Industry: Financial Services
Function: HR; Strategic Planning
Location: Domestic US
This
regional financial institution was stalling in its growth, under
scrutiny from regulators (US Treasury Department, Office of the
Comptroller of the Currency) and faced take-over threats.
Working with the firm’s strategic planning and
organizational development functions as well as senior management, we
aligned the firm’s human capital “management systems” (business
planning & individual development planning, incentive plans &
systems, training and development offerings), and to link these systems
with business performance. We built a corporate-wide performance
management system that enabled comparison of business results across
the firm, establishing effective communications across internal
stakeholder groups. Every senior manager accountable for a business
unit or function (more than 30 in total) built business and personal
performance plans, was evaluated against those plans, was
incentive-paid based on performance, and had an integrated development
plan.
On the basis of this effective performance
management system, the organization was able to move out from beneath
regulatory scrutiny, and return to profitable growth.