Challenge
As part of preparations for a potential transaction, this wealth management organisation was seeking to reduce operating costs and improve productivity across Wealth Operations.
An initial diagnostic identified opportunities across workforce productivity and operational performance. While workforce management practices were relatively mature, leadership believed additional capacity could be unlocked through improved productivity management, clearer performance visibility and stronger operational disciplines.
Members of the Cinc team were engaged to validate the opportunity through a proof-of-concept and develop a roadmap for broader implementation.
Approach
A ten-week proof-of-concept was delivered using existing systems and technology, working alongside operational leadership to improve workforce productivity across selected teams while developing a plan to scale and industrialise successful practices.
The proof-of-concept focused on:
Productivity Measurement
Developing an enhanced productivity measurement framework and performance dashboard suite to provide greater visibility of workforce performance and improvement opportunities.
Performance Management
Introducing revised operational routines, management disciplines and productivity management practices to address root causes of performance variation.
Test-and-Learn Delivery
Implementing and refining practical improvements using an agile test-and-learn approach, enabling rapid validation of productivity initiatives.
Scale and Industrialisation Planning
Developing a roadmap to support broader rollout across Wealth Operations, including implementation sequencing and benefit estimates.
Additional Opportunities
Identifying further opportunities to strengthen quality management, workforce planning and the future operating model.
Following the successful pilot, members of the Cinc team were engaged to support rollout across the broader operation and design the organisation's future-state operating model.
Team members involved: Peter Campbell and Steven Tan.
This engagement was delivered prior to the establishment of Cinc. The experience and results described reflect work personally delivered by the team members identified above.