18 April 2017
The Evolution of Work - Investing in Your People and Teams
In my last blog, I discussed the main challenges facing financial services organisations today when it comes to achieving cost savings and productivity improvements. I will now look at the best approach on delivering business objectives through better management of people and resources.
To deliver a real change, we must look to how the innovative Fintechs are approaching the challenge. Organisations need to recognise that the reluctance to deal with complexity is one of the biggest sources of cost. The focus should not only be on how people work, but also what work they do and why they do it, on a granular level. Invest in giving your people and teams the tools and capability to do the right work, automating where possible and ensuring your people are doing things that makes a difference for both the business and the customer alike.
Once an organisation commits to a particular strategy and operating model, Business managers need to commit and tackle complexity in every corner of the organisation. They need to stop some work and change how, where, when and by whom the remaining work gets done. They should rethink and redesign end to end customer engagement and work practices seeking simplification, automation and digitization where possible.
The future of work will more and more be about getting work completed, by the most appropriate person, at the time required, in the most apt location and using the most suitable device. Our supervisory functions will give control of work back to the business, giving real-time visibility of all available skilled and qualified people, all work queues, service requests, priorities and deadlines, and a real-time capability to adjust what, when and who should carry out what.
Some key points to note when it comes to transforming both “what” and “how” work is performed:
- Eliminate unnecessary or nice-to-have activities: Do business managers really know what people are actually doing with their time? Why they are doing each task, and more importantly should they be doing it in the first place? Having this insight would give clarity as to what activities are consuming time, causing delays, impacting the customer and increasing the cost of business.
- Deliver to customer expectations with expected service levels: Work should be prioritised based on how it effects the business and the customer alike, reprioritise when needed and not be constrained by legacy operational systems or antiquated work practices.
- Standardise and reduce activities, work practices and processes: Remove unnecessary work, tasks and activities.
- Centralise activities and functions and consolidate processes: Establish a network of functional and expert teams seamlessly working together achieving economies of scale through specialisation.
- Automate and re-sequence activities and work practices to improve flow: Apply technologies to remove work and activities for both your staff and customer alike, getting more done, faster and in less time.
- Easy everything: Easy to use, easy to try, easy to deploy, easy to adapt, easy to integrate, easy to expand and easy to scale should be the mantra.
Over the years we have invested in our enterprise work management software, giving business leaders the capability to quickly transform the workplace. Managers, team leaders and employees are given the data and clarity on the work that needs to be done within a given function, business unit or across a large multi-functional, multi- location enterprise. Our philosophy is to empower the business to make actionable decisions based on real-time, accurate information.