Annual Performance Review Process
Annual Performance Review Process
The annual performance review is a cornerstone of Global Bank's talent management framework. It provides a structured opportunity for employees and line managers to reflect on achievements, assess performance against objectives, and plan for future development. This article outlines the full review cycle, key milestones, and expectations.
Performance Year
The performance year runs from 1 January to 31 December. The formal review process takes place during Q1 of the following year, with outcomes communicated by the end of March.
Review Cycle Timeline
| Phase | Timing | Key Activity |
|---|---|---|
| Objective Setting | January | Employees and line managers agree objectives for the year in Workday |
| Mid-Year Check-In | June–July | Informal review of progress; adjust objectives if needed |
| Self-Assessment | December (last 2 weeks) | Employee completes self-assessment in Workday |
| Manager Assessment | January (first 3 weeks) | Line manager completes their assessment and proposes a rating |
| Calibration | Late January–February | Ratings calibrated across teams and divisions |
| Review Meeting | February–March | Line manager and employee discuss the final rating and feedback |
| Outcomes Communicated | March | Final rating confirmed; linked to compensation and bonus decisions |
Rating Scale
Global Bank uses a five-point rating scale:
| Rating | Description | Guideline Distribution |
|---|---|---|
| 1 — Exceptional | Consistently exceeded all objectives; outstanding impact | ~5% |
| 2 — Strong | Exceeded most objectives; significant contribution | ~20% |
| 3 — Fully Effective | Met all objectives; solid, reliable performance | ~55% |
| 4 — Developing | Partially met objectives; improvement needed in some areas | ~15% |
| 5 — Underperforming | Did not meet key objectives; significant improvement required | ~5% |
The guideline distribution is intended as a reference for calibration, not a rigid quota. Actual distributions may vary by team and division.
Self-Assessment
Employees are expected to complete a thoughtful self-assessment in Workday covering:
- Progress against each agreed objective, with supporting evidence and examples.
- Key achievements and contributions beyond formal objectives.
- Demonstration of the Global Bank competencies (Client Focus, Collaboration, Risk Awareness, Innovation, and Integrity).
- Areas for development and lessons learned.
Manager Assessment
Line managers are expected to:
- Review the employee's self-assessment and gather input from key stakeholders (360-degree feedback is encouraged for VP-level and above).
- Provide specific, evidence-based commentary for each objective.
- Assess the employee against the Global Bank competency framework.
- Propose a performance rating with supporting rationale.
Calibration
Calibration sessions are conducted at division and business-unit level, facilitated by HR Business Partners. The purpose is to ensure consistency and fairness of ratings across teams. During calibration, proposed ratings may be adjusted based on comparative performance data and cross-team evidence.
Performance Review Meeting
The review meeting is a two-way conversation between the employee and line manager. It should cover:
- Discussion of the final performance rating and the evidence supporting it.
- Recognition of achievements and strengths.
- Constructive feedback on areas for development.
- Agreement on development priorities for the coming year.
- Preliminary discussion of objectives for the new performance year.
Link to Compensation
Performance ratings directly influence annual salary reviews and discretionary bonus allocations. Employees rated 4 or 5 may be placed on a Performance Improvement Plan (PIP) and may not be eligible for a bonus or salary increase. Specific compensation outcomes are communicated separately by the Compensation Team in March.
For questions about the performance review process, contact your HR Business Partner or email hr.services@globalbank.com.