Citibank: Performance Evaluation Essay

For each element needed for an effective performance appraisal system, have criteria to ensure its proper function. The element of overall policy, the criteria that should be present is clear measurable performance criteria, clearly stated and defined performance goals and objectives, information for the application and operation of the system, procedures to address employee performances, and information that identifies those covered by this system. The overall policy must meet regulatory requirements of the state, county, city, or federal laws. According to [5 CFR 430.209(a)]), Agency must also obtain approval prior to implementing changes that modify any element of the system subject to regulatory requirements.

Standards identify a baseline for measuring performance. From performance standards, supervisors can provide specific feedback describing the gap between expected and actual performance (UCSF Human Resources, nd). The sales representatives will have the following performance standards:

In addition, when Sandy glance through the ratings: average, she will feel unfair and gets negative feelings. She feels confident for her table service. However, she only gets average. Sandy disagrees to the ratings and she wants a chance to present their point of view. However, the boss doesn’t listen to her feelings. It will lose Sandy’s wildlings to improve. The boss doesn’t want to listen to her feelings and takes the time to let Sandy air discontent and vent feelings. Sandy

Performance evaluations are important parts of all employees and managers tools to ensure positive actions are rewarded while negative actions can be evaluated and fixed to decrease problems in the future. Performance evaluations benefit supervisors and employees by identifying how to bring out the employees best attributes for the company (Hamlett, nd.). Evaluations provide a look at how a worker is doing compared to earlier reviews of their skill, knowledge, initiative and participation in the company’s vision (Hamlett, nd.). Introducing performance review evaluations is important to most organization for the success of their organization and the advancement of its employees. Performance evaluations provide a way for managers and supervisors to manage the performance of an organization and the people who make of the human resources of the organization (McCarroll, nd.). When implementing a new system it is important to understand the process must be realistic, challenging, yet attainable for performance expectations and standards to be successful for employees and the organization (McCarroll, nd.). Balanced scorecards are utilized in performance evaluations to essentially provide a way for organizations to align their strategic plans with day to day operations (Balanced Scorecard Institute, 2015). Balanced scorecards look at traditional financial measures, which are past events and long-term investments like

The manufacturing plant currently does not have a sound system of performance evaluation. The current system addresses the friendliness of the employee, the orderliness of the employee’s workspace, and the attitude of the employee towards others. The current performance evaluation does not address the needs of the employee by properly preparing the employee for the goals of the company. The employee has not been given or been informed of the standards of the company. Standards or goals, when issued upfront, enhance performance, motivate, and in turn serve as a basis to evaluate after a set period of time. Performance standards should be set for all

CIBC has focused its core business on retail and business banking, wealth management, and whole sale banking. They have shown a proven track record of providing there customers with financial services and advice through a group upwards of 1100 branches worldwide. Strategies CIBC has portrayed is to continually find new ways to enhance the experience of the client and to stimulate safe revenue growth. CIBC has put emphases on creating deep meaningful relationships with all clients, constantly trying new ways to improve service and sales prospects and to create relationships with new clients while retaining existing clients for a long period of time (CIBC).

Performance Standards: Guidelines that provide specific descriptions of observable performance that help to enact the principal supervisor standards in policies, programs and practice.

As stated by Peter F. Drucker, “Management is about human beings. Its task is to make people capable of joint performance, to make their strengths effective and their weaknesses irrelevant.” Performance management is essential to achieving an organization 's mission statement and business goals, and also in attracting, retaining, and motivating qualified employees. There are many benefits and reasons why an organization should execute a performance management system. Performance appraisals establish the basis for qualifying, recognizing, and rewarding employee contributions. In this paper, I will discuss what performance management is, the problems with the current performance management system at my organization, how other organizations have succeeded in their performance management system and how I would advise management at my current organization to improve our performance management system.

Instead of having four to eight measurements under each category, I would have one to four standards under each with four being the highest amount under each category. In this manner, the standards would be more oriented towards what is being measured. For example, under the mission category I would only provide one standard as there is only one mission statement and the employee either meets it or does not. I would also add a new category of Cultural Responsiveness as this is a concern in the treatment of the clients. The outcomes would also be done differently so that the scores either showed that the employee exceeded expectations (EE), met expectations (ME) or needs improvement (I). I find that this will prompt the employee to want to meet the expectations or aim to exceed what is expected of them. In order to roll this out, it will be presented to all supervisors and managers so that they are aware of the changes that will be put in place as well as being able to inform the staff of the upcoming changes so that they can work to achieve their goals and

Performance Management Within the Workplace The basis of the mainstream of performance appraisals within the modern workplace is one person (a manager or executive) rating one more, an intrinsically individual process. There are distinction such as 360 degree appraisals that include the judgment of others such as clientele and peers/colleagues in the process but it is the action of one person transitory judgment upon another that is subjective in nature and the root cause of many of the problems encountered in the research associated with performance appraisals. Performance appraisals are of importance to the organisation, as they often provide the only measure of an individual's contribution and

In this paper, I will discuss how to develop and how to recommend and implement an effective performance evaluation process. To begin, I will define what should be evaluated in a performance evaluation. I will than discuss and compare the relative value of common sets of evaluation criteria. Next, I will explain how it can be advantageous to have supervisors, peers and subordinates all participate in the evaluation process. Also, I will explain how it can also be disadvantageous to have supervisors; peers and subordinates to all participate in the evaluation process. Then I will compare and contrast common performance evaluation methods. I will also give examples of errors and biases that commonly

An appraisal system may provide a Human Service organization in numerous of techniques. The main reason for effective appraisal can serve for development and administrative for an organization of Human service. From the viewpoint of the administrative the main reason of the appraisal presentation system can take in numerous of decision making in regards to changes in job responsibility, reward, or promotion choices. The development reasons consist of helping and achieving employee’s best routine, appraise staffs weaknesses or strengths and figure out if other alternative for

In 1996, Citibank was an emergent banking institution attempting to increase its market share in the competitive Los Angeles area. In order to do so, the bank’s strategy was to focus slightly less on their financial growth, and much more on providing “a high level of service to its customers”. Management viewed this paradigm shift as “critical to the long term success of the franchise”.

The performance standard is zero defects: This is a technique used in the organization to make employees aware that the cost of their

Performance standards are a very integral part in the underlying business operations of any firm. Competition, particularly from foreign entities is becoming more intense. As such, standards must be created in order for companies to maintain their competitive advantage over their peers in a particular industry. One only needs to look at the auto industry to see how a lack of standards and oversight can be a detriment to business. Many foreign firms, due to competition have entered into the auto market that was once dominated solely