Questions and Answers
What was a key factor cited by participants in the success of the mentoring program?
What concern did Rubinstein and Wixted have regarding the mentoring program?
Which aspect of the program's implementation was highlighted as important by mentees?
Who was the program manager for the mentoring program at the Federal Reserve Bank of Chicago?
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What did the senior management pressure Rubinstein and Wixted to do?
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What was the nature of the relationships described by the mentees in the program?
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When was the first formal mentoring program launched by the Federal Reserve Bank of Chicago?
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How many pairs participated in the initial launch of the mentoring program?
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What was a primary motivation for developing the mentoring program at the Bank?
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In what year did the Bank's leaders decide to revisit the idea of a mentoring program?
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Who was appointed as the executive sponsor for the mentoring program?
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Which initiative was prioritized over the mentoring program at the Bank?
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What did the advisory group primarily consist of?
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What concerns were expressed by members of the advisory group?
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Which was NOT one of the six teams established under the diversity task force?
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How many diversity commitments did the task force recommend?
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What was one reason given for not acting on the initial mentoring program proposal?
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What role did Amy Rubinstein take on for the development of the mentoring program?
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What term length do the Senate members serving in oversight of the Federal Reserve Banks hold?
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What was one of the prominent issues identified in the culture survey conducted by the Federal Reserve Bank of Chicago?
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Which of the following areas was NOT one of the six core areas organized around the 'Fresh Look' culture change initiative?
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Who took office as the president and CEO of the Federal Reserve Bank of Chicago in September 1994?
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According to Michael Moskow's observations, what was a significant characteristic of the Federal Reserve Bank of Chicago's culture upon his arrival?
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What was the purpose of the internal communication that outlined the results of the culture survey?
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What primary goal did the 'Fresh Look' project aim to achieve at the Federal Reserve Bank of Chicago?
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Which aspect of the organization did Michael Moskow believe needed to change for better decision-making?
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How many employees were approximately in the Chicago district of the Federal Reserve System in the year 2000?
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What role did the management committee play in the culture change initiated by Moskow?
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What was a major concern of the advisory group member regarding the Bank's initiatives?
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What was necessary for building trust among Bank employees regarding the mentoring program?
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What was a key decision made by the advisory group about the target population for the mentoring program?
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Which criterion was NOT required for mentees to participate in the mentoring program?
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What was the duration of the mentoring program as decided by the advisory group?
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Which aspect of the mentoring program was specifically mentioned as part of the advisory group's basic tenets?
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Which method was NOT used by the advisory group to market the mentoring program?
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What was the minimum business experience required for mentors in the mentoring program?
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What kind of feedback did Rubinstein hear about the mentoring program from Bank employees?
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Which of the following was a part of the program implementation process?
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What was the main reason for limiting the number of mentors and mentees in the pilot program to 25 each?
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How many applications were received for mentors and mentees during the selection process?
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What was a key criterion in selecting mentees for the pilot program?
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Which factor was NOT considered when selecting mentors for the program?
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What was the main focus of the matching process between mentors and mentees?
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Who was present at the start of the information sessions to introduce the program?
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What structured method did the advisory group use during the matching process?
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What was the purpose of the initial information sessions conducted by Rubinstein and Myrie-Hodge?
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What demographic aspects were noted about the population of the pilot group?
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What was emphasized by the consultant to the advisory group regarding the mentoring relationships?
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What was the primary purpose of the initial training session for mentors and mentees?
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How did the training influence the expectations of mentors regarding their roles?
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What was one key activity that took place during the second day of training?
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What was the main objective of the circle mentoring program?
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What type of groups were involved in the mentoring circles formed by the advisory group?
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Which of the following best describes the DISC inventory tool used in the training?
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What was one benefit described by a mentor after the training session?
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How many people generally made up a circle in the circle mentoring program?
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What was the main focus of the consultants during the role-playing sessions with mentors?
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In the context of the mentoring program, what is the role of a mentor during the agenda-setting meetings?
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What action did Rubinstein take when a mentee faced challenges with her supervisor?
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What was one of Rubinstein's responsibilities as the mentoring program manager?
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How often did Rubinstein perform evaluations of the program's effectiveness?
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What benefits did the mentees perceive they received from the program?
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What led the mentee to consider quitting the program initially?
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What significant change did the mentee experience after staying in the program?
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What was a notable response from senior management at an event for mentees?
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What specialized resources did Rubinstein develop for the mentoring program?
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What was one of the main benefits cited by the circle group mentees about their experience?
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What feedback did some mentees provide regarding senior management's support?
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How many mentees received promotions within nine months of starting the program?
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What concern did Pat Brunner have before entering the mentoring program?
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What was a key outcome of the monthly lunch meetings for the mentees?
