Valuing Our Colleagues
As the economic environment continues to evolve, our customers’ of teams and individuals. And because our performance
needs change with it. This demands that we adapt our business appraisal process is standardized, we are consistent in our
accordingly, to generate sustainable revenue and to secure our future communication on our expectations for all positions, as well as
profitability by responding to the material needs of our stakeholders. in our decision-making processes regarding career development
and compensation.
MATERIAL NEED OUR APPROACH UPM is facilitated via a dedicated application, in countries
where our supporting IT platform is in place.
• Simplify and consolidate our performance
Performance management processes
management • Develop consistent standards for our
colleagues All of our employees undergo
• Design distinct and focused professional annual performance appraisals
development initiatives while maintaining a
Learning and consistent approach to appraising performance,
development employee potential and personal goals Our straightforward, Groupwide performance management
• Specialize our learning programs according to system offers concrete benefits. Colleagues receive feedback
job profiles and business segments to boost their career motivation and growth, while managers
• Promote gender balance in our leadership can evaluate and develop their team with fairness and
• Support people with disabilities transparency by differentiating development options according
Diversity and inclusion to performance goals and growth opportunities. Overall, UPM
• Value age
• Engage colleagues in our Group strategy creates a common performance culture and improves our
business sustainability.
Performance management Rewarding sustainable performance
To be a sustainable bank demands that our methods for measuring We are working to ensure that our professional development
performance – and rewarding it – be transparent Groupwide. and compensation systems are simple yet effective and in
That is why we have simplified and consolidated our HR processes alignment with our business and HR strategies, as well as the
and created consistent standards for our colleagues. evolving regulatory environment.
In the process of standardizing and streamlining our HR
Measuring performance transparently processes, in 2012 we aligned the processes and scheduling
In 2012, we implemented UniCredit Performance Management of our Executive Development Plan (EDP) with those of our
(UPM), a standardized Groupwide performance appraisal and Group executives’ incentive system. By doing so, we established
career development process. Appraisals are performed throughout a single appraisal and goal-setting process for both leadership
a colleague’s career on a 12-month cycle. This process aligns our development and incentive compensation.
actions with our business strategy by connecting UniCredit’s goals
with those of our employees. The results from this process give an overview of appraisals,
UPM is linked to both our Global Job and Competency models, development opportunities and variable compensation.
which together define the job responsibilities and requirements This allows managers to conduct a full assessment of
for each position within UniCredit. It sets the standards operational, sustainability and other metrics from the
according to which we monitor and evaluate the achievements performance appraisal and to define the final compensation.
UniCredit Performance Management
Input 12 - month cycle Impact
What Learning &
1 Development Plan
Global Job Model Goal 2
Setting Self
Appraisal
Revise Career
Goals
and Give Management
4 feedback
Feedback
Competencies and 3
Development Manager
Plan Appraisal Staffing
UC Global
Competency Model
Technology Compensation
How
Enabler
22 2012 Sustainability Report · UniCredit