Strategic Goal Controlling

HR Strategies

Lucia Ruiz

Rasmussen College

Author Notes

This paper is being submitted on January 22, 2017 for Jacinta Banks’s B498 Management Capstone course.

Goal Choice

The strategic goals that are to be achieve within the time that has been set are growing the profitability and the net income that are generated by the bank. The second goal that was recognized was to please the customer by making ethical financial choses and finally becoming the best bank in the industry the world through the standards of customer service it will be offering to the clients. Out of the three goals, the major priority will be on increasing the level of profitability, and the sales revenues generated. This goal is of great significance because it will determine how well the Citi bank will continue to grow.

Attract

The human resources are working towards making sure that the employees are ready to work towards accomplishing the goal providing positive and ethical customer service. The skills that the employees must possess to ensure that the bank has achieved the goal of increasing the profitability are innovativeness, hardworking, and knowledgeable. These skills are essential for making sure that the goal has been accomplished. A sense of innovativeness is a skill that will play an important part in making sure that the bank has come up with strategies that will improve the performance of the Citi Bank service in the market.

Innovativeness will also ensure that the personal banks and tellers have developed strategies for effectively marketing the service that Citi bank provides as well as looking for a way to promote the service even further. Hard working is a skill that is of significance to the employees because it will guarantee whether they will work extra harder to accomplish the goal. The other skill is knowledgeable. The employees are supposed to have the ability to learn and gather knowledge necessary for the accomplishment of the goal. They are also demanded to can apply the knowledge in efforts to make more sales the strategies used to attract the qualified employees for hire are putting specification of the experiences and the competencies needed for the job. The other strategy that will play a crucial role in the selection of employees is conducting a thorough scrutiny of the candidates in the selection process. These strategies are aligned with the goal of increasing the profitability and the revenues. This method will take into contemplation the diverse workforce of the people who will be skilled. Having diverse workforce will be valuable to the accomplishment of the goal because people are endowed with different capabilities that are crucial to the company’s success.

Develop

Training of the employees will be conducted on a person to person basis although some of the training materials for training will be accessible online. Training will be complete to help be clarify the employees on matters concerning the market.

Areas of training that employees will cover are in the existing market of Citi Bank and the competitors that already exist in the banking industry. This area is significant for the employees to come up with strategies to use. The other area that will be covered are efforts to make a difference and increase revenues. This area is crucial for the generation of strategies to increase revenues.

The current employees should be trained on the technologies to use marketing the financial customer service. The other area where they should cover is the strategies to increase efficiency in their market operations of what the bank must offer in help customer with savings, checking loans etc. These areas will ensure that the revenue generation has increased. The training will be designed in a way that all employees will fit. Further, the employees will be put into teams to improve interactions and make sure that they have worked as a team.

Retain

The two holding strategies that will be efficient for high performing employees are good recompense and benefits packages and the other one ranking the employees per performance. The advantage of good compensation is that the employees will be content. The disadvantage associated with the strategy is that it may overload the firm. The second strategy is ranking the employees based on work ethics and performance. The advantage of the strategy is that it will grow the amount of positive work that the employee is giving to the coming and for the company. The disadvantage is that it might cause unhealthy competition thus affecting the overall performance of the firm.