Performance Improvement Plan Overview

A formal process designed to help employees who are consistently underperforming improve their performance within a set timeframe.

Focus on the goals and targets set for the individual in the PIP to gauge their progress.

Relationship Managers (RM), Branch Managers (BM), Branch Credit Manager (BCM), Operations Executive and all roles up to VP/SVP grades across verticals.

Employees who are confirmed and have completed 3 months or more in the system for RM and 6 months or more for other roles.

Employees with PMS rating 5 (Significantly Below Expectation) in their performance review.

1 month for Relationship Managers and 2 months for all other roles.

The PIP letter needs to include quantitative targets, clear timelines, and be approved by the Vertical Head.

The Business Planning team shares a list of eligible employees for RM and BM roles with RBH and Business Heads by the 3rd of each month.

A structured plan designed to help employees improve their performance within a specific timeframe.

The initial meeting between the employee and their manager to discuss the PIP details and expectations.

Training programs or resources provided to employees on areas needing improvement as specified in their PIP.

Regular reviews conducted during the PIP period to assess progress and identify any support needed.

A detailed document outlining the employee's current performance, reasons for being placed on the PIP, the timeframe for the PIP, and the specific goals to be achieved.

The process of evaluating whether an employee has met the goals set out in their PIP and successfully completed the plan.

The successful completion of the PIP objectives, leading to the employee's removal from the plan.

The scenario where an employee fails to meet the targets set in their PIP. This may result in further actions, such as additional support or disciplinary action.

A process of identifying areas needing improvement and developing a plan to address them, involving regular feedback and support.

The HR team is responsible for providing information and ensuring productive conversations related to the Performance Improvement Plan (PIP).

The Business Planning & Support team is involved in tracking the implementation of the PIP, collects relevant data, and ensures timely performance reviews.

A performance improvement plan with a set timeframe, used to address underperforming employees. It includes specific goals and actions to improve performance.

An employee's performance falls below the expected standard of the role, and the manager aims to address it.

If an employee's performance doesn't improve within the PIP timeframe, the manager can either extend the PIP for more improvement or recommend termination.

Repeated performance issues trigger a stricter policy. Employees who enter the PIP twice in a fiscal year face automatic termination.

Managers provide employees with clear and understandable performance expectations for their roles.

Employees are expected to understand and follow the company's performance standards.

The training department provides support and resources to help employees improve their performance.

The policy outlines the process, responsibilities, and consequences related to performance improvement plans within the company.

The PIP is designed to address specific areas where the employee needs to improve. It focuses on setting achievable goals and targets related to the job responsibilities, and providing the necessary support for improvement.

The PIP is a time-bound plan, meaning it has a set duration. It starts at the beginning of the new review cycle.

The plan outlines specific goals and targets that the employee needs to achieve within the PIP period. The targets should be measurable and attainable.

A PIP requires active participation from both the employee and the reviewer. Regular communication and collaboration is crucial to track progress and adjustments.

During the PIP period, the reviewer provides regular feedback on the employee's performance, highlighting areas of progress and areas that require further effort.

At the end of the PIP period, the reviewer evaluates the employee's progress against the set targets. The evaluation helps determine whether the employee has successfully improved and met the PIP objectives.

A PIP is a crucial tool for improving performance and motivating employees to reach their full potential. It provides a structured plan for growth and development.