Academic journal article Journal of Leadership & Organizational Studies

The CNC Financial Services Group: A Case Study of Team Formation and Recruitment by Another Company

Academic journal article Journal of Leadership & Organizational Studies

The CNC Financial Services Group: A Case Study of Team Formation and Recruitment by Another Company

Article excerpt

This is a teaching case about a group of individuals at a financial services firm who formed a team then was recruited by another financial services firm. This case examines how the team was formed and then considered the possibility of moving to another firm. The case is based on data collected from a series of semi-structured interviews of team members, their customers, and the manager of the firm that actively recruited the team. Data about the two subject firms were also gathered to build a context of each firm's working environment. Through an understanding of the organizational and environmental factors that enable teams to operate effectively, new learning and insights may help facilitate like efforts in the future.

Decker & Jones (D&J), May 2003

John had just finished up a call with one of the group's clients when Tim walked into his office and shut the door. "I just got a call from Claire over at Brintley Corporation (BC)," Tim said. "She'd like to talk to us about making a move other there." "Absolutely, we should talk," John responded without hesitation.

John was right to be receptive. This is how it works in this business. They had worked hard to put together their team at Decker & Jones (D&J). They were an effective financial services team. "We'll need to get with Art and discuss this," John continued. "Claire wants to meet for lunch next week to talk about this," Tim said. "Great" said John, "let's talk with Art, then get back with Claire and schedule a time to talk. I don't need to tell you that we need to keep this completely secretive, keep it just among you, me, and Art." "No," said Tim, "you certainly don't. If word got out about this, we'd be finished here at D&J; even Jan and Kim can't know right now."

Tim left John's office to talk with his brother Art and call Claire back to arrange for a luncheon meeting. John was left alone in his office to ponder the possibilities and risks of making such a move. Many things were rolling around in John's head about this latest development. The CNC team members had been working together as an official team for nearly 2 years now. Sure, they'd had their bumps along the way, but the team was working. All CNC team members knew their roles, and they worked well together, sharing common values. Decker & Jones supported the team concept and was generous in providing team training, good working conditions, and a state-of-the-art computer system. Survey results indicated their clients were happy with the CNC team and its services. A move to a new financial services company meant walking away from all of their current D&J clients and starting to build a new client base at a new company. No client records would accompany any such move, so building back a client base would rely on recall of client names. John was confident the team had built a strong relationship with clients and that many would move. However, it wasn't a sure thing. Each client would have to be contacted and asked if they would like to move their business to a new company. How many would follow the CNC team to a new company was unknown. Since compensation is based on production, John wondered how long it would take to get back to the current client base. The economy was just emerging from three really bad years for the stock market. Things were better, but still not great.

John wasn't at all sure about whether or not the entire team would be able to make such a move. Typically in this industry, recruitment interest focuses on the financial consultants, not their assistants. Jan and Kim were very important to the team, but it was not certain that any future offer from the new company would include their employment as well. When moves like this occur, many teams leave and don't even bring their assistants. That's not one of the negotiating factors. Kim had come with John both times he moved previously and at both times that was very important to him. …

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