FOR ICDC 2016

fINANCE OPERATIONS RESEARCH EVEnt

Skyline DECASkyline High School

1122 228th Avenue SoutheastSammamish, WA 98075

Thomas BowlerJarod Bleiweiss

JANUARY 11, 2016

Table of Contents

I. EXECUTIVE SUMMARY 1

II. INTRODUCTION 3

III. RESEARCH METHODS USED IN THE STUDY 7

IV. FINDINGS AND CONCLUSIONS OF THE STUDY 14

V. PROPOSED STRATEGIC PLAN 21

VI. PROPOSED BUDGET 28

VII. BIBLIOGRAPHY 30

B o w l e r | 1

I. EXECUTIVE SUMMARYDescription of the Business: Edward Jones is an investment firm headquartered in St. Louis, Missouri, assisting their seven million clients throughout their 11,000 locations nationwide with long-term financial goals such as mortgages, retirement savings, and education tuition. The investment firm stands apart in excellence due to its philosophy of developing strong relationships with their clients to make their experience with Edward Jones memorable. Edward Jones has an unprecedented revenue of $6.3 billion as well as consistently ranking among the top 10 investment firms in America according to Fortune Magazine.

Current Employee Engagement Strategies:Edward D. "Ted" Jones Jr. was the son of founder Edward D. Jones. Ted Jones made a monumental decision to change the ownership of the company from a closely held private partnership to a partnership for a majority of the employees to earn "partner" with the firm. The ability to be an owner in this company is a huge benefit and typically makes the employees highly motivated toward a greater level of success. The employees buy into the culture and the philosophy, especially when their compensation is directly linked via ownership in the company.

Edward Jones’ Current Employee Engagement Strategies Travel Award Program Performance Communications Summer Regional Meetings Feedback Opportunities

Research Methods:

Research Goals1. Align the engagement goals of Edward Jones with the employees of the business.2. Examine the current employee engagement strategies at Edward Jones and their effectiveness.3. Understand the best methods to establish an improvement in Edward Jones’ employee engagement strategies.

Research MethodsSurveys:

Branch Employee Online Survey Human Resources Division Online Survey Recruitment Division Online Survey

Personal Interviews: Alexis Jordan, Human Resource Manager Laura Cook, Assistant Branch Recruitment Director Dino Guzzetti, Financial Advisor at Sammamish Branch David Bleiweiss, Financial Advisor at Issaquah Branch

Focus Groups: Human Resource Division Focus Group Branch Employees Focus Group

Secondary Research: Past company reports Evaluations of competitors and other businesses’ employee engagement strategies Internet sources: LinkedIn, Company website, and Forbes Employee engagement books

Findings and Conclusions:

F i n a n c e O p e r a ti o n s R e s e a r c h E v e n t B l e i w e i s s , B o w l e r | 2

Conclusions Based on the Findings1. Edward Jones’ employees are motivated through accomplishing tasks as opposed to monetary values2. The limited number of employees in each Edward Jones’ branch limits bonding in the collective work environment3. Employees love working for a company that is socially responsible4. Edward Jones’ workforce lacks Generation Y employees in the employee base5. Edward Jones’ recruiting process is not compatible for potential Generation Y employees6. Relationships between Edward Jones’ managers and employees are not strong7. Edward Jones’ employees want to feel appreciated by their managers

Proposed Strategic Plan:

Overarching Goals of the Proposed Strategic Plan

Specific Aims of the Proposed Strategic Plan 1. Enhance corporate social responsibility at Edward Jones 2. Increase generation Y’s share of employees in the Edward Jones workforce 3. Empower value of employees to optimize employer-employee relationships

Objective Activity Year 1 Cost Year 2 Cost Year 3 Cost1 Support Charities $11,500,000 $11,500,000 $11,500,0002 College Career Services $700,000 $700,000 $700,0002 Generation Y Recruiting $520,000 $520,000 $520,0003 Employee Resource Groups $4,500,000 $4,500,000 $4,500,0003 I/O Psychologist Hiring $6,781,320 $6,781,320 $6,781,3203 Regional Manager Visits $16,250 $16,250 $16,250

Subtotal $24,017,570 $24,017,570 $24,017,570Total Investment Cost $72,052,710

II. INTRODUCTION

Theory X Theory Y0

10203040506070

Which motivational theory applies to the employees in the work environment?

Theory Name

# of

resp

onde

nts

Increase productivity by

15% in three years

Reduce turnover by 5% in three

years

Decrease defects by 20% in three

years

Daily Weekly Monthly Yearly0

20406080

100

How often do you see your manager/supervisor?

Time frame

# of

resp

onde

nts


A. Description of the business or organization

In 1922, Edward D. Jones Sr., a long time native to the state of Missouri, founded the successful investment

services firm, Edward Jones, which stands apart with its excellence and consistent high-achievement in revenue of $6.3

billion to this day.1 During the establishment of Edward Jones in St. Louis, the company’s headquarters to this day, Mr.

Jones’s eyes were set on assisting clients with long-term investments throughout the world. The founder of this

investment firm would not be disappointed in years to come as Edward Jones has reached the top 10 investment firms in

the United States each in the last 11 years according to Fortune

Magazine.2

Each Edward Jones office is usually staffed by two

qualified associates: one Financial Advisor and one Branch Office

Administrator. The one-broker-per-office model allows clients to

directly choose their broker and also permits the investment firm to

open offices in areas and towns where a large office staffed by

many brokers would be unprofitable. Following this business

model has allowed Edward Jones to expand immensely, being

incorporated of 35,000 employees, 11,000 locations, and building over 7 million clients worldwide, providing more

branch-office locations than any other brokerage in North America3.

Long-term investments can be very challenging and stressful for many individuals worldwide, but Edward Jones

is a decidedly different kind of investment firm as the mission is to help clients reach their long-term financial goals.

Edward Jones provides clients with a financial advisor who will meet with the individual face to face to discuss their

current financial situation and determine the specific needs of them as well. Edward Jones comes to conclusions on

clients’ needs and how to reach goals on a consistent basis. The most common needs that Edward Jones faces are

preparing for retirement, living in retirement, preparing for the unexpected (being laid off, need of expensive surgery,

etc.), paying for education, and planning estate and inheritance. Each of these needs concern important long-term

financial problems that unfortunately cause 18.5% of individuals worldwide to go bankrupt.4

1 https://www.edwardjones.com/en_US/different/history/index.html 2 http://fortune.com/best-companies/ 3 https://www.edwardjones.com/cgi/getHTML.cgi?page=/en_US/fa/index.html 4 http://www.uscourts.gov/FederalCourts/Bankruptcy.aspx

~Facets of Client Discussions

http://www.uscourts.gov/FederalCourts/Bankruptcy.aspx

https://www.edwardjones.com/cgi/getHTML.cgi?page=/en_US/fa/index.html

http://fortune.com/best-companies/

https://www.edwardjones.com/en_US/different/history/index.html


B. Description of the community (Economic, Geographic, Demographic, and Socioeconomic factors)

While Edward Jones’ headquarters are located in St. Louis, Missouri, the investment firm derives a majority of

its success from its numerous locations throughout the United States. The following economic, geographic, demographic,

and socioeconomic factors pertain to the United States as a whole.

