Citibank Performance Evaluation free essay sample

In today’s society consumers want it quick, fast, in a hurry and they are not willing to wait. Customers are becoming more demanding and critical when not having their expectations met. It is important company adjusts to the ever changing attitudes and expectation of customers in the market place. Therefore it is a must for company to satisfy their customers. Customers’ satisfaction is the key to the success of any company. James McGaran is the manager in the Financial District office at Citibank; locate in the Los Angeles area. Citibank is a niche player and pride themselves on building a profitable franchise by providing relationship banking combined with a high level of service to its customer† (Harvard Business School. 1997, pg. 1). Mr. McGaran is an exceptional manager and his performance exceeds expectations with the exception of customer satisfaction. Mr. McGaran scored â€Å"below par† on customer satisfaction. It a must Mr. McGaran take correction actions to improve customer satisfaction in his division to bring his rating above par. Describe the approach you would take in your performance feedback session with James. What would you say, in what sequence would you say it, and what information would you reference to back up what you are saying? The approach I would take in my performance feedback session with James is to conduct a one-on-ones session. I would make sure the performance feedback session is a two-way conversation. I will share my insights as well as listen. Organization goals My feedback session will begin with discussing the organization’s focus, short and long-term goals for the future. I will present James with details, information and reports that I will discuss in the meeting. I will review James job description and performance areas. James will have an opportunity to comment on his behavior and productivity. Strength I would highlight where James has exhibited exceptional work and I would like to see more examples of this level of work in the future. I would discuss with James how the company is very pleased with the job he is doing with the 31 branches and his performance has exceeded above expectations. â€Å"His financial result for the company is outstanding, with 20% above target and he has generated the highest revenue and made the greatest margin contribution to the business of any branch in the system† (Harvard Business School. 997, pg. 4). In addition, James has managed to delivered impressive financial results for four years in a row. Weakness I would explain to James I am concern about his below par in customer satisfaction. I understand his â€Å"branch is the largest and toughest branch in the division and he has demanding clientele, challenging competition and sometimes it can be difficult t o manager such a diverse set of indicators† (Harvard Business School. 1997, pg. 4). I would give James a chance to comment and voice his concern. I would discuss how valuable the customers are to the company and customer satisfaction is the key to the long term success of his division and our company future. I would also explain, I have outlined the company’s performance expectations and we missed a couple of targets. I will ask James what problem or concerns he has and what he thinks is interfering with customer services. James and I will review them together and come up with an action plan for improvement. This will ensure James that I am working with him and not against him. Career progress I would inform James his career is on the right path and the company knows he is a hard worker and he did improve his customer satisfaction rating last quarter. The company has notice and documented the changes he made in his staff, â€Å"by greeting the customer when they arrive and helping customer with problem† (Harvard Business School, 1999, pg. 4). I would let him know I am please with him taken the necessary steps by implementing meeting and coaching his employees to focus on improving customer satisfaction. Overall he has done a great job and he has a great future with the company and what is his next step to continue to improve customer satisfaction. Wrap Up I would wrap up my performance feedback by mentioning the company’s short and long-term goal. I would explain to James he has a key role in helping the company reach their goals. I would encourage James to continue to work hard at improving his performance levels. I will ensure James I will work with him. Assume that as a result of your extraordinary performance in MBA 6220, Citibank California has employed you as a consultant to improve its performance evaluation system. Using specific information from this course, what changes in their processes and procedures would you recommend? As a consultant to improve its performance evaluation system, I would recommend performance evaluation is given quarterly instead of annually. Jack Welch states, â€Å"The problems with an annual performance review are numerous. If you only do something once a year, you never get good at it. And annual reviews tend to be stressful for reviewers and reviewed alike—not just because it’s such a rare event, but because of when it occurs† (Welch, 2005). By given performance evaluation quarterly employer will have an opportunity to assess their employees’ contributions to the organization and bad behaviors can be quickly address and corrected actions can be taken to insure employees are performing at their best. The performance evaluation system that I would implement will be consistent and fair and will provide a measurement of an employees’ contribution to the workforce, appraisal documentation to protect both the employees and employer. The performance evaluation would consists of quality of work, quantity of work, work habits, attitude, job knowledge and skills, attendance, customer service skills, people skills, ability to motivate, ability to provide direction, overall communication skills, ability to build teams, ability to solve problems, rate the employee overall performance, what he/she area needs improving and recommendation. If there is a category that doesn’t’ pertain to the employee then N/A would be insert in the box. Absolute standard evaluation system I would implement the absolute standard evaluation system, because it assesses employees under different criteria and standards and no comparison is made between employees. This system evaluates the skills and achievements of the employees as well as their communication, behavior and reliability (Howard, 2010). Balanced Scorecard I will use a Balanced Scorecard as performance measures. Balanced Scorecard is â€Å"an approach that utilizes the 4 focus points of performance measurement, Customer, financial, internal process, and learning and growth perspective. The Balance Scorecard aligns business activities to the vision and strategy of the organization; helps improve internal and external communications, and monitor organization performance against strategic goals† (Balanced Scorecard Basics, 1998). By using this approach management is able to see the big picture of the overall view of the company performance. Benchmarking It is important for a company to know what their competitors are doing. I would use Benchmarking. Benchmarking allows the organization to compare itself with their competitors. 60-degree (Balanced Scorecard Basics, 1998). I would use the 360-degre feedback. 360-degree is feedback that comes from all around an employee. Feedback is provided by subordinates, peers, and supervisor. It also includes a self-assessment and, in some cases, feedback from external sources such as customer and suppliers or other interested stakeholders† (360-Degree 2011). This technique provides employees the opportunity to receive p erformance feedback from supervisor, peers, staff members, coworker and customers. It provides insights on employees’ skills and behaviors. Conclusion In conclusion the primary object for performance evaluations is to provide employers with an opportunity to assess their employees, make sure they are performing to the best of their abilities, to provide employees with feedback on what is expected of them and to ensure that goals are being met in an effective and efficient manner. That why it is important to implement a good performance evaluation. Companies must keep in mind when implementing a performance evaluation system it should be consistent and fair, and provide a measurement of an employees’ contribution to the workforce.