5 Conversations of a Large Financial Organization

This large financial institution sets standards for the manager/employee interaction and provides guides for conversations that must take place.  They have decided that five formal conversations throughout the year is the bare minimum, though many more informal interactions can and should take place.  Each conversation has a specific goal and structure to follow to guarantee that the focus remains on high performance. Conversation 1 starts the process with the conversation about goals, IDPs and compensation plans. The process begins as soon as the corporate goals are determined. The corporate goals are cascaded down, the IDP is populated, and learning and development is integrated with the performance requirements. Conversation 2 is a discussion, held at a minimum of once a quarter that provides ratings and feedback on progress to date. The development plan is re-evaluated as needed based on these discussions. Conversation 3 is the year-end discussion where the manager and employee evaluate the results. Managers and individuals sit down and discuss the individual’s behavior and progress against the result. Conversation 4 is the calibration of the year-end results, and the discussion about those results as they apply to the company’s pay-for-performance regimen. Conversation 5 is the further discussion of employee contribution to meeting the team and business goals – and leads directly into the next Conversation 1. No one has commented on this article. You are encouraged to offer your thoughts and comments in this dialog. Name: E-mail: (required) Company: Comment(s):