City BANK performance evaluation

City BANK performance evaluationGROUP 11

New Performance Scorecard

Objective To highlight the importance of a diverse set of measures in achieving the strategic goals of a division

Measures :Financial Total revenue / Profit MarginsStrategy Implementation Target customer segment & corresponding strategyCustomer Satisfaction Branch service + CitiBank service. Leading indicator of future financial performanceControl Measures Internal control processes. Below 4 rating considered as Business at riskPeople and Standards Non-quantifiable. Proactive efforts and involvement of manager

Categories : Below par - No bonusPar Upto 15% of basic salaryAbove par Upto 30% of basic salary

Performance evaluation of james McGARANJames joined CITIBANK as ABM in 1985 and by 1992 was managing Financial District officeJames was the manager of most important branch out of 31 in Los AngelesStaff 15 / Revenues - $6 million / Profit Margin - $4.3 millionFinancials 20% above target / Greatest margin contributionStrategy implementation was in par to above par rangeAbove par rating in control scorecardBranch received two 5 audit ratings in 1996Branch rated #1 in the market placeExcellent people managerControl, People & Standards above par in every quarterCustomer satisfaction below par to par

Challenges for james mcgaran

Largest and toughest branch in the divisionCustomer base was very diverse, demanding and challengingSophisticated customers demanding high service qualityCustomers expected knowledgeable employees who could satisfy their financial needsCustomer rated not only branch but also services which were out of branch managers controlBank of America & Wells Fargo had offices in the proximity of James branch

RecommendationsAssign different weightage to different measuresGive the branch managers the margin of 2 years to adhere to new performance scale Separate the ratings of services that are under the purview of Branch Manager and services that are notCategorise the branches as per the scale of business & clientele and modify the scale as per customer segment they serveThus, James should be given above par rating for the year and 2 years margin to show improvement in customer satisfaction

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