Our client faced all too-familiar concerns from the analysts:
- Unsustainable staff costs, continuing to rise year on year
- Costs holding back delivery of goals on regulation, margins and customer service
- A series of top-down cost cutting exercises had failed to make the required sustainable impact
New thinking was required.
Our People Profit Management® analysis, containing algorithms developed with over 20 years’ experience, identified:
- Close to $2bn of achievable people cost savings,
- $500m of immediately addressable opportunities
- significant benefits from re-balancing unequal levels of reward for like-work and fine-tuning the location where work is completed
Management could now see the bigger picture; they connected the dots between people and business performance, identifying areas for improved value and cost reduction that weren’t visible on the existing P&L and HR reports.
These unconventional levers helped the COO and HR function work together to plan a more sustainable people cost base as they re-modelled their business for the future
$2bn of efficiency savings identified
$500m of quick wins to explore
Savings were invisible on the P&L