Financial Sector
Performance Management
“
The realignment of our KPIs, combined with the introduction of brave feedback sessions, has transformed how we manage
performance. Our leaders are now equipped to guide and develop their teams effectively, and the regular feedback has created a
culture of continuous growth. We are already seeing the positive impact on both individual performance and overall business growth.
Chief Human Resources Officer
To boost a higher level of productivity, the bank understood that the alignment of Key Performance Indicators (KPIs)
used to assess employees, with the organisation's four strategic annual objectives was key to success. This is important
to ensure there was no disconnect between employee efforts and the bank's overall growth targets. Additionally, the organisation
saw a need to scale the structured approach for managers to provide developmental feedback to their teams, which inspires discovery
of opportunities for improvement and employee growth.
A three-day workshop was conducted with the entire top management team and first-level reports to address
the misalignment between KPIs and the company's strategy. The solution encompassed several key initiatives:
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Defining Strategic KPIs:
KPIs were redefined to ensure direct alignment with the company's four strategic annual objectives. This allowed
for a clear and measurable link between individual performance and the bank's overarching growth targets.
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Introducing Shared Accountable KPIs:
Shared accountable KPIs were introduced to foster cross-functional collaboration, ensuring that different
teams worked towards common goals that were critical to the bank's success.
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Cascading KPIs:
The new KPIs were cascaded down from top leadership to all levels of the organisation. This ensured consistency
in performance measurement, with every employee contributing to the same strategic goals.
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Training on Feedback and Development:
On the third day of the workshop, leaders were trained on how to conduct brave and developmental feedback
sessions with their teams. These sessions equipped leaders with the skills to provide honest, constructive
feedback that focuses on growth and development, setting their staff up for long-term success.
- The realignment of KPIs ensured that all employees were measured against performance indicators that directly supported the bank's four strategic objectives.
- Shared accountable KPIs strengthened cross-functional collaboration, ensuring teams worked cohesively towards the bank's key goals.
- The introduction of regular feedback sessions has improved employee development, with leaders actively supporting their teams through structured, constructive feedback.
- Employee engagement and performance have improved, with a noticeable increase in goal attainment and a stronger connection between individual efforts and the bank's growth.