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Our performance Management Framework (PMF) includes the use of performance scorecards and quality gates. Our performance scorecards aim to align employee performance with business strategy and to provide employees with greater clarity on performance outcomes.
Our performance management framework includes:
1. Scorecards: supported by scorecard development workshops.
2. Mandatory Individual Development Plans (IDPs): assist us to develop our people to their full potential and to ensure they have the skills and capabilities to perform their roles.
3. Quality gates: to ensure that our behavioural and compliance requirements are met. These take into account how our people achieve results, not just the achievement itself. Completing compliance training is a requirement and is monitored centrally through a network of compliance coordinators. Mandatory compliance learning is also in place for all employees. This is now largely completed and tracked through our on-line learning systems. Across the Group we use a traffic light system (red, amber, green) to indicate status on our quality gates. Our Australian business also uses a blue behaviour quality gate to indicate employees that consistently model our Corporate Principles.
4. Performance conversations: regular conversations are held between employees and their people leader to assess each employee's performance. Outcome conversations are undertaken each half-year and employees are advised of their performance and quality gate rating, and how these are reflected in their total reward review.
We also measure the effectiveness of our senior employees' leadership capabilities throughout the Group using 360 degree instruments for the purpose of individual development and reinforcement of our Corporate Principles. The Leadership Behavioural Survey (LBS) is the primary tool used to achieve this. The LBS is based on the behaviours set out in our Corporate Principles. It is also a means of assessing an individual's leadership competency as a source of evidence for performance scorecards. In New Zealand additional 360 degree tools, the Leadership Styles Inventory (LSI) and Opal are used.
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