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Measuring Right: Understanding Goodhart’s Law

QAspire

If you don’t frame your metrics right, they can distort behaviors. A bank executive once insisted that I do him a favor by getting a free credit card (even when I did not require it). In an organizational context, how do we manage this? Over to you: How would you manage metrics so that they enable right behaviors?

Metrics 122
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Championing Diversity and Inclusion at Bank of America

HR Digest

When our employees have the tools and resources to manage their life and their career, they are able to better deliver for our clients. We have an experienced team of case managers that help connect employees to the right resources and benefits and make these transitions easier to manage. What do employees really value?

Banking 78
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Wall Street banks opt for greater automation for grunt work to retain talent

HR Digest

Banks now insist on weekend offs, no excessive overtime, and greater use of technology for routine work. Wall Street banks are trying to automate as much grunt work as possible to save the younger bankers from feeling overwhelmed. Headcount in the banking industry is likely to get reduced, aided by technology.

Banking 95
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Leading by Cause

Lead Change Blog

A recent conversation with a community bank CEO focused on his vision for the company. Logic tells us we can manage cause, but only measure effect. Shifting to cause-based analysis of results positions leaders to laser-target interventions – coaching, guiding, managing or taking direct action – to change the trajectory of outcomes.

P&L 220
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The Optimist’s Telescope: Thinking Ahead in a Reckless Age

Leading Blog

At a Stanford Director’s College in 2016, Roger Dunbar, chair of the Silicon Valley Bank, told Venkataraman that “when he hears company executives or board members responding to short-term noise with outsize reactions, he likes to pretend he is lost. It helps too to look past typical metrics to see what is actually happening long-term.

Long-term 222
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3 Common Mistakes That Prevent Leaders from Building Trust

Lead Change Blog

It reminds me of the old project management adage: people don’t plan to fail; they just fail to plan. I’ve seen hundreds of representations of trust: wedding rings, a cross, a child holding a parent’s hand, a bank vault, and people shaking hands, just to name a few of the common ones.

Planning 264
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CMI Highlights – 9 August

Chartered Management Institute

At CMI, we disagree: we believe that better equipped managers means better performing public services. According to CMI’s recent research in collaboration with the Social Market Foundation , more than one in four NHS managers said senior leadership in their healthcare organisations was “ineffective”. Read the full story here.