Human resources strategy
Deploying the right employees at the right place and enabling them to cooperate in cross-border and cross-cultural settings is essential for the corporate culture of the internationally oriented LLB Group. Clients are becoming more discerning, the regulatory environment more complex and risk management is becoming increasingly important. Against this backdrop, it is decisive that knowledge and competences are pooled, services and processes standardized and that the focus is placed on clients and markets. The ability to attract and keep the best talents and executives will have a crucial impact on business success.
High-performing employees are not only the most valuable capital a financial institution has; they are its most important and effective ambassadors. Promoting «talent» for us is not just about young up-and-coming employees. Demographic changes mean that we depend more than ever on the expertise of senior colleagues. Only a common culture of performance that promotes team spirit and commitment can help us to secure and sustain our competitive edge. And only an organization that is willing to learn is able to translate the increasing speed of life and constant change into profit. With the implementation of its new organizational structure in 2012 (see chapter «»), the LLB Group has consistently pressed ahead with the development of a business culture based on both performance and the continued improvement of management skills.
Evaluation of performance and potential
Our «People Development Process» serves to help us evaluate employees in a structured manner covering a broad range of aspects. Criteria for evaluation are performance, conduct, career potential, deployment within the company and the succession process. The LLB Group is planning a systematic approach to staff development for 2013. This will include a «People Development Database» with which talent can be identified and promoted. A pilot project was successfully completed in 2012. In future, corporate and staff development will be interconnected within the LLB Group.
For a few years now, employee performance has been evaluated and individual objectives have been clearly defined at least once per year in annual meetings between employees and their supervisors. Performance evaluations ensure that our employees are able to perform their tasks efficiently and meet requirements in future too. The new development plan defines six dimensions for conduct and performance and institutionalizes a modern talent management system for employees and managers. The formal evaluation process underscores our performance-oriented corporate culture, at the heart of which are our clients.
Our ambition of attracting the best talent to advance our company is supported by our professional application management system. Since 2012 we have been using an electronic recruitment software, which enables us to optimally manage the recruitment process: from the job openings on our web site , the job postings on online job boards to the selection of the right candidate. We also make increasing use of Internet-based social networks.