MM5002 People in Organization
29111311 29111328 29111329 29111338 29111344 29111384 29111387 29111393
Haidir Afesina Hendra Winata Mita Listyatri Andek Prabowo Aprian Eka Rahadi Chairunnisa Mirhelina Franciscus Xaverius Xaverius Kresna Paska Agung Indri Pramantyo Pramantyo
Rob Parson at Morgan Stanley (A)
Outline
Strategic Leadershi p
People Factor
Problem
HR Analysis
Recomme ndation
HR Practices
Fact
“
Morgan Stanley held
The 3rd rank position with A market share of 12.2%” 12.2%”
Problem
Paul Nasr promised the PROMOTION when recruited Rob Parson to Morgan Stanley Rob Parson had GENERATED substantial revenues since joining the firm However, Rob Parson has INTERPERSONAL PROBLEMS in working with PEOPLE INSIDE the firm
DECISION MAKING to Promote as Managing Director
Performance
Organization
Division
Company Culture
Decision Do not fit the culture i.e. teamwork
Rob Parson WIL NOT GET PROMOTION
Attitude No guarantee he will change The position is crucial i.e. standard bearers to junior
“
Strong business acumen securing major deals and generating revenues for his desk ”
Rob Parson WILL STAY at the company
Strong relationship with clients ..people look forward to having meals with him
“
”
In condition not to report to Paul Nasr ..group felt that I was his protector “
”
Lesson Learn #1 Morgan Stanley, hierarchical,
“
was attempted to transform its work environtment that fosters fosters teamwork and innovation by putting putting ”
people as competitive advantage advantage
Strategic Leadership Financial Industry
Complex, fast paced, the most demanding client and global industry
Vision ONE FIRM
Mission The world`s best investment bank and the firm of choice for our clients, our people and our shareholders shareholders
Values
Strategy
Exceptional Exceptional service Integrity Dignity Respect
To provide a unified face to the customers and also to have mechanism in place to effectively coordinate work across the firm
Operating Goals & Metrics
Market Share
Strategic Leaders Consensus and Up or out Promotion system in a hierarchy as standard bearers for all junior staff
People Factor Paul Nasr
Hired by John Mack to shake up the culture
John Mack The president in 1993
Highly regarded banker
Transform the firm into “one-firm”
Leadership role
360 degree performance appraisal
“…the culture is important…”
Rob Parson
Hired by Paul Nasr as a principal Young banker with proven track record Strong relationship with important players in the industry Low adaptation to organization culture
Gary Stuart
Senior Market Coverage Professional Very good understanding of market and customer relation Think that interdependent with other professional in firm is very important
Lesson Learn #2
“
Morgan Stanley use
360 degree performance appraisal that delivers employee`s job measurement by combine information from ”
managers, peers, subordinates, self and customers
Analysis Goals Nasr said “…it takes more than traditional corporate banker to get this job done” done ” Stuart said “He makes things happen that wouldn`t otherwise happen” happen”
Hierarchy PAUL NASR PROBLEMS
“A self starter who is unusually aggressive in pursuing the business” business” “He has made a big difference with several clients” clients”
LEADERSHIP GAPS
gloves” “I handled him with kid gloves”
Nasr said “…in the meantime he broken every following rule within Morgan Stanley to get there” there”
“..give him time. He doesn't’ doesn't ’t know the Morgan Stanley system yet.” yet.”
Rob Parson said “What`s the problem? What did I do wrong?” wrong? ”
Hire reactively in order to develop presence in the market
360 Degree comments
360 Degree comments ““Lack skills Lackof ofteam teamplayer playerskills” skill ”” skill” “…are not happy with him basically questioning their prices….are not happy with him questioning their knowledge of the markets” markets ”
Lesson Learn #3 “
A star from previous company, when joining new company,
not only has to understand the products but also The people, processes, platform, and politics that delivers collaborations and delegation of organization culture
HR Practices How to say to Rob Parson?
What
Acknowledge the positive
How
Say it`s company decision that he would not get the promotion “
”
Where
Provide the negative
Talk about the future
Say As supervisor I didn`t do good job orienting and developing Rob to fit the culture “
”
Say What can we do together to improve in the future? “
”
Make it informal, to create a dialog in a relax place to get Rob Parson to talk (discussion). Preferably Preferably outside the company e.g cafe
Recommendations •
Hire Strategically not reactively
•
Developed the company stars to create the sustainable competitive advantage i.e. Mapping and create the program
•
Compensation for stars i.e. Compensation based performance
•
On board deep orientation orientation i.e. Emphasized Emphasized the important of the organiza organization tion culture and goals since st the 1 day to every new employee
•
Performance feedback to every employees
i.e. Unfortunately, the people who typically receive the least attention from their boss are the average performers. However, they are the ones who could probably benefit from it the most
Exhibit 3 – E&D Summary Form(1) Evaluation and Development Summary
Evaluatee: Evalua tee: Parson, Robert,L
Evaluation Evalua tion Director: Nasr, Nasr, Paul A
Title : Principal
Signature :
Div/Dept : IBD/Capital Market
Date : Review of Performance
Performance Summary, including accomplishment -Has almost good in Professional Professional Skills and Commercial Orientation. - Average Average on Management Skills - Low on One Firm Contribution, especially in Team Team Player Skills with downward Evaluation THEMES Strengths
Comments
1. Professional Professional Skills
Mostly very high rating of this item
2. Commercial Orientation
Need development on Adherence to firm policies
Exhibit 3 – E&D Summary Form(2) Evaluation and Development Summary
Evaluatee: Evaluat ee: Parson, Robert,L
Evaluation Evaluat ion Director: Director : Nasr, Nasr, Paul A
EVALUATION THEMES Development Area
Comments
1. One Firm contribution contribu tion
Low Team Player Skills
2. Management Skills
Low leadership & management of people, evaluation, development and coaching, management of diverse workforce
PERFORMANCE OBJECTIVE FOR NEXT YEAR: Business Goals : increase market share and got the second rank position Professional Professional Development Development Goals : Develop Develop the team player sense sense and absorb the culture of Morgan Stanley CAREER GOALS -Short term : Principal while development low item of his performance rating as
