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“Family Business” could be the heading for the new integrated human resources management system developed in 2006 in cooperation with the bank’s management. In agreement with the Employees’ Council it will be launched for a trial run in Bank Austria Creditanstalt in 2007. The new system’s name “Family Business” comes from the 100 or so jobs distributed across 1– 4 functional levels, which are bundled in so-called “job families”.
The job families create the basis for a modern, efficient and performance-oriented human resources management system that is based on the values – most importantly transparency and fairness – set out in our value system, UniCredit Group’s Integrity Charter.
Consistent with the concept of integrated HR management, the job families approach ties in with other system components such as compensation management, performance management and the career system.
Compensation management is – besides collective-agreement-based minimum standards – oriented to the “market value” of concrete activities (functions). This means that each function within BA-CA is linked to a salary band that is pegged to regularly reviewed market data and fixed on the basis of clearly defined rules. This system ensures that salary-related decisions are in line with market standards and are transparent.
Each year, an agreement of objectives and an annual performance appraisal are conducted with all employees and executives based on a standardised process for assessing the level to which objectives have been achieved. This process has already become standard procedure within BA-CA. These elements of performance management will now be further expanded by introducing an MBO Process (management by objectives) based on target-group-specific scorecards and new, performance-oriented incentive systems as well as annual performance talks. Implementation of this process will be greatly facilitated by the use of a web tool.
The implementation of the job families introduces three career systems (banking professionals, client relationship management Retail Austria, leaders and managers) with a wide variety of prospects for employees. This approach puts career management and staff development on a more efficient basis. All job profiles are accessible. All employees know which qualifications are required for the different jobs. This allows for sound self-assessment in planning their individual careers. Which skills do I already have? Which should I develop?
The new human resources management system constitutes a key element for the future success of our bank, our banking group and each individual employee. However, not only processes and instruments but also efficient “day-to-day business” are crucial for success.
Restructuring
To ensure the future commercial success of BA-CA, staffing levels and employee qualifications must be continuously adjusted to requirements.
In 2006, staff numbers had to be slightly reduced by 160 FTEs once again. Staffing targets were reached with consensual severance agreements and a restrictive intake policy.