The latest in operational and digital transformation through people.
Let's face it, 2016 doesn't look any easier. With the stock market in turmoil and oil prices plummeting, it is safe to assume global CEOs in almost every industry will face a daunting combination of external fiscal pressures, competitive forces, misguided strategies, ineffective business plans and lackluster improvement efforts. In the aftermath of this perfect storm, companies will struggle to reach their goals.
According to The Economist, if there is a harsh lesson to be learned from China’s recent panic it’s that the rest of the world needs to raise its level of productivity. Long gone are the days where relentless Chinese expansion could be relied upon to keep the global economy moving, and despite external factors that promote robust productivity growth, companies continue to lose ground. If tackling productivity at the microeconomic level is the key to unlocking a nation’s true potential, then business leaders must be part of the solution.
It is estimated that meetings consume more than two days a week of an executive’s time and 15% of an organization’s collective time. It's no wonder many executives are exclaiming, "We must stop meeting like this!" to their supervisory and management teams.
In a recent interview with several c-level executives, we had the opportunity to discuss how to bridge the gap that often exists between a company’s best demonstrated performance and its true potential.
In several of our recent engagements we have witnessed first-hand the enormous amount of pressure on CEOs to meet the stringent demands of both stakeholders and customers. One such demand that continues to be a top priority for executives is employee productivity. Our experience tells us that a decline in workforce performance and efficiency can put a major dent in an organization’s bottom line.
Critical to the success of every bank is creating a healthy balance between outstanding customer service and employee satisfaction. Establishing a customer-first mentality starts with developing a framework of processes, systems and behaviors that support the customer experience.
Providers must constantly assess internal operations and measure results to stay ahead of the game. However, our recent findings show that most insurers are not tracking metrics that accurately reflect consumer perception. Without this type of valuable insight, they have no way of knowing what to improve upon from a customer’s perspective.
The ability to run operations at full capacity, and then sustain them, is a major challenge for the mining industry. Vital tasks, such as crushing and transferring minerals, are suffering because people and equipment are not being utilized properly. The end result is low productivity and the high costs that are associated with it. However, our recent findings show that it in many cases it is possible to increase productivity in mining between 20 - 40%, reduce supply costs between 10 - 15% and cut energy costs by 2 - 10% through effective asset management.
Knowledge transfer a must
In the natural resources industry, companies are faced with the daunting challenge of maintaining current production levels despite an industry-wide shortage of skilled workers. For example, the lack of college graduates specializing in mining operations
It seems that the only constant in the insurance industry these days is change. The emergence of new technology and “big data” are altering the way insurance carriers conduct business. Long gone is the time where people relied on an agent to buy an insurance policy.
In several of our recent engagements we have witnessed first-hand the enormous amount of pressure on CEOs to meet the stringent demands of both stakeholders and customers. One such demand that continues to be a top priority for executives is employee productivity.
Do your employees feel a connection in the workplace? If not, consider the following: Towers Perrin research reports companies that have engaged employees report a 6% higher net profit margin. In addition, Kenexa research concludes that engaged companies have shareholder returns that are five times higher over the course of five years.
Organizations dealing with rapid changes are often plagued with inconsistencies that limit production and produce erratic results. So why not devise a plan to stop wasteful practices and become more productive? Sounds easy enough, however gaining employee acceptance of a new approach can be extremely challenging. Two key elements must be considered for a large-scale project such as this to be a viable option: behaviors and change management.
Every year hospitals waste millions of dollars on misused or overused items, such as disposables, general supplies, laundry, uniforms and food. Changing a wasteful culture starts with identifying and correcting processes that that are detrimental to the inventory management process. However, this type of change is easier said than done. It is often difficult for hospital executives to implement a new framework of operations on every floor – they neither have the time nor the resources to execute a plan of this size and scope.
It seems obvious enough that excellent customer service is something every bank, or any public-facing business for that matter, should strive for. With so many options for customers to choose from, customer service is the "x-factor" that banks need to stand out from the crowd. To the average person, banks all look the same from the outside, but it's what's on the inside that will keep them coming back for more.
Due to the influx of patients caused by health care reform, doctors barely have enough time to see patients let alone pharmaceutical sales reps. Since the chances of spending quality time in front of a doctor are now few and far between,