Main areas of focus in 2009

 

Performance management and reward

When more clarity developed on external regulatory requirements around compensation, we began to revamp our remuneration policy for the entire organisation, in order to establish more precise guidelines. NIBC already complied with many of the recommendations made by regulators last year, such as linking variable compensation to business performance and deferring sizeable parts of bonuses. Although we were already capturing much of the spirit and the letter of the regulations, our policies were subsequently brought in line with more specific rules on such matters as guaranteed bonuses and exit payments.

 

NIBC’s process of performance management functioned well in 2009. The quality of performance reviews in terms of completion rates, punctuality and content improved. We began work to improve the quality of target-setting, so as to better align individual targets with the bank’s overall goals. This drive will continue in 2010.

 

 

Talent development

The ‘Insights’ team development programme introduced in 2008 gathered steam last year. More than 220 NIBC employees have now participated in the programme, which helps managers develop and apply leadership skills and build effective teams. The Insights methodology enhances teamwork, a key NIBC goal, by helping participants to understand diverse styles and behaviours and to adjust their own behaviour to optimise cooperation with colleagues and clients.

 

We re-ran the Hay Leadership Style and Organisational Climate Survey, previously conducted in 2006 and 2007. Around 60 leaders and some 360 direct reports completed the survey last year. Outcomes indicated the NIBC organisational climate has proved remarkably resilient despite the challenging business conditions of recent years. We will now look to improve further in areas such as broadening the leadership style repertoire of individual leaders and enhancing cooperation across the organisation.

 

NIBC’s internal and external perception study highlighted a need for a more structured approach to learning and development across NIBC. We now plan to define a leadership profile for NIBC; create a leadership event for managing directors that focuses on relevant leadership skills and behaviours; and design a continuous professional development curriculum for each business unit. The latter, which is in line with the Dutch Banking Code requirement for ongoing professional development of companies’ Managing Board and Supervisory Board members, will be a key focus area in 2010.

 

 

Recruitment and selection

The number of employees increased slightly last year after a sharp decrease in 2008. We ended 2009 with 644 employees versus 625 at end-2008, thanks to selective hiring of professionals.

 

Thirteen young analysts completed the NIBC Analyst Program in 2009. This scheme, run in cooperation with the Amsterdam Institute of Finance, focuses on banking and personal skills. The quality of the programme is widely recognised in the market, allowing us to attract high-calibre candidates. Eighteen analysts were recruited for the 2010 programme.