US Bank

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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%

Improved hiring manager satisfaction by 25%

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

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

Improved supplier satisfaction by 25%

Improved supplier satisfaction by 25%

Increased talent quality, thereby driving higher productivity

Increased talent quality, thereby driving higher productivity

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

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

Reduced IT project delivery risk

Reduced IT project delivery risk

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Seeing is believing

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