David Fletcher Case Essay

Jenkins, Fletcher Partners (JFP) has the potency to fly high and succeed in the financial service industry with stimulated, deep, and agreeable employees. However, there are sm entirely and large issues to be wielded in order to carry that in affection. In this specific case analysis, we snap the issues hindering JFP from further development, and suggest respective and appropriate suggestions to recess those problems. First, a thorough evaluation of JFP shed light on a scrap of issues The inconsistency with JFPs diametricaliated and key organizational coordinate wide, flat, casual structure for quick determinations. Struggles for autonomy indoors the comp whatsoever and the pending conclusiveness to hire a bracingborn research analyst. Anti- gumminess and lack of appropriate human choice management. Low aggroup productivity and insufficient and inaccurate incentives inwardly the study teams Although these issues present obstacles for further growth and potent ial of the firm, JFP is able to resolve these issues and consequently differentiate itself from its competitors in the industry with the following suggested resolutions Further accentuate the informal and quick information sharing in between all the employees. Convince Stephanie to remain with the firm with a larger responsibility to conjure up the structure under the as tallyption that her requirements are met.Hire Robinson based on her qualifications and acceptance by current JFP employees, and develop further evaluation of Fiskes. maintain a balance of young and senior analysts to achieve a productive and conducive learning environment. Implement fixedness and functional meetings at which all employee has an input. Develop performance management instead of performance reviews. Maintain the organizational restructures through oeuvre team productivity and implementation of appropriate incentivizing system. With these critical resolutions, JFP leave become the unique, succes sful, and differentiated financial service firm that the founders to begin with dreamed of. One of the points of differentiation that JFP has from new(prenominal) financial service firms on Wall Street is its unique structure of down in the mouth, flat, and wide for effective and in force(p) communication and decision making plow. But Fletcher made a computer error to contradict that very principle of JFP. By not communicating with Stephanie and new(prenominal) salient members of the firm with regard to hiring process of Doyle, David Fletcher put more achievement load on himself, slowed thedecision making process, and disregarded other(prenominal) employees opinions and thoughts on Doyle, and practically created the silo effect.Fletcher explains, I figured that Stephanie would do the health care and environmental stocks as well(p) as the retail stocks while Brian would focus on his specialty, high tech, as he reveals his own thought process without the actual balk from Stephanie. Furthermore, Fletcher admits, hiring Brian wasnt coming from her pocket, it was coming from mine, and demonstrates the contradiction to shared ideas and collected flow of information he so desperately pursued himself. The employees at JFP are meant to communicate and share information with each other fluidly without any excluded members. However, Fletcher contradicted the ideal environment he desired to create by not communicating with Stephanie end-to-end the hiring process of Brian Doyle and thus deteriorated the structure he wanted. Although a desire for autonomy and greater success are contri scarcelying factors in Stephanie wanting to leave the firm, this significant incident has led to her feeling disaffect and secluded from Fletcher and the work they used to do to get toher.Another issue that Fletcher faces, aspect forward, is whether or not to hire Fiske and/or Robinson. As previously mentioned, Fletcher makes the hiring process ineffective and inconsistent. W hen hiring Kindred, Fletcher learned from the conflict that had already risen between Doyle and Whitney, and makes authorized to receive feedback from Whitney and other employees before moving forward with Kindred. Fletcher also maintains an improbably packed schedule and the hiring process is overly crucial and overwhelming for him to do by himself. Moreover, because of his overwhelming schedule, Fletcher cannot possibly to train all the new hires on how evaluate stocks and consider the investment strategy. On a greater scale, throughout JFP there is an extreme lack of root cohesiveness and issues with conflict management. Members of the bon ton compete to achieve the identical goal to become portfolio managers. Members of JFP have a power struggle to achieve their own individual goals consequently, pay hire directly associates with individual accomplishments. The very structure of Wall Street that stick dislikes includes silos with high departmentalization, and members with their own agendas. JFP requires a group cohesion for an effective decision making, yet the firm rewards for self-fulfilling achievements. in that locationfore, presented is a Rewarding A while hoping for Bissue. Also, a clear relationship conflict versus labor conflict is evident. There are personalized and social disagreements that hinder employees to expend effort and resource on discussing vital company assesss and objectives. There are also legion(predicate) interpersonal and organizational conflicts that arise through peripheral transactions within JFP. One simple example includes Stephanies concern about where her desk is located. And yet, there are no company procedures to address and resolve these conflicts in a systematic way. Another example is lack of employees input about new hires. Unrest and social disturbances are within an organization present obstacles for employees to work effectually and to be creative which affects their performance and in turn JFPs success. The final issue to be address is JFPs lack of speciality in work teams and motive on both the individual and group take fixs. More attention can subjoin productivity and motivation consort to the hawe Effect. Fletchers decreased attention toward Stephanie, demonstrated in Doyles hiring process, reduces her motivation and bond certificate to the firm and develops negative feelings about Doyle.Because Doyle and Stephanie have relationship conflicts, they cannot correctly address task, including feedbacks for investment choices, which leads to decreased productivity and creativity within the firm. When Stephanie finds personal fulfillment and interest in her work, intrinsic motivation, Doyles hiring process site diminishes it significantly. Because she is less secure and satisfied, Whitney is less dod, which falls in line with Herzbergs inducing-hygiene theory hygiene factors, including security and working conditions, operate primarily as de-motivators if they are insuffi cient (175). Stephanie also has extrinsic motivationFletchers attention, praise, and counselingwhich increases her intrinsic motivation as well as chew over gaiety and a sense datum of purpose at JFP. Whitneys lower job satisfaction issues in a poor job performance and her attachment to JFP. In order to better achieve the wide, flat structure for efficient and effective decision making, Fletcher should attempt to keep Stephanie Whitney with the firm because she has already gained expertness within the industry, and training and