Economic: Edward Jones benefits from the rising

economy of the United States since the most recent

recession in 2008. Not only has the nation seen immense

improvement in the unemployment rate, but The United

States is the world's largest national economy,

representing 22% of nominal global GDP and 17% of

global GDP (PPP). The United States' GDP was estimated

to be $17.710 trillion as of Q1 2015.5

Financially speaking, Edward Jones will further continue its success as Finance Companies are rising in

Consumer Credit as seen in the graph on the right. Furthermore, the percentage of families holding a financial asset of

retirement accounts has increased from 21.5% to 42.7% from 1989 to 2015.6 The appealing economic state of financial

businesses creates a favorable opportunity for Edward Jones to engage its employees to continue the legacy of greatness

that makes the investment firm stand apart in excellence in the finance industry.

Geographic: As mentioned in the beginning of this section, Edward Jones’ headquarters are located in St. Louis,

Missouri. Edward Jones does not only strive in the state of Missouri, but across the entire nation through its branch

network of over 11,000 locations nationwide. Edward Jones holds some offices in Canada and also had locations in the

United Kingdom for 10 years, before selling the division to Tory Law in 2009.

As the United States stands as the third largest country in terms of land area, the potential for further expansion

of Edward Jones offices will continue. Transportation remains very accessible and convenient in the United States

whether it is interstate or international travel. Edward Jones benefits from major highways that stream throughout the

U.S. like I-90 (West-East) and I-5 (North-South), which constitute for a portion of the 157,724 mile long U.S. highway

system. Furthermore, the United States 5 http://data.bls.gov/timeseries/LNS14000000 6 http://www.allcountries.org/uscensus/792_financial_assets_held_by_families_by.html

2012 2013 2014 2015

676.4680

688.7691.5

Finance Companies Consumer Credit

YearD

olla

rs (B

illio

ns)

http://www.allcountries.org/uscensus/792_financial_assets_held_by_families_by.html

http://data.bls.gov/timeseries/LNS14000000


borders the Atlantic and Pacific Oceans, creating a favorable opportunity for the nation to trade with foreign countries,

ultimately strengthening the United States’ economy (Demonstrated in the previous subsection).

Demographic: As of June 26, 2015, the United

States has a total resident population of 321,160,000,

making it the third most populous country in the world. The United States is very urbanized, with 81% of citizens

residing in cities and suburbs as of 2014 (The worldwide urban rate is 54%)7. Edward Jones has a tremendous

opportunity to capitalize on the abundance of urban residents as over 2/3 of the investment firm’s branches are located in

cities. The rise of the nation’s population since 1990 closely correlates with the rise of clients at Edward Jones, making it

a favorable trend for the business’ future. With potential for a continuation of Edward Jones’ client base, the investment

firm is and will be an encouraging and engaging business for current and future employees.

Edward Jones has enjoyed experiencing the nations’ growth in average income, which has tripled since 1930 as

it currently sits at approximately $52,0008. Higher income directly correlates with higher living standards for the U.S.

population. The nation’s wealthy inhabitants make the United States a perfect area to recruit employees with both the

resources and a predisposition towards philanthropic organizations such as Edward Jones.

Socioeconomic: In terms of the commission based fees towards

finance and investment firms, in 2012, American consumers

spent an average of $1,700, in 2013, $1,830, in 2014, $1,995, and

in 2014, $2,180.9 Although the money spent towards using

investment firms such as Edward Jones has been increasing since

2010, the money spent towards long-term investments is not as

focused as several other aspects of life such as food, clothing,

healthcare, insurance, transportation, housing, and other miscellaneous items. 84% of Americans do not seriously think

about their retirement and other long-term investments until the age of 37. Additionally, 73% of Americans in 2014

admitted to procrastinate on saving for the long-term future.10

7 https://www.census.gov/geo/reference/urban-rural.html 8 https://research.stlouisfed.org/fred2/series/MEHOINUSA672N 9 http://www.apa.org/topics/socioeconomic-status/ 10 http://www.msn.com/en-us/money/savingandinvesting

2012 2013 2014 2015

$1,700 $1,830 $1,995 $2,180

Invest men t firms com-missioned based fees

Years

Aver

age

Fees

($)

~Edward Jones’ 11,000 offices throughout the U.S.

http://www.msn.com/en-us/money/savingandinvesting

http://www.apa.org/topics/socioeconomic-status/

https://research.stlouisfed.org/fred2/series/MEHOINUSA672N

https://www.census.gov/geo/reference/urban-rural.html


C. Overview of the business or organization’s current employee engagement strategies

Edward D. "Ted" Jones Jr. was the son of founder Edward D. Jones. Ted Jones made a monumental decision to

change the ownership of the company from a closely held

private partnership to a partnership for a majority of the

employees to earn "partner" with the firm. Ted Jones could

have sold the company and became extremely wealthy but

instead of selling the company he decided to open up the

partnership offering so the employees could own the

company. The ability to be an owner in this company is a

huge benefit and typically makes the employees highly

motivated toward a greater level of success. The employees buy into the culture and the philosophy, especially when

their compensation is directly linked via ownership in the company.

Douglas E. Hill, chief operating officer from 1998 through 2003 and managing partner in 2004 and 2005,

continued the firm’s tradition of bringing personal investment services to an ever-increasing number of individual

investors in communities across the country. With the firm’s nationally recognized training program, which Hill helped

to develop after having been a successful financial advisor, Edward Jones is training about 100 new financial advisors

each month. This growth would ensure that the firm has the opportunity to continue offering investments tailored to the

needs of individual investors in the communities in which they live and work.

III. RESEARCH METHODS USED IN THE STUDY

Research Goals1. Align the engagement goals of Edward Jones with the employees of the business.2. Examine the current employee engagement strategies at Edward Jones and their effectiveness.3. Understand the best methods to establish an improvement in Edward Jones’ employee engagement strategies.

