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.