Memo of Transmittal

Censored Bank
September 10, 2013 TO: TIMOTHY BOSS CEO 5555 UNKNOWN STREET UNKNOWN, LC 95677 FROM: ANNASTASIA CLARKE CONSULTANT

RE: Proposal for Cross-Training Program Dear Mr. Boss: Per your request I have spent the last several weeks observing Censored Bank. I have created a recommendation for the improvement of Censored Banks training structure. The included documents are the result of my research into Censored Banks organizational culture and possible improvements therein. I have proposed a cross-training program to improve Censored Banks internal growth and retention of staff. The report will show my research, findings, and suggest possible means of implementing the program. The report will also explain how I envision the impact of the program. I have interviewed a sample of staff members for their input and to ensure there is interest in participation. I suggest this report be reviewed by the board at the upcoming board meeting scheduled for October 1 , 2013. Please feel free to contact me to discuss your questions, comments and concerns about the proposal. Email: annastasia.clarke@Censoredbank.com Phone: 801-545-6727
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Cross-Training Program
Recommendation Report 09/17/2013

Annastasia Clarke, Consultant Salt Lake Community College Technical Writing T: 801-599-0073 DD: 801-545-6727 E: annastasia.clarke@Censoredbank.com

CONTENTS
Memo of Transmittal Title Page Abstract Introduction Research Plan Result of Study
Censored Banks Mission Statement Interviews Interviewees Concerns Cross-Training Success in Other Organizations

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Recommendation Conclusion Works Cited

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Abstract
The purpose of this report is to examine the continued training programs that are in place at Censored Bank, expose possible limitations to the current structure and suggest feasable improvements. Beginning a cross-training program is my recommendation for Censored Bank. I have conducted serveral employee interviews and collected valuable feedback from the management team. With the information I have assembled, I have created a program that accomodates Censored Banks unique needs. Censored Bank is a very employee-focused organization. My recommendation of expanding employee benefits to include a more diversified training program will take employee statisfaction to the next level. The organization will reap the rewards of having an elite staff comprised of employees who have a well-rounded knowledge of Censored Banks processes.

Introduction
Censored Bank was founded in 1997 as an issuer of credit cards focused on the non-prime market. In 2005 Censored Bank expanded their program to include recreational loans for recreational vehicles, boats and motorcycles. Per Censored Banks Mission Statement, the organization is committed to creating a work environment that enables (our) associates to fulfill their potential. Censored Bank already has a high employee retention rate and a correspondingly low turnover rate. Even with a successful, employee friendly and benefit-rich environment, Censored Bank continues to look to the future for growth. Keeping with Censored Banks history and values, I have made a plan which will empower the employees to reach even higher potential. The program suggested in this report describes how employees will be able to gain knowledge by training in other disciplines throughout the bankto which they otherwise would not be exposed. Cross-training in other areas of the bank will allow employees to gain the skills needed to move up in the company. Crosstrained individuals will be able to assist with the work load in case of a colleagues absence. Additiona lly, employee crosstraining may offer insight and/or recommendations to the trainer to improve efficiency.

Research Plan
In order to create an informed plan of action to improve the continued training structure in place at Censored Bank, I formed a research plan. The research allowed me to gather the data necessary to make a suggestion to fulfill Censored Banks needs.The following is the research plan used to gather information: Review the Companys Mission Statement and Values Purpose: to gain perspective on the companys outlook and values. This information enabled me to envision where the company would like to improve.

Interview Colleagues Interviewing employees from a variety of departments including credit, human resources, risk analysis, remarketing and programming provided me with a diverse sampling of perspectives on the bank. I will verify the interest level employees would have in utilizing my proposed crosstraining program.

Below is the list of questions I e-mailed to the individuals who participated in my interviews.

1. 2. 3. 4. 5. 6.

How would you describe the culture at Censored Bank? Censored Bank seems to have a good employee retention rate. In other words, employees tend to stick around. Why do you think that is? What makes our organizational culture unique? Do you feel the cross-training program outlined above would be beneficial? Would you utilize such a program? What potential problems do you see with the program?

Verify how similar programs have worked out for other organizations By understanding the impact similar programs have had on other organizations, I can more accurately predict the impact it will have on Censored Bank.

Result of Study
Censored Banks Mission Statement
I chose to start by investigating the mission statement in place at Censored Bank. I wanted to understand the values and overall goals of this corporation. The mission statement can be found at http://www.Censoredbank.com, but for your convenience I have provided the information below. Our Mission at Censored Bank is to make a positive difference in the lives of our customers, our employees and our community. Along with a company-wide commitment to honesty, dependability and innovation, we are dedicated to providing solution-based products and services that are designed to create a value proposition for our customers. To this end, we are committed to: offering our customers fairly priced solution-based products increasing our customers' long-term financial stability treating our customer and partner relationships with respect rewarding successful customer credit management contributing time and resources to improving our community creating a work environment that enables our associates to fulfill their potential

My focus is specifically on the last bullet point: Creating a work environment that enables our associates to fulfill their potential. Cross-training would help Censored Bank reach this goal by accomplishing the following: Employees learn skills they would not normally be exposed to without attending college or obtaining a new position. o This program would be complementary to the existing tuition reimbursement program in place at Censored Bank. It would enable employees to get some of the education they are seeking while still on the clock.
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Well-rounded understanding of the banks processes and procedures. Ability to shift the workload when associates are absent without hiring additional workforce for each department. Engage employees to avoid boredom through repetition of the same duties, cross-training keeps the employees growing and learning. New Perspective Not only will the trainee benefit; so will the trainer. As a result of cross-training, the trainee may have suggestions for improvement in the trainers department. For example: If a computer programmer were to train in funding, he/she may be able to create tools that would streamline the workload for the funding department. Potential for promotions from within would increase Cross-trained employees would possess a diverse set of skills that may give them more advancement opportunities within the bank. Hiring from within is a benefit for the bank overall because the experience of the individual is retained. Hiring outside of the company does not possess the same depth of knowledge.