Research MethodsSurveys:

Branch Employee Online Survey Human Resources Division Online Survey Recruitment Division Online Survey

Personal Interviews: Alexis Jordan, Human Resource Manager Laura Cook, Assistant Branch Recruitment Director Dino Guzzetti, Financial Advisor at Sammamish Branch David Bleiweiss, Financial Advisor at Issaquah Branch


Focus Groups: Human Resource Division Focus Group Branch Employees Focus Group

Secondary Research: Past company reports Evaluations of competitors and other businesses’ employee engagement strategies Internet sources Articles

A. Description and rationale of research methodologies selected to conduct the research study

The market research was conducted through primary and secondary research. Primary research is data

conducted/collected by the researcher (Myself); the methods utilized for this strategy included surveys, personal

interviews, and focus group discussions. Secondary research is existing data that the researcher did not collect

themselves. I organized our research by the type of research conducted. In this section, I have provided the definition and

rationale for each broad research method, followed by a chart with each of the pieces of research conducted in that

category and our reasoning for conducting each type. Please note: Branch Employees are defined as employees

(Financial Advisors and Branch Office Administrators) who work in a branch office.

Surveys:

A survey is defined as a questionnaire to systematically establish facts, statistics, and trends. I used surveys to

establish the current preconceived opinion of the employee engagement of Edward Jones and decide how to effectively

improve them. The use of surveys allowed me to receive direct feedback of specific aspects of Edward Jones’ employee

environment and the general engagement in the workforce.

Rationale of SurveysBranch Employee, Online Survey:

To understand the culture of the Edward Jones’ work environment To examine motivational factors behind the branch employees

Human Resource Division, Online Survey: To assess the importance of employee engagement as a whole and at Edward Jones specifically To analyze Edward Jones’ efforts towards employee engagements, including strengths, weaknesses,

opportunities, and threats.Recruitment Division, Online Survey:

To evaluate the effectiveness of the investment firm’s recruiting process To verify the traits and qualities the division looks for in potential employees for the future

Interviews:


An interview is defined as a formal conference designed to elicit facts and statements. Conducting interviews

allowed me to gain knowledge on different perspectives in regards to employee engagement strategies at Edward Jones.

The interviews allowed for detailed responses filled with analysis to provide the Edward Jones Marketing Firm with

effective market research.

Rationale of Interviews:Alexis Jordan, Assistant Regional Human Resources Director

To learn about Edward Jones’ history and the current employee engagement strategies To obtain information regarding Edward Jones’ accomplishments from an employee environment perspective To be informed of the expectations of the firm’s employees To better understand the prominent nature of creativity and innovation amongst employees To find out the importance of leadership among the managers

Laura Cook, Assistant Branch Recruitment Director To discern strengths and weaknesses in the recruiting process To discuss the demographics of the employees and its impact on employee engagement

Dino Guzzetti, Financial Advisor at Sammamish Branch To analyze his rationale for working at Edward Jones To evaluate the bonding and friendships amongst other branch employees

David Bleiweiss, Financial Advisor at Issaquah Branch To determine why some potential employees choose to not for Edward Jones To examine current and potential incentives that could make current/potential Edward Jones’ employees even

more excited to be engaged in the work environment

Focus Groups:

A focus group is defined as a demographically diverse group of people assembled to participate in a guided

discussion to provide feedback about a particular product, area, or service. This research was important to conduct

because it provided qualitative, detailed information. The group analyzed the guided questions and managed to provide

effective points to assist me in declaring the final conclusions. We further reflected with the particular group about the

conclusions I came up with following the discussion.

Rationale of Focus GroupsHuman Resources Division Focus Group

To determine how to further motivate Edward Jones’ employees To scrutinize the impact of recruiting on employee engagement To collect information on empathy and gratitude towards employees To analyze methods to improve leadership in the management in the future

Branch Employees Focus Group To evaluate strengths, weaknesses, opportunities, and threats of the employee engagement strategies To obtain data on the perception of supervisors and managers of Edward Jones To discuss motivational theories like Maslow’s hierarchy of needs, Theory X, Theory Y, and

Herzberg’s theory.


Secondary Research:

In addition to the primary research described above, we studied several pieces of secondary research, defined as

market research previously compiled and organized, to form conclusions. Various sources utilized in this aspect of

market research included analyzing Linkedin, the Edward Jones website (Careers Tab), Strategic Programs Inc., our

competitors’ web pages, and The Essential Guide to Employee Engagement by Sarah Cook.

B. Process used to conduct the selected research methods

The following section describes the process followed to conduct each method of research and is organized in a

similar format to the previous section. A chart under each category describes when and where each method was

conducted. After the chart, the process used to conduct each method is described in detail and includes some of the

questions addressed with that method.

Surveys:

We conducted three surveys over a period of four months. We obtained feedback from statistically significant

amounts of people.

Timeline of Surveys Conducted

Title of Date(s) Place Conducted Responses

Branch Employees October 2015-January 2016 www.surveymonkey.com 124

Human Resource Division

October 2015- January 2016 www.surveymonkey.com 73

Recruitment Division October 2015- January 2016 www.surveymonkey.com 47

Branch Employees Survey

Research Techniques: 15 questions Distributed via regional managers Survey opened on www.surveymonkey.com from October 3, 2015 at 8:00am until January 3, 2016 at

11:59pm (Pacific Time)

http://www.surveymonkey.com/





Sample Questions: Which motivational theory applies to you more in the work environment, Theory X or Theory Y? What aspect of Maslow’s hierarchy of needs applies to you the most at work?

Human Resource Division Survey

Research Techniques: 12 questions Distributed through the Human Resource Manager, Alexis Jordan Survey opened on www.surveymonkey.com from October 3, 2015 at 8:00am until January 3, 2016 at


Sample Questions: How much personal engagement is there between managers and employees each week? What motivational theory does Edward Jones hope to emphasize more in the nearby future?

Recruitment Division Survey

Research Techniques: 10 questions Distributed through the Human Resource Manager, Alexis Jordan, and Assistant Branch Recruitment

Director Survey opened on www.surveymonkey.com from October 3, 2015 at 8:00am until January 3, 2016 at


Sample Questions: Which trait/quality is the most prominent in a potential employee?

Interviews:

Four interviews were held throughout the market research process. The interviews were either held via phone or

in person.

Timeline of Interviews Conducted

Name Official Position Date Conducted Place Conducted

Alexis Jordan Assistant Regional HR Director

September 26, 2015 Phone Call

Laura Cook Assistant Branch Recruitment Director

November 3, 2015 Phone Call

Dino Guzzetti Financial Advisor November 18, 2015 Sammamish, WA




David Bleiweiss Financial Advisor December 9, 2015 Issaquah, WA

Alexis Jordan

Research Techniques: 40 minutes long via phone call Discussed 8 questions Followed up later on with reports on the employee engagement

strategies that was utilized as secondary research. Discussed motivation and employee culture

Sample Questions: Discuss the importance of leadership in managers at Edward Jones What are the expectations of employees at work on a daily basis?

Laura Cook

Research Techniques: 35 minutes long via phone call Discussed 6 questions Followed up through various emails back and forth on our Hotmail

accounts to clarify certain questions/results Discussed recruiting’s impact on employee engagement

Sample Questions: Discuss the importance of recruitment and training on Edward Jones’ employee engagement? Edward Jones’ training was recently ranked 17th according to Training Magazine. How can the recruiting

division improve this ranking in the future?


