NongHyup Bank announced on the 24th that it would overhaul its human resources system to establish a performance-based organizational culture.
The recent performance enhancement measures include ▲substantial compensation for outstanding employees ▲support for the re-emergence of excellent branch managers on honorary retirement ▲strengthening data-driven performance evaluations, among other key points. First, as a reward for outstanding employees, special promotions will be granted to about 120 employees who generated the best performance in the first half of the year in the non-interest revenue sectors, such as securities, bancassurance, and digital finance. In addition, during the year-end regular personnel appointments, the special promotions previously conducted in the best banker and credit sectors will be expanded to the WM, digital finance, bond management, and foreign exchange sectors.
Regarding support for the re-emergence of excellent branch managers on honorary retirement, various motivational measures will be implemented, such as offering continued employment opportunities to outstanding branch managers and providing incentives based on business performance in the year of honorary retirement.
To strengthen data-driven performance evaluations, quantitative indicators will be introduced in the promotion review criteria. When appointing department heads at the central headquarters and branch managers, a data-driven evaluation system based on performance and competency assessments will be introduced.
Kang Tae-young, president of NongHyup Bank, said, "Through performance-based personnel innovation, we will enhance human resource competitiveness and increase fairness and transparency by implementing comprehensive quantitative evaluations."