With nearly 75 years of history, a major national bank was strongly defined by its conventional practices. Over the past decade, they have been re-inventing themselves to be an organization with a modern outlook. This change in culture has caused huge variation in employee performance. The management was keen to understand variance in the performance across various dimensions like employee location, ESOPs etc.
Over a period of 6 months, Gramener studied factors from different channels trying to map employee performance to their location of work, business segment, education background, age, promotion history etc. The team analyzed the varying performance across each of the factors to understand how they played a role in employee performance.
Insights:
- Giving stock options drives performance significantly – particularly in Retail Sales
- Stock options have little or no impact on Retail Banking Performance is rather defined by the grade the employee is in.
- The performance levels across grades is extremely different. This indicates a clear expectation mismatch between grades and people that are promoted into these grades.
- Level of education, however, is universally un-correlated with performance across business units.
These insights challenged the traditional thoughts about the reasons for employee attrition in the organization.