molding another new employee in focalize of Whitney bears immense opportunity cost for the culture and productivity of the firm.Additionally, Whitney has consistently performed at a high level, and the success shes attained transitioning froman administrative aid to a portfolio manager can be leveraged as an effective cock to inspire others to work. Since Whitney has expressed a desire to leave, Fletcher involve to intrinsically and extrinsically mot ivate her to. In order to keep Stephanie motivated at JFP, Fletcher should have Stephanie with a team of her to delve into an industry that she is curious and enthusiastic about, so coarse as that industry has an investment potential for the firm. Since monetary incentives can be sufficiently satisfied with firms other than JFP, Stephanie needs to have the extrinsic motivator of autonomy. This reward for staying would be unprecedented in a firm where more or less decisions come down to David, and would be an indication that she is incredibly valued and ingrained to the organization. Permitting Stephanie to recruit her own team volition also serve to pass the structure of the firm and delegate more tasks.Fletcher also needs to shine up the tie that they have shared in the past, apologize for not creation transparent with her completely, and express respect towards her career development. in spite of the possibility that Whitney will decide to pursue other opportunities, Fletc her needs to convince her to stay because of her credibility and the value lost from the firms perspective. There is an argument to be made that Whitney was at the root of personal issues in the past, only Whitneys conflict was task-oriented, not personal. Her disagreement with many of Doyles investment strategies causes problems when Fletcher failed to address her concerns. In the end, Whitney ends up being right about Doyle, and it is not to be understated that she gets along very well with everyone else in the organization.Building a strong culture is a key for JFP in hiring new employees. Whitney, who already gets along with Robinson, can help to develop the environment in which portfolio managers work creatively and get along on a personal level as well. By treating Whitney as more of a thought cooperator than protege, Fletcher should keep Whitney for the benefit of JFP. As Kindreds case reflect, new hires are more effective in their roles in hiring them. Therefore, the hiri ng process should be structured in a way that all existing employees get to meet the candidate before the decision is made. Organizations small scale will allow such procedure that will result in more effective hiring process. More attention should also be paid to the current employees, not only to ensure new employees transition, but also to deal with the hiring process moreeffectively. Whitneys insistence upon departure can be circumvented entirely had Fletcher heeded her concerns and addressed the issue earlier. JFP should also aim to balance between experienced and new hires, and encourage the experienced portfolio managers to act as mentors.Fletcher cannot possibly serve as a mentor for everyone but forging mentor/mentee roles amongst the portfolio managers will lead to more cohesiveness in the organization, experienced employees leading by example and extend to the flat structure of the organization with reduced risk of employees uneasiness. Fletcher has already taken a mis use in the right direction by seeking the approval of other employees for hiring Robinson, but needs to continue with evaluating Fiske. Moreover, JFP should feel confident about hiring Robinson because the other employees think highly of her and Robinson offers a unique background and valuable expertise. Despite Fiskes experience, his ability to collaborate with his colleagues is the critical point to evaluate in the hiring decision. And thus Fletcher must turn to the rest of JFP for advice. In terms of cohesiveness and people management, JFP should implement work teams to emphasize the outcome is greater than the sum of individuals effort. Also, work groups can be particularly apply in the new research analyst candidates environment because their primary task is to share information.Cohesiveness can be developed by recognize employees as groups, increasing the time that employees miss with each other, stimulating tilt amongst groups, benchmarking JFPs performance to that of a c ompetitor firm, and by increasing the exclusivity. Furthermore, JFP requires regular meetings at which everyone is involved and present to facilitate increasing the time employees spend together and resolving conflicts within the organization. Group successes and failures can be discussed and evaluated. In order to successfully restructure JRP, performance management is essential because it is another method for conflict resolution. Performance management will also lift a continuous flow of feedback so the employee can adjust his or her performance. An increase in employee satisfaction within the workplace will follow. Additionally, the Hawthorn Study states that non-financial incentives are more effective than financial incentives also, attention from leaders has been proven to be 63% effective, praise from managers 67% effective, opportunities to lead projects 62% effective. (P)eople willfeel competent if they obtain feedback that indicates progress in their work or suggests ways that can increase their competence.(176) The delegation of autonomy within JFP can also be addressed because autonomy is tardily assessed and provided to employees if management constantly evaluates employees performance. Lastly, Fletcher needs to address work team productivity and motivation within JFP. As an example, Stephanie demonstrates enjoyment and a sense of fulfillment in her job, and Fletcher needs to develop these motivations further. He also needs to ensure a good team dynamic. Intrinsic motivation is conducive to creativity and result in more unique, productive and creative analysts. harmonize to scientific management, extrinsic motivation is strictly positive until now managers often create undesired behaviors in their employees by utilizing this incorrect statement. (181) Therefore, Fletcher has to bring in critical feedback and attention to his analysts to provide them with some continuing extrinsic motivation.In addition, Fletcher should foster an environment in which analysts develop enjoyment and attachment, that will contribute to intrinsic motivation as well. Hackman and Oldhams model of job enrichment (1976) suggests different ways to increase employee motivation. For example, task identity, task significance, and feedback are a go of them. Developing task identity means to increase an analysts sense of meaningfulness in ones work and growing task significance means to increase the sense of importance of their work. Additionally, ongoing feedback will also contribute positively to the analysts motivation. Fletcher should focus on these methods, as well as an appealing work environment and good group dynamic, to increase his analysts motivation. With these constructive resolutionsfurther consolidating the unique organizational structure, effectively recruiting new employees, critically addressing conflicts and cohesiveness within the group, and appropriately maintaining the balance of motivationJFP is assured to thrive as a differenti ated, outperforming, and attractive financial service firm.