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Citibank: Performance Evaluation
Transcript of Citibank: Performance Evaluation
Denise Cao James McGaran Problem 3rd Issue 5th Issue 2nd Issue 4th Issue Scorecard focus Recommendations Most profitable branch Expectancy theory Equity theory James McGaran Universal performance measure Assumptions
Motivating factors Performance measures Benchmarking Best practice Competitive Industry standards Strategy implementation Net Present Value Attrition rate New acquisitions Share of wallet Business
Sophisticated individuals People Training Number of training days attended Employee retention rate Customer service rates Performance management % of subordinate targets met Employee productivity Teamwork # days since last complaint Finance Measures Shareholder return Cost per customer Economic value added Objectives Improve employee satisfaction Increase employees' technical skills % of tasks completed on time % of tasks late due to precursor task delayed
Average delay Strategy Map Profitability Customer satisfaction Labor time per new customer
Labor time per request
Capacity utilisation of each employee Operate in the Financial District of LA
Highly demand of Sophisticated Retail Banking Business Performance scorecard No adequate measures in place for individual sections James' bonus Internal focus Evaluation team BANK OF AMERICA WELL FARGO & CO CitiBank Background of The FD Branch Financial District In L.A. Manger of the branch
Above par Financial achievement every year
#1 in Revenue grow and CM Before new performance Measurement Ranking #1 James McGaran Under new performance scorecard Financial
Standards 1st issue Citibank needs to change the way it assess its performance if things are to improve Summary By following the measures that we have recommended, Citibank will be able to implement the necessary changes Problems stem from set-up of Performance Scorecard Additionally, giving James the bonus negates the new importance placed on "Customer Satisfaction"