MBA 713 Hinson Assignment 4-3

MBA 713 Hinson Assignment 4-3 - Date: January 27, 2010 To:...

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January 27, 2010 To: Carol J. Pitman, MAOM, SPHR From: Jamie N. Hinson, BS RE: Advantage Bank’s Reward and Recognition Program Advantage Bank, an eight hundred million dollar community bank known for its savings and mortgage loan products, has its main headquarters located in a small town known as Cambridge, Ohio. There are approximately twenty-eight banking offices and two hundred and ninety-two employees performing various operations throughout the Bank. Over the past five years, Advantage Bank has experienced many challenges and has been faced with many hardships. During the time that the stock market crashed in the year 2008, Advantage Bank also suffered a serious hardship. While credit quality issues and bad debt expense continued to increase, the Bank began a merger/acquisition process with First Place Bank, (First, 2009). Although First Place Bank is slightly larger and in a better organizational position than Advantage Bank, the merger/acquisition was terminated due to the economic downfalls that were occurring across the United States during that time. First Place Bank realized that even though they were considered a solid organization, they were afraid to take on any further challenges during the negative impact that many financial institutions were experiencing due to the economy. After the termination of the merger/acquisition, Advantage Bank was left to pick up the pieces and try to suffice the positive reputation that the Bank once had. Not only was the Bank experiencing reputational issues, the entire morale of the Bank drastically decreased during this time. Approximately ten percent of the employees either left the Bank for another job elsewhere, or their position was terminated due to gearing up for the merger/acquisition with First Place Bank. Every department was short-handed and was struggling to keep up with the daily duties and responsibilities. Since the complications from the termination of the merger/acquisition, the Federal Deposit Insurance Corporation, also known as the FDIC, has created many regulations for banks in this type of financial state, (FDIC, 2010). Advantage Bank has undergone many changes including hiring new Senior Management, new Board of Director members, and many new employees to fulfill the positions and perform the job duties for those departments that were extremely short- handed. One way that the Human Resource Department of Advantage Bank has found to be a positive outlook on employees is a service award presented to such employees every five years since the employee’s date of hire. This has become a very popular service award ceremony which takes place at Cambridge’s Country Club Golf Course, which is located near Advantage Bank’s headquarters. The employee who has worked at Advantage Bank for the longest amount of time has hit the service record of thirty-four years. That many years of service is definitely
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This note was uploaded on 10/24/2010 for the course MBA 713 taught by Professor Whitmer during the Spring '10 term at Otterbein University .

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MBA 713 Hinson Assignment 4-3 - Date: January 27, 2010 To:...

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