A very insightful article on Leadership of Citi Group. They really need to invest in the digital transformation as their performance lags behind all players. I guess the choice of empathy as a competitive differentiator should be a learning lesson for other businesses. Empathy should be embedded in the culture of any business but not as the sole competitor advantage!
Thank you. The challenge with esoteric concepts like "empathy" is how to operationalize it. E.g., empathy => understanding client needs => higher client retention => removing reps losing most clients is a very complex connection - instead, Citi could just analyze the reps who lose the most clients and find common reasons (bad playbooks, weak hires, subpar training).
A very insightful article on Leadership of Citi Group. They really need to invest in the digital transformation as their performance lags behind all players. I guess the choice of empathy as a competitive differentiator should be a learning lesson for other businesses. Empathy should be embedded in the culture of any business but not as the sole competitor advantage!
Thank you. The challenge with esoteric concepts like "empathy" is how to operationalize it. E.g., empathy => understanding client needs => higher client retention => removing reps losing most clients is a very complex connection - instead, Citi could just analyze the reps who lose the most clients and find common reasons (bad playbooks, weak hires, subpar training).
Check out this follow-up development of Citi's re-org announcement: https://www.ft.com/content/5e8d7d8f-e435-4c80-b275-0b1baea86f8f