Citibank Performance Evaluation Case Study
1. Analysis of the Citibank’s new evaluation system In order to deeply understand the Citibank’s new performance evaluation, first we need to clarify the purpose of Citibank’s introduction of the new performance scorecard. It’s basically an attempt to highlight the importance of a diverse set of measures instead of the single financial performance in achieving the strategic goals of the division. Specifically, from Frits Seeger’s point of view, the high service quality strategy and other dimensions were critical to the long-term success of the franchises. The customer satisfaction and strategy implementation indicators, therefore, were introduced into the new performance scorecard. Consequently, the new scorecard has consisted
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- The scorecard still lacks the “leaning and growth” perspective that plays an important role in the balanced scorecard. This measurement is particularly significant for James’s branch due to the intensive competition in that financial district area. For the interest of long-term growth of the branch, Citibank California would consider to add another measurement of growth of market share for branches.
2. How to deal with Lisa’ dilemma From my point of view, under the current company’s written policy, Lisa shall give James “par” rating for annual evaluation. First it keeps the consistency of company’s policy and shows the attention to non-financial measurements given by company. Second it will not hurt moral and set bad model among the other over 30 branch managers who may have conflict opinion if James receives an “above par” rating. Thirdly, James’ branch also needs to improve its customer satisfaction more for long-term success.
3. Recommendations for Citibank’s evaluation scorecard
-The company would add more perspectives to improve its scorecard more fair and comprehensive. For example, the market shares growth, turnover rates and competitive power against its rivals.
-Improvement of evaluation process is firstly needed. The company would apple more than one method to generate the customer satisfaction score instead of single telephone interviews. They could add randomly face-to-face interview among branch’s customers, use mystery