The Federal Reserve Bank of Chicago Mentoring Program Harvard Case Solution & Analysis

The Federal Reserve Bank of Chicago Mentoring Program Case Solution 

Introduction

The Federal Reserve Bank of Chicago is a part of the Federal Reserve System of the US and there are twelve districts that are the part of the Federal Reserve System. Among these twelve regions there are 25 branches of the across nationwide and it is expected that each branch is performing different tasks such as supervising and regulating number of banks and bank holding companies, distributing the nation’s currency and coin and different functions of US Treasury.

It is expected that the management committee of Chicago’s bank consists of senior officers and heads of each department of the bank and this committee is responsible for the decision making of key issues. The management committee of the bank takes several steps in order to manage and implement an effective employee mentoring program which results in the significant cultural change and effective operations of the Federal Reserve Bank of Chicago.

The case describes the expansion of the program, and various processes that are establish for the effective implementation of the mentoring program and key to the program's success. Wixted is the key sponsor of the mentoring program and Amy is considered as the project manager and it is expected that the management committee of the mentoring program is considering expanding the mentoring program,whereas maintaining the key aspects of the program could lead to the success.

Reasonsbehind FRBC’s Decision to Establish a Formal Mentoring Program

It is expected that there are several reasons behind establishing the Mentoring Program by the Federal Reserve Bank of Chicago. FBRC is recognized as such an organization that has clear mission and it provides a stable working environment to employees which results in greater employee’s satisfaction and enhanced retention ratio. Due to having clear mission and goals and stable working environment with skilled and expert staff, the image of the Bank is becoming more positive among society therefore, the management committee of the Federal Reserve Bank wants to maintain this image, as a result it is considering for an expansion plan.

In order to achieve the long term success and in order to enhance the enthusiasm and determination among the employees management committee of the Federal Reserve Bank, it is considering for the expansion of the monitoring program which provide a training opportunity to employees for better relationship between employees and organization. The program is also designed in order to provide greater opportunities to the employees to develop their skills that could create leadership skills and coaching skills among employees who do not have access to such opportunities before this program.

Proposed Benefits of the Mentoring Program

The program is specifically designed to satisfy the needs of the FRBC.It is expected that there are numerous benefits of mentoring program and FRBC will could train and develop its employees and in order to increase the efficiency and productivity of employees. The benefits may also include the increased efficiency and highly developed employees as well as it also enables the mentor to give back what he has learned from the company towards the employees as well as the organization...................

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