Appendix A: Barclay’s employees Essay

Barclays Bank Organizational Strategy and Employee Morale family 15, 2007? Contents Barclays Bank 3 Roadmap-Thesis 5 Interview Results 5 Academic Research Recommendations for Improvement 7 Conclusion 10 References 12 Appendix A Barclays Employees 14 Appendix B Employee Interviews 15 Appendix C Framework For Improvement 19 ? Barclays Bank Barclays is the third largest brim in the get together Kingdom. The bank toilet trace its roots back to 1690 in capital of the United Kingdom. The name Barclay first arose in 1736. instantly the bank is a global financial service provider operating in the UK, Europe, United States, and Africa. The banks headquarters are at One Churchill Place in Canary Wharf, in Lon male parents Docklands, having moved there in May 2005 from Lombard Street in the City of London. Barclays US headquarters are in Wilmington, Delaware where it acquired the former Juniper Bank (Answers Barclays Bank 2006). Barclays is a UK-based financial run group, with a very large international presence in Europe, the USA, Africa and Asia.It is engaged primarily in banking, investment funds banking and investment management. In terms of market capitalisation, Barclays is one of the largest financial services companies in the world (Barclays Newsroom 2006). Barclays has been convolute in banking for over 300 years and operates in over 60 countries with more than 113,000 permanent employees (including 33,500 at Absa). For the year ended 31st December 2005, the group achieved a pre-tax profit of ? 5,280 million, up fifteen per cent on 2004. In 2005 Barclays paid approximately ? 3 billion in taxes (Barclays Newsroom 2006).Customers are served through a variety of channels comprising the branch network, cash machines, telephone banking, online banking and relationship managers. It is managed through two business areas, UK sell Banking and UK Business Banking. In UK Retail Banking there are 14 million retail clients, including current accounts, savings, mortgage s, and general insurance (Barclays Newsroom 2006). Local Business provides banking services to 592,000 guests UK Premier provides banking, investment products and advice to 286,000 affluent customers (Barclays Newsroom 2006).UK Business Banking provides relationship banking to bigger and medium-sized businesses. 183, 000 customers are served by a network of relationship and industry sector specialist managers (Barclays Newsroom 2006). Barclays strategic objective is to To deliver top quartile total shareholder return relative to our peers, consistently over date (Barclays p 2 2004). The company steeringes directly on increasing shareholder value rather than employee store and morale. Barclays does not experience a directly available mission and values statement that is transparent to the external environment.The internal environment at Barclays is one of traditional top-down management. The corporate finishing at Barclays maintains a hierarchy of experience and education, whe re the management team places a large substance of focus on meeting the shareholder strategy. According to Barclays In recent months, we have interpreted a number of steps to enhance further our corporate governance practices. We have expanded the hold over of the Remuneration Committee to cover strategic human resource issues (Barclays 2004 p 3).These strategic changes include continued and upgraded our investment in established programs for the community, e property and diversity, and the environment built on our reputation as a pioneer and leader in the field of financial inclusion excellent terms and conditions for colleagues wedge by offshore outsourcing developed a clear statement on human rights, and continued our friendship in the Business Leaders Initiative on Human Rights and made good progress in adapting our branches and offices to be fully accessible to customers with disabilities (Barclays p 12 2004).Barclays did not, however, remunerate a corporate strategy or mi ssion to address its near 20% turnover rate which has been continuous and barely changing for the past three years, an indication that Barclays focus is on stakeholder value and not developing or addressing employee morale. However, Barclays does have a large focus on community service, receiving the 2004 National Business Award for corporal Social Responsibility (Barclays p 12 2004). (Barclays p 47 2005) ? Appendix B Employee Interviews Employee 1 What is your employment and role at Barclays? I am a telephone operator and sales advisor, functional both the phone lines and desk.Sales advisors are front-line employees performing work at the transaction level. We are apply to customer satisfaction and providing great service. We want to provide great service but recognize the challenges in improving the work processes. What are your beliefs about Barclays strategic objective? Our philosophy is client centred. I believe the clients have ultimate knowledge of themselves and that t he bankers billet is to draw out this training and insight, encourage clients organize it, and give birth clients to use