July 12, 2008

Citigroup – Establishing Team Culture

Filed under: Latest Trends in HR, Team Culture — Tags: , — hrcases @ 10:09 pm

Vikram Pandit, the CEO of Citigroup, took over the company in December. Since then, the New York-based financial services company has posted $15 billion in losses and announced plans to eliminate 9,000 jobs.

The CEO has been laying a lot of emphasis on a culture based on teamwork. He has announced for a new regional structure, which allows for de-centralization. Now, the regional CEOs can make independent decisions for their businesses.

Experts are of the opinion that establishing a culture around teamwork will mean a lot of communication and revamping of HR processes.

Establishing a more collaborative culture would help Citigroup, given the fact it has 370,000 employees around the world. But this would require getting the trust and buy-in of employees as a lot of them are concerned about job security and are only focused on their individual performance.

According to experts, the biggest challenge though would be to find an objective way to assess employees’ performance in this kind of scenario.



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