Dino Guzzetti

Research Techniques: In-person at his office in Sammamish, Washington. 40 minutes long in length Discussed the culture of Edward Jones’ workforce Focused on employee engagement strategies that could further

enhance the motivation at Edward Jones Talked about bonding with other branch employees Followed up with various emails back and forth to clarify

data/conclusions drawn

Sample Questions: What are some weaknesses of Edward Jones’ employee engagement? At branch offices, there are only two employees including yourself. Does this impact the employee

engagement? Why or why not?

David Bleiweiss

Research Techniques:

In-person at his office in Issaquah, Washington 45 minute discussion at his office Had short discussions with him at his house in Issaquah, Washington

as he is the father of Jarod Bleiweiss. Discussions at his house ranged from 5-15 minutes Discussed incentives that influence motivation Given access to a SWOT analysis of Edward Jones

Sample Questions: What potential incentives could further enhance motivation in the workplace? How strong are your relationships with the managers/supervisors?

Focus Groups


I moderated two focus groups concerning the current employee engagement strategies at Edward Jones and

potential methods for improvement regarding the topic for the long-term future.

Timeline of Focus Groups ConductedTitle of Date(s) Place Conducted Participants

Human Resources Division Focus Group

December 19, 2015 Company room 7

Branch Employees Focus Group

January 3, 2016 Local Starbucks 8

Human Resources Division Focus Group

Research Techniques: 6 questions 35 minutes in length Equal participation among all participants Notes taken to record data/information and then draw conclusions

Sample Questions: How could Edward Jones show more empathy and gratitude for its employees? Discuss the role of corporate social responsibility on the engagement of a workforce? What trends can Edward Jones take advantage of to diversify its employee base?


Research Techniques: 8 questions 45 minutes in length Couple “leaders” amongst discussion, but everyone contributed Participants helped to draw conclusions upon the data found

Sample Questions: How do Theory X and Theory Y apply to the work environment at Edward Jones? Discuss your relationships with your managers and supervisors. How does the public perception of Edward Jones affect your overall engagement?

Secondary Research

I used numerous sources to both build a foundation for my market research and support my own primary

research. In order to produce competent research, I witnessed portions of the Edward Jones Human Resources and

Recruitment annual reports from the last five years. I gained access to research projects conducted by several Fortune


500 companies, government studies, and general studies on employee engagement through various internet

sources/articles. In particular, www.strategicprogramsinc.com and The Essential Guide to Employee Engagement by

Sarah Cook, were found to be very informative resources. The secondary research process was conducted over the entire

market research time frame: beginning in September and concluding in late December.

IV. FINDINGS AND CONCLUSIONS

A. Findings of the research study

Surveys

81% of the HR division believes that Theory Y

applies to the employees in the work

environment.

87% of the employees noted that they are

“satisfied” with their salary.

When employees analyzed Maslow’s hierarchy

of needs, 2.4% chose physiological, 1.6%

chose safety, 35.5% chose self-belonging,

12.1% chose esteem, and 48.4% chose self-

actualization.

On a scale from 1-5 (5 highest), when asked

about the strength of their relationship with

their office co-worker, a rating of “4” was

selected the most with 43% of employees,

followed by “5” (36%), “3” (15%), “2” (5%), and “1” (1%).

47% of employees have less than three close friends at Edward Jones

73% of employees support a charity. Of that 73%, 13% support charities with other Edward Jones employees

Theory X Theory Y0

10203040506070

Which motivational theory applies to the employees in the work environment?

Theory Name

# of

resp

onde

nts

Physio

logica

lSafe

ty

Love/b

elong

ing

Esteem

Self-A

ctuali

zation

010203040506070

Which aspect of Maslow's hierarchy of needs applies to you at work?

Aspect of Maslow's Hierarchy

# of

resp

onde

nts

http://www.strategicprogramsinc.com/


The HR division believes that in order to

empower its employees, 63.5% chose

enhancing worker participation, 8% chose

delegating roles effectively, 24% chose

improving communication, and 4.5 chose

“other”.

72% of the HR division believes that

employee training does not occur frequently

enough

On a scale of 1-5, 68% of employees rated their Edward Jones summer regional meetings as “5”.

79% of employees want to learn more and advance their skills at work.

“Seeing your manager” was defined as interacting and

communicating with them for at least 30 minutes. 3%

of employees see their managers daily, 8% said

weekly, 27% said monthly, and 62% said yearly.

Employees were asked of their ages to assist us in

analyzing the recruiting process. 3% were 22-29 years

old, 15% were 30-39, 33% were 40-49, 34% were 50-

59, and 9% were 60-69, and 6% were 70+.

65% of employees believe that in the offices,

technology needs renovation the most.

Worker

Partici

patio

n

Delega

te rol

es eff

ective

ly

Better

commun

icatio

nOthe

r0

1020304050

How can you empower your employees?

Method

# of

resp

onde

nts

Daily Weekly Monthly Yearly0

102030405060708090

How often do you see your manager/super-visor?

Time frame

# of

resp

onde

nts

22-29 30-39 40-49 50-59 60-69 70+05

1015202530354045

Age of Employees

Age Segmentation (years)

# of

resp

onde

nts


Personal Interviews

Alexis Jordan

~“Some employees just do their job to make themselves successful. I want Edward Jones’ employees to do their jobs above and beyond to make themselves AND the company successful”.

~“Engaged employees thrive in empowerment and innovation… Which we could step up, as a lot of adults these days lack creativity”.

~“I have heard from other HR managers that retention is about 25% higher for employees who have engaged in company-sponsored mentorship”.

~”A true leader needs to be a mentor, a communicator who reaches out, a person who displays his or her vision in an engaging fashion, and finally, a role model. Many employees look up to their employees, and the employees here are no exception”.

Laura Cook

~“If I’m not engaged, then the new employees, interns, and rising staff in my department will likely be disengaged too”.

~“I could probably gain more trust and more engagement out of my department if I show more empathy and demonstrate competence”.

~”The main weaknesses of our recruiting process are that we lack age diversity and the interviews focus more on their financial planning skills as opposed to real-life application”.

Dino Guzzetti

~“While we are ranked very high as one of the top companies to work for, I personally think that’s more because of the relationships I build with my clients, as opposed to the financial advisors in Bellevue, Redmond, Seattle, and so on”.

~“There is no happiness except in the realization that we have accomplished something”.

~”I would love to be able to contribute to a worthy cause as a member of Edward Jones. I’m always joyful when my friends and family members join a socially responsible business – they always have a great sense of pride in working for the company”.


David Bleiweiss

~“I love working at Edward Jones, but I feel like we’re wasting an opportunity as our individual offices usually only have two employees. There isn’t consistent contact between us for idea sharing and camaraderie”.

