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Development of performance management
The fundamental values of our bank, such as customer focus, professionalism, quality, mutual respect, initiative,
teamwork and integrity, which have been laid out in our Code of Conduct, have been successfully maintained
in practice for many years. They continue to be the foundation of our business and ethical behavior. However,
the digital transformation and the requirements that come with it also create the need to place certain cultural
elements in a new general context. Therefore, individual responsibility remains a key part of our corporate culture,
which should be further strengthened with the aim of promoting the new requirements for reorganizing the company
so that it becomes a flexible and innovative organization. In order to contribute to and strengthen this process of
change, the performance management model has been changed and developed in a number of ways.
The details have been set out in the relevant group policy “Performance Management RBI Group” and in the
supplementary document “The Book of Group Performance Management” in 2017. These form the framework
for regional guidelines, which are adapted to the requirements of individual countries. Among other things, this
included the findings from the group-wide analysis prepared in the previous year and the findings from the initial
implementation that was incorporated there. Furthermore, group-wide obligatory minimum requirements are set
out, which form the framework for regional implementation projects.
The following elements in particular will be promoted in the future within the framework of the performance
management process: The possibilities for employees to collaborate should be strengthened by giving them a
more active role in performance management. An essential aspect of individual performance for employees
concerns understanding the corporate purpose behind the objectives. Therefore, we would like to improve our
employees’ understanding and knowledge about the importance of their activities for the group as a whole. HR
development is one of the most important focal points of performance management. Focused HR development
can result in positive career development and through that, sustainable performance. Expanding and deepening
the feedback culture in all directions is particularly important in our performance management system. The feedback
should 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 be given in real time and hence continuously,
rather than just later or delayed at the end of the year.
These requirements have already been implemented by some network banks utilizing new technologies. The
performance management platform at Raiffeisen Polbank has been modernized so that it is now possible to
make adjustments to targets directly and to provide feedback in real time. In 2017, AO Raiffeisenbank Russia
further improved and expanded its feedback tools. Among other things, a new “Real Time Feedback” tool is
being used online. Every employee can use this tool to give and receive feedback at any time.
Our strategic approach to training and development
Our centralized and decentralized training offers extend to three main areas: Leadership development, professional
development and personal/soft skill development.
The training goals for leadership development are derived from our group-wide “Leadership Training Architecture”
for all management levels. These in turn are based on a series of key competences for managers that have been
defined by the Management Board in line with our corporate values. All first-time managers must complete a
standard development program that qualifies them for the new role and gives them the tools needed for managing
employees. In addition, development programs are offered for talented managers and successors who have
been identified for executive management positions in order to maintain the talent pipeline. Our group-wide
executive development program is available to our top executives (Management Board and heads of larger
areas), the contents of which are primarily of a strategic nature and developed in strict consultation with the
Management Board.
The development of professionals (non-management staff) is based on training goals that are derived from the
strategic priorities in coordination with the Management Board and the heads of the business areas. Current
focus areas are risk management, financing, treasury and financial markets, operations and project management,
retail business and IT. For large-scale training initiatives, objectives and key performance indicators are regularly
Raiffeisen Bank International | Sustainability Report 2017