Performance Improvement Plan Overview

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Questions and Answers

What is one primary responsibility of the HR team regarding the Performance Improvement Plan (PIP)?

Maintain necessary documents as records (correct)

Conduct training sessions for employees

Provide financial support to employees

Analyze monthly performance data

What does the Business Planning & Support team NOT do as part of their responsibilities?

Conduct performance appraisals for employees (correct)

Ensure timely sharing of data with relevant verticals

Escalate and resolve non-compliance issues

Collect images of the PIP acceptance letter

Which of the following is a requirement for the employee during the PIP period?

To attend interventions like training and mentoring (correct)

To submit a resignation letter if performance is unsatisfactory

To evaluate other employees as part of the process

To independently assess their performance

What is the possible consequence if an employee's performance does not meet the criteria after the PIP period?

Appropriate steps taken by the organization (C) Signup and view all the answers

What is included in the PIP acceptance letter format?

Parameters to achieve during the PIP (D) Signup and view all the answers

Who among the following employees is eligible to be part of the PIP Process?

A confirmed employee with 3 months in the RM role (C) Signup and view all the answers

What is the duration of the PIP for all employees except Relationship Managers?

2 months (C) Signup and view all the answers

What performance management rating directly qualifies an employee for the PIP Process?

Rating of 5 (Significantly Below Expectation) (D) Signup and view all the answers

Which of the following roles is covered under the PIP policy?

Branch Managers (B) Signup and view all the answers

What must be included in the PIP letter according to the guidelines?

Quantitative targets and timelines (C) Signup and view all the answers

Who is responsible for approving any extensions to a PIP?

The Vertical Head and COO (D) Signup and view all the answers

When will the PIP eligibility list for Relationship Managers and Branch Managers be shared?

By the 3rd of every month (B) Signup and view all the answers

Which of the following employees are not included in the PIP Process?

Relationship Managers on maternity leave (A), Confirmed employees with under 6 months in any role (B) Signup and view all the answers

What happens if an employee does not meet the targets by the end of the PIP period?

Their services may be terminated or their PIP may be extended. (C) Signup and view all the answers

Who is responsible for recommending exceptions to the PIP policy?

Vertical Heads of the respective teams. (C) Signup and view all the answers

Which employees are automatically targeted for termination after repeating PIP?

RM, BM, BCM, CBH and CCH entering PIP a second time in one FY. (D) Signup and view all the answers

What is expected from employees during the Performance Improvement Plan?

Actively engaging with their manager for support. (B) Signup and view all the answers

What is the role of the Line Manager in the PIP process?

To provide ongoing feedback and ensure clarity of performance standards. (C) Signup and view all the answers

What must HR do based on the final outcome list from Vertical Heads?

Implement the approved action by the 10th of the following month. (D) Signup and view all the answers

What type of feedback is expected to be provided to employees by their managers?

Ongoing feedback both formally and informally. (B) Signup and view all the answers

What role does the Training Team play in the PIP process?

They ensure relevant training and development opportunities are available. (D) Signup and view all the answers

What is the purpose of the 'Benchmarks for Success' section in the review meeting format?

To outline the expected outcomes of the performance improvement plan. (C) Signup and view all the answers

What is likely included under the 'Actionable' column of the review meeting format?

Specific steps to be taken by the employee. (D) Signup and view all the answers

What is the significance of the 'Date Due' field in the review meeting format?

To specify when follow-up actions should be completed. (D) Signup and view all the answers

In the context of the review meeting format, what does 'Support/Training Required' imply?

Additional training or resources required for the employee’s improvement. (D) Signup and view all the answers

By what date will the final list of RM and BM for PIP letters be shared with HR and other teams?

5th of the month (D) Signup and view all the answers

What do the 'Desired Outcome' and 'Potential Obstacles' sections collectively aim to achieve?

To set clear goals for improvement while identifying challenges. (A) Signup and view all the answers

What does the PIP letter NOT include?

Feedback from coworkers (C) Signup and view all the answers

What might be noted under the 'Additional Notes' section in the review meeting format?

General observations that don’t fit into the main categories. (A) Signup and view all the answers

What role does the 'Signature of Reviewer' serve in the review meeting format?

It signifies that the review process was completed satisfactorily. (A) Signup and view all the answers

Who is responsible for conducting the first PIP meeting with the employee?

Skip-level manager or direct reporting manager (C) Signup and view all the answers

When will the monthly progress review be conducted during the PIP period?

3rd of the second month of the PIP period (D) Signup and view all the answers

Why is it important to identify 'Potential Obstacles' in the review format?

To prepare alternative strategies if goals are not met. (D) Signup and view all the answers

What must happen after the completion of the PIP period for RM and BM?

Achievement results will be published by the Business Planning team (C) Signup and view all the answers

Which team initiates training interventions immediately after the first PIP meeting?

Training Team (A) Signup and view all the answers

Who provides the list of '5' raters for employees in roles other than Support functions?

Corporate HR (A) Signup and view all the answers

What signifies that an employee is out of PIP?

They achieve their assigned targets (B) Signup and view all the answers

Study Notes

Performance Improvement Plan (PIP)

Objective: Fostering a performance-driven culture at CFL, providing necessary support and learning opportunities for all employees. PIP serves as a tool for underperforming individuals.
Field Employees: Relationship Managers (RM), Branch Managers (BM), Branch Credit Managers (BCM), Operations Executives, and all roles up to VP/SVP grades across verticals are covered.
Support Function: All employees up to VP/SVP grade are covered.

General Guidelines

Employees confirmed and with 3+ months (Relationship Managers) or 6+ months (other roles) in the system are eligible for PIP.
Employees on maternity leave, prolonged sick leave, suspension, or notice period are excluded from PIP.

Performance Evaluation Criteria

Quarterly criteria for Relationship Managers and Branch Managers.

PIP Pool Identification

Other employees (Credit & Operations functions): Half-yearly/Annual Performance Management rating.
Employees with PMS rating 5 (Significantly Below Expectation) are directly placed in the PIP Process.

Implementation Process

PIP Duration: 1 month for Relationship Managers, 2 months for other roles.
PIP letters are signed jointly by Line Manager and Location HR; quantifiable targets and timelines must be included.
Extensions require approval from the Vertical Head and COO.

Process Flow (for Relationship Managers and Branch Managers)

Business Planning team shares PIP eligibility lists for RM & BM on the 3rd of every month, with RBH and Business Heads.
HR prepares PIP letters by the 7th of the month.
PIP letters include performance details, reasons for placement, PIP period, and exit targets
Skip-level managers meet with employees by the 10th of the month, outlining expectations and training requirements.
Training team provides intervention to RM, BM, BCM and Ops Executives immediately after the first meeting. Other roles have training recommendations by HODs.
Monthly progress review by the reporting manager by the 3rd of the second month. Business Support team receives a scanned copy for RM and BM reviews
Problems with review process reported to training managers

PIP Outcomes

Employees reach their targets exit PIP.
Failure to meet targets may lead to PIP extension, separation (approved by COO and Head-HR).

Responsibilities

Employee: Understand role expectations, receive feedback (open and respectful), address feedback from managers, and inform their managers of any concerns.
Line Manager: Set clear performance standards, provide ongoing feedback (formal and informal), handle underperformance issues professionally, respect others
Training Team: Provide training as required.
HR: Support employees, provide relevant information.

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Description

This quiz covers the Performance Improvement Plan (PIP) at CFL, detailing objectives, eligibility criteria, and evaluation standards for employees across various roles. Understand the guidelines to foster a performance-driven culture and identify underperforming individuals who require support.