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What helped Mary Jo Huck feel more at home at the Bank?
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What position did Rubinstein take on when she dedicated herself full-time to the program?
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What did mentees plan to do after the one-year formal program ended?
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What was a significant concern regarding some managers’ participation in the mentoring program?
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How did the mentoring program help mentees with career development?
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What initial assumption did Mary Jo Huck have about working in a financial institution?
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According to the mentees, how does the structure of the program benefit their professional development?
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What was the final step in the mentoring program's rollout timeline?
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Which event was specifically designed for mentors according to the sample event schedule?
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When was the application deadline for the mentoring program?
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Which audience was present at the guest speaker event on mentoring?
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What type of event occurred on March 29, 2001, aimed specifically at one group?
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On what date were pairs designated for matching in the mentoring program?
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What significant impact did involvement in the Bank-wide program have on the individual's career?
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What motivated one mentor to apply for the mentoring program?
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What effect did the mentoring experience have on the mentor's personal growth?
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What was the advisory group's concern regarding the advertising of the second round of the mentoring program?
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Which method was used to streamline the matching process for the second round of the mentoring program?
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What was one key complaint regarding the initial training session for the mentoring program?
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What was the outcome of the mentoring program on the employees who enrolled in school?
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What aspect of the mentoring program was reported to improve the morale of participants?
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When did the advisory group conduct the second round of the mentoring program?
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What benefit did one mentor unexpectedly gain from her participation in the mentoring program?
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What role does a mentee's manager play in the mentoring process?
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What is the minimum participation requirement for the mentoring program?
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What should mentors and mentees do if they face issues in their relationship?
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Will participation in the mentoring program guarantee promotions or new positions?
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Are mentoring sessions required to take place during work hours?
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What is the main goal of the mentoring program?
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Who has the authority to choose to end a mentor-mentee relationship?
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Which population is eligible for participation in the mentoring program?
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What happens if an employee has a heavy travel schedule?
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What is the goal of the periodic follow-up with the program manager?
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What was a significant reason for the advisory group's concern about expanding the mentoring program?
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What is expected from each participant in terms of time commitment for the mentoring program?
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What is the primary basis for matching mentors and mentees in the program?
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What is the role of managers in the mentoring program?
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What action is planned if too many mentees apply without enough mentors?
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What was one of the positive outcomes reported by participants of the pilot mentoring program?
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What aspect of the mentoring program was emphasized by the advisory group when considering expansion?
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When were applicants notified of their status for the mentoring program?
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Which advisory group member had previously worked on a mentoring proposal in 1996?
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Study Notes
Overview of the Mentoring Program
- Launched in September 2000, the Federal Reserve Bank of Chicago's formal mentoring program aimed to enhance employee development and retention.
- Initially included 25 mentor-mentee pairs supported by 4 circle groups.
- Program manager Amy Rubinstein played a critical role in facilitating relationships and fostering enthusiasm among participants.
Pilot Program Success and Challenges
- Positive feedback from mentees indicated high satisfaction and loyalty to the Bank.
- Despite success, the application rate for the second round was lower than expected, prompting concerns from senior management regarding its sustainability and expansion.
Federal Reserve System Structure
- The Federal Reserve Bank of Chicago is one of 12 regional reserve banks under the Federal Reserve System, which includes a Board of Governors in Washington, D.C.
- The Chicago district encompasses northern Illinois, Iowa, northern Indiana, southern Michigan, and southern Wisconsin, employing approximately 2,000 staff as of 2000.
Cultural Context and Change
- Historically, the Bank's culture was characterized by low morale and a formal, authoritarian environment, which prompted a culture survey in 1995.
- Management responded by initiating the "Fresh Look" project in 1996, aiming to foster innovation, open communication, and employee empowerment.
- The program targeted leadership, performance management, communication, skill development, and customer focus.
Initial Proposal for Mentoring
- The need for a mentoring program was recognized during discussions among managers; however, initial proposals faced resource allocation challenges and were deprioritized.
- Focus on a Diversity Initiative in 1997 led to mentoring being identified as a key strategy.
Development and Launch of Mentoring Program
- After revisiting the proposal in 2000, an executive sponsor was appointed, leading to the formation of an advisory group.
- Advisory group included stakeholders from various departments and aimed for a program design that addressed inclusion, skill development, and communication.
Program Eligibility and Marketing
- Eligible participants must have been employed for at least one year, in good standing, have effective performance ratings, and commit to 4 hours monthly for one year.
- Marketing strategies included creating promotional materials, holding information sessions, and direct outreach during lunch hours to increase awareness and interest.
Participant Selection Process
- Initially planned for 25 mentors and 25 mentees; ultimately, 37 mentors and 44 mentees applied.
- Selection criteria focused on access to opportunities and matching applicants based on coaching experience and relationship interests.