their funds better. What are these challenges in improving the work process? authorisation politics at all levels, particularly where reports of motivation and such are concerned, there is some clippings when they telephone out the good, and embarrassingly the bad also. Sometimes leaders is motivational but not everlastingly. So, if you have a good idea and you dont hobnob with the management, you are not going to be listened to. The aforementioned(prenominal) is true if you are having a problem, or a customer is being overly abrasive towards you. It can be a little insane. Can you explain the leadership strategy in motivation? They focus on certain people and not the whole department or team.Favoritism is the coin of the soil in my department. The code of silence dictates that discipline must be administered when broken and rewarded with favor when adhere d to, in line of descent to a system where one is encouraged to excel. My department operates more on the prison model of conduct control. What are your beliefs about Barclays strategic objective? Our philosophy is client centred. I believe the clients have ultimate knowledge of themselves and that the bankers romp is to draw out this information and insight, dish out clients organize it, and stimulate clients to use their funds better.What do Barclays mission and value statements mean to you? Value of an open, thoughtful and complementary color approach to quality informed customers and developing customer loyalty. a planned and systematic approach to quality including ensuring that the results of monitoring and evaluation are fed back in order to effect improvement. How does Barclays leadership ensure proper monitoring and evaluation? Use of internal performance/service benchmarks is not decent although several recognized performance indicators are used by managers, but custo mer satisfaction information should be requested for each purchasing transaction.There is a lack of cooperative work processes and reinforcement information systems which negatively impact customer service. What kind of customer service do you try to perform? I believe in being responsive to what the customer wants as opposed to what she ought to have. With service, you also of all time tell the truth as you see it. I put a lot of emphasis on contracting-what can I do for her that will be of value to her in that time frame. Does leadership supporter you want to provide good customer service? Leadership has not helped me want to provide customer service. Not everyone is a decent human being. Not all are treated with respect.Someone naughtily rude in the office and nothing is done as it is not viewed as wrong. Employee 2 What is your job and role at Barclays? I provide telephone customer service. What are your beliefs about Barclays strategic objective? There is an emphasis on cust omer service as a number one wood of business performance. What does customer service entail? I have to have an in-depth understanding of various components including seam option and restricted share award processes eligibility requirements and knowledge of plan design, alternative practices and business charters/issues and I use this to help the customer build their best banking services.I have to be able to skip over and monitor customer accounts and customer service. Does Barclays give you frequent training and all the materials you need to do your job? No. I wish I had access to more ongoing training program for customer service as what I do is quite complex and precision is very important so the customers bank accounts are all correct. Some managers are really willing to help you out. Others talk to you like you are an idiot for asking for help.It is a half and half shot at getting training or help with something, unless it comes from corporate management. How does corporat e management get information or motivation to you? I dont think corporate has motivated anyone. They send training videos or PowerPoint presentations explaining the importance of customer service, but what I really want is more technical training so I can give better customer service. Im already polite and courteous. How do your direct leaders motivate you to give good customer service?Management appears to want to halt this an issue and an expectation that everyone should jump on board. If someone becomes ostracized or somehow made less because they dont buy into the hubbub, it seems weve just created a worse problem. Its almost a Catch-22, Im not engaged all the way because they dont give me what I really need and I get treated like Im a moron, but they expect me to always smile and be happy, even when the manager is quite literally rolling her eyes at me.Its a terrible, rude atmosphere at least half of the time. What about the other half of the time? How do you feel about engagi ng with your job? I am not sure how to respond. I talk to customers and do what they ask as quickly as possible and sometimes I perplex recommendations for better banking, but I dont know how this engages the customer one way or the other. ? Appendix C Framework For Improvement.