CHAPTER 6. PERFORMANCE MANAGEMENT Policy The policy on performance management system (PMS) at BMF is to promote a dynamic work culture in employees are enabled to perform to the best of their abilities. PMS shall be strictly considered as a whole work system toward improving employee performance and sustaining effectiveness to meet the goals and objectives of BMF. PMS is expected to: Clarify and translate annual Foundation targets across the divisions and identify and assign employees their performance targets; Identify performance improvement across the divisions and for individual employees so that development needs are appropriately determined; and Assess, rationalize and evaluate systematic performance measures to recognize and reward annual accomplishments, and to serve as a basis for administering appropriate human resource actions. Actions The following actions be required in order to rationalize the PMS: Development of clear job description; Rationalization of performance standards, required outcomes, and measures; Identification of development needs; Facilitation of on-going coaching and feedback; Review of performance targets and achievements; and Aligning of performance results to variable incentives such as PBVP and annual bonus. Employee performance appraisal PMS apply to all BMF employees and shall be implemented through tools such as the employee performance appraisal, which will be one of the formal, structured systems of measuring and evaluating an employee’s performance.
CHAPTER 6. PERFORMANCE MANAGEMENT Policy The policy on performance management system (PMS) at BMF is to promote a dynamic work culture in employees are enabled to perform to the best of their abilities. PMS shall be strictly considered as a whole work system toward improving employee performance and sustaining effectiveness to meet the goals and objectives of BMF. PMS is expected to: Clarify and translate annual Foundation targets across the divisions and identify and assign employees their performance targets; Identify performance improvement across the divisions and for individual employees so that development needs are appropriately determined; and Assess, rationalize and evaluate systematic performance measures to recognize and reward annual accomplishments, and to serve as a basis for administering appropriate human resource actions. Actions The following actions be required in order to rationalize the PMS: Development of clear job description; Rationalization of performance standards, required outcomes, and measures; Identification of development needs; Facilitation of on-going coaching and feedback; Review of performance targets and achievements; and Aligning of performance results to variable incentives such as PBVP and annual bonus. Employee performance appraisal PMS apply to all BMF employees and shall be implemented through tools such as the employee performance appraisal, which will be one of the formal, structured systems of measuring and evaluating an employee’s performance.
BMF-Service-Rules.docx