CFL Performance Improvement Plan (PIP) PDF

**Performance Improvement Plan (PIP)** **OBJECTIVE**: At CFL, fostering a performance-driven culture is a core belief. The organization ensures equal opportunities for all individuals to contribute to its growth, providing necessary support and learning opportunities. The PIP (Performance Improveme...

**Performance Improvement Plan (PIP)** **OBJECTIVE**: At CFL, fostering a performance-driven culture is a core belief. The organization ensures equal opportunities for all individuals to contribute to its growth, providing necessary support and learning opportunities. The PIP (Performance Improvement Plan) serves as a tool to assist consistently underperforming individuals in enhancing their performance within a specified period. **Field Employees**: This includes Relationship Managers (RM), Branch Managers (BM), Branch Credit Manager (BCM), Operations Executive and all roles up to VP/SVP grades across verticals will be covered under this policy. **Support Function:** All employees up to the grade of VP/SVP **GENERAL GUIDELINES:** All employees who are confirmed and have completed 3 months or more in the system for Relationship Manager role and 6 months or more for all other roles will fall under the PIP Process. Employees who are availing maternity leave, prolonged sick leave, under suspension or serving notice period will not be a part of the PIP Process. **PERFORMANCE EVALUATION CRITERIA**: For Relationship Managers and Branch Managers, the criteria will be announced quarterly. **IDENTIFICATION OF PIP POOL**: For all other employees (including Credit and Operations functions), the performance evaluation criteria will be based on the Half-Yearly or Annual Performance Management rating. Employees with PMS rating 5 (Significantly Below Expectation) will fall directly under the PIP Process. **IMPLEMENTATION PROCESS** **PIP DURATION**: **PIP for Relationship Managers will be for a period of 1 month from the issuance of the PIP letter. For all other roles, the PIP period will be 2 months. The PIP letter should be signed jointly by the concerned Line Manager and Location HR. All required parameters in terms of quantitative targets along with clear timelines need to be mentioned in a prescribed template. The same needs to be approved by the concerned Vertical Head.** **Any extension in PIP needs to be approved by the Vertical Head and COO.** **PROCESS FLOW:** **PIP Eligibility List Distribution:** The Business Planning team will share the PIP eligibility list for RM and BM roles with the RBH and Business Heads by the 3rd of every month. The final list of RM and BM to whom the PIP letters are to be issued along with the PIP exit targets will be shared by the Business Heads with HR, Training team as well as the Business Support Team by the 5^th^ of the month Corporate HR will provide the list of "5" raters for all the other roles including Support functions to the Head HRBP and HODs. They will by default fall under the PIP list. **PIP Letter Preparation and Communication:** HR will prepare the PIP letters and communicate them via official email by the 7th of the month. **Content of the PIP Letter:** The PIP letter will include the current performance details, reasons for PIP placement, PIP period and the PIP exit targets. **Initial PIP Meeting:** The skip-level manager (for RM, BM, BCM, Ops Executive) or the direct reporting manager (for other roles) will conduct the first PIP meeting with the employee by the 10th of the month, outlining expectations and the training interventions required. The meeting details must be documented in a specific format, with the image shared with the Business Support team (for Sales, Credit and Operations), HR and Training team. **Training Interventions:** The Training team will initiate training intervention for the RM, BM, BCM and Ops Executive immediately after the first meeting. For other roles, specific training requirements will be recommended by the HODs. The Training team will then take appropriate actions. **Monthly Progress Review:** Progress will be reviewed by the reporting/skip-level managers by the 3rd of the second month of the PIP period. The review must be documented in a specific format. For RM and BM, a scanned copy of the review format must be shared with the Business Support team. Any inconsistencies in the review process will be reported by the training managers to the Business Support team for intervention. **Post-PIP Period Assessment:** Upon completion of the PIP period, the Business Planning team will publish the achievement results for RM and BM by the 4th of the consecutive month. For other employees, the respective function will share the results with the HR team, as applicable. **Post-PIP Period Outcome:** Employees will be considered out of PIP if they achieve their targets. For RM and BM, this means meeting the targets set by the business team. For all other employees, this means achieving the goals assigned by the functional head and the same must be informed to the HR team for the employee's exit from PIP. If an employee fails to achieve the assigned targets by the end of the PIP period, the Vertical Head will either send the input for PIP extension or for separation of services as per the Appointment Letter. All such cases. Both the actions need to be approved by the COO and Head-HR. Action: Basis the final outcome list shared by the Vertical Heads with the requisite approvals, HR will proceed with the decided action by the 10th of the consecutive