Performance management
FOR THE FUTURE
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12
special
WHAT'S News Issue 11 December 1997
methodology (netting
centralized facilities)
efficiënt use of capital
resources
With a list of 'To do's'
this long, Di Stefano and
his still to be recruited
team will have their
work cut out. But their
stragegy is already on
paper and is
comprehensive in
leveraging off existing
relationships within the
Rabobank Group,
including corporate
finance and private
banking. It also involves
becoming a 'skillful
player' in the Euro and
emerging markets,
although Di Stefano is
quick to point out that
the former's introduction
may mean less
currencies, but it does
not mean less volatility.
A knowledge-driven
approach is also
included as crucial to
success in developing
into what the FX people
see as a client-driven
business focused on
global institutional
investors and large
corporates.
Teym Eliazov - Global
equity derivatives (GED)
Eliazov's global equity
derivatives mandate is to
trade OTC and listed
Teym Eliazov
equity derivatives
through retail and
(worldwide) exchange
distribution channels.
building up their P/L. This is
clearly a principle issue, but
much of the discussion related
to how the integration - on
whose necessity there is real
consensus - can be achieved in
practice.
STRAIGHT
TALKING
The argument went back and
forth on definitions of
communication and how it
could be improved. How we
can assimilate comparatively
large numbers of a rather
different breed of banking
professionals into the existing
organization in the best
possible way and without
emerging at the other end
with a 'them' and 'us' culture.
Michael Ice asked for time.
'We're very, very new to
Rabobank,' he said, 'take the
Gijs van der Scbriek
time to get to know us better
and if you do, you'11 see our
commitment is as genuine as
your's.' But he also asked for
straight talking: 'Even before
we came over to Rabobank,
we talked for months about
how to construct the
universal bank of the future.
One thing is sure. You can't
create it without change.
Come on guys, you know that
as well as I do. And having
been here for all the
presentations, don't say what
we want to do is not clear.
Say you don't like it. But
don't say it's not clear.'
KNOWLEDGE BASED
It was perhaps Gijs van der
Schriek who expressed most
people's primary concern.
'15 years ago,' he said,
There is a video film with
highlights from RICO - it will be
sent to all international offices
in early December.
human resources
The implementation of a comprehensive performance management
system has long been awaited. At RICO a whole morning of the
conference was reserved for the presentation and explanation of a
Towers Perrin basic system which has been tailored to fit Rl needs.
RI's Flip Goudsmit provides a brief outline.
If Rl is to achieve its core
ambition of customer focus
and value,then a cultural shift
within the organization is
essential to realize the kind of
long-term cliënt relationships
which will carry us well into the
21 st century. In order to create
an internal structure which can
help deliver the necessary
performance, a clear line of
sight between what we do as
individuals and the realization
of overal business goals.The
key here is the so-called
performance management.
Each person needs clear roles
and objectives so that progress
can be measured, training can
be planned and development
needs met.Working with
Towers Perrin, a recognized
authority in this field, Goudsmit
and his people have come up with
the Performing for the Future
system (PFF).
COMMON LANGUAGE
The fact that explaining the ins
and outs of the system took a
whole morning led to some
typical grumbling that it will be
too complex for practical
application.'Yes,the system is
quite complex,'confirms
Goudsmit, 'but l'm not sure that's
a bad thing. It would be
unrealistic to launch something
so comprehensive without
accepting that people need time
to get used to it.What we are
talking about here is not simply a
basic appraisal system, but a
common language covering
roles, standards, performance,
competence. We're talking about
a system that will give us the
common vocabulary to generate
the performance to deliver our
customer focus strategy. If you're
planning to learn a new
language, you don't expect to be
fluent overnight. It's the same
with PFF.'
ROLE PROFILING
While the conference pack to
support Goudsmit's presentation
was by far the thickest of the
whole conference, it was laid out
in a clear and concise fashion,
making it easily accessible to the
interested reader.The