~”My relationship with my manager isn’t as strong as employee-employer relationships typically are like in a business. Some of the criticism I’ve seen in large corporations like Edward Jones is that the management often views the employees as a number, as opposed to a person. Feeling valued by the people I look up at Edward Jones would definitely increase most employees’ morale”.

Focus Groups

Human Resource Division Focus Group

~ “It is important that we ensure that manager to employee relationships are just as strong, if not stronger than a

typical relationship between employees and their various clients”.

~ “We want our employees to love coming to work every day, and we always appreciate their hard work beyond

financial incentives. However, we need to show that appreciation beyond just a paycheck”.

~ “Diversification in the workforce would enhance the great atmosphere at Edward Jones. Especially with an up

and coming generation like the millennials, they would be able to add their respective talents like social networking,

communications, and being technological. Mixing in more of Generation Y would certainly increase the innovation

and creativity we’ve been looking for”.

~”Volunteerism and being philanthropic would help us engage our existing workforce and also act as a lever for

our public relations. A social responsible brand will make Edward Jones an attractive employment opportunity”.


~“The philosophy here goes beyond just working for the money, and we strive to make our leaders proud as we

follow that mindset”.


-“The engagement with the management division is not very consistent, to be honest. Edward Jones’ model is unique

in that we have the power to manage ourselves, which gives us great autonomy, but the connection with the people

we are actually working for is as strong as we wish it was”.

~”Valuing our community as a whole at Edward Jones would bring us all together in a cooperative style. That

feeling that we can positively impact the community around us while we help our clients with their long-term

financial goals would be a dream, but a dream we can achieve”.

Secondary Research

Engaged employees take an average of 2.69 sick days per year. Unengaged employees take an average of 6.19

sick days per year.

Highly engaged employees are 480% more committed to helping their company succeed.

Highly engaged employees are 250% more likely to recommend improvements.

Generation Y (Born 1980-2000) is engaged through heavy technology usage.

Generation Y will represent over 50% of the workforce by 2020.

According to a 2014 survey taken by the Harvard Business Review, 86% of Generation Y selected “yes” to the

question “Would being able to contribute to a worthy cause while in the core function of your job position

engage you at work?”

Edward Jones’ Recognition “Highest in Investor Satisfaction With Full Service Brokerage Firms” –J.D. Power, April

2015 Ranked No. 24 of Forbes Magazine of “America’s Best Employers 2015” (500 companies

rated) –Forbes, March 2015 Edward Jones ranked No. 6 overall in “best companies to work for.” In the listing’s 16 year

history, Edward Jones has had top 10 finishes for 12 years, top 5 rankings for six years, and finished No. 1 in 2002 and 2003. –Fortune Magazine, March 2015

Edward Jones was ranked No. 17 out of 125 companies for training. –Training Magazine, February 2015

B. Conclusions based on the findings

Through extensive research performed through various methodologies, we have come to vital conclusion

concerning the employee engagement at Edward Jones.


Conclusion 1-Edward Jones’ employees are motivated through accomplishing tasks as opposed to monetary

values: The motivational theories are a great measure of this conclusion. The future employee engagement strategies

must go beyond simply giving an employee a raise.

Conclusion 2-The limited number of employees in each Edward Jones’ branch limits bonding in the collective

work environment: The model of Edward Jones’ offices provides many benefits for the employees, as seen by the

numerous awards the firm has received for the work environment created. However, the structure prohibits strong

friendships beyond each office as neighboring offices in the particular region only have the opportunity to see each other

at work events about once a year.

Conclusion 3-Employees love working for a company that is socially responsible: With sincere corporate social

responsibility, there will be a more positive atmosphere in the work force. Being able to work for a company that is

social responsible and cares for the community brings a sense of pride for the employees. Generating positive public

relations and having the ability to use a positive brand to recruit future employees will increase job satisfaction, leading

to a high level of engagement.

Conclusion 4- Edward Jones’ workforce lacks Generation Y employees in the employee base: It is pivotal to enrich

the employee base with Generation Y employees because they are the future of Edward Jones. Furthermore, diversifying

the workforce will benefit Edward Jones as there will be more perspectives and creative innovations that Edward Jones

hasn’t seen before.

Conclusion 5-Edward Jones’ recruiting process is not compatible for potential Generation Y employees: In order

to obtain Generation Y, the recruiting division needs to be responsible. Generation Y is swimming through an era of

technology, which is pivotal to improve at Edward Jones. Additionally, in order to obtain Generation Y, we have to

adjust our recruitment strategies around the age group.

Conclusion 6-Relationships between Edward Jones’ managers and employees are not strong: As mentioned in the

second conclusion, the Edward Jones model for offices hinders employee relationships beyond the office. Another issue

is that managers do not pursue enough effort to engage with the employees in their respective regions.

Conclusion 7-Edward Jones’ employees want to feel appreciated by their managers: As seen by Maslow’s hierarchy

of needs, self-actualization is pivotal for motivational factors. The feeling of belonging in a work environment only

enhances the engagement an employee will have on a daily basis.


Furthermore, the research on Edward Jones helped create a SWOT analysis, a strategic planning technique that

scans the internal and external of a business: strengths, weaknesses, opportunities, and threats (with factors of PRIMOF

and PESTLE). The internal factors, strengths and weaknesses, are represented by PRIMOF, standing for people,

resources, innovation/ideas, marketing, operations, and finance. The external factors, opportunities and threats, are

represented by PESTLE, standing for political, economic, social, technological, legal, and environmental/ethical.

SWOT Analysis of Edward Jones Investments

Inte

rnal

Fac

tors

Strengths WeaknessesPeople

35,000 employees 100 trained employees everyday Convenient communication in the branch office

model

People Human Resource department is

completely separate from Branch Employees in terms of engagement

Resources Offices located in wealthy areas A majority of offices are located in urban

environments

Resources The technology at Edward Jones is not as

up to date as other financial businesses Lack of Generation Y employees

Innovation and Ideas Strategic in retaining and adding additional clients

Innovation and Ideas Lack of idea sharing and camaraderie Shortage of diversity in the workplace

Marketing Focus on retirement – majority of clients come in

for this aspect of long-term investments Market orientation marketing strategies

Marketing No history of rebranding No recent history of adjusting employee

engagement strategiesOperations

Branch employee usually has office in a local area Freedom in schedule flexibility

Operations Usually only two employees per office Lack of community bonding at workplace

Finance $6.3 billion in revenue earnings in 2015 Financial oriented business

Finance Lack of salary bonuses Commission only earned on 1st investment

Ext

erna

l Fac

tors

Opportunities Threats

Political Stock market causes people to think more about

their investments Obama Care is being pushed through

Political Politicians do not put emphasis on

investing.

