Encouraging Your Mission and Values in the Workplace - Essay Example

For example, I have been tasked to be the consultant of Barclays bank and at present is considered one of the most successful and prestigious bank in UK. There are those who attribute the success because of the bank's management within the workplace with regards to its manpower, policies, directives and similar occurrences which contributes to its emergence to the top. Basically, like any other banks and companies, it started from scratch and with nearly 300 years of banking experience, one cannot help but to wonder, why is it that this bank has become a force to reckon with in terms of banking prowess since majority of the banks in the UK are using the same banking format, offering the same interest rate With this, one could have the idea that there is a special ingredient or formula which the Bank imposes in which the customers have this sense of satisfaction that is why they keep on coming back to once again avail the services that this bank offers. Perhaps one would say that it is because the bank has already established its name considering the quantity of time that it has penetrated the UK banking arena; it has marked its name among its consumers considering the amount of time that it renders among its consumers. Basically, the thinking that due to the fact that it has been in the market for quite a long time, then it has the skill and expertise needed in banking industry. Secondly, the thought that it won't stay that long of the company didn't earn the trust of the consumers. Considering the present state of bank market nowadays, is it enough to rely on the aforementioned premises to attribute the success of the said bank In this case, the answer would be obvious, it is a big NO. Due to tougher, competition among several bankers, relying on the name alone plus the quantity if stay in the market is not enough to consider the case because of changing times, customers have different needs . In dealing with the present competition, laying down the master and contingency plan to address the further success of the company is the most important thing to do. Before, plunging into a more delicate issue concerning competitions and plans, looking back to where the company has started is an important thing to do in order to draft plans in relation to the next step that the bank must do to be on top despite the threat of hundreds of competitors encircling the competitive arena. In dealing with the bank's history, the company website barclays.co.uk (2007) revealed that "Barclays origins can be traced back to a modest business founded more than 300 years ago in the heart of London's financial district. In the late 17th Century, the streets of the City of London may not have been paved with gold, but they were filled with goldsmith-bankers. They provided monarchs and merchants with the money they needed to fund their ventures around the world. One such business was founded by John Freame and his partner Thomas Gould in Lombard Street in 1690. The name Barclay became associated with the company in 1736, when James Barclay - who had married John Freame's daughter - became a partner. Private banking businesses were commonplace in the 18th Century, keeping their clients' gold deposits secure and lending to credit-worthy merchants. In 1896, 20 of them formed a new joint-stock bank. The leading partners of the new bank, which was named Barclay and Company, were already connected by a web of family, business and religious relationships. The company became known as the Quaker Bank, because this was the family tradition of the founding families" Understanding the company's history is an important thing to do to formulate draft since a saying goes that it is impossible for you to reach your destination without looking back to where you have started. The same thing in formulation of plans regarding the success of the business lies within the formula from where the company has started. Basically, it started from different ventures and from different businesses delivered and catered different types of customers. In this case, if the given premise and the formula seem to be effective even at present, then the company has to retain such a status due on the basis that the strategy is still effective. Basically, the company, if we are to deal with the strategy that was and are still being implied by the company has something to do with external matters, and in this case, the company have showcased its Public Relations and has earned its social status within the UK market. To further understand the premise, if we are to analyze, the company's success could also be attributed on how it earned its reputation on the basis of taking care of its name towards the public and in general. If this is the case, then the recommendation concerning its external affairs should remain as is. In this case, there is no need to overhaul the external affairs of the bank since it has a good standing plus its positive impression on public eyes. Furthermore, the recommendation of retaining and maintaining the kind of approach of the bank concerning external affairs should be strongly stressed. It should also be indicated that by no means, until the said strategy is proved to be useless, this kind of formula must be altered. Secondly, looking into the investments that the bank acquires and are venturing is also important to know whether the investments that is being acquired and ventured in is marketable. Also, it is very important to know whether such an investment have a higher market value to judge against the cost of investment that the bank releases. In this case, one would ensure that the waste of money would be avoided. For instance, the investment must at least be a factor of bank's operation- could be modernization of the equipment and similar functions. This move is considered in accordance to the creativity and innovations of the banking operation. The perfect example of this is the pact between siemens and the aforementioned company. The website webwire.com (2006) reported that "Siemens Business Services has today announced the extension of its business process outsourcing (BPO) contract with Barclays, in a multi-million pound deal. This extension to 2008 is the second since the beginning of the relationship with Barclays in 2000. Siemens Business Services is operating areas of Barclays' retail banking back office, including: account closures, transfer of funds and administrative processing for