A DIFFICULT HIRING IN DECISION AT CENTRAL BANK

Written Analysis and Communication

COURSE INSTRUCTOR: Prof. Mukesh Kumar

Submitted by
VISHAL GUPTA
MBA07232
SECTION D
 Table of Contents

1.EXECUTIVE SUMMARY:......................................................................................................................3
2.SITUATION ANALYSIS:........................................................................................................................3
3.PROBLEM/OBJECTIVE:........................................................................................................................3
4.THE OPTIONS AVAILABLE:................................................................................................................4
5.CRITERIA FOR EVALUATION:...........................................................................................................4
6.EVALUATION OF OPTIONS:................................................................................................................4
7.THE RECOMMENDATION:..................................................................................................................5
8.ACTION PLAN:.......................................................................................................................................6
9.CONTINGENCY PLAN:.........................................................................................................................6

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 Letter of Transmittal

December 21st, 2020

Martin Smith,
Vice-President,
Regional Sales,
Central Bank, Outside Torrento,
CANADA

Dentist and Head administrator

Skyline, Virginia.

Subject: - Submission of analysis report on " HIRING DECISION AT CENTRAL BANK (A)"

Dear Dr.Fox,

I am submitting herewith the overall analysis of the options by keeping all the considerations in mind.
While conducting the analysis, I have also tried to keep in mind the long-term growth prospects and the owner's
vision of the company and tried my best to provide a viable solution.

Thank you

Regards,

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1.EXECUTIVE SUMMARY:

The Central Bank, located in Canada, is one of the largest retail banking service providers. It generally employs
in-branch professionals, who provide a range of financial services, like savings and chequing accounts,
mortgages and loans, small business credit solutions and investment products, to complete financial planning to
their customers.

The main purpose for the position of Vice president Sales, is to lead effective and profitable sales execution of
multiple customer offers in the Region and to maximize the contribution generated by its retail customers.
Further, it is expected from the recruited person, to gain the market share in the region and increase the
profitability through excellent customer and employee experience delivery service delivery. There are several
competencies, and attributes required for this job and also the accountability is also expected from them. As
per the given facts in the case, The bank has just discharged Mr Martin Smith, VP (sales), and we are hired to
help the selection process, while taking the consideration, the values, vision and mission. The case analyses the
pros and cons of the given candidates, which would help decide the best candidate.

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2.SITUATION ANALYSIS:

The case talks about the central bank, which has its presence over 1200 locations in the Canadian Marketplace.
Their in-house professionals provide various banking services such as savings and chequing accounts,
mortgages and loans, small business credit solutions and investment products, to complete financial planning to
their clients. As all of their products are sold on the delivery of excellent customer and employee experience,
the Vice President -Sales (VP), job is of utmost importance, and it is expected from the VP of their bank is to
ensure providing of the above experience through inspiring commitment towards the vision of the bank among
employees and colleagues in a manner that works best for the bank and its customers and to develop,
communicate and manage an aggressive regional sales plan, building a customer focused high-performing sales
team, to maximize the profitability, growth and customer loyalty, to ensure all delegated roles, responsibilities
and accountabilities are understood and to measure and manage the performance, maintaining the high levels of
motivation among employees, and to develop close partnership with local leaders of all customers and various
other initiatives to develop the relationship between the inhouse professionals and the clients, to achieve the
maximum profit.

Mr Martin Smith VP, regional sales, was recently let go, on account of various issues that were not properly
addressed by him. The company has done the initial screening and have screened 3 persons.

3.PROBLEM/OBJECTIVE:

The primary objective is to find the most suitable and a good “succession” candidate for Mr. Smith. The
candidate should be the one who can build a new team, exit the players who can’t deliver, recruit the people
who can deliver and have required value, who can build relationships with other segments to grow the business.

4.THE OPTION AVAILABLE:

The Bank has the following options to consider for the selection for VP post-
1. Charlotte Webb: - Currently working as Senior Director, Customer Experience, Marketing Division
(Toronto), having 10+ years of experience, and she has achieved the growth of 24% in revenue, versus
the corporate target of 12%-, and ten-point increase in customer satisfaction. She is the only internal
candidate shortlisted. She is a seasoned author and executor of corporate strategies that delivered the
results.
2. T. Scott Warren: - Currently working as Regional Vice President, at Royal Bank of Canada, having 10+
years of experience, and he has executed a radical change in region leading to gaining first place from
last place, within just 18 months. He has also managed to increase the sales volume by 60%.
3. James (JIM) Skinner: - Currently working as District Vice President, ____________________________.

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5.CRITERIA FOR EVALUATION:

The company needs following attributes from the new Vice President to deliver on the following point, hence
we must consider the following criteria while making a decision:

 Build a new team- The previous VP had a problem, and was unable to exit the players who could not
perform, and now the bank is looking for making new teams to attain the higher profit margin by
delivering the holistic experience to the consumers and wishes to exit players who can’t deliver.
 Hire well- the company is looking for hiring the new employees who have requisite value and can
deliver the goods in time.
 Buy into new Sales process / value of a more disciplined approach- As the bank is looking for major
turnaround, the bank is looking for the VP who could deliver them, a new sales process to increase their
revenue.
 Employ a person to build trust with other segments of the business-The New VP should be able to
employ a person to build the trust with other segments of the business, so that inter departmental
working is improved resulting in better customer satisfaction and smooth working of the Bank.

