Improving Performance Culture and Financial Rewards in Maine Bank

Maine Bank

EXECUTIVE SUMMARY
Maine is an American owned large bank. This bank has major business operations in UK.
The various number of functions are performed by bank includes individual customer banking
and small, medium & UK large organisations business banking. The main issue faced by this
bank is related to lack in performance culture and low morale of employees. The objective of the
report is to ascertain the viability of current approaches along with suggestion of the improved
options that can build strong working culture. The performance management approach is related
to appraisal of employee’s performance on the basis of five points. This is performed by manager
on which employees did not have trust. The approach of financial reward is needed to be
reviewed as most of the employees got the level of highest salary marking. Also, the return to
merit level performance is low i.e. 0.2%. It is recommended to the organisation that involve
leader is appraisal work and adopt the approach of 360degree appraisal. In relation to financial
reward, improve the limit up to the maximum of 0.75% on the basis of evaluating different job
and performance related criterion.

Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................1
Analysis...........................................................................................................................................1
Determination of the overall organisational functioning and analysis of the aspects applied
over whole organisation...............................................................................................................1
Analysis of the individual departmental functioning along with ascertaining objectives...........3
Recommendations........................................................................................................................4
Implementation............................................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................7