JP Morgan Chase 2003 Annual Report Download - page 18
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results:
building a high-performance culture
Building a client-focused, leadership-driven ethos demands constant self-evaluation, self-reinforcement and
fresh thinking. Toward that end, the firm has initiated several programs that aim to drive best-of-breed execution
and disciplined business improvement. When it comes to improving our business – and our approach to doing
it – our job is never complete.t comes to improving our business – and our approach to doing it – our job is
never complete. Productivity & Quality/Six Sigma
Using disciplined methodologies such as Six Sigma, our employees streamlined key business
processes and increased savings in 2003. From transforming the client credit review process,
which improved risk management and profitability in the Investment Bank, to improving
the process of identifying potential customers for credit card offers, the firm’s broad-ranging
productivity and quality efforts yielded more than $1 billion in net financial benefits – more
than doubling the benefits achieved the previous year.
LeadershipM organChase
Two years ago, the firm implemented LeadershipMorganChase (LMC) to help develop a
stronger corporate culture and further develop the firm’s leaders through a focus on values,
partnership, communication and performance. More than 60,000 employees worldwide,
from all five lines of business, have participated.
One outgrowth of LMC in 2003 was the Knowledge Broker Network, an internal network of
more than 80 individuals across the firm that makes it simpler to determine whom to call
to better serve customers and generate incremental revenue. These efforts have led to stronger
client relationships and successful execution of revenue-generating activities.
JPMorgan Chase Poll
Annually, JPMorgan Chase polls its employees to assess their understanding of the firm’s
strategy; commitment to the firm; partnership with colleagues; and perceptions of the firm’s
efforts in diversity, work-life balance and leadership.
Some 95% of employees worldwide completed the 2003 poll, and commitment to the firm is
exceedingly high: 91% of respondents are willing to put in an effort beyond normal expec-
tations to get the job done. Strides in diversity continue, with 76% of employees believing that
the firm’s focus and efforts will make the company even stronger. Finally, at 71%, overall
satisfaction with the firm ranks well above external benchmarks. Areas for improvement included
continual enhancements to technology processes and services, and flexible work arrangements.