6.EVALUATION OF OPTIONS:

I have employed the method of SWOT Analysis of all the screened candidates to understand which candidate is
better suitable for the Bank.

a. Charlotte Web:-
Strength: -
i. Internal Candidate, hence, no extra cost of onboarding and already have the knowledge of internal
working environment of the Central Bank.
ii. High Morale displayed at early stage.
iii. She has worked with the Bank as a teller and in marketing division
iv. She sustained high performance ratings over the last 6 years
v. As per the criteria for evaluation, she has good mentoring skills, she provides good exposure to all the
persons working under her, and she gives emphasis on personal development.
vi. She hires on potentials
vii. Successfully developed strategies, objectives and sales program.
viii. Mrs Web has worked with the World Bank, have knowledge of working with different interdepartmental.

Weakness: -
i. Lack of experience as she has minimal front line interaction
ii. She is niece of the Central Bank Board member
iii. Not fired anyone
iv. Personal issues may affect the immediate needs of the Bank.

Opportunities:-
i. Successful Strategist, superior analytic skills
ii. She has good influential skills, Big picture thinker and has long term perspectives
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 iii. Had operationalized and executed sales program for small business that resulted in aggressive growth,
successfully led a roll out sales process across Canada.

Threat:-

i. First front-line Role

ii. Emotional

b. Scott Warren:-
Strength: -
i. Driven, Result oriented and huge capacity for work.
ii. As per the criteria for evaluation, he has exited 35% of sales staff and redeployed additional 15% more.
iii. Worked with different departments closely to hone prospecting skill and reduce losses.
iv. Executed turnaround of small but lucrative territory, and moved area from last to first place.
v. Increased sales volumes by 60% for the last two years, significantly exceeding profitability and cost
management targets.
vi. Contributes to the community.

Weakness: -
i. Risk taker with people’s money, and may be termed as immoral.
ii. Not good listener.
iii. Doesn’t work very long in one firm for a very long time
iv. The results shown by warren may be due to the project initiated prior to his arrival or executed after his
departure.

Opportunities:-
i. Can achieve high target goals.
ii. Strong leader, driven and may satisfy shareholders.
iii. Had many different jobs.

Threat:-

i. Bad communication skills

ii. Has trouble telling the truth

c. James Skinner:-
Strength: -
i. Has good communication skills.
ii. Able to build trust and trusted advisor to senior management and staff alike.
iii. He is able to turnaround under performing units in past.
iv. Honest and achieved result through people and teamwork.
v. Result focused.
vi. Significant first line experience

Weakness: -
i. Takes time to understand the variables.
ii. Unfamiliar to workplace culture and may not be able to take tough decisions.
iii. Worked for very long time (26 years) in the same organization and thus may be accustomed to do things
in only a certain way.

Opportunities:-
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 i. Can bring in new ideas to the Bank.
ii. Has worked with many roles, hence, may be able to better deliver the inter-department communication

Threat:-

i. Not profit driven.

ii. Personal issues may hinder the focus required to put for this job.

The following are various pros and cons of the three Candidates options:

Charlotte Web:-
Pros:-
 12% higher revenue growth over the target (24% achieving the target)
 Has strong leadership skills and knows the internal environment of the bank.
 Strong analytical skills and financial knowledge
 Had operationalized and executed sales program for small business that resulted in aggressive growth,
successfully led a roll out sales process across Canada.

Cons:-
 Unsure of maternity leaves
 Very less frontline experience
 Emotional

Scott Warren: -
Pros: -
 60% sales increase, which was a major turnaround for the Bank.
 Result oriented person.
 Exceeded profitability and cost management target in Toronto.
 Have fired and reallocated employees in sales to achieve target.

Cons:-
 Questionable Morale
 Not very good communication skills.
 Leaves job in just 2 years.

James Skinner: -
Pros: -
 Good communication and leadership skills.
 Encourage and excel at teamwork
 Strong coaching and mentoring skills.

Cons:-
 Unsure about moving to the new firm.
 Analytical skills are weaker.
 Personal reasons like sickness of wife may affect his performance at the Bank.

7.THE RECOMMENDATION:

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 The best option available after analyzing all the three candidates appears to be Charlotte Web, as she has
knowledge regarding the internal environment of the Bank, and has all the values that the Central Bank is
looking for in her, which are trust, teamwork, relationship building ability and very good analytical skill.
She has good focus on customer and have received very high performance ratings for past 6 years and have
earned numerous awards internally. She was looking for the inside growth opportunities. Her good
communication skills will work for the betterment of consumers, employees and higher management as
well.

8.CONTINGENCY PLAN:

1. Account of maternity leave- If Mrs. web goes for the maternity urgently and the bank is in utmost need
for the VP sales, then the 2nd choice for the job is Mr. James Skinner, as he has the required skills for
handling the teams and has very high frontline working experience. He has always been morale and this
will help him to upscale the image of the Central Bank.
2. Major Sales force is required- In case the bank requires to deliver the VP sales to deliver the good
sales, then Mr Scott Warren could be the 2 nd choice, as he has delivered the 60% sales target in very
small time and if his past trend continues and he leaves the firm within 1-2 years, the same post may
again be given to Ms. Web.
3.