Capital one – Trade Secrets

Name: Casandra Howder

Class: BLAW 433 - Professor Johnson

Assignment: Trade Secrets Project

Date: 02/14/2016

Capital One – Trade Secrets

I am currently working for Capital One as a Customer Experience and Sales Specialist/Coordinator for a department known as Capital One 360. This department has all online accounts, so I am the only contact our customers have to the company. I service accounts, provide banking solutions, handle disputes/complaints, and recently was promoted to an Adjunct Facilitator. In this role I train employees on changes that occur in the company and on areas where quality is low.

One trade secret at Capital One is the incentive program they created. Our incentive is set up in a way that rewards us for being successful in sales, customer service and quality, relative to our peers. So, if customers were not opening new accounts due to economy or season, we are not penalized, because everyone in the organization is being effected. Also, it takes into account the quality of our work and the feedback given by customers when determining our commission and benefits.

Another trade secret is Capital One’s training program. They use an adult learning process which requires the employees to interact with each other throughout the learning process. Trainers are only there to keep people on task and answer questions. They do not lecture, as Capital One does not believe that is an effective way for adults to learn and retain information.  

Another trade secret might be the customer base. Capital One retains all information about every customer they have ever had, even after accounts are closed. Employees are unable to disclose any information about the accounts we have unless we are taking to the customer.

Another trade secret is their evolution system. They created seven levels which include, Believer, Promoter, Champion, Advocate, Assistant Sales Coach (ASC) and Sales Coach. An Associate is a Believer for the first month of training, job shadowing, and practicing the basics. The next month they are a Promoter-In-Training, and then a Promoter. After 6 months an employee can promote to a Champion if they meet sales and quality standards. Champions get a significant pay increase and added responsibilities. After 6 months associates can than promote to Advocate if they meet their sales and quality goals once again. This position has an even more significant pay raise and added responsibilities. Finally, employees can promote to an ASC if a position opens up, they meet certain standards and have the ability to lead. This position eventually leads to Sales Coach when an opportunity presents itself.

A final trade secret is the computer programs we use. Our main system is known as Sassy. This program gives employees full control over all aspects of a customer’s accounts. The system is extremely efficient and easy to use. We have another system/data base known as Frank. Frank is like a Google search engine that contains all and any information an employee might need while working at Capital One 360.

The previous information constitutes as trade secrets because a trade secret may consist of any formula, pattern, device or compilation of information which is used in one’s business, and which gives him an opportunity to obtain an advantage over competitors who do not know or use it, and the above information all give Capital One a significant advantage. Capital One 360 is one of the only banks with no overdraft fees, no maintenance fees, no minimum requirement, and they pay a higher interest rate than most any company.

Capital One has many security procedure in place to protect delicate information. As an Adjunct Facilitator I am given training material to go over before leading a class. I saved the documents on a thumb drive to practice at home, but found that I cannot open them unless on a work computer. Personal computers and cellphones are not allowed in our work space. Email at work cannot send information to an email outside of the company, and nor can we receive emails from outside. The building is secured with locks that can only be opened by our badges, and our badges can only get us onto certain floors are rooms. All calls are recorded as to monitor what information is given and perform disciplinary action as necessary. We are required to delete confidential or delicate information off of our email inboxes, computers, sticky notes and notebooks. We have special waste bins for these more confidential information that is disposed of properly. When your employment at Capital One is terminated, employees are required to be brain washed of all information pertaining to the job… Kidding. Just checking to see if you’re still paying attention☺.