Matching and Training
- The matching process prioritized non-hierarchical relationships and compatibility based on personalities and professional goals.
- Training sessions for participants included role descriptions, goal setting, and dialogue skills, using tools like the DISC inventory to enhance communication and understanding.
Goals of the Mentoring Program
- Aimed to provide career development support and enhance employee retention by fostering meaningful mentor-mentee relationships.
- Emphasized that mentors serve as sounding boards allowing mentees to lead discussions and establish their own development goals.### Circle Mentoring Program
- Circle mentoring involves groups of 6 to 10 people with shared interests meeting with one or two mentors.
- Affinity groups include the Graduate Leadership Council (GLC) for employees in or recently completed graduate programs, and the Higher Education Resource Organization (HERO) supporting employees considering further education.
- Four mentoring circles were established, focusing on different developmental goals.
Program Management and Challenges
- Program Manager Rubinstein frequently checked on participants to maintain motivation and resolve issues between mentors and mentees.
- Training for the circle program occurred in November 2000, with a similar structure to pairs training.
- Rubinstein developed a resource library on mentoring and organized monthly lunch meetings for networking.
Evaluation and Support
- Participants underwent one-month, three-month, and six-month evaluations for program effectiveness, with a final survey planned for feedback.
- Senior management including Bank President Moskow supported the program by engaging with mentees and acknowledging mentors' contributions through events and recognition.
Informal Support Networks
- Mentees formed an informal support network, assisting peers in overcoming challenges and enhancing program utilization.
- Peer connections proved beneficial, with plans for informal gatherings post-program completion to continue mutual support.
Impact on Retention and Employee Development
- Within nine months, 7 out of 25 mentees were promoted, highlighting the program's positive influence on career advancement.
- Individual stories, such as those of mentees like Pat Brunner and Mary Jo Huck, illustrate how mentoring facilitated greater awareness of internal opportunities and boosted confidence.
Benefits for Mentors
- Mentors also experienced personal growth and improved job satisfaction, with examples of encouragement leading them to pursue further education through the Bank’s tuition assistance program.
Second Round of the Program
- A second round in summer 2001 aimed to include 30 pairs, with adjustments made based on pilot feedback, such as condensing training to one day.
- Only 23 mentors and 22 mentees applied, which was surprising given the initial demand and success of the program.
Future Considerations
- Advisory group members deliberated on expanding the program to accommodate additional participants without sacrificing its personalized nature, recognizing both high demand and the effective impact of smaller groups.
Program Administration
- The advisory group consisted of diverse members from various departments, including HR, diversity, and training.
- The matching process focused on aligning mentor and mentee goals and included a statement noting that participation did not guarantee promotions but fostered professional growth.
Key Insights
- Mentees' and mentors' experiences suggest that structured mentoring programs can significantly enhance employee engagement, career development, and morale within an organization.### Distribution of Mentee Applicants
- Total applicants: 44, categorized by salary grade and race/gender
- Highest number of African-American females: 19; predominant mentee group
- Notable applicants from salary grade 11: 10 total (2 African-American females, 7 Caucasian females, 1 Hispanic female)
- Lowest representation from Hispanic applicants (1 male, 1 female)
- Salary grades 4 and 6 had fewest total applicants (2 and 4 respectively)
Distribution of Mentor Applicants
- Total applicants: 37, with a breakdown by salary grade and race/gender
- Most mentors from Caucasian males (17 total); significant participation from Caucasian females (11)
- Salary grade 14 had the highest number of mentors overall (8: 1 African-American male, 1 African-American female, 3 Caucasian males)
- Asian females represented as mentors with 2 total
- Assistant VP level had significant mentor representation (7 total)
Program Roll-out Timeline
- Program initiation and presentation to management: September 11, 2000
- Marketing and applications distributed between September 11 and October 5, 2000
- Application deadline set for October 5, 2000
- Application screening occurred on October 6, 2000
- Pair matching designated on October 10 and completed by October 11, 2000
- Selected staff notified on October 13, 2000
- Orientation and training sessions held on October 23 and 24, 2000
- First orientation for circles scheduled for November 2000
Sample Event Schedule for Program Participants
- Key program events included career mapping for mentees, coaching meetings for mentors, and guest speaker events
- Notable events:
- Mapping Your Career for mentees on March 29, 2001
- Guest speaker sessions for all participants on May 22, 2001
- Volunteer activity planned for all participants on July 25, 2001
- Regular breakfast meetings for mentors and mentees scheduled throughout the program
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Explore the Federal Reserve Bank of Chicago's mentoring program through this insightful quiz. Learn about its inception, key players, and future strategies as discussed in a crucial meeting. Ideal for those interested in organizational behavior and mentorship.