Essay on Citibank: Performance Evaluation
Citibank corporate strategy: focused on combining excellent customer service strategy along with relationship banking to build a profitable competitive franchise. Customers were offered the convenience of choosing the type of service delivery, whether personal or remote. But as high end customers become more and more valuable to the bank, their service expectations also went up. Increased service demands included broad array of financial products and careful personal attention. Thus improving customer satisfaction was realized to be of paramount importance for a successful future financial performance. President of Citibank California, Frits Seegers and top managers were …show more content…
Process theories underlie the form (Theories of expectancy, Equity and Goal Setting). To be precise, theory of goal setting fits the case best.
Control mechanisms functioning in the form are that challenging and specific goals improve human performance because they help direct attention, regulate work, increase persistence and foster development of task strategies and action plans.
III. My recommendations for James McGaran`s performance evaluation:
James McGaran consistently received above par ratings in all measures of his Performance Scorecard for all four quarters of 1996 except for customer satisfaction ratings. His customer satisfaction ratings fluctuated from par(score 66 goal 80) in first quarter, to below par (dipping by 3 points) in second quarter, deteriorating by 9 more points in third quarter due to shortage of a teller and another two CBCs to offload the day time traffic in the branch. In the fourth quarter James worked harder and made some changes in his staff to improve the customer ratings. It included a “greeter” for customers upon arrival to the office and helping out with potential problems. Branch meetings were held and branch employees were coached by James to focus their attention on customer satisfaction. His dedication and perseverance led to a big jump from a low score of 54 in third quarter