Contributing to a Sustainable and Motivating Working Environment
In 2013, we made significant contributions to building our capabilities and to meeting both regulatory standards and society’s expectations.
We translated the Deutsche Bank business strategy into a development approach that incorporates our values and beliefs into our people practices by:
- Building capability across the organization and the availability of future leaders;
- Creating an environment that encourages sustainable performance in line with the bank’s strategy;
- Investing in the professional and personal development of our employees and managers to motivate them and maximize their capabilities.
Building Capability across the Organization, and the Availability of Future Leaders
A Group-wide approach to the bank’s senior talent is crucial to building a strong pipeline of future leaders, who can drive sustainable performance, growth and the right culture at the bank for the long term. To this end, a Senior Leader People Committee was formed in 2013 – a formal body to steer and govern bank-wide talent strategies – chaired by the Co-CEOs Jürgen Fitschen and Anshu Jain.
Creating an Environment which Fosters Sustainable Performance Aligned to the Bank’s Strategy
Talent and performance management are two of the core people management practices. They allow execution of our business strategy and develop capabilities that match individual aspirations and business needs.
The purpose of talent management is to attract, develop and retain the best people for sustained high performance. Since 2007 we have been following a globally consistent process, including:
- Talent grid, a tool for assessing performance, potential and readiness.
- Talent review meeting, serves as the key platform to discuss our people’s performance and potential within leadership teams, and to identify career and development options.
- Feedback discussion between managers and employees following the talent review meeting, resulting in a personal career or development plan.
To be effective, talent management must be linked with the business strategy and the bank’s future demand for talent. The new values and beliefs guide us in managing talent and are a measure of growth in our overall approach to development.
Differentiating Performance and Letting People Know where They Stand
Differentiating performance and letting people know where they stand are essential to motivating our employees. The approach requires an employee’s performance to be reviewed against two components:
- What business objectives have been achieved by the employee?
- How have the objectives been achieved?
The performance management process is integral to our corporate culture and a prerequisite for sustainable performance. Moving forward, we must develop our current approach to talent and performance management, integrating our efforts to build the desired culture in line with Strategy 2015+.