SYSTEM OF REWARDING AND MOTIVATING THROUGH THE PROCESS OF EVALUATION AND DEVELOPMENT OF EMPLOYEES

Paper is inspired by vague and somewhere confusing bonus payments by MBO system that often led to dissatisfaction of the employees in the UniCredit group, whose group policies in the domain of HR are based on the mentioned concept. In close coleration with the Group's human resources department official data, research has proven that badly designed objectives and following targets for non-sales services where it is easier to set up tasks, led to vague understanding of company's goals and bussiness projections. The paper doesn't only disclose the results of the study based on the relevant data, but also offers guidance on how to overcome specific problems. In addition, this paper provides a specific matrix that combines the well-known SWOT analysis and the SMART principle (i.e. concept) of determining the objectives, from the perspective of the company as well as from the employee's point of view. Through this complex prism, the applicable example of the functionality of the matrix is given, as an way of increasing the staff efficiency and strengthening the company competencies. Regarding the research results, it is clear that the company and the employees should join forces to access new markets or at least preserve the existing positions.