Increase in performances of managers
  • 2,5% Decrease on turnover, 4% decrease on turnover (branch employees)
  • An average of 16% (biggest 20%) increase on company’s business performance