Michele Terry the Aspiring Banking Executive

Michele Terry the Aspiring Banking Executive

Article summary

A 45 years old lady, Michele Terry who is a marketing manager of a small financial institute, lived with a dream becoming an executive vice president one day. However, she could feel the uncertainty to accomplish this goal, because the Federal Bank in which she is employ have no plans for her advancement to that position. The major challenge Michele faced on her journey to achieve the executive vice president position, is lack of higher academic degree. The financial industry was hiring individuals with MBA’s whereas she was holding only graduate degree. It was more frustrating for her when she observed that staffs that she hired were promoted over here. This played a role as one of the frustrating factors that her long time goal to become the executive vice president will not be accomplished. She also lacked the “varied experiences in the financial services industry” (Greenhaus, Callanan & Godshalk, 2010). Further to Michele’s dismay this industry felt that she did not have the image to be an executive officer, despite her competency. Michele re-evaluated herself and decided not give up on her longtime goal. She realized that although there was a chance for her to advance, getting that position would be slim to none. Michele then took steps to “broaden the scope of her current position” (Greenhaus, Callanan et al. 2010). She developed herself by enrolling in training seminars, chaired a task force on new market development project and served as a mentor to upcoming younger managers. Her approach was to make an effort to influence the bank’s approach to community development. Michele began to experience a work-life balance and became more relaxed. She became instrumental in her husband’s career success and scored an outstanding performance appraisal. Instead of being disappointed out of the frustration for not being able to fulfill her long-term goal, she began to make great contributions to the bank. Michele re-evaluated her career and took measures to develop her current career.

Talent Management

Michele served at the Federal bank for five years. During her five years career in Federal Bank she had 15 interviews with other financial institutions, with hopes of possibly advancing in her career to executive vice president. This shows that Michele had both conceptual and operational goals. She wanted to attain the executive vice president position as a means to influence the Federal Bank’s direction. However, Michele had to utilize her operational goal by enrolling in training seminars and chairing projects while remaining in her current position as a means to gain more practical experience in an effort to advance her skills and competencies.

The Happy Manger website (2014) describes employee appraisal as a “process of mini reviews culminating in a one-to-one conversation between managers and their reports. These are used to develop a shared understanding of the individual’s performance.” Michele’s feedback from her performance appraisal meeting with her superior made her realize that she should consider changing her goals; or retain her goals but revise the strategies. She would need to pursue her Master Degree because this is one of the requirements that the financial industry was looking for.

The bank had the duty of providing performance appraisals however according to the article no succession planning was in place for potential candidates for advancement. Also Michele did not practice career exploration to help her develop her career goals. She did not have the information about