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Professional Background and Role at PNB
Fazila Banoo Manzur Elahi, Head of Performance & Rewards, Permodalan Nasional Berhad
I have over 20 years of experience in human resources, specializing in performance management, strategic rewards HR transformation. At Permodalan Nasional Berhad (PNB), I lead the development and implementation of a comprehensive performance and rewards strategy to drive workforce performance, long-term growth employee engagement. My role focuses on integrating performance management with rewards, optimizing organizational design overseeing wellbeing initiatives to create a transparent, fair data-driven HR ecosystem that enhances motivation, retention business success.
Common Pitfalls in Performance and Rewards Programs
A well-structured performance and rewards system is critical for business success, yet organizations often struggle with fairness, alignment impact. Lack of clear performance differentiation leads to subjective assessments and disengagement, which can be mitigated through structured performance calibration to distinguish high performers from steady contributors and those needing improvement. Misalignment between performance and rewards also creates challenges when employees do not see how their contributions impact rewards and career progression, making it essential to establish a transparent link between outcomes and rewards.
Over-reliance on KPIs and numerical metrics can overlook leadership, collaboration behavioral contributions. Organizations should integrate core values into performance assessments to ensure a more holistic evaluation. Infrequent feedback can leave employees disconnected from expectations, so shifting from annual appraisals to continuous feedback and real-time coaching fosters better engagement. Lack of transparency in evaluations can also erode trust, which can be addressed by setting clear expectations at the start of the year and standardizing assessments through calibration sessions.
“HR professionals excelling in performance management and rewards must master analytics and data-driven decision-making, as the ability to analyze workforce data, predict trends optimize rewards strategies will be a major differentiator in shaping HR’s future”
Finally, a one-size-fits-all rewards system may not appeal to a diverse workforce, making it necessary to balance standardized benefits with flexible options that allow employees to customize rewards based on their needs.
The Role of Technology in Performance and Rewards
Technology has made performance and rewards management more structured, data-driven transparent. Our HRIS performance module allows employees and managers to track progress, set goals, conduct check-ins complete holistic assessments that integrate both KPIs and core values alignment. It provides team-level insights for managers and enterprise-wide trends for top management.
While performance management is digitized, monetary rewards like bonuses and increments are still managed using in-house tools, including a specialized Excel model developed by rewards specialists to ensure structured and fair compensation decisions. The HRIS module also enables data-driven insights, allowing the Talent & Development.
Customizing Rewards for a Diverse Workforce
A standardized rewards approach may not effectively retain and motivate a diverse workforce, as employees have different priorities, from financial incentives to career growth, work-life balance wellbeing. At PNB, we adopt a hybrid approach, combining standardized benefits like medical coverage and leave policies with flexible benefits, allowing employees to allocate rewards based on personal needs such as healthcare, education, or lifestyle perks.
To ensure fair differentiation, career development opportunities, leadership exposure mentorship are prioritized for high performers while being accessible to all employees based on their growth potential and contributions. Our holistic wellbeing initiatives integrate flexible work, mental health programs career mobility support, ensuring rewards align with individual needs while enhancing engagement, retention overall employee satisfaction.
Emerging Trends in HR and Rewards
The future of performance management and rewards is evolving to meet workforce expectations and business needs. Organizations are adopting structured and transparent evaluations to ensure fairness and consistency while expanding assessments beyond KPIs to include leadership, innovation collaboration for a more holistic approach.
AI and predictive analytics are increasingly shaping performance management, helping companies identify high-potential talent, track progress predict turnover risks. These insights are also guiding career pathways for fresh graduates and early-career employees. Organizations are placing greater emphasis on wellbeing and work-life balance by integrating mental health initiatives, flexible work career sustainability into rewards strategies.
Some organizations are moving away from traditional performance models, shifting to agile, feedback-driven approaches that emphasize continuous coaching, projectbased assessments real-time tracking. While this enhances flexibility, it must still support structured career progression, fair recognition business alignment.
Advice for Aspiring HR Professionals
HR professionals excelling in performance management and rewards must master analytics and data-driven decision-making, as the ability to analyze workforce data, predict trends optimize rewards strategies will be a major differentiator in shaping HR’s future. Understanding how performance links to compensation, recognition career growth is essential, along with leveraging predictive analytics to anticipate workforce shifts.
Balancing business needs with employee expectations ensures that rewards strategies align with organizational goals while driving engagement and motivation. Keeping pace with AI-driven talent management, workforce personalization wellbeing strategies is crucial for long-term success. By integrating strategic HR expertise, analytics employee-centric approaches, HR professionals can make a lasting impact on their organizations.
Performance management and rewards will continue evolving to be more data-driven, flexible personalized. Organizations must balance structured differentiation with customized rewards to ensure fair recognition and business alignment. As HR transformation accelerates, leveraging analytics, technology tailored rewards will be key to fostering a high-performing, engaged workforce.
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