Research On Performance Management Optimization Of Bank Of China G Branch

In recent years,China has continuously increased the pace of financial reform,with Internet finance,inclusive finance,finance disintermediation and interest rate marketization taking active part in the financial stage.Now,the management and development of Chinese commercial banks are facing major opportunities and challenges.The competition in the market of financial industry in China has become more and more fierce and the performance management system of traditional commercial bank has been unable to adapt to changes in the internal and external environment.As Chinese bank business continues expanding,performance management is of great significance to the sustainable development of banks.Establishing a scientific performance management system is an important support for Bank of China to improve its operating efficiency,increase the ability to prevent and control risk,optimize the bank business process.In response to the bottlenecks in business development in recent years in Chinese commercial banks,designing effective performance management solutions and strategies can arouse bank employees' working initiative and enthusiasm so as to achieve a win-win situation for the Bank's sustainable development and employees' self-realization.This paper details the case of Bank of China G branch with case-study methods.Firsty,the paper introduces a series of theory of performance management,including concept,characteristics,purpose,influencing factors,composition and five kinds of tools commonly used in performance management.Then the paper briefly introduces the Bank of China G branch,including the development overview,organizational structure and strategic objectives.By analyzing the status quo of performance management in this bank,the author find that the performance management of the bank has some problems in the aspects of performance planning and performance counseling.For example,the objectives of performance management are not clear,the set of performance indicators are not properly,so the author analyzes the cause of the problem.Then,based on the analysis of the necessity andapplicability of Balanced Scorecard in G branch,the author suggests to adopt Balanced Scorecard to optimize the performance management.According to the overall strategic plan,the author depicts the strategic map of the G branch and defines the strategic objectives.The Bank can adopts a combination of the balanced scorecard and KPI tools,setting up the key performance targets for finance,customers,internal business processes and learning and growth,and using AHP tools to calculate the weights of selected performance indicators.Aiming at the existing problems in performance management and the optimized performance management system,a series of guarantee mechanisms are put forward,such as establishing excellent performance culture,carrying out implementation and evaluation of performance management system and so on to ensure performance management optimization system running smoothly.This paper studies the performance management optimization of the G branch and puts forward the related suggestions.I hope this study can be used as a reference for the performance management of Chinese commercial banks.