Economic Increasing trend of job growth since 2008

recession.

Economic Investing is based solely on the stock

market which can be unpredictable at times.

Social Edward Jones financial advisors establish

committed relationships with clients Resurgence in investment firms

Social Young generations are not inclined to start

investing early or be financial advisors Other businesses have more of a focus of

community involvement from employeesTechnological Technological


Increase in social media marketing Younger workforce depends heavily on technology

in the workforce Rising trend of businesses utilizing technology

Increase rate of hacking technological systems

Competitors more updated in technology

Legal Protected by the SEC (Provides customers with

safety) Required by law to protect clients’ personal

information

Legal Law that prohibits the sharing of stock

information to clients Lack of sharing client information could

prevent growth of businessEnvironmental/Ethical

United States’ government recently raised budget for environment preservation

Cities becoming more “Green Friendly” Environmental Protection Agency regulates

environmental issues well in the U.S.

Environmental/Ethical Other investment firms/banks evaluating

and attempting to improve employee engagement strategies

High level of pollution in the U.S.

V. PROPOSED STRATEGIC PLAN

A. Objectives and rationale of the proposed plan

The findings and conclusions from our research and analysis demonstrate the need for Edward Jones to improve

some aspects of its employee engagement strategies to effectively establish an enjoyable culture for the firm’s

outstanding employees. Based on the conclusions stated in the previous section, important objectives have been created

to establish the goals of the proposed strategic plan. Below are the objectives we wish to follow in order to improve

employee engagement and motivation at Edward Jones, ultimately improving upon the existing standard of excellence

that makes the investment firm stand apart.

First off, there will be three overarching goals that the proposed strategic plan will be catered around to measure

the effectiveness of the plan in accordance to employee engagement. I have chosen the following three overarching goals

because they are the underlining principles and base of employee engagement. They are convenient performance

indicators to measure to ensure Edward Jones is on the right track in the proposed strategic plan. Each of the overarching

goals follow the S.M.A.R.T. (specific, measurable, attainable, realistic, timely) technique to creating effective goals.

Overarching Goals of the Proposed Strategic Plan Increase productivity by 15% in three years Reduce turnover by 5% in three years Decrease defects by 20% in three years

Keeping the overarching goals of increasing productivity, reducing turnover, and decreasing defects, the

following table displays the specific aims of the plan. The specific aims will allow us to concentrate on key elements of


employee engagement that directly relate to Edward Jones’ current employee engagement strategies and the trends and

potential the firm can accomplish in the future.

Specific Aims of the Proposed Strategic Plan Objective 1: Enhance corporate social responsibility at Edward Jones Objective 2: Increase generation Y’s share of employees in the Edward Jones

workforce Objective 3: Empower employees to optimize employer-employee relationships

Below are descriptions of why each specific objective is pivotal to accomplish the overall goal of enhancing

employee engagement strategies at Edward Jones. Each objective states which conclusions support the need for the

change, upgrade, or necessary implementations for the proposed strategic plan. Additionally, benefits have been

addressed to underline the success and potential that Edward Jones and the employees will experience when the objective

is achieved.

Objective 1: Enhance corporate social responsibility at Edward JonesRationale:

Conclusion 1- Edward Jones’ employees are motivated through accomplishing tasks as opposed to monetary values

Conclusion 2- The limited number of employees in each Edward Jones’ branch limits bonding in the collective work environment

Conclusion 3-Employees love working for a company that is socially responsible Benefits:Enhancing the corporate social responsibility has numerous benefits at a multitude of levels. First off, Edward Jones will benefit from the increased visibility and revenue. Supporting the community and worthy causes around Edward Jones will increase the corporation’s publicity and brand recognition. Adding in this extracurricular element to the Edward Jones workforce experience will allow employees to bond with one another over the activities Edward Jones does as a collective group. Edward Jones valuing corporate social responsibility will boost employee engagement in the existing workforce as well as become a level for employee attraction for recruiting purposes.

Objective 2: Increase Generation Y’s share of employees in the Edward Jones workforce

Rationale: Conclusion 4- Edward Jones’ workforce lacks Generation Y employees in the employee base Conclusion 5-Edward Jones’ recruiting process is not compatible for potential Generation Y

employeesBenefits:Among the advantages of diversity in the workplace are: increased creativity, increased productivity, new attitudes, new language skills, global understanding, new processes, and new solutions to difficult problems. A


workforce composed of different age demographics creates an environment where each generation brings different skills and talents to the table. Young employees have a strong grasp with social networking and technology that is limited in the skill set of more mature professionals. As the younger generations are credited with better knowledge of technology, the more mature members have the advantage of traditional business skills. The diversity will give Edward Jones the ability to communicate and establish relationships with a variety of age groups. Furthermore, a workforce heavily composed only of people in a particular age demographic runs the risk of becoming obsolete. The older workers will be able to mentor the new, younger employees to pass down the accumulated years of experience. Overall, a variety of age groups in the workforce will bring more perspectives and personalities to the environment which will ultimately enhance the creativity and innovation that will engage our workforce for the future.

Objective 3: Empower employees to optimize employer-employee relationships

Rationale: Conclusion 6-Edward Jones employer-employee relationships are not strong Conclusion 7-Edward Jones’ employees want to feel appreciated by their managers

Benefits:Management’s lack of detail to employee relations creates a trust gap between management and the employees on the front line. This trust is the lubricant that keeps the corporate machinery spinning and it needs to be supported with open dialogue and face-to-face meetings between managers and employees. The employees will work hard knowing that they are respected and recognized by the management division, ultimately raising their confidence when they walk into a friendly work environment every day.

B. Proposed Activities and Timelines

After establishing goals for the strategic plan to progress and develop Edward Jones’ employee engagement

strategies, each objective will consist of one or two activities to fulfill the goal. The content below will include a

reiteration of the objective, followed by the activities corresponding to the objective. Each activity will have a brief

description of how we envision it in order to accomplish the particular objective.

Objective 1: Enhance corporate social responsibility at Edward Jones

Support Charities: Edward Jones has many employees that give back to their communities and support a

charity. However, now Edward Jones employees will support charities as a team. Employees will enjoy going to

numerous charity events together in their local areas. Edward Jones employees will have the opportunity to

participate in various charity events including the Pineapple Classic run, Relay for Life, and Ronald McDonald

House Charity Golf Outings.


Employees will not be required to participate in these events, but there will be promotion within the local workforces

about particular events through newsletters, word-of-mouth networking, Linkedin, and other group/team messaging

applications (varies depending on region/area). Edward Jones will not only be able to improve their public relations as

they actively contribute to the community, but the workforce will have more opportunities to bond with each other.

