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Depository Trust & Clearing Corporation (DTCC) Implements Modern Survey's m/perform
The Client:
The Depository Trust & Clearing Corporation (DTCC) controls subsidiaries which provide the communications for clearing, settlement, and custody US securities matters. DTCC is comprised of The Depository Trust Company (DTC) and the National Securities Clearing Company (NSCC) in 1999. The companies each were founded in the 1970's. DTC is the world's largest securities depository and clearinghouse; NSCC processes the majority of broker-to-broker corporate, municipal, and equity bond trades in the US. DTCC conducts business through 6 subsidiaries each one has a different focus. DTCC depository provides services for 3.5 million securities issues from the U.S. and over 100 other countries worldwide; those total to $40 trillion dollars. Last year, $1.86 quadrillion dollars in security transactions were settled by DTCC. www.dtcc.com
Business Situation:
DTCC wanted to build a customized performance appraisal system that would allow their leaders to complete and release appraisals online as well as obtain approvals. The goal of the appraisal process was to help DTCC better understand their employees' performance levels, and also to help the company distribute a compensation bonus pool. Ideally, the appraisals would yield results that graph out on a bell curve, with the highest and lowest possible scores being balanced. This makes the distribution of a bonus pool easiest. Looking to conduct appraisals for approximately 3,000 employees using four unique appraisal forms, DTCC turned to Modern Survey to provide the technology, project management and consultation to ensure the project's success.
Solution:
DTCC presented Modern Survey with a very specific set of technical requirements they needed met to consider the project a success. Such requirements included: specific password protection guidelines, a screen data auto-save feature acting prior to timeout, a ratings distribution feature to allow managers to drill down in each of the ratings, hierarchy validation instituted as a separate step, generalist access to on-line appraisals while they are being written, functionality that maintains the original author of an appraisal even if the owner has changed, PDF views available for all appraisals with managers granted access to view finalized employee appraisals, and more.
Employing the m/perform research tool, Modern Survey was able to meet all of DTCC's detailed requirements, providing a secure and efficient system for DTCC's performance appraisal process. This web-based system of collecting appraisals has served DTCC for over three years, undergoing a series of updates and revisions as DTCC's requirements have changed. Working with DTCC to architect the system they envisioned, Modern Survey has demonstrated the powerful and adaptive capabilities of this innovative tool.
About Modern Survey:
In less than a decade, Modern Survey has evolved into an online survey market industry leader, providing a robust suite of proprietary technologies combined with an array of consultative services that help our clients manage talent throughout the employee lifecycle, measure and evaluate customer satisfaction and gain insight into changing markets. Modern Survey products and services have spanned 100 countries on six continents in over 30 languages. In 2007, Modern Survey received over one million web survey responses and generated tens of thousands of advanced reports. Through direct and partner channels, Modern Survey's tools and services have reached more than 500 companies, over 80 of which are among the Fortune 500. For more information, please visit www.modernsurvey.com.
