Union Bank needs consultant to upgrade PMS

Union Bank of India is looking for a consultant for designing and implementing a support system for enhancing performance management and talent effectiveness. The bank is aiming to become a next generation digitally-enabled universal bank, known for responsive, responsible and inclusive banking through customer centric business models and significant investment in employee development. The bank is also in the process of completing the merger of Andhra Bank and Corporation Bank with it and the merger is expected to pose challenges in the integration of human talent in the 3 banks. The bank feels that while the changes are taking place, it is imperative that the efforts and capabilities of the employees are aligned to the big picture, by encouraging ‘performance mindset’ in the bank. This can be achieved with objective assessment of employee performance, through a system driven mechanism which allows the management to put in place employee engagement initiatives and take informed decisions for placement of staff according to individual strengths. The whole process would need an updation of the present Performance Management System. The bank wants the selected consultant to offer an end-to-end solution and the process of evolving the solution would include conducting gap analysis, redesigning the process by bringing best in class practices, approach and knowledge, as also timely implementation of such initiatives. It wants to have a system which is capable of automatically generating scores according to the performance metrics.