Performance Appraisal Framework for conglomerate’s subsidiaries

The Human Resource Team of a Conglomerate required a standardised approach for their Performance and Compensation program for one of its SMEs with up to 50 employees.

Industry

Financial Services

Capabilities Applied

People Change and Transformation

Function Accountability Charts + Productivity Drivers

Business Analysis

Situation

The Human Resource Team of a Conglomerate required a standardised approach for their Performance and Compensation program for one of its SMEs with up to 50 employees.

Complication

The function found the Corporate Framework to be cumbersome and not optimal for their smaller sized businesses.

Action

We designed and implemented a lightweight Performance Appraisal Framework that maintained the principles of the wider framework and at the same time, allowed the function to move quickly, respond faster to the changing dynamics of smaller businesses and maintain a fair structure across these subsidiaries.

Outcome

Having established the framework for 12 months, it came to be recognised as a benchmark of excellence for the group’s smaller businesses. Employees expectations on performance bonus and salary increases within those businesses are now fairly managed, leading to a more sustainable and transparent environment.