Performance Management and Reward Systems at Scottrade Inc.

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"We start with the executives and director here at Scottrade. [They] get together once a year and set the strategic objectives for that year. We do a five-year strategy but we set specific objectives each year to reach that strategy, and after the objectives are set for the organization, every department and branch sits down and talks about what their goals will be to help us meet those objectives. Then after that, each individual sets goals in order to help the department reach their goals. So we row the boat all in the same direction so that we all have the same goals and the same desires to meet our performance for that year." ¹

- Jane Wulf, Chief Administrative Officer, Scottrade, Inc., in 2010.

Introduction

For the year 2010, US-based online brokerage firm Scottrade, Inc. (Scottrade) did reasonably well compared to its competitors who were hit hard by the turbulent environment in which the entire financial services industry found itself. Jane Wulf, (Wulf) who looked after the Human Resources, training, branch development, and national service center at the company, attributed the firm’s performance to the efforts of its workforce and the performance management activities the company had adopted.

Scottrade had captured the attention of HR and performance management experts with its quick, targeted, and easily accessible performance management and reward systems.

Performance Management and Reward Systems at Scottrade Inc. Contd... >>

1] Daniel Margolis, "Cornering the Market on Talent," www.talentmgt.com, August 2010.

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