CBFS organises 12th HR Forum

THE College of Banking and Financial Studies (CBFS) held the 12th meeting of the HR Forum at Crown Plaza on March 30, 2017. The invitees included the CEOs, HR Heads and Training Heads of banks and finance companies

Mr Panagiotis Floros, Senior Client Partner (heading the Financial Services Sector for the Middle East) and General Manager for the globally reputed HR consultants Korn Ferry Hay Group, addressed the Forum on the topic of “Performance Management Systems in the Current Business Environment

Mr Floros highlighted that the concept of performance management is not a new one. Since the early seventies, performance management systems have been in the heart of every company attempting to link business and employee performance. However reality shows that in most cases, performance management is seen as an HR initiative which managers and employees go through in a transactional manner as a way of defining merit based pay and bonus. Reality also shows that there is often little correlation between business performance and employee ratings.

During the address, the speaker explored a model under which performance management can become truly strategic for a business. He covered the key elements required to develop a true performance culture and discussed how HR and business systems need to be designed in synchronisation to facilitate that. In the words of Dr. Ahmed bin Mohsin al Ghassani, “The objective of the HR Forum is industry engagement and advancement of the HR profession by providing a networking and knowledge sharing platform. This initiative is yet another in a series of steps taken by the college to promote the human capital development and capacity building in the national cause”.