Objective 2: Increase Generation Y’s share of employees in the Edward Jones workforce

Register with College Career Service Departments: In order to recruit Generation Y before competitors do,

Edward Jones will register with College Career Service Departments around the nation to advertise internships

and available full-time jobs/positions at Edward Jones offices. College Career Service Departments will strive to

diversify our firm by connecting with suitable candidates. Various departments will allow our

Recruitment/Human Resource divisions to have an opportunity to join the Employer-In-Residence- programs to

meet with students on campus for resume critiques and other career advice.

Recruiting via Generation Y Relevant Channels: Internet media will also be

heavily emphasized for recruiting Generation Y. Edward Jones will feature

YouTube advertisements, with the goal of informing Generation Y of the valuable

opportunity to work at Edward Jones. Furthermore, social media (Facebook,

Instagram, and Twitter) will be utilized to reach out to Generation Y, hence

their active involvement on the various mobile applications, where this

generation constantly searches for job opportunities. Beyond the general social

media apps utilized by millions worldwide, Edward Jones will also recruit for

Generation Y employees through Linkedin. This is a business-oriented social networking service. Job recruiters,

head hunters, and personnel HR are increasingly using Linkedin as a source for finding potential candidates.

Edward Jones will follow this technological trend.


Objective 3: Empower value of employees to optimize employer-employee relationships

Employee Resource Groups: Edward Jones will start Employee Resource Groups. At these meetings, Edward

Jones’ employees will have the opportunity to share ideas and cultivate relationships with other employees in

their local area. They will be structured in an open-ended format, so that innovation and creativity in the

workforce are pursued to the fullest extent. The employee resource groups will have the chance to communicate

with the regional managers about their needs to ensure their job satisfaction is high. Implementing employee

resource groups come with a multitude of benefits including higher retention, professional development, ideas

on how to recruit better talent, market outreach, and a positive public perception in the sense of an employment

opportunity. The groups will allow industrial democracy to be part of the organizational culture, giving them

more authority and involvement in decision-making. Employers will benefit from a more cooperative workforce

that will not be inclined to engage in industrial action and the employees will be satisfied as the job enrichment

will mean the workers will have a better sense of achievement, which is an effective motivating force for the

Edward Jones employee base.

Hire Industrial Organizational Psychologists: To ensure of an emphasis of valuing the employees of Edward

Jones, Industrial Organizational (I/O) Psychologists will be hired to help the Human Resources Division to

empower the employees. The I/O Psychologists will help increase the employee’s productivity, implement

strategies to enhance team-building, and resolve conflicts between employers and employees. With the lack of

interaction between employers and employees, the I/O Psychologists will lead activities in the future to provide

opportunities to develop these relationships. With more interaction between the employees and employers, there

is a chance of conflicts on decision-making, personality differences, and overall opinions. The I/O Psychologists

will evaluate each of these situations and include psychological concerns such as the needs for respect, dignity,

empowerment and effectiveness.

Regional Managers visiting offices: The managers in each region will visit the offices that they oversee every

other week. They will stop in the office to talk to the financial advisor and branch office administrator for about

30 minutes and engage with the employees. The managers will be expected to not only check in with actual

work progress on particular employee tasks, but also get to know the employees better. At Edward Jones, the


employees strive to establish close relationships with clients, but now it’s time for the manager to establish a

close relationship with the employees. If the managers act as role models and are engaged with the work at

Edward Jones, then the employees will follow their lead. Managers will be expected to go through a workshop

hosted by the Employee Engagement Group. This workshop will help managers learn the significance of a

leader on employee engagement and the importance of developing relationships with the employees as well.

Timeline of Activities

Activity ScheduleSupport Charities (August, 2016) Meet with Public Relations department about idea

(September, 2016) Visit local charities to develop sponsorships (December, 2016) Send out newsletter to all employees about CSR approach (December 2016-ongoing) Research local charity events (Ongoing time) Promote local charity events (Ongoing) Dates will vary depending on certain charity event dates

Register with College Career Services

Departments

(June, 2016) Assign recruiting division to contact 100 college career services departments

(September, 2016) Confirm registrations (October, 2016) Create internship advertisements (February, 2017) Release internship advertisements (Throughout 2017) Visit colleges

Recruit via Generation Y Relevant Channels

(August, 2016) Create new social media accounts (September, 2016) Set up advertising budget with Facebook, YouTube, and

LinkedIn (November, 2016) Create advertisements (February, 2017) Release advertisements

Employee Resource Groups

(September, 2016) Send out newsletter to all employees about the activity (October-December, 2016) Continue to market idea of forming local group (November, 2016) Finalize budget (February, 2017) Start meetings

Hire Industrial Organizational Psychologists

(July, 2016) Inform HR Division of the new position (August, 2016) Begin searching and recruiting I/O Psychologists (August, 2016) Finalize salary details and benefits for I/O Psychologist

position. Finalize budget with Finance Department. (November, 2016) Conduct interviews with candidates (January, 2017) Begin specialized training process (February, 2017) Official start of new employment

Regional Manager Visits (August, 2016) Leadership workshop (September, 2016) Meet with managers to discuss employee relationships (November, 2016) Start visiting offices

C. Proposed metrics or key performance indicators to measure plan effectiveness


The proposed strategic plan will need to have key return on investment factors to measure the project. The

overarching goals mentioned in section 5A of this paper will act as the key performance indicators to measure the overall

project’s effectiveness.

The growth of growth of productivity will be measured by performance in the workplace. To calculate this, the

average salary of an Edward Jones employee must be considered, which is $55,000 annually11. In 2015, Edward Jones

reached $6.3 billion12 in revenue. With 7 million clients constituting for the revenue through commission based fees, on

average each client is responsible for $900 in commission. With 35,000 employees at Edward Jones, each employee is on

average accountable for about 200 clients. The number of clients an employee has, multiplied by the average amount of

commission each client generates, equates to each employee essentially earning $180,000 in revenue each year for

Edward Jones. The $180,000 represents the productivity without any implementation of the proposed strategic plan.

However, with a 15% increase in productivity, the revenue will be expected to have a similar correlation with the

productivity, but just a 5% increase in revenue. Increasing the revenue each employee produces by 5% would result in

$27,000 more. Taking into account all 35,000 employees, the growth of productivity will result in an additional $315

million in one year.

Turnover is measured annually at Edward Jones. The firm’s turnover rate in 2015 was 15.2%. Edward Jones had

35,000 employees, meaning 5,320 employees were replaced. With Edward Jones’ extensive hiring, recruitment, and

training processes that have garnered national attention, the average cost of a hire at Edward Jones is $15,80013. Last

year, Edward Jones spent $84,056,000 on employee turnover. Reducing turnover by 5% will save 5% of $84,056,000,

which is $4,202,800.

