The basic query in front of Capital One, a US-based financial institution holding company, is how to assess the performance of their analysts issuing credit cards to the clients. At this time, the skill assessment depends on maximizing number of applications prepared per hour. This augments the pressure around the analysts to examine more applications and achieve better bonuses at the expense of substandard evaluation. The various other parameters considered as a part of performance review will be limited in scope and also subjective in nature (eg: quality check by supervisors, right conduct, and regularity) The problem could be resolved by simply changing the assessment standards and offering a weightage with each of the fresh criteria to realign the goals with the employee with those of the business. * Assessing the number of applications processed each day with a excess weight of 2 * No of accumulated bad accounts for the past 2 years with a weight of 2 (lesser the quantity of bad debts, better is the score) * 360o feedback on each of your analyst, by manager, subordinates, peers and clients (each with a excess weight of 1) * Number of trainings and workshops went to with a fat of 2 A few innovative performance incentives may drive employees to do better. * Employee stock options
2. Higher monetary incentives to get decreased poor accounts
5. Employee in the quarter, depending on team voting
2. Best Instructor award, intended for higher competent analysts whom help the new employees with the work * Team honours, to inspire team job and shared coordination among the list of analysts Experienced analysts invariably is an important advantage to the organization, whose expertise could be tapped to train the less knowledgeable employees and thereby improve the firm's overall performance. The following strategies can be executed. * Saving of training program for future reference and cost saving * Schooling based bonuses to encourage the teachers
Within one year, a fair calculate can be determined according to amount put in...
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