89 GRI Index and Assurance statement Engaged citizen Fair partner Responsible banker Human Capacity Report Sustainability management Overview Foreword Development of Performance Management The new Performance Management model for group executives (top-level management staff), which was developed in 2015, was successfully implemented in 2016. Among other things, a clear objective structure similar to a balanced score card approach was introduced and coordination between head office and the Group units improved. The focus here is on a balanced relationship between short and long-term as well as local and Group objectives. The competence model was also renewed, and dialog as well as coaching on selected management competencies of relevance to the Group’s success was established on the basis of 360-degree feedback. These modifications were transferred to the IT system by implementing a new module for 360-degree feedback in the HR software. Since 2016, 360-degree feedback has constituted an integral component of the IT-supported Performance Management process for Group executives and is conducted annually. This enables our Group executives to receive more feedback about their social competences. 2016 was dedicated to a group-wide project with the goal of realigning the Performance Management process for all other employee groups in our company. An international team of twelve employees from eight different network banks drafted the basic framework of the new Performance Management process for the RZB Group using the ‘design thinking’ method. The guidelines, the new process and its basic components were presented at the end of the year. The following elements should be particularly promoted in the future within the framework of the new Performance Management process: One of the most important aspects of our Performance Management system is about expanding and deepening the feedback culture in all directions. In addition, the feedback should also not only be related to the past but also directed toward the future by offering guidelines on how to act. Another core element is the changed time frame. Feedback should in future be given in real time and hence continuously, rather than just ‘belatedly’ at the end of the year. The possibilities for employees to collaborate should be strengthened by giving them a more active role in Performance Management. HR development is one of the most important focal points for the future of Performance Management. Focused HR development can result in positive career development and through that, sustainable performance. An important aspect of individual performance for employees concerns understanding the corporate purpose behind the objectives. That is why we want to reinforce our employees’ understanding of how their activities fit into the overall picture. New approach to Performance Management
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