Interviews
Through the interview process I found employees are happy at Censored Bank. Some of the reasons given include: fair compensation, health benefits, paid time off, laid-back atmosphere and a casual dress code. Brittney in Human Resources described the other benefits the bank employees are encouraged to take advantage of: It s the small stuff that really counts. Halloween party where employees can bring their kids in for trick or treating Pictures with Santa Employees can bring their family, even their dog!

Leaving early on the Friday preceding a holiday weekend Annual Christmas party employees are able to bring a guest

Annual BBQ

Each of these small things positively impacts the atmosphere within the bank, and creates a stronger work community through social activities.

Interviewees Concerns
After describing my plan for a cross-training program, employees were excited about the possible opportunity. I specifically asked what potential concerns they might have about such a program. Debbie, the Vice President of Credit, stated, I like the idea. I think the program would be best utilized within each individual department. Someone in underwriting could train in titling, but it wouldnt make sense for them to train in I.T. This same concern was mirrored by Brittney in Human Resources. When I asked Brittney if she would take advantage of this program she said, Since I am already trained in all functions of the H.R. Department I wouldnt be interested in taking advantage of this program in an unrelated area. Other concerns consisted of the possibility of employees trying to pass their workload on to cross-trained individuals without having a legitimate need. Additionally, the time of the trainee and trainer being torn from their regular duties is a cost to the bank. One individual expressed her worry that employees would feel pressured to cross-train before they have even mastered their own duties.

Cross-Training Success in Other Organizations

Cross-training has been utilized by other organizations. I sought out information about successful cross-training programs within a business. The article I found was in regards to an organization by the name of Hopkins Printing. The CEO, James Hopkins, instigated a deep crosstraining program where approximately 95 percent of the employees have cross trained in at least one discipline on top of their own. Many employees are trained in up to three different roles. The article boasts that the result of cross-training is an increase in revenue by more than $10,000.00 annually per employee. http://www.inc.com/winning-workplaces/magazine/201106/survival-of-the-smartest.html

Mission Statement shows Merrick Bank places high value on employees. Interviews showed employees are already happy, but would enjoy gaining skills from cross-training. Other organizations with crosstraining programs have already benefited greatly as a result.

Recommendation
For Censored Bank to reach its goal as indicated in their mission statement, creating a work environment that enables our associates to fulfill their potential, I suggest starting a cross-training program where employees are encouraged, but not obligated, to participate. I suggest that cross-training be set up in quarterly terms. Employees would be able to apply for the program quarterly. Employees on probation, or who have not mastered their own job functions, would not qualify for enrollment. The qualified employee would submit an enrollment form to his or her direct supervisor. This form would include the position or area in which the employee would like to be cross-trained. Once the employees direct supervisor has approved the application, it would be forwarded to the department supervisor of the perspective trainer. The trainers supervisor would also consider the application for approval. Either of the supervisors would have the ability to deny the request dependent on the current work-load. After the fiscal quarter begins, then the training would start. The training sessions would take place once a week for one or two hours, depending on the time allotted by the supervisors at the time of enrollment. At the end of the quarter the employee may submit for a continuation of training if he or she has not been able to obtain all the skills and understanding anticipated. I suggest the program is limited to a relevant area of expertise, at least for the time being. For example, Recreation Lending employees may only cross-train in the Recreation Lending sub-departments of the bank. This limitation should be in place for the next calendar year. Subsequently, enrollment to cross-train in unrelated areas of the bank will be offered to employees who have already mastered their positions, completed cross-training in all areas of their department and have been employed with the bank for five years or more.

Conclusion
In summary, Censored Bank has clear goals in regards to maintaining an excellent work environment that encourages employees to not only succeed, but to excel. Offering employees an opportunity to gain skills, expertise, on the job experience and an overall appreciation for the banks processes will usher the organization into the next generation. Employers must keep a competitive edge in order to retain good personnel. This program encourages employees to become self-starters with a hunger for knowledge. Thank you for your continued concern for the happiness and well-being of Censored Banks employees. Censored Banks unique atmosphere is refreshing and delightful. Investing in employees and their future is an investment in the bank and its overall success.

Please contact me with any questions or comments. I look forward to continuing this discussion with you at the board meeting on October 1st.

Works Cited
Photos from: http://www.freeenterprise.com/cross-training-proves-beneficial http://www.skipprichard.com/make-work-happy/i-love-my-job/ http://jjlnconsulting.com/questions-jjln-has-for-you/ Cross-training article from: http://www.inc.com/winning-workplaces/magazine/201106/survival-of-the-smartest.html