Case in Point: Edward Jones Communicates Caring
Case in Point: Edward Jones Communicates Caring
Ways in Which Edward Jones could Increase Effectiveness in Communication
Communication is a crucial aspect of the operations at Edward Jones because of the way that the company has structured its functions. The company allows its employees to telecommute and encourages the financial advisors to pay regular visits to investors. This method of carrying out business has made Edward Jones one of the best companies to work for in the United States. Because of the importance of communication for the firm, it is important for Edward Jones to find a way to improve the way that employees interface with each other and with clients.
One way of improving communication in the firm is by encouraging informal contact inside the company. According to Griffin and Moorhead (2010), informal communication helps to build informal trust within a company and this can significantly improve the relations between colleagues. Another way in which the Edward Jones can improve communication in the firm is by balancing the information that the management disseminates. Scholars argue that the balanced communication helps prevent situations where employees do not go through all of the information that they receive (Griffin & Moorhead, 2010).
Qualities that the Firm looks for in New Advisors and their Effect on the Organization’s Culture
Edward Jones’ organizational culture is an important aspect of the way that the company operates. Unlike most other investment firms, Edward Jones considers the wellbeing of its clients and employees a very important issue (Reynolds, Bauer & Erdogan, 2009). For this reason, it is likely that the company has very specific attributes that it looks for in potential recruits. Firstly, it is likely that Edward Jones prefers to hire people who have good communication and interpersonal skills. Communication is an important element of the operations at Edward Jones. As such, prospective employees must have the ability to interface well with their colleagues. The ideal recruit for Edward Jones would have the ability to communicate and cooperate efficiently with other people. It is also likely that Edward Jones prefer their employees to have honesty and integrity, with both being qualities that the firm boasts of having.
These attribute are likely to have a positive impact on the organizational culture at Edward Jones. Normally, organizational culture dictates the identity of a firm and the values that it instills in its employees (Wood, 2011). By hiring employees who mirror its culture, Edward Jones would be able to strengthen the values and norms that it has been practicing and make it easier for experienced employees to work with new recruits. The firm would also ensure that it remains morally responsible within an industry that has been publicly bashed for a supposed lack of ethics.
Ways that Technology has Improved the Effectiveness of Communication for Edward Jones
As a company that relies on communication for its efficiency, Edward Jones has benefitted from the various improvements in the telecommunications sector over the past two decades. Firstly, the growth of the internet has made it possible for employees to telecommute. This means that some of the company’s workers are able to work from their homes or remote locations and avoid tedious commutes. As such, employees are likely to be happier and more motivated. Improvements in communication technology have also made it possible for the firm to maintain close contact with their clients. This has helped them build close relationships based on trust (Reynolds et al., 2009).
Customer Service Policies in Effect at Edward Jones
the fact that Edward Jones prides itself for being a morally responsible firm
it is likely that customer service policies revolve around the maintenance of
good relations with clients. It is likely that the firm has a policy in place
emphasizing full disclosure between financial advisors and investors. This would
ensure that advisors do not engage in reckless activity and that the investors
are always informed about ongoing deals. It is also possible that Edward Jones
has a policy that insists that the employees consider the clients wellbeing
first. This would make sure that workers do not carry out risky trading
practices for the sake of maximizing profits. Through such policies, Edward
Jones reinforces a culture of ethical and moral responsibility within employees
as well as openness between clients and their advisors.
Griffin, R. W., & Moorehead, G. (2010). Organizational behavior: Managing people and organizations. Mason, OH: South-Western/Cengage Learning.
Reynolds, C., Bauer, T. & Erdogan, B. (2009). Principles of management. New York: Flat World Knowledge.
Wood, J. T. (2011). Communication mosaics: An introduction to the field of communication. Boston: Wadsworth Cengage Learning.