Marshall & Gordon

HUMAN RESOURCE MANAGEMENT Assignment 2 Marshall & Gordon Designing an Effective payment System Situational Analysis Paul Nasr is the president of Morgan Stanley (MG) who has nearly 20 years of experience in the majuscule markets transmission line. He assumed the leadership of the recently created Capital Markets Services region. The Capital Markets division is an interdisciplinary entity created to practice as a link between the investment funds Banking division and the sales and trading arms of the firm, uprightness and Fixed Income.The division is created to provide the clients with more focused attention and service. The employees in this division were too judge to generate business from organizations that were not previously clients of Morgan Stanley. Nasr hired government minister who is a successful, young banker and has a proven track record in the financial sector. He believed Parson is the right person in maturement the capital market services arm of the firm. Pa rson had ten years of experience and ownes strong relationships in the banking and insurance industries.He didnt have the Ivy League background that other employees in Morgan Stanley had had but he has the required experience working in bank and investment houses. He quickly rose up the ranks to become the Managing Director of a small firm. He is assigned the title of Principal and is expected to feed in analytical solutions to complex problems, have good client relations, understand the clients objectives and constraints and identify and create business opportunities for MG. He should possess excellent negotiation skills and also be a team supervisor and leader of the Investment Banking Department. 60O FEEDBACK PROCESS This process is a feedback solicited from superiors, peers, subordinates and internal clients as well as self-importance-evaluation of an employee to gauge his/her performance. The inputs from this feedback helps in intelligence and quantifying an employees strengt h, his/her deficiencies as well as gives cues for required developmental trainings and appraisal/promotion. This process minimizes the perceptional evaluation from a single source and gives a sense of ownership and fair judgment to ones self perception.During the performance evaluation before his supposed promotion to the managing director or partner of the firm, Parson is attribute for his good marketing skills, experience of the market and product, aggressiveness in making the deals with clients, his ability to cross-sell products to the clients. But he also got some very negative comments for being judgmental, not being a team player, not being professional at cartridge holders. Nasr, though, defended that Parson is still young in MG and needed time to align himself with the firms values. Problem DefinitionNasr is staring down the barrel on whether to promote Parson as a Managing Director/Partner of the firm or give him more time. He also did not want to lose Parson who might leave the firm if he did not nab the promotion. Options Nasr has three ways of coming out of this quagmire a. Promote Parson and assume that he pull up stakes get better with time. b. Hold his promotion till the next evaluation and give him a chance to overcome his shortcomings. c. Terminate his employment because his work doesnt align with the firms core values. rating CriteriaThe following criteria should be used to evaluate the options available to make a fair decision a. The employee should be result-oriented b. He should have good interpersonal skills c. He should bring new business to the firm d. He should be able to win the confidence of the clients e. He should possess both the market and product knowledge f. Understand the needs of the clients and utilize his market knowledge to work with the product specialists in providing a new product g. He should be a good team player h. He must possess good analytical skills to solve complex issues. Evaluation of Options a. ) Prom ote Parson addict Parson is an excellent employee who has turned slightly the Capital Markets Services division in Morgan Stanley in an unconventional way and brought in new business through his aggressive marketing skills. He is instrumental in improving the market share from tenth position to 3rd position, during which the market share rose from 2% to a substantial 12. 2%. Since the division is new, he had to adopt these methods to win the clients trust. He introduced clients to his colleagues and also is able to cross-sell products. He might not everlastingly be social minded(p) his responsibilities but he is not antagonistic towards anyone.Moreover, Parson acknowledges that he is unretentive at self-promotion and is not in sync with the organizations goals. b. ) Hold his promotion Nasr is in a position of responsibility and authority. If he chose to promote Robert Parson just on the basis of results, it would create a wrong precedent to other employees that they can electric al shunt the Morgan Stanley glossiness and still get promoted. In addition, Rob Parson is personally recruited by Nasr and, giving a promotion to Parson despite the interpersonal issues indicates adaption of unsportsmanlike practices in the performance evaluation.Also, the newly implemented 360-degree feedback stresses on culture of the firm rather than goal orientation. In this case, Parson is more goal-oriented than organization-oriented. So, his promotion being put on hold could be a operable option at this juncture. c. ) Terminate his employment Parson came from a background where he ought to be more result-oriented than being a cultural-fit in pursuing his goals. By adapting this strategy, he had created an internal notion that employees can bypass the core values of an organization to achieve ones goals.This could undermine the very working culture of the firm and would lead to internal conflicts within the employees. So, his employment could be terminated to maintain the stability within the organization. Recommendation It can be concluded that he is a valuable asset to the firm given his contributions and should be promoted to the Managing Director position. He could undergo trainings on team building and interpersonal skills to further reform himself. The 360-degree performance evaluation can be used to give feedback to Parson on both his strengths and areas where advantage is needed.