Analysis On The Present Status Of Bank Of China Jilin Branch's Performance Management And Improvement Suggestions

As the territorial agent of Bank of China in Jilin Province, Bank of China Jilin Branch has been overwhelming in the business areas of Forex business, international accounting, credit card, and so on. However, with the abrupt competition from banks home and abroad, especially with China's entry into WTO, Jilin Branch is facing great challenges. Thus, it is an important issue how to enforce performance management and to increase profits.It was the first time for Jilin Branch to build performance management system in 2000. The system is made up of three parts: sub -branch performance, section performance and employee performance and now has been built primarily and retained in procedures. But it is a little sketchy yet and the executive principals has been misunderstood. As a result, the performance assessments are not accepted by most employee.There are some problems in all the three parts of performance management system. The problems of sub -branches performance management lie in complicated rates, the nature defect of goal-oriented management method, sub –branches focusing excessively on performance rates. Also, without separately accounting of sections, there are two problems in section performance management, one of which is inseparate performances and the other is inseperate profits and costs. In the performance management of employee, obscure performance criterions and reasonable methods leads to a contrary result.The problems mentioned above are because of: I. Disaccord of Performance Management and StrategiesGiven the budget management, it does not work on the basis of market investigation and analysis. As a result, the budget does not play a role in the amount level of business goal and dealing control and the effect of performance management decreases. II. Insufficient Understanding of Performance IntegrityPerformance assessment is almost regarded as the whole of performance management and other aspects of that, such as performance plan, performance operation, and applications of feedback have been ignored of. III. Laggard Organization CultureBank of China still retains administrative methods, away from one oriented around an open market. Thus, any advanced methods of performance management cannot work. IV. Lack of Basic HR WorkWithout strict definition in position responsibility, performance rate and position value, performance management is out of joint with compensation management, HR training, and so on.V. Poor HR Management Abilities of Section ManagersMost problems of performance management lie in the poor abilities and misunderstanding of managers.VI. Ignorance of Performance Management of ManagersAt present, there is still a long way for Jilin Branch to cover in performance management of managers, rates of which are obscure and not liable to operate. Here are the innovation suggestions:I. Determine KPI by the method of Success Key FactorsII. Build a performance assessment management system, separate from financial accounting systemIII. Cultivate a healthy organization culture IV. Complete basic work on human resourceV. Select an appropriate methodVI. Focusing on manager performances...