US Bank

$1.5M savings delivered within first three months

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Project Type:

Unified Workforce Optimization

Client:

US Bank - One of America’s top five banks

Sector:

Financial Services

The Issues

Workforce decisions made at tactical level and based on perceptions
Unable to attract and retain technology talent
Lack of productivity metrics and baselines leading to perception-driven productivity challenges and value
Inefficient cost management due to decentralized processes and multiple rate cards
Unclear career path and development goals for extended workforce and employees
Lack of alignment between IT, Finance, HR and Procurement

The Solutions

Conducted workforce mix analysis to understand the cost economics of employee and extended workforce
Leveraged TDX Services Procurement module to parse and analyze SOW documents to identify mis-classification costs and risks
Implemented TDX to baseline talent roles and skills to a standard taxonomy
Analyzed and defined rate cards across business units and suppliers using TDX
Set a path for a holistic rate management strategy

The Results

Identified savings action plan, targeting $8.5M
Delivered $1.5M hard savings in first three months

Next Steps

Client is on a multiyear digital transformation journey
Workforce decisions can be made based on insight and decision support to enable quality, productivity and cost management

How did The Client benefit?

Improved hiring manager satisfaction by 25%

Complete visibility into statement-of-work / services procurement spend

Improved supplier satisfaction by 25%

Increased talent quality, thereby driving higher productivity

Reduced time-to-fill for critical roles across contingent and employee workforce

Reduced IT project delivery risk

Other Case Studies:

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General Mills

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Cisco

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Simplified supplier landscape by 75%

Illumina

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3M

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Illumina

Global contingent workforce transformation action plan

General Mills

The best workforce strategy for the future

Cisco

$50M savings opportunity identified within 100 days

3M

Simplified supplier landscape by 75%

Seeing is believing

Curious to see how other companies manage the economics of their workforce? Schedule a live demo with one of our TDXperts.

Workforce Analytics

Contingent Workers

Workforce Management