Defects are already measured annually at Edward Jones which will continue for this proposed strategic plan. By

the end of the third year of the plan, defects should be 20% less than in the first year. Defects cause a loss of

approximately 3% of revenue each year14. Taking Edward Jones’ $6.3 billion revenue in 2015 into account, a loss of 3%

of revenue amounts to $189,000,000 in one year, and $567,000,000 over three years. Decreasing the defects by 20% will

save 20% of $567,000,000, which is $113,400,000.

11 http://www.payscale.com/research/US/Employer=Edward_Jones_Investments/Salary 12 https://www.edwardjones.com/images/revenue-sharing-disclosure.pdf 13 http://careers.edwardjones.ca/explore-opportunities/hq/about/division/branch-recruiting-hiring.html 14 https://www.mindtools.com/pages/article/newTMC_87.htm

https://www.mindtools.com/pages/article/newTMC_87.htm

http://careers.edwardjones.ca/explore-opportunities/hq/about/division/branch-recruiting-hiring.html

https://www.edwardjones.com/images/revenue-sharing-disclosure.pdf

http://www.payscale.com/research/US/Employer=Edward_Jones_Investments/Salary


The three overarching goals will be evaluated every six months to ensure they are heading in the right direction,

and then again for a final evaluation at the completion of three years to deem the plan successful or not. The total

projected return on investment for three years is $432,602,800. While the financial numbers for the proposed strategic

plan are very heavy, it’s important to note that Edward Jones generated $6.3 billion in revenue just last year alone, an

amount that has increased by about $400 million without the proposed strategic plan. A detailed income statement of

Edward Jones will be included in section 6A to reassure the plan has a realistic approach that can be attained.

VI. PROPOSED BUDGET

A. Costs associated with proposed strategies

The costs associated with implementing our entire proposed strategic plan over its three year time table will be

$72,052,710. Each activity has a rationale for the details pertaining each cost. Following that includes three columns of

the cost in the first, second, and third years of the proposed strategic plan. The bottom of the table includes a subtotal for

each respective, followed by a total investment cost of the three years combined. All costs pertain to the entirety of

Edward Jones Investments of 35,000 employees and 11,000 locations.

Activity Cost Rationale Year 1 Cost Year 2 Cost Year 3 Cost

Support Charities

Promotion within Edward Jones workforce

Sponsorship packages Public Relations

program/consulting Support 10 prominent

charities $1 million donation yearly

for each charity

$11,500,000 $11,500,000 $11,500,000

Register with College Career

Services

Registration cost of $44015

100 college registrations nationwide

Yearly trips to colleges ($310 average cost for travel).

20 recruitment division members travelling

General recruiting costs

$700,000 $700,000

$700,000

Generation Y Recruiting

YouTube Instream Advertisements

Facebook Advertisements LinkedIn Advertisements Pay-Per-Click pricing

Internship advertisements General recruiting costs

$520,000 $520,000 $520,000

15 http://www.career.vt.edu/JobSearchGuide/JobCareerFairPrep.html

http://www.career.vt.edu/JobSearchGuide/JobCareerFairPrep.html


Employee Resource Groups

$2,500 yearly budget for communication, resources,

facilities etc. per group 10 meetings per year 1,800 expected groups

$4,500,000 $4,500,000 $4,500,000

Industrial Organizational

Psychologist Hiring

$75,000 average salary16 Edward Jones HR Division

pays 6% above the market17

One for each region 90 regions

12 hours of yearly training $29 per hour

$6,781,320 $6,781,320 $6,781,320

Manager Visits

Gas 26 visits/year

Average total driving distance of 30 miles

Average $2 per gallon Average 23.6 miles per

gallon 90 regional managers

$16,250 $16,250

$16,250

Yearly Subtotals $24,017,570 $24,017,570 $24,017,570Total Three Year Investment Cost $72,052,710

While the final three year investment cost is substantial at over $72 million, it will be effective in engaging the

entirety of the Edward Jones workforce of 35,000 employees through 11,000 locations nationwide. To put it into

perspective, investing $24 million each year in this plan would entail approximately only $2,180 per location. The

following table is an income statement of Edward Jones over the last three years to reassure the feasibility of the

employee engagement plan and the overall financial state of the investment firm.

Edward Jones Investments

Income Statement

For the years ended 12/31/13, 12/31/14, & 12/31/15

(Numbers in millions) 2015 2014 2013Revenue 6,311 6,142 5,871

Cost of Revenue 1,894 1,747 1,603Gross Profit 4,417 4,395 4,268

Operating Expenses 2,357 2,659 2,515Operating Income 1,902 2,144 1,941

Other Income 87 79 83Income before income taxes 1,989 2,223 2,024

16 http://www.payscale.com/research/US/Job=Industrial-Organizational_Psychologist/Salary 17 http://careers.edwardjones.com/explore-opportunities/hq/compensation.html

http://careers.edwardjones.com/explore-opportunities/hq/compensation.html

http://www.payscale.com/research/US/Job=Industrial-Organizational_Psychologist/Salary


Provision for income taxes 467 481 497Net Income 1,522 1,742 1,527

VII. BIBLIOGRAPHY"Bankruptcy." United States Courts. Administrative Office of the U.S., 2015. Web. 12 Oct. 2015."Census.gov." Census.gov. U.S. Department of Commerce, 2015. Web. 20 Oct. 2015.Cook, Sarah. The Essential Guide to Employee Engagement: Better Business Performance through Staff Satisfaction.

London: Kogan Page, 2008. Print."Employee Motivation: A Powerful New Model (HBR Bestseller)." Employee Motivation: A Powerful New Model (HBR

Bestseller). Harvard Business Review, 2015. Web. 24 Mar. 2016."Edward Jones - Compensation and Benefits - Headquarters." Edward Jones Careers Site. Edward Jones Investments,

2016. Web. 21 Mar. 2016."Edward Jones History." Our History. Edward Jones, 2015. Web. 12 Oct. 2015."Financial Assets Held by Families, by Type of Asset Statistics - USA Census Numbers." Financial Assets Held by

Families, by Type of Asset Statistics - USA Census Numbers. Photius Coutsoukis, 2014. Web. 15 Oct. 2015.Hoang, Paul. Business & Management. Melton, Vic.: IBID, 2007. Print."Industrial-Organizational Psychologist Salary (United States) Industrial-Organizational Psychologist Salary. Pay Scale,

2016. Web. 21 Mar. 2016."Investment Firms, Commission Based Fees." American Psychological Association. American Psychological

Association, 2015. Web. 22 Oct. 2015."Put the Power of Personal Attention to Work for You." Edward Jones. Edward Jones, 2015. Web. 12 Oct. 2015."Registering for College and Career Services." Career Services. VT Careers, 2016. Web. 21 Mar. 2016."Top 10 Investment Firms in America." Forbes. Forbes Magazine, 2014. Web. 12 Oct. 2015."Urban and Rural Classification." U. S. Census Bureau. U.S. Department of Commerce, 2015. Web. 20 Oct. 2015.

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