Case Stduy on Citibank Performance Management

This case revolves around the performance evaluation process at Citibank and the introduction of a new performance scorecard. The meeting is between the President of Citibank, California and his management to discuss the performance evaluation and bonus decisions for James McGowan, the star performer of the branch James career with Citibank has been a quick progression through the ranks from the assistant branch manager to the manager position.

His performance exceeded expectations In every single year especially financial results which have been truly Impressive. The company introduced the new performance scorecard which reflected the company’s broadening of the evaluation scope to customer satisfaction score. Frits Seekers, President of Citibank California, was convinced that customer satisfaction indicator was important not only for meeting ever-increasing expectations of highly-sophisticated clients, but also for achieving strategic goals of the division, and staying competitive.

Performance of James was impressive in all the dimensions except Customer Satisfaction which is an important dimension for assuring overall performance especially in banking sector Objectives 1. Understanding the Importance of performance scorecard, why In the first place It is implemented, does it fit the company’s strategy, how does it work and what will the company as well as its employees derive out of that performance evaluation system? 2. Understanding all the components of the performance evaluation system, their relevance and importance to the system and on what parameters the components involved will be assessed. . Bringing In objectivity to the components Involved In the performance evaluation yester because any component with subjective evaluation can lead to an ambiguous result and hence can show negative effect on the incentives and other related areas. Problems Performance evaluation of James McGowan. Lames McGowan was the manager of most important and difficult branch- Los Angels of the Dillon. HIS overall performance and rating was very good and he also generated the highest revenue In the company. But only problem was his low rating in customer satisfaction.

So it was difficult for Lisa Johnson to give final recommendations. ; Flaw in customer satisfaction indicator. As it was newly introduced by the company, It did not had any specific grounds on which the employee was to be rated. There was need to bring some objectivity In the system for its proper application. Theoretical Concepts 1 OFF In Citibank’s new Performance scorecard, six measures were included biz. Financial, strategy implementation, customer satisfaction, control, people and standards. The objectives were focused on what the company needed to do in order to accomplish its strategic goals.

The metrics of a performance scorecard deal with actionable and negligible measurements which help in achieving the objectives of an organization. Targets are set initially and these are the expectations set against the strategic goals which need to be fulfilled so as to progress. The importance of customer satisfaction in today’s business environment: The level of satisfaction a customer has with an organization can have profound effects on revenues. Studies indicate that a totally satisfied customer contributes 2. 6 times the revenue than a satisfied customer and about 17 times the revenue as a somewhat dissatisfied customer.

Apart from the monetary benefits, customer satisfaction leads to building a brand image and trust among them. This helps the organizations in achieving their strategic goals in long-term. Hence, this vital component should be explained to James as to make him understand why Citibank had introduced the ‘customer satisfaction’ measure in their performance scorecard. Performance planning: This helps in providing a structured approach for attaining the desired level of performance for both individuals and teams. Performance planning should have an initial performance plan and a performance improvement Lana.

An initial performance plan identifies the specific goals for development, performance measures, actions needed to achieve goals and an indication of time required to achieve them. A performance improvement plan conveys the area of performance that needs improvement, the actions to be taken, timeshare for achieving each action, review method of performance improvement and when performance improvement will be evaluated. Hence, a proper performance planning should be done before introducing any new component in the appraisal process.

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with MyStudyWriters
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Business Studies
Thank you very much for a good job done and a quick turn around time.
Customer 452615, March 31st, 2021
Business and administrative studies
excellent job thank you Your Score 166.25/ 175- A 1. Current Culture 15% of total grade 18.37 Criterion "1. Current Culture" has textual feedback Criterion Feedback I see interesting points, though, in general they are not about the culture.
Customer 452773, June 4th, 2023
Business and administrative studies
Customer 452773, February 23rd, 2023
Criminal Justice
The paper was not accused of plagiarism and was written very well. I will let you know the grade once it is graded. Thank you
Customer 452671, April 26th, 2021
Don't really see any of sources I provided, but elsewise its great, thank you!
Customer 452697, May 8th, 2021
Business and administrative studies
Excellent job
Customer 452773, March 17th, 2023
Love this writer!!! Great work
Customer 452597, April 5th, 2021
Business and administrative studies
great job as always
Customer 452773, February 26th, 2023
10th grade English
very good
Customer 452773, March 26th, 2023
Business and administrative studies
always perfect work and always completed early
Customer 452773, February 21st, 2023
English 101
great summery in terms of the time given. it lacks a bit of clarity but otherwise perfect.
Customer 452747, June 9th, 2021
Social Work and Human Services
Great work I would love to continue working with this writer thought out the 11 week course.
Customer 452667, May 30th, 2021
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat

Sometimes it is hard to do all the work on your own

Let us help you get a good grade on your paper. Get professional help and free up your time for more important courses. Let us handle your;

  • Dissertations and Thesis
  • Essays
  • All Assignments

  • Research papers
  • Terms Papers
  • Online Classes
Live ChatWhatsApp