An important aspect of a results-based management system is that results feed into corporate incentive systems at all levels:
IFC's Corporate Scorecard holds Senior Management accountable to our Board and shareholders for IFC’s performance in the areas of development impact, client satisfaction, and financial performance. Development results targets are agreed with our Board at the corporate level, reflecting IFC’s five strategic priorities.
Departmental and Director Scorecards reflect corporate strategy. Departmental scorecards measure and compare performance among investment departments, and draw on data from the Development Outcome Tracking System (DOTS). These scorecards aim to align the incentives of IFC’s departments with IFC and World Bank Group strategic priorities.
Staff and Manager Performance. Directors evaluate managers in alignment with departmental scorecards, and managers, in turn, evaluate staff according to objectives to meet unit goals. This year, the corporate and investment stream competency frameworks have been revised to incorporate development results and improve staff accountability.
Long-term performance awards. Recognizing that development results take time to materialize, IFC also introduced, in 2004, long-term performance awards to recognize outstanding teams and individuals based on the actual development results of projects staff brought into the portfolio 5-8 years earlier. In FY09 IFC suspended the program in response to the change in market conditions and for IFC’s own financial prudence. Once the business climate and IFC’s financial results have improved, IFC will review the suspension and also introduce improvements.
By linking corporate and individual incentive systems to development results, IFC aims to drive performance improvements and strengthen accountability - focusing the entire Corporation on development results.