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Dissatisfaction with Working Conditions in the New York Bank - Essay Example

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This research aims to evaluate and present dissatisfaction with working conditions in the New York bank. Since its inception in 2007, the One Wall Street branch of Bank of New York was on an upward trend in both volume and quality until 2009 when global recession was at its worst. …
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Dissatisfaction with Working Conditions in the New York Bank
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Download file to see previous pages It is evidently clear from the discussion that after the recession, all stakeholders of the Bank of New York expected the situation to turn around and growth to be exponential, which has not been the case. The marketing and customer care departments are responsible for retention of old customers and acquisition of new ones, respectively. These departments fall under the human resource management whose work is to find, train, employ and retain the best human resource. John Doe is the marketing manager for the New York branch of the bank of New York. He is responsible for organizing his team whose work is to attract new customers into the firm. While the customer care department has improved its services and managed to retain a high percentage of existing customers, the marketing manager has failed to organize his team to bring in new ones. At first, John was remarkably effective in disseminating his duties and organizing his team, a task he is failing these days. John has a master’s degree in management, a degree he acquired after working in the bank for two years. He can successfully organize the marketing team based on his high qualifications and work experience since he has worked in the bank for 4 years. In fact, before the recession, he was doing an admirable job and the bank had new customers flocking it halls resulting in high profits. When the recession hit, it affected John more than any other employee; colleagues suggest that the economic slowdown gave him time to rethink his career path. The management had observed that the marketing department employees were not achieving their set targets, and few of them even cared about it; they seemed to have lost hope in their role at the bank. As observed by all stakeholders, employees in the marketing department always have something to complain about their work, the bank, customers and many other aspects of their jobs. Results revealed that all of them are quite demotivated; they work just to pay their bills. In addition, all employees in a group that should work as a team for maximum productivity work as separate entities, significantly compromise their work due to inefficiency resulting from duplication of efforts. This duplication is because of failure in the set communication channels. The management has to do something about the affairs in the marketing department as the disorganization resulting from John’s inefficiency is jeopardizing the future of the bank. The main proposal is for the management to facilitate changes that will result to improved communication, encourage innovation, increased consultation with employees, and high but sustainable efficiency in use of resources. Little communication, or lack of it, among employees and between employees and management, has caused the situation to reach alarming levels. There should be forums where employees can let the management know about all their concerns on matters affecting them in the workplace, and management should have a way of voicing its concerns while considering employees’ welfare. Members of the group should work together to encourage bonding, ensuring that each of them feels as part of a team rather than work in isolation. Communication of employees with the management should not occur when the former are receiving absolute orders, it should include consultations before the latter makes far-reaching decisions. ...Download file to see next pagesRead More
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