In today’s highly competitive banking industry, utilising workforce management tools and principles can help drive significant benefit realisation in the retail branch environment. WFM is proven in its ability to support productivity and performance, along with providing gains in revenue generation, service quality, and customer satisfaction. Workforce planning tools help to drive these outcomes, and they, along with cultivated business engagement, continued development of capability and processes, and a balanced perspective of opportunities and shortfalls, become key to embedding good workforce management practices and achieving long term goals.
NEXA understands that the best results in WFM are delivered by experts invested in the process, and leaders who are engaged and have a clear strategy for workforce management both on a day to day basis and over the long term. Our insight comes from hands on experience, leveraging knowledge from working in and with large financial organisations, and an understanding of the benefits, challenges and opportunities workforce management at its best (and worst) can present.
NEXA offers the following services for Workforce Management within the retail environment:
An independent and unbiased evaluation, our Health Check services are forward-thinking, and offer a fresh perspective, objective assessment, and actionable insights for improvement and / or change. Health Checks include diagnostics, analysis, and detailed findings designed to support strategic initiatives and operational effectiveness. Three of the key Health Checks provided by Nexa include:
• WFM Adoption & Effectiveness: evaluate how well WFM has been adopted by key user groups; how effectively the tools and methods are being utilised, and what key areas require future focus in terms of challenges and opportunities. Use these findings to develop a WFM roadmap for improvement and sustainability.
• WFM Process Efficiency: investigate processes specific to WFM; identify bottlenecks, constraints, and variables that may be limiting effectiveness or buy-in. Use these findings to evaluate development requirements and opportunities for change.
• WFM Reporting and Analytics: assess the value of WFM analytics and reporting in your business; identify gaps in information and business requirements not being met; understand what information and reporting would be of greater value and more relevant to each level of the business. Use these findings to source and develop a suite of intuitive reports that provide refined insight, identify opportunities, and align current performance with business measures and initiatives.
Time Studies are critical to understanding the workload, operating rhythm, and resource requirements of the branch environment. They work to support WFM processes by providing relevant and comprehensive representation of the current operating environment and what a typical day looks like in your organisation. Through data collection and analysis, Time Studies enable a business to identify process improvement opportunities; estimate the impact of initiatives and change; understand relationships between system data and on the ground activities; and update current and future forecasting models.
Workforce planning applications can sometimes be hindered by limited and inflexible reporting capabilities. In order to deliver quick and easy access to valuable information, NEXA provide the Reportal©, a desktop application that minimises the time, effort, and expertise required to access and manipulate the data you want in the context that you need it. Utilising database tables, the Reportal© sources and configures information in a highly flexible and customised format, delivering user defined metrics for analysis and review. The Reportal© is designed for use by WFM specialists, business analysts, and leaders who are looking for a more comprehensive reporting solution.
Training – for Retail Financial Services
NEXA provides hands-on training for Retail Financial Services technology. Training is designed for primary users of the Forecaster and Scheduler applications, specifically those who may be new to the tools, or those who have had minimal hands on experience and are transitioning to a more active user role. Facilitated workshops provide participants with an understanