David Fletcher Case Essay Example for Free

David Fletcher Case EssayJenkins, Fletcher Partners (JFP) has the potential to thrive and succeed in the financial good labor with stimulated, productive, and satisfied employees. However, there are small and large issues to be intercommunicate in found to select that in presention. In this specific case analysis, we analyze the issues hindering JFP from notwithstanding conk outment, and suggest respective and admit suggestions to resolve those problems. First, a thorough evaluation of JFP shed light on a number of issues The discrepancy with JFPs secernate and key organisational complex body part wide, unwavering, informal coordinate for quick determinations. Struggles for autonomy inwardly the company and the pending finality to hire a naked as a jaybird seek analyst. Anti- tat and lack of appropriate military personnel resource forethought. Low team productiveness and insufficient and inaccurate incentives indoors the diddle teams Although these issues pr esent obstacles for further growth and potential of the sign of the zodiac, JFP is able to resolve these issues and consequently differentiate itself from its competitors in the perseverance with the following suggested resolutions hike emphasize the informal and quick information sharing in between all the employees. Convince Stephanie to persist in with the unwavering with a larger responsibility to enhance the expression under the as affectionption that her requirements are met.rent 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 contributory learning environs. Implement timed and functional meetings at which every employee has an input. Develop operation management instead of functioning reviews. Maintain the organisational counterpoiseructures through work team productivity and implementation of appropriate incentivizing system. With these critical resolutions, JFP allow become the unique, successful, and differentiated financial service firm that the founders originally dreamed of. One of the points of differentiation that JFP has from other financial service firms on Wall Street is its unique structure of small, flat, and wide for strong and efficient communication and last making cultivate. But Fletcher made a mistake to contradict that very principle of JFP. By not communicating with Stephanie and other salient members of the firm with regard to hiring process of Doyle, David Fletcher put more(prenominal) workload on himself, slowed thedecision making process, and disregarded other employees opinions and thoughts on Doyle, and practically created the silo effect.Fletcher explains, I figured that Stephanie would do the wellness care and environsal stocks as well as the retail stocks while Brian would focus on his specialty, high technology, as he reveals his own thought process without th e actual confirmation from Stephanie. Furthermore, Fletcher admits, hiring Brian wasnt plan of attack from her pocket, it was coming from mine, and demonstrates the contradiction to shared ideas and smooth flow of information he so desperately chased 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 throughout the hiring process of Brian Doyle and thus deteriorated the structure he wanted. Although a desire for autonomy and greater success are contri scarceing factors in Stephanie lacking(p) to leave the firm, this signifi slewt incident has led to her feeling alienated and secluded from Fletcher and the work they used to do together.Another issue that Fletcher faces, looking forward, is whether or not to hire Fiske and/or Robinson. As previously mentioned, Fletcher makes the hiring process in effective and inconsistent. When hiring Kindred, Fletcher learned from the conflict that had already risen between Doyle and Whitney, and makes sure to receive feedback from Whitney and other employees forwards moving forward with Kindred. Fletcher in like manner maintains an fabulously packed schedule and the hiring process is overly crucial and over spot for him to do by himself. Moreover, because of his overwhelming schedule, Fletcher cannot possibly to train all the youthful hires on how evaluate stocks and pack the investment strategy. On a greater scale, throughout JFP there is an extreme lack of group cohesiveness and issues with conflict management. Members of the company 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 compensation directly associates with individual accomplishments. The very structure of Wall Street that Lodge dislikes includes silos with h igh 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.Therefore, presented is a Rewarding A while hoping for Bissue. Also, a clear alliance conflict versus task conflict is evident. There are personal and social disagreements that hinder employees to expend motility and resource on discussing vital company tasks and objectives. There are also many interpersonal and organizational conflicts that arise through peripheral transactions within JFP. One simple example includes Stephanies touch about where her desk is located. And yet, there are no company procedures to address and resolve these conflicts in a opinionated 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 efficiently and to be creative which affects their performance and in turn JFPs su ccess. The final issue to be address is JFPs lack of effectiveness in work teams and pauperism on both the individual and group levels. More aid can increase productivity and motivation according to the Hawthorne Effect. Fletchers decreased attention toward Stephanie, demonstrated in Doyles hiring process, reduces her motivation and attachment to the firm and develops negative feelings about Doyle.Because Doyle and Stephanie have relationship conflicts, they cannot properly address task, including feedbacks for investment choices, which belongs to decreased productivity and creativeness within the firm. When Stephanie finds personal fulfillment and interest in her work, intrinsic motivation, Doyles hiring process situation diminishes it significantly. Because she is slight secure and satisfied, Whitney is less displaced, which falls in line with Herzbergs motivator-hygiene theory hygiene factors, including security and working conditions, operate primarily as de-motivators i f they are insufficient (175). Stephanie also has adventitious motivationFletchers attention, praise, and focal pointwhich increases her intrinsic motivation as well as job satisfaction and a sense of designing at JFP. Whitneys lower job satisfaction results 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 expertise within the industry, and training and molding another new employee in place 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 assistant to a portfolio manager can be leveraged as an effective tool to inspire others to work. Since Whitney has expressed a desire to leave, Fletcher needs to intrinsically and extr insically motivate 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 long 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 most decisions come down to David, and would be an indication that she is incredibly valued and essential to the organization. Permitting Stephanie to recruit her own team go out also serve to widen the structure of the firm and delegate more tasks.Fletcher also needs to highlight the tie that they have shared in the past, apologize for not being transparent with her completely, and express respect towards her career development. Despite the possibility that Whitney pass on decide to pursue other opportunities, Fletcher nee ds 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, but 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 righteousness 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 colleague 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 hiring process should be structured in a way that all alive employees get to meet the candidate before the decision is made. Organizations small scale leave 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 leaving can be circumvented entirely had Fletcher heeded her concerns and communicate 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 contribute to the flat structure of the organization with reduced risk of employees uneasiness. Fletcher has already taken a ste p 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 surefooted 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 utilized in the new research analyst candidates environment because their primary task is to share information.Cohesiveness can be developed by rewarding employees as groups, change magnitude the time that employees spend with each other, stimulating competition amongst groups, benchmarking JFPs performance to that of a competitor 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 bring 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 easily 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. According to scientific management, extrinsic motivation is strictly positive however managers often create undesired behaviors in their employees by utilizing this unreasonable statement. (181) Therefore, Fletcher has to give critical feedback and attention to his analysts to provide them with some continuing extrinsic motivation.In addition, Fletcher should foster an envir onment in which analysts develop enjoyment and attachment, that will contribute to intrinsic motivation as well. Hackman and Oldhams exemplification of job enrichment (1976) suggests different ways to increase employee motivation. For example, task identity, task significance, and feedback are a number of them. create 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 th rive as a differentiated, outperforming, and attractive financial service firm.