Essay on Citibank Performance Evaluation

753 Words Nov 13th, 2011 4 Pages
Citibank : Performance Evaluation

“Performance management is about creating relationships and ensuring i l i hi d i effective communication Its about focusing on what organisations, managers and team members need to dt b dt succeed”
- Robert Bacal

Performance Management
Why do even best of great strategies fail?
A study of 275 professional portfolio managers reported that the ability to execute strategy was more important than the quality of the strategy itself (“Measures That Matter,” Ernst & Young, Boston, 1998) (“M Th t M tt ” E t Y B t In the early 1980s, a survey of management consultants reported that less than 10 percent of effectively formulated strategies were implemented successfully (Walter Kiechel, “Corporate
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Objectives

Measures

Targets

Strategy Implementation

Objectives

Measures

Targets

Target customer Segment relevant to branch strategy

Objectives

Measures

Targets

Risks and Control Internal audits
Targets Objectives Measures Targets

Measures

People Development

To ac e e ou o achieve our strategy, how will we sustain our ability to change and improve?

Objectives j

Measures

Targets g

Performance Management
Involves establishing clear expectations and understanding about: The team member employee's essential job functions How the team members job contributes to the goals of j g the organisation What it means, in concrete terms, to do the job well How job performance will be measured That barriers hinder performance and how they can be p y minimized How the member and the team leader will work together to improve the member’s performance

Performance Planning

What do we want to be or where do we want to be? How will we get there?
P E R F O R M A N C E M E A S U R E

What do we need to do, from Financial perspective, to get there? What do we need to do from Customer perspective, to achieve our financial objectives? What Internal processes do we need to follow, to achieve out customer objectives? What capabilities do we need to develop in our people to achieve financial, customer & Internal process objectives?

P E R F O R M A N C

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