direct debit and standing order instructions. Back office operations have been transformed through improved operational efficiencies, including the deployment of imaging technologies along with the use of workflow solutions. The continuous improvements results in a cost effective, high performance operation that consistently exceeds service levels and delivers resilience and business continuity..." In this case, the bank has ensured that it set the trend for innovation of services in which, one way or the other could lessen the workloads of the people as well as this would also ensure fast and accurate services within the customers and consumers. In this case, it would be established that the bank aside from its concern with regards to the customers, do have concern with its employees. Such a practice must be observed since the employees are regarded as the frontline of the operation and therefore, the bank must also provide the necessary move to lighten the load of the employees. This would ensure the welfare of the employees. Speaking of the employees' welfare, lightening of their workloads must not be the sole-end of the banks objective concerning these people. Having been regarded as the frontline of the operation, the workers must have the benefits and incentives that they deserve. Of course, aside from paying these people the salary that the law requires, giving auxiliary and miscellaneous incentives are also important in order to provide and ensure the loyalty among these people. Of course, loyalty plays a major part in the success of the company since hiring of personnel is a complicated task to deal with. In the absence of loyalty, the company would be engaged into a cycle of hiring and exodus of the employees which would affect the consistency of the operation of the company. In this regard, it is very important to consider this kind of premise to be included in the list that must be given priority with regards to the company's success. In the case of the company's success, making the people stay or ensuring their loyalty is not only the important part that must be looked upon. It is also important to make these employees useful as they can be. In this case, ensuring the efficiency of the manpower is also a thing that must not be neglected. There are a lot of things to be considered in order to ensure the efficiency of a certain employee in relation to his/her regard towards work. In this case, one must ensure that the right approach must be placed to a right employee in order to have and obtain the intended output with regards to the betterment of the company. In this case, it is important to change the drive of these people or to stimulate their movements to further add a "cause" to what they are doing. Stimulating the employees means adding a more beneficial drive in order for the employees to perform much well than what they have expected. What are those stimulating activities This could be started with humours concerning office matters or as complicated as putting up pressure with regards to the deadlines, intended outcome of the organization and several related matters concerning these matters. Whatever the cause or the way how such things are introduced, it must be looked into the output of it which is to add and create drive within the employees to perform their duties. In this case, establishing and introducing a driving force within the organization is beneficial to the people concerned (employees) and to the companies in general. After determining the stimulating factor that is appropriate to the workplace, the next best thing to do is to encourage the employees that they can do things beyond their perception on their capabilities. In this regards, this would boost their morale and would further help them feel that they are not alone in fulfilling a certain responsibility but rather he is a part of a collective effort in the bank that contributes to the whole success of the company. A simple word of encouragement to the employees is an important start to boost the morale of the employees to get their job done. Also, the mission and vision of the company is also an important encouraging factor. This must be inculcated to the people within the company. Duffy (2007) further implied that ".If you're an established business, you probably have a mission statement written somewhere in your business plan. You may even have your mission statement emblazoned on the front of every employee handbook or framed in the lobby of your office. But when is the last time your employees actually talked about your company's mission statement Mission statements are not meant to be arcane exercises that become dry words on a piece of paper. They are, in fact, meant to serve as a powerful inspirational tool for your employees to help drive a business where it needs to go" This means that encouraging someone doesn't need much effort. To add to that sometimes encouraging the employees requires effort from the management-One of which is the so called meritocracy or reward system. In this case the people will be rewarded according to their performance and the better they perform with their jobs, the more the company would reward them. This would ensure a good relationship between the company and the people (employees). To sum up the recommendation, it all boils down to one thing; improve the working condition of the workplace. This thing would be made possible if the people (employees) would have more than enough reason to pursue their works in order for them to showcase efficiency and with this, they could develop a sense of loyalty for the betterment of the company. These are the only areas that are in need of remedy. As for the external matters, maintaining its present status with regards to its image and perception of the public is an important thing to do. However, while maintaining its status, the bank must not be complacent but rather, during this time, must find ways on how to further improve its external affairs with the public and several ventures. Reference 1) barclays.co.uk (2007). Company History. Opened May 3, 2007 URL available http://www.newsroom.barclays.co.uk/content/detail.aspNewsAreaID=19 2) webwire.com (2006). Barclays extends major BPO contract with Siemens Business Services until 2008. Opened May 3, 2007 URL available http://www.webwire.com/ViewPressRel.aspaId=24023 3) Duffy (2007) Encouraging Your Mission and Values in the Workplace. Opened May 3, 2007. URL available http://www.nfib.com/object/IO_32926.html Read More