PERFORMANCE
MANAGEMENT AND
REWARD SYSTEM AT
SCOTTRADE Inc.
NAME OF GROUP MEMBER
FAIZUR JESWINDER
RAHMAN KAUR
KALYANI BARUN SINGH
ALHAM JAIDI MOHIT SINGH
ROLL NO:- ROLL NO:-10,07.03
05.15.05
Introduction
This case study about scottrade Inc.
performance mgt. and reward system.
The PMS was top-down approach.
Scottrade, since its inception, differentiated
itself with low commissions and efficient
customer service. it had become a special place
to work and operated like one big family with
no history of layoffs.
Scottrade, since its inception, differentiated itself
with low commissions and efficient customer
service. it had become a special place to work and
operated like one big family with no history of
layoffs.
The top mgt. make the strategic and five year plan.
But every department they get together in a year
once and takes about what their goal and what
their goal will be to help us meet those objectives.
It is on US based online brokage firm
In mid 2010 the firm felt that it had made a
mark for itself in brokerage and it planned to
extend its operations into banking.
BACKGROUND
. The co. founded by Rodger O Riney as
Scottsdale securities in 1980.
Riney graduate in civil engineering in 1968
and subsequently did an MBA in 1969 both
from the university of Missouri Columbia.
Riney was a the firm ‘s first manager trainees
with Edward Jones.
Riney start or progressed in his career and was
made a general partner in 1975.
Within two year firm grow and re located from
Arizona to St Louis Missouri Scottsdale.
In 1996 it became first firm to offer online
trading on its website .
The firm name changed in 2000 Scottsdale to
Scottrade reflect to firm focus on online
trading.
Firm had 450 branches and 3200 employees.
Main competitor are E-trade, TD
Amcritrade ,Research LLC.
A GREAT PLACE TO WORKE
It was fact Co had not resorted to layoff in its
History.
Job security is not for your pocket but it also for
your peace of mind.
The employee had to work as part of lean team.
Employees had flexibility in their works.
A branch on average thee to five employees
consisting of a licensed branch manager broker and
others assistants
PERFORMANCE MANAGEMENT $
TRAINING AND DEVLOPMENT
The performance process at Scottrade began at the
top of the organization.
The strategy set co. for five year period but goal set
yearly basic to reach that strategy.
Each individual decided on the goal he/she should set
in order to enable his/her department to reach the
desired goal.
The PMS service provide through NICE smart center.
It have quarterly reviews for its employees
First 18 years of operation the co. have did not
have a training department.
In 1990 co. set its training department.
The new staff goes under a week long on
boarding session exposed new employees to
learn organization culture.
Learning process continued over a long period
of time.
It have variety of learning media classroom-
online training etc.
REWARDS AND RECOGNITION
PROGRAM
In additionally providing a competitive
compensation packaging and quarterly bonus
program that was review process of
employees.
Reward programs like:-
Compensation,Medical,Dentail,Vision,401(k),
Disablity,Tution,Charitable giving Program.
RESULTS
Scottrade to deliver a high level of customer
satisfaction .
In 2009 when market turmoil the co. hired more than
1000 associates and opened 58 new branches. this
was a time for co. to layoff but they did not.
Its HR practice and training and development
initiatives were recognized by experts.
The firm was also awarded by the Incentive
Marketing Association for length to which it went to
recognize employees
In 2010 its ranked 27th among fortune magazines
“100 best co. to work for”.
The firm placed on the Fortune 100 Best
Companies To Work During the period 2008-
10.
THANK YOU
