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One Team, One Vision 

“I use Performance Measurement and Management as a core management tool for myself and my direct reports, and I firmly believe we must all see PMM not just as a year-end review process but as a way to manage our individual performance and direct it in the most effective and efficient ways”.
            –Peter Wuffli, Group Chief Executive Officer

UBS refers to Performance  Measurement and Management as Managing Performance. The turning of the phrase reflects the use of the process as a key global initiative that has helped the company attain record growth in the last few years. The company is comprised of four business groups: a leading global wealth manager, a top tier investment banking and securities firm, and one of the largest global asset managers. It’s headquartered in Zurich and Basel, Switzerland, and the 78,000 employees are in 46 countries.

The company recognizes that managers today face a fundamentally different set of challenges when it comes to encouraging and rewarding performance and is addressing them in their PMM process.

These changes include:
  • Flattening of the hierarchy
  • Broader span of control for managers
  • Increased organizational complexity
  • More self-directed knowledge workers
  • Increased drive towards transparency
The current PMM process was initiated after a survey of existing processes revealed that there was little commonality between the performance management processes of the business groups, and as many as 16 different competency models. This prevented the company from focusing on rewarding actions and behaviors that would lead to business performance improvement.

Today, PMM is an essential tool to make the business strategy an operational reality.

Performance Management:
  • Translates the strategy into every employee’s business and professional goals
  • Provides an objective basis for performance assessment and development
  • Helps to develop talent
  • Creates a framework for continuous dialog Is the underpinning of the firm’s culture of meritocracy
The organization focuses on defining the right objectives that contribute to further growing the organization. Employees are rated on both their contribution – what they do – and their competency – how they do it. PMM is, as Peter Wuffli says, much more than just a review an objective-setting tool. It roots the culture and values in everyday actions of each employee in a constant, meaningful dialog between employees and their managers each year.


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