Jin Ok-dong, Shinhan Bank President, "Leaders Should Evaluate Implementation Process, Not Just Simple Sales Performance"

[Asia Economy Reporter Haeyoung Kwon] Jin Ok-dong, CEO of Shinhan Bank, urged executives and division heads to become 'people managers' who evaluate not just simple sales performance but the process of employees' performance execution, emphasizing the importance of settling the newly introduced 'Growth Together Evaluation System.'

On January 2, the first business day of the new year 2020, Jin made these remarks at the first quarter executives and division heads workshop held at the head office in Jung-gu, Seoul, attended by executives and division heads.

During the workshop, preparations for the early establishment of the newly introduced Growth Together Evaluation System were shared. They also reviewed last year's performance and discussed strategies for key business sectors such as retail and corporate to ensure successful sales this year.

Jin said, "The core of the Growth Together Evaluation System is process evaluation, which is a motivation process for employees and an evaluation of work methods and people. I ask the leaders here to innovate the past where only results were evaluated and to look at what processes employees went through to achieve their results. Now, please become 'people managers,' not 'sales managers.'"

Process evaluation is a qualitative assessment method that observes, records, and coaches the efforts and processes involved in achieving performance, such as establishing and executing sales strategies. Shinhan Bank will replace the existing performance evaluation method, which quantitatively assessed sales performance based on achievement rates, with process evaluation starting this year.

Jin also urged efforts to promote horizontal communication, such as narrowing the gap between ranks.

He encouraged, "People who climbed the mountain to watch the sunrise on New Year's Day were standing facing east and looking at the sky despite not being able to see the sun due to snowy weather. This is 'hope.' Although the Growth Together Evaluation System may seem difficult, if we empathize that this is the direction we must go and everyone looks in the same direction, we can achieve it."

In addition, Jin adapted to changes in the work environment by boldly omitting the traditional New Year's ceremony held at the head office where employees gathered, replacing it with a time for communication where departments and branches shared their New Year's wishes and greetings. The New Year's address, which was usually delivered at the ceremony, was communicated to employees via the internal bulletin board. Furthermore, after the workshop, Jin visited the 20th-floor employee cafeteria at the head office to personally serve the lunch menu, rice cake soup, and spent time exchanging New Year's greetings with employees.

This content was produced with the assistance of AI translation services.