• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12
  13. 13
    13
  14. 14
    14
  15. 15
    15
  16. 16
    16
  17. 17
    17
  18. 18
    18
  19. 19
    19
  20. 20
    20
  21. 21
    21
  22. 22
    22
  23. 23
    23
  24. 24
    24
  25. 25
    25
  26. 26
    26
  27. 27
    27
  28. 28
    28
  29. 29
    29
  30. 30
    30
  31. 31
    31

How effective is Citibank at resolving and retaining its staff?

Extracts from this document...

Introduction

"How effective is Citibank at resolving and retaining its staff?" Mohammed Ali Rubie Centre Number: - 11001 Business Studies AQA EXAM BOARD Contents Table Aims and Objectives Page 3 Company History and Background to the problem Page 4 Performance Indicators Page 5-6 Research Methodology Page 7-9 Analysis Page10-21 Appendix Page 22-31 Aims and Objectives Aims To provide Citibank with a report that recommends improvement to recruitment and retention. Objectives 1) To assess the benefit, if any provided by Citibank for its employees. 2) To select appropriate performance criteria for the reasurement of staff performance. 3) Examine and analyse employee perception of the current training provision. 4) Examine and evaluate other factors that may influence staff morale. In order to manage the performance of staff managers I will be using performance criteria: This is a handy measuring tool, which is used as a method by which I will be assessing people's performance and the satisfactions and dissatisfactions of their work. I will also be assessing the performance criteria of their absenteeism and the No of days staff are absent in a period of time. Also I will be checking on productivity and the number of staff measured against output. I will be monitoring the retention rates data and to see how long staffs have worked, whether they are temporary or permanent. Company History and Background to problem The company I am investigating is a subsidiary of Citigroup Inc, Citibank International plc. Specifically I will be looking at the Distribution Division of the Global Consumer Bank in the UK. In the year of 2001 Citigroup hailed its position as one of the most successful financial services in the world. It registered double-digit increases across many lines of business, and a 20% returns on equity. Their main objectives are to establish trusted relationships with consumers, corporations, institutions and governments. They operate for both sectors of businesses, private and personal banking. ...read more.

Middle

Team working, managed effectively, can provide employees better quality and more innovative work at a lower cost and at a faster rate. To achieve such improvements in performance employees must be involved. They must have the ability to contribute and feel they are listened to. Greater participation can help a company like Citibank gain a competitive edge. Although this may be expensive, the outcome may be fruitful. The workers may leave the course happier and wanted and therefore work harder and produce more business for Citibank. 5) Overall, what do you think of the training provided at Citibank? What employees wrote A) Poor 2 B) Below Average 1 C) Average 6 D) Above Average 4 E) Excellent 0 Most of the employees at Citibank rated training as only average. I discussed this topic in more detail in question four and discussed the different approaches that could be taken. Even if changes were implemented correctly, I would hope that if I was to ask the same question to staff in six months, the majority might answer that training is Excellent. Below is a pie chart, which I created to show my results from question five: - 6) What keeps you motivated at Citibank? Nine out of the thirteen that answered said that the salary they are on is what keeps them motivated. There were no other factors involved in keeping the staff happy. Three workers said that they survive by motivating themselves and only one claimed that he was there only to do a job. Three things influence the motivation of staff in practice: * The company culture. * Its approach to managing its people * The financial reward systems. Company culture means the accepted set of attitudes and habits within an organisation-its ethos. Every business has its own culture, and Citibank is no different. Within an hour of sitting in the office with Mr Childs, jokes aside I set out to work hard throughout the week. ...read more.

