FINANCIAL SERVICES CASE STUDY

CASE BACKGROUND

• Citigroup Inc , a major global financial

company
• Based in New york
• Staff, 260,000, Opn-140 count and has
16,000 offices
• FS development/ competition led to
massive changes & Reorganization.
• Included mergers and acquisitions.
• Mergers led to dept to cut 25%
personnel.
• Remaining Reorganized into focus work
team.
 TEAM ISSUES

• Very low morale among the remaining employees, "the survivors”

• Very poor trust levels between staff and management, fear and
uncertainty

• poor level of trust and communication between employees from

different pre-merger companies.

• Poor levels of teamwork, finger pointing and blame fixing

• Disorganized approaches to servicing the business unit customers

 SOLUTIONS

• Citigroup partners with change consulting company Inner Work to

rebuild morale, productivity, and customer focus in a major I.T.
division.

• Inner Work came out with a number of change solutions over a six-
month period.

• Small internal leadership Guidance Team was organized, to help

define and guide the effort.

• Inner Work and Guidance Team developed Self Change, Team

Change, and Business Change programs to be delivered through off-
site and onsite sessions
 SOLUTIONS CONT ……

 Project’s Measurement System was introduced to examine 12 key behavioural

measures of individual and team performance and 3 key business measures
•  
• The project was to create:
• 1. a significant reduction in software development time;
• 2. a significant increase in mainframe system uptime;
• 3. a significant increase in work team productivity
•  
 Also, with the direction of Guidance Team, InnerWork was to provide targeted
facilitation and coaching on an as-needed basis through the six-month period
•  
 Conscious creation of a work place “community” where people now spent time
together outside of work was facilitated
 RESULTS
Within six months dramatic change in performance, both internally and with customers.
 
The culture of the department shifted from "we are survivors" to "we can make things happen"

Core behavioural changes from the baselines:

• 76% increase in trust levels
• 32% - 85% increases in various measures of team effectiveness
• 48% increase in open, honest communication (a key factor on building trust)
• Reduction in stress and Increse in fun
• 75% increase in commitment to the organization
 
Impressive changes in business results:
• a 75% reduction in cycle time for software development;
• an increase in mainframe system uptime from 92% to 99%;
• a 33% - 50% increase in work team productivity
 
30 quality and productivity issues were resolved
 LESSONS LEARNED

• Team spirit is one of key factors for companies’ business performance

• Employees’ individual Self Change is crucial for organization changes

• Trust of employees should be consistently maintained

• Management communication with employees should intensify in

reorganization and mergers periods

• Combining professionals from merging companies requires team building

initiation

• Team building process requires systematic and professional approach

 RECOMMENDATIONS
People are business”
• “

• To identify priority business, process, and behavioral areas for change management and
organizational development

• To develop teams / groups collaboration and teamwork skills

• To encourage individuals to adopt high performance attitudes, emotions, and behaviors

• To implement results based actions with teams and individuals on the priority areas

• To adopt Inner Work’s practice and methods in the organizational change and to sustain
and measure your results (business and behavioral) over a period of time

• To maintain employee engagement in all three integral levels of performance: the

individual; the team / group; and the organization
•  
THANK YOU