Deutsche Bank’s approach to performance management comprises three main steps: defining expectations and setting objectives at the beginning of the year, holding regular feedback conversations throughout and reviewing performance at the end. In 2016, 83.9% of employees in scope set objectives during the first quarter, with 98.1% of year-end performance reviews completed.
With the introduction of “Total Performance” in 2017, Deutsche Bank takes a more holistic approach to developing and managing people and their performance, with one fully integrated process capturing employees’ skills, experience, behavior, contributions, potential and development needs. As the bank seeks to deliver on its strategic aspirations, this is of critical importance.
During 2016, a number of introductory training sessions were held for managers to ensure they are fully equipped for driving and taking responsibility for their team’s performance in line with the new approach for 2017.
Other steps towards Total Performance were also taken. For example, the bank already modified its approach to performance conversations throughout 2016. Instead of only one mandatory formal mid-year review, all managers and employees were encouraged to hold more frequent, including more informal, performance conversations at regular intervals, for instance once per quarter. These conversations may take place as part of any regular one-on-one interaction between manager and employee and constitute a key feature of the new approach.