Bank One Jp Morgan Chase

Morgan Chase and Bank One Strategic Plan and Human Resources Role

Morgan Chase conducts business in two broad spheres of activity: global financial services and retail banking. J.P. Morgan looks for providing the latest training and instruction online for long-term investment of its people. It makes use of E-learning that helps cut training costs J.P. Morgan looks the potential of such strategic plans for broader business impact: tying learning to increased sales, improved employee retention, and better customer service. The importance of human resources has been a high priority in J.P. Morgan, as the management in J.P. Morgan believes that the more the employees know, the more they can accomplish (Swanson, 2001). J.P. Morgan Chase also values E-learning's ability to get across information quickly in an organization. Its recently merged bank and investment company in October introduced 14 hours of online E-business to prepare its employees to create E-business solutions for customers. The total investment of J.P. Morgan Chase's in E-learning initiatives have run more than $7 million.

J.P. Morgan is always been an employee-oriented company. It strategic plans are to make its employees satisfied, as it provides the benefits of a comprehensive retirement services to its employees. Besides it offers many opportunities for employers to integrate and leverage the various services they require to effectively manage their defined benefit plans, including the ability to bundle actuarial, administration and asset management services that provide participants a complete picture of their retirement benefits, which can lead to more informed decisions, and a greater appreciation of their total retirement benefit and increased retention and loyalty. In addition, J.P. Morgan has a mentoring program in the company that ensures that all of its employees, especially minorities are trained for taking the larger responsibility of the bank (Mehta, 2001).

Bank One was the nation's fourth largest bank holding company with assets of more than $264 billion. Bank One Corporation operated 81 affiliate banking organizations and more than 2,000 branches, primarily throughout the Midwest and Southwest of the United States. Bank One ranked as one of the country's largest banking organizations, creating a wealth of career and job opportunities in a newly expanded and growing marketplace. It was committed to delivering superior financial services to businesses and consumers across the nation. Bank One operated nationally as well as across several continents.

In recent years, Bank One was losing premier customers at an alarming rate. The reasons were related to a lack of consistency throughout the organization. Recently, Bank One realized that it needed to both radically change the way it conducted business and enhance the experience of its customers. Thus Customer Relationship Management strategy emerged as a top priority for Bank One. Bank One was more inclined to automate its services, without really providing the training and motivation to its employees (O'Laery, 2004). It was to a large extent was creating low morale for the employees.