Balanced Scorecard
Essay Preview: Balanced Scorecard
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Did she have the right strategy? Was her team strong enough? Why was it so hard to have the different
divisions collaborate? Why did we not learn from previous mistakes? Why was there so much internal
conflict? Why had growth slowed over the last few years? What was causing customer Net Promoter
Scores to fall? Why was employee turnover at 12%? Would increase regulatory constraints place
undue costs? Would shareholders continue to support her expansion strategy?
On average, the five geographical regions were performing at 70% of goals.
Senior Managements expectations are that employees are proactive and collaborative in delivering banking services. Given the level of rivalry in the industry, survival and growth requires that the bank provide value each time it interacts with a customer. Customer-centricity needs to be central to aBc Financial’s activities. In fact, Marie often spoke to the need to see the “business from the customers perspective” and “having all of us in the same bus helping create a wow banking experience.”
As a general practice, all new non-management employees are exposed to a two-week orientation and product knowledge program covering the full range of products, culture, systems and processes.
The vast majority of employees work in community branches headed by a branch manager and two assistant managers. 5-7 tellers, 5-6 credit and investment officers, 2 financial planners and 1 commercial officer. Internal employee engagement surveys have systematically indicated poor internal coordination within individual branches.
All in all, aBcs work force is classified as highly educated and flexible in their skill sets.
Anecdotal evidence points to lack of clarity and expectations amongst employees and the apparent constant state of perpetual change. Furthermore, some questioned the effectiveness of aBcs internal communication processes.
A better team approach is in desperate need
It seems all the investment in technology, including a state-of-the art Saratoga CRM platform was doing little to move these basic results.
NON TRAINING ISSUES
Pay for employee education:
Many employees hold several professional licenses/ certifications including Certified Financial Planners designations, Advance Investment Services Certificates and Commercial and Retail Credit Evaluation Certificates.