HCP Conversations Knowledge Series: Let's Talk About Performance (Part 2)

In the second of the HCP Conversations Knowledge Series – Let’s Talk About Performance!, we explore how HCPartners FedEx Express Singapore and HSBC have successfully developed an effective performance management strategy that supports the business in achieving its goals. This article is the second instalment in this three-part article series. 

Sharing by FedEx Express Singapore

Mr Eric Tan, Managing Director of FedEx Express Singapore shares how one of the world’s largest express transportation companies successfully drove the transition of its performance management process to one that encourages employees to focus on future performance and drives business goals.

As a people company, Fedex strives to continuously improve its performance management processes to drive individual, team and organisational performance. To achieve this, the firm takes on a holistic approach towards performance management and employee experience. This involved transitioning the firm’s performance management process from a traditional results-focused performance appraisal to a result and competencies-focused performance review. 

To effectively execute this transition, Fedex focused supporting management skills in performance, development and engagement. This was achieved by

• Shifting the focus from the performance management system to listening to the people managers and providing them the tools and resources they needed.
• Providing the necessary support and training to empower managers to conduct effective performance conversations. 
• Focusing on building manager-team relationships and consistently engaging with employees by leveraging coaching and feedback skillsets.

Employee engagement was paramount to the success of the transition, and was centered on the genuine recognition in the value in supporting employees in their learning journey to grow professionally.

Fedex believes that as an industry leader, it is pivotal to instill a growth mindset that encourages employees to focus on the future; and building an effective performance management strategy can support that. The successful transition has not only boosted employee morale and productivity, but supported the business in its strategic workforce planning and meeting business goals.

Sharing by HSBC

Mr Vishesh Dimri, Lead of HR Consulting from HSBC shares the belief that performance management enables employees to deliver sustainable long-term performance that is aligned to the Bank’s values. All employees and their managers have a shared and continuous responsibility to support and develop performance throughout the year. The performance management process broadly involves

• Goal setting: A two-way dialogue on both business and personal development goals, and the behaviours and support required to meet these goals.
• Everyday performance and development conversations: Shift towards open and frequent two-way exchanges and sharing of holistic performance feedback throughout the year to support employee performance, development and well-being.
• Year-end assessment: 360-degree feedback from relevant stakeholders, including a fairness review to ensure that assessments are fair, accurate and free-from bias.

The future of HSBC is hybrid, and the Bank understands that its performance management process should support employees to perform their best regardless of where work is performed. To do so, HSBC focused on

• Driving the importance of everyday performance: Focusing on simple and meaningful conversations driven by individual, team and business needs.
• Digital enablement: Introducing the HR Mobile App as a continuous performance tool to facilitate everyday performance and development throughout the year.
• Building people manager capabilities: Equipping people managers with the right competencies as the Bank recognises the key role they play in managing performance. This includes trainings, briefings as well as support resources and guides.

FedEx Express Singapore and HSBC have demonstrated the importance of a performance management process that strengthens the link between managers and employees to deliver performance results. Such forward-looking organisations continually transform their performance management process to better meet the needs of employees drive the business forward. Download the Human Capital Implementation Toolkit to get started today!

Read part 1 and part 3 of the article series.