This is my second post to Citigroup and I will keep shouting from the rooftops until we see real changes, positive growth, real ROI for shareholders or until the world ends; whichever comes first. Old habits die hard so unless someone steps up with NEW habits and business practice well…just look at the last five or six years. I agree with the early comments of this latest CEO; you are what you measure, so let’s measure already! I think it’s time we take the bull by the horns and turn this company around and I can help; just give me the damn ball.
I don’t want to run Citigroup. I want to see Citigroup run better!
My offer is executive communications coach, chief of staff, change agent and/or delivery expeditor. Call it whatever you want but I will create an immediate sense of urgency within the Citigroup executive leadership team, and I’ll be in and out in six months. My promise is to deliver results but not at the expense of others and to always be positive and inspiring in the process.
I have a plan for Citigroup that will rebuild trust, improve morale, save a ton of money and reinvest back into the existing workforce. I have the experience, lessons learned, tools and most important the motive that ensures my plan will be successful.
The Motive? Well, this is what’s been missing. This void is why these old habits die hard; the wrong common motive being cascaded down from senior leadership.
Whatever the motive has been, it needs to change. I can simplify it; the motive MUST be care or as I call it C.A.R.E.
C.A.R.E. is my award winning acronym for Courage to take Action Relevant to Everyone. That’s my shared leadership model learned from five (now virtual) mentors that actually helped raise a nation with this common motive; care.
Now I’m not looking to raise a new nation, I’m perfectly honored to be a part of the one we have right now. However, if care can raise a nation, imagine what it can do for an organization like Citigroup!
100 days. I have the plan, the credentials and the courage to do this. I also have the way to fund it!
Today is Monday February 16th. As early as Tuesday February 17th, I can be sharing my 100 day plan on a projector. We can start implementing as early as tomorrow, which is exactly what I said last month in my first call to action. We could’ve been 30 days deep into the plan and 30 days closer to implementing some serious change at Citigroup and some serious ROI for the shareholders (like me).
That initial post was late January. There were some interesting comments as a result, mostly sarcastic measuring from the “choir” which only results in predictable ambivalence; a diversion the senior executives really don’t mind (but I do!). The one comment I received that I want to mention is “it’s Obama’s fault” the fines and penalties charged to Citigroup as recent as fourth quarter 2014 is nothing more than the government trying take and take and take from Citi. Is this true? Do you guy’s blame Obama for the fourth quarter 2+ billion dollars in penalties you agreed to pay?
Regardless, we’re halfway through the first quarter. In my first post I listed my top 10 things I would do starting on day one. There was a lot said in that first post so please revisit. This post is much shorter with easier to read deliverables. So let’s cut to the chase!
If I had the ball, if I had input to some of the Citigroup executive decision making, I would immediately start preparing what the FTE’s and shareholders of this company need to hear as we approach the end of the first quarter. We have a month and a half remaining in the quarter, so lets’ get busy!
1. We need to explain (again) what exactly a Notional is? I say we so someone needs to first explain it to me in a way I can understand. Then we can proceed and explain it to everyone else two ways; in a brief and simple voice and then also in writing to make it official.
2. If the Citigroup top of the house executives believe the 2+ billion in penalties they agreed to pay (to the government) has nothing to do with their current business practices; then please enlighten us? Then explain why you didn’t enlighten us when the penalties were originally assessed or when you agreed to pay them.
3. We need (and I will create) a war room; a command center; a transparent 7X24 visual of all of the specific issues problems and concerns currently being addressed by the Citigroup executive leaders. This facility needs to be accessible at all times by Citi/FTE’s. If you’re a vendor, contractor or anyone outside the company; partner or not…get the information from this room through a Citigroup employee. Yes I believe in shared leadership but I draw the line when vendors receive too much information about what’s going on in this company. Let’s reverse it and look under the rug of some of the international offshore IT/software vendors Citi has been doing business with and see how far we get.
4. The 7X24 command center; I would start populating this command center with some high level pie charts (some visuals ala Ross Perot back in the 90’s) that will be explained and presented at the end of the first quarter. These will be posted on the walls of the command center, for all to see; 7×24:
a. What percentage of Citi revenue is real vs. low risk Notionals. Then we need that explained!
b. I would like to see the Notional percentages from fourth quarter 2014 (when the 2+ billion in penalties was assessed) compared to first quarter 2015 to see the progress; then we need that explained!
c. What percentage (as of right now) of IT/development is FTE driven vs. contractor driven; then we need that explained!
d. I would like to see a pie chart showing all the IT/development vendors and the percentage of Citi software development that each are currently involved in as of right now; then we need that explained!
e. I would like to see (somehow) what percentage of IT/Vendor contractors on boarded in the first quarter 2015 vs. fourth quarter 2014 are for new development vs. IT/vendor contractor replacement turnover; then we need that explained!
f. This one is painful but if we’re being transparent then…. I’d like to see an executive bonus pool comparison from 2013 to 2014; then we need that explained! I for one would like to know how much a 4th quarter 2+ billion dollar penalty cost in executive bonus reduction?
OK that’s high level and simple enough to show what the company is doing.
Lets’ start here, let’s start being transparent, let’s start building trust and then let’s start showing some decision making progress via the pie charts.
I understand that and will work on a short leash. Now either give me the damn ball today or talk me down and come up with an immediate plan of your own (hopefully) before the world ends.
Corporate talk w/Charlie and Eva