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Citi's CEO Jane Fraser warns staff in memo: old habits are out, and performance is in - Business Insider

Lau Chi Fung

— 3 min read

Citi CEO Jane Fraser Sets Ambitious Tone for Team

In a move that signals a shift towards a more collaborative and results-driven work culture, Citi CEO Jane Fraser has sent a company-wide memo emphasizing the importance of excellence and setting high expectations for her team.

The Memo: "The Bar is Raised"

Titled "The bar is raised," the memo aims to motivate employees to strive for exceptional performance and to adopt a player-coach mentality. The term "player-coach" refers to an individual who not only performs well but also helps others improve their skills and achieve success.

Key Takeaways from the Memo

According to sources, the memo outlines several key points that Fraser hopes will inspire her team to take ownership of their work and push themselves to deliver outstanding results. These include:

  • Higher Expectations: Fraser is clearly communicating that the bar has been raised for all employees, regardless of their role or department. This means that everyone must strive for excellence in their work and be willing to put in extra effort to achieve exceptional outcomes.
  • Collaboration and Support: The memo emphasizes the importance of collaboration and support among team members. Fraser wants her employees to work together seamlessly, share knowledge and expertise, and provide constructive feedback to one another.
  • Personal Growth and Development: Fraser recognizes that personal growth and development are essential for success in today's fast-paced business environment. She encourages employees to take ownership of their learning and development, seek out new challenges, and pursue opportunities for growth and advancement.

A Player-Coach Mentality

Fraser's player-coach mentality is all about creating a culture where everyone feels empowered to contribute and succeed. This means that she wants her team members to be willing to:

  • Take Ownership: Employees are expected to take ownership of their work, set goals, and track progress towards achieving those goals.
  • Seek Feedback and Learn from Mistakes: Fraser encourages employees to seek feedback from colleagues, mentors, and managers, and to use that feedback as an opportunity to learn and grow.
  • Support and Mentor Others: As a player-coach, Fraser wants her team members to be willing to support and mentor their colleagues, share knowledge and expertise, and provide constructive feedback.

What This Means for Citi's Employees

Fraser's memo marks a significant shift in the company culture at Citi. By adopting a player-coach mentality, the bank aims to create a more collaborative, innovative, and results-driven work environment. For employees, this means:

  • Increased Autonomy: With higher expectations comes increased autonomy for employees. They will be given more freedom to make decisions, take ownership of their work, and pursue opportunities for growth and advancement.
  • More Opportunities for Growth and Development: Fraser's emphasis on personal growth and development ensures that employees have access to training, mentorship, and resources needed to succeed in their roles.
  • A More Supportive and Collaborative Culture: The player-coach mentality promotes a culture of support, collaboration, and open communication. Employees will be encouraged to work together seamlessly, share knowledge and expertise, and provide constructive feedback.

Challenges and Opportunities

While Fraser's memo marks an exciting shift in the company culture at Citi, it also presents several challenges that employees must overcome. These include:

  • Increased Pressure: With higher expectations comes increased pressure to perform. Employees must be willing to put in extra effort to achieve exceptional outcomes.
  • More Responsibility: The player-coach mentality requires employees to take ownership of their work, set goals, and track progress towards achieving those goals.
  • Continuous Learning: Fraser's emphasis on personal growth and development means that employees must be willing to continuously learn and adapt to changing circumstances.

Conclusion

In conclusion, Citi CEO Jane Fraser's memo marks an exciting shift in the company culture at Citi. By adopting a player-coach mentality, the bank aims to create a more collaborative, innovative, and results-driven work environment. While this presents several challenges that employees must overcome, it also offers numerous opportunities for growth, development, and success. As Citi's employees embark on this new journey, they can expect increased autonomy, more opportunities for growth and development, and a more supportive and collaborative culture.

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