Dear colleagues,
Could you please advice any resource(or personal practice), where I can find best practice on rewards based on evaluation. I am HR at the bank, and we have loan officers who get bonuses for loans they sell. But that creates many problem loans and a bad competition between employees. Thank you in advance.
14th August 2014 From Armenia, Vanadzor
Yes,
If you are not in hurry and want to develop robust reward calculating and performance system. I suggest please go for SEI institute KRA i.e. Key Result Area.
Basically I developed a detailed specification based on KRA of SEI five levels. But you can use KRA to judge performance of each employee and it would also help you resolve conflicts between them.
Design the KRA or each employee and ask them to fulfill criteria and evaluate on them. Very widely adopted performance management system even by large International MNCs.
You will easily find information on web about it.
umalme
14th August 2014 From India, Delhi
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