a. Week 1 McKinsey Connecting Employees in IBs

Exercises revealed the existence of unmerged groups

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Unformatted text preview: ocal markets was 4 particularly disheartening; in some, the local product groups barely knew one another. Exercises revealed the existence of “unmerged” groups after a merger: employees who were not connected with many colleagues and were therefore vulnerable to offers from competing institutions, as well as entire subgroups that had much higher attrition rates than initial estimates suggested. EX HI B IT 2 Global delivery of products Most investment-banking management information systems would fail to capture these insights. Hence, the value of mapping techniques that provide a much deeper, more nuanced and explicit understanding of how companies really work on an interpersonal level. When companies undertake such an exercise, the findings sometimes confirm management’s intuition and act as powerful fact-based triggers to bring skeptics on board to help take action. But these exercises can also identify issues that previously lurked below the surface, unknown to management. One institution analyzed the attitudes of different levels of employees, for instance, and discovered fundamental disagreements among the CEO, senior managers, and junior professionals on several key issues, such as the understanding and interpretation of the bank’s strategic direction and the balance between the priorities of divisions and business units, on the one hand, and of groups within them, on the other. 5 Keeping the focus Addressing such issues to bridge silos requires a systematic approach. Banks should focus on a handful of initiatives they can monitor closely at a senior level. These initiatives fall into three categories: the top team’s alignment, organization-wide initiatives, and cross-cutting themes. Efforts to align the top team should cover whatever is really important and at risk. Forcing reluctant star traders to participate in organization-wide networks, for instance, can destroy enormous value if it dents the traders’ morale. Some senior teams align naturally around such principles; others require a facilitator to reconcile any differences. Organization-wide initiatives include efforts to change mind-sets and build capabilities (through metrics, behavior, and role modeling), people initiatives (incentiv...
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