month of the PIP period. **Conditions:** RM, BM, BCM, CBH and CCH who move into PIP twice in a FY will automatically move towards termination/cessation of services. All other employees who move into PIP for the 2nd time in 2 consecutive FY, will automatically move towards termination / cessation of services. Any exceptions in the policy would need to be recommended by the Vertical Heads and to be approved by the COO for Sales, Credit & Operations team and HODs for the support function team. **RESPONSIBILITY**: When applying this policy, it is important that all the stakeholders (Employee, Manager, Vertical Heads, HR & Training team) fulfil their responsibilities required of them. Employees are responsible for: Ensuring they understand and perform at the standard required for their role. Receiving feedback openly and respectfully from Managers. Understanding that if their work performance falls below the required standard as expected from the role, managers will be obliged to address it. Bringing to their manager's attention, any concerns they have about their own level of performance or personal circumstances that may impact on their ability to perform their role to the required standard. Actively engaging with their manager once this policy is applied and with the support of their manager making all reasonable efforts to positively improve their performance. Line Managers are responsible for ensuring that: The required performance standards for the role are made clear, well communicated, and understood by the employee. Feedback is given on an ongoing basis, both formally and informally and in a timely manner. Under-performance issues are dealt with, as they arise, in a professional, open and respectful manner, in line with the organization values. **Training Team is responsible for:** Sufficient support and access to any relevant training & development opportunities is provided, to help employees, specifically for cases who move into the PIP. The HR team is responsible for: Providing relevant information to both the supervisor and the PIP employee and ensuring that a healthy discussion happens as part of the PIP. All necessary documents are duly maintained as records so that they can be produced to relevant authorities as and when required. **Business Planning & Support team is responsible for:** The data is shared with the relevant verticals on a timely basis. Ensuring that the stipulated initial meeting and the monthly progress review happens as per the process. They will escalate and resolve, if there is any non-compliance. To collect the images of the PIP acceptance letter and the monthly review format and share the same with Regional HR. **Annexure 1: PIP Letter Format** Name of the employee: Employee Code: Position: PIP Period: Dear (Name of the employee), We sincerely thank you for being a valued member of the Criss Family. Your dedication to work has always been pivotal for the growth of the organization. You know that CFL is continuously heading towards growth and our aim of touching new heights will be impossible without your continuous support and effort. If we go through your performance data, there is lots of scope to improve. Please find below your performance data: -- -- -- -- -- -- -- -- We strongly feel that, by working hands in hands, your performance can be improved. Your line managers, HR Team and Training team would take you through a Performance Improvement Plan. During the journey, you should be able to achieve the following parameters: -- -- -- -- -- -- -- -- We request you to attend each intervention like training and mentoring sessions during this period. After the PIP period and even after this continuous effort towards improvements, collaborative guidance and periodic evaluation, if your performance does not meet the required criteria, the organization may take appropriate steps. Manager HR Signature of Employee **Annexure 2: Format of the Review Meeting** +-----------+-----------+-----------+-----------+-----------+-----------+ | **TARGET | | | | | | | FOR PIP | | | | | | | PERIOD** | | | | | | +===========+===========+===========+===========+===========+===========+ | | | | | | | +-----------+-----------+-----------+-----------+-----------+-----------+ | **BENCHMA | | | | | | | RKS | | | | | | | FOR | | | | | | | SUCCESS** | | | | | | +-----------+-----------+-----------+-----------+-----------+-----------+ | | | | | | | +-----------+-----------+-----------+-----------+-----------+-----------+ | **ACTIONA | **DATE** | **SUPPORT | **POTENTI | **DESIRED | **Signatu | | BLE** | | /TRAINING | AL | OUTCOME** | re | | | **DUE** | REQUIRED* | OBSTACLES | | of | | | | * | ** | | Reviewer* | | | | | | | * | +-----------+-----------+-----------+-----------+-----------+-----------+ | | | | | |   | +-----------+-----------+-----------+-----------+-----------+-----------+ | | | | | | | +-----------+-----------+-----------+-----------+-----------+-----------+ |   |   |   |   |   | | +-----------+-----------+-----------+-----------+-----------+-----------+ | | | | | | | +-----------+-----------+-----------+-----------+-----------+-----------+ | | | | | | | +-----------+-----------+-----------+-----------+-----------+-----------+ | | | | | | | +-----------+-----------+-----------+-----------+-----------+-----------+ | **ADDITIO | | | | | | | NAL | | | | | | | NOTES** | | | | | | +-----------+-----------+-----------+-----------+-----------+-----------+ | | | | | | | +-----------+-----------+-----------+-----------+-----------+-----------+