Transforming your workplace
Employee experience (EX) is rarely baked into workplace initiatives, yet the workplace is where you can differentiate. When we looked at banks’ drivers for digital transformation, the usual themes emerged: more innovation, better customer experience (CX) and keeping ahead of new entrants (39%-41%). However, EX was bottom of the list (20%). Banks need to connect EX with CX.
Based on our latest research we found that when it comes to workplace transformation, you can’t go it alone. IT, HR and the business divisions need to work together. The good news is that most CIOs have positive relationships with the business divisions and a strong business mindset that sees technology as a key enabler of performance. However, HR has often been the missing piece and is rarely brought into major transformational projects, despite their input being critical, especially around workplace issues.
Our recent research into workplace transformation for retail banks and general insurers suggests this may be changing:
- HR want to be involved in transformational work and are happy to work with IT and the business – almost half of HR respondents (47%) in financial services thought their roles should be prioritized when considering a workplace transformation initiative. This was the highest response across all 21 sectors we covered(industry average was 38%).
- 72% of HR respondents said that adopting new workplace technology was the top priority in transforming EX – the highest across all sectors (industry average was 63%).
- Banks and insurers agreed that talent acquisition (40%) and up-skilling (37%) are major workplace transformation challenges.
To find out more, download our latest point of view .