Finance Performance Management Developing employees in the insurance, banking and financial services sectors
Performance management in financial services isn’t straightforward. Factors including complex reward structures, different KPIs for client-facing and support roles, and the responsibility that comes with regulation must all be accommodated and balanced.
Reducing the burden of employee appraisals in financial services
Sophisticated calibration processes, data security concerns, and lengthy manual processes for gathering feedback all add to the burden on HR. At Appraisd, we’re trusted by financial services organisations to provide a performance management solution that fits their business - bringing security, efficiency and fairness to the performance management process.
Performance management for financial services personalised at scale
At Appraisd we’re specialists in personalising performance management at scale. Meaning, an FX trader in Singapore can experience a completely different process than that of an HR Analyst in London, yet both are contributing to the same organisational goals. As well as helping with engagement and motivation, this approach ensures maximum completion rates which are required for regulatory compliance.
Ensure employee appraisals in financial services are fair, secure and relevant
Fit a performance management process around your business needs
Many performance management systems struggle to accommodate the diverse needs of financial services organisations. Appraisd can be personalised at scale so the performance management experience is relevant for everyone, increasing adoption and making life easier for HR, line managers and employees.
Be reassured performance management is in line with regulations
Compliance is another layer of complexity that financial services, banking and insurance companies must address in their record keeping. Appraisd supports your compliance procedures by recording and securely storing every performance touch-point from onboarding to exit.
Ease the burden of calibration
For some financial sector businesses an important part of appraisals in finance organisation of ratings and scores because they are linked to pay and bonus. Appraisd can accommodate complex calibration processes with multiple ratings and pieces of evidence stored securely. Plus, automation means that collecting and analysing ratings for appraisals in financial services is simple.
Access simple reporting to support rating and review conversations
Preparing for calibration meetings can be burdensome for HR and line managers. Appraisd’s simplified reporting aids the process, providing indicative rating reviews and data to inform pay adjustments.
Manage, request and access feedback at any time
There are multiple risks associated with storing data offline, in piecemeal documents and with unclear access rights. Eliminate the risks of miscalculations and data leaks by using Appraisd to collate all feedback and ratings in one place.
Measure performance against financial targets or non-financial KPIs
In financial services organisations where varied roles create different motivations and aspirations, KPIs and objectives will vary greatly between teams. Appraisd can accommodate both measurement of performance against KPIs and performance against non-financial targets such as project contribution and development of competencies.
Appraisals in finance made easy
“The fact that I feel so confident to endorse them to my peers sums up exactly how impressed I’ve been with Appraisd. I was also delighted that our partnership was recognised by the judges of the Personnel Today Awards, shortlisting Appraisd for HR Tech Provider of the Year.”
Resources for performance management in financial services
Frequently asked questions about performance management in financial services
How often should appraisals in financial services take place?
Appraisals in financial services tend to take place annually, with a mid-year review at the half-way point and perhaps a quarterly review, depending on the role. Appraisd can accommodate any system from regular one-to-ones to annual reviews.
We recommend that any appraisal process is supported by continuous performance conversations so there are no surprises at the end of the year. Many companies find it difficult to shift entirely to monthly check-ins. Appraisd is designed to ease the transition to a more continuous performance management approach in a way that still ticks the compliance and pay-review boxes.
Can different types of KPIs for different teams be tracked in Appraisd?
Yes, Appraisd can accommodate any type of KPI, OKR, objective or goal whether financial or not. Progress against each one can also be easily tracked in the system, making annual appraisals much easier as the information is already collated.
Is Appraisd relevant for performance management in banking?
Yes, many of our clients use Appraisd for performance appraisals for bank employees. Because the system can be personalised at scale, it’s possible to set relevant KPIs for different individuals in different teams and markets.
Start building a high-performing culture & retain key talent with Appraisd
Make relevant, timely feedback part of your performance management process, driving development and business growth