Conclusion

"Yes...there should be profit sharing and quarterly bonus as well." 1 Question 10- Are you offered any financial incentives such as bonus schemes or awards? 1) No 'Profit share bonus' 2) Yes 'But I rely on other staff members to gain them' 3) Yes 4) No 5) Yes 6) Yes 'Same Pay rise for the last 3 years' 7) Yes 8) Yes 'chances of promotion' 9) No 10) Yes 11) Yes 'Small Bonus scheme' 12) Yes 'Bonus' 13) Yes 'if you meet your targets.' Question 11- Do you feel Citibank has effective managers within branches? 1) No 'Not people to be inspired or motivated by' 2) Yes 3) Yes 4) Yes 'there are effective managers, certain parts of their role.' 5) Yes 6) No 'should be more hands on... should be available to staff and clients' 7) Yes 8) Yes 'management team have progressed into their positions.' 9) '50/50' neutral anomaly 10) No 'Some people are not right for the job.' 11) Yes 'involve themselves more.' 12) Yes 13) No 'some are almost effective, some are not at all.' Question 12- Would you recommend your friends to work for Citibank? 1) No 2) 'Maybe' 3) Yes 4) Yes 5) Yes 6) No 7) Yes 8) Yes 9) Yes 10) No 11) No 12) Yes 13) Yes 'Higher starting salary compared to high street banks' Question 13-What, in your view, could Citibank do to improve your working environment? 1) 'Friendlier' environment. 2) 'Extra staff' i.e. job recruitment. 3) 'Better pay' 'Invest more funds into branches' i.e. DIY 4) 'For managers to motivate staff in meetings, not de-motivate'. 5) 'Manager more available to staff and customers' 6) 'Technology' IT 'Bad customer service i.e. only one 7) Nothing. 8) 'Technology' IT 9) 'Invest in IT' 'launch 10) 'Listen to staff.' 'Team environment' needed. 11) 'Stop raising targets + removing staff' 'finish jobs/DIY' in branches. 12) More money in branches e.g.: Space, heating, air conditioning system 13) 'Better benefits, availability of managers for customers and staff' 1 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE People in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE People in Business essays

  1. Gulf States Metals Inc. (GSM) is a large nickel refinery plant that has suffered ...

    politics to gain support and rely on the fact that there is an urgent need to turn the organisation around. Through a mapping of the political terrain, it becomes clear that support could be sought from the Engineering Director, who believes in changing the current approaches, and adopting a more people-oriented management style.

  2. The Boots organisation is a public limited company (PLC).

    For example telling a worker to do a major task and he or she is told by a little post it note, he or she will feel therefore disrespected and approach the task in a negative attitude. * Wrong target for message This is when a message is delivered to a wrong person i.e.

  1. This is a report on Marks and Spencer a well known retail company in ...

    � Working environment � Existence of fringe benefits � Recognition of the importance of the work by others � Nature of the tasks undertaken at work � Degree of job security � Promotion prospects � Management styles � Organisational culture BTEC National Certificate In Business Business and management Task 6

  2. GCSE Applied Business - Strand B Theory

    For example, if a person within the business accidentally downloads a virus, then admin and ICT will need to know and they will then be able to sort out the problem.

  1. Analysis of a Contract Specific Organisation

    conditions but cost-effectively; * achieve a satisfying experience for end-users of all types including people with disabilities. * ensure users, other stakeholders and opinion-formers are involved in and committed to the solutions; * organise adequate resources are available to support and deliver the commission, whether part of the fixed fee

  2. Business at Work - ASDA

    This 'Daily Huddle' also ensures that staff are kept happy and feel their thoughts, feelings and suggestions are valued by management. Such means of communication ensure that problems are dealt with very early on as opposed to being allowed to gradually build into a situation which could potentially be disastrous or cause much upset later.

  1. Produce a case study comparing two business organisations, investigating the extent to which each ...

    Nutrition Panel This tells you how much energy (Calories and kilojoules) and nutrients are present in the product. Labelling regulations dictate the order and nutrients included here. Energy This can be useful if you are trying to lose weight. Protein You might be surprised how much protein there is in cereals and milk, not just meat and fish.

  2. The stages involved in recruiting new staff.

    Another issue when it comes to advertising is how you advertise. You need your advert to stand out from the rest and still look professional. A balance of these will hopefully maximise relevant applications. A modern way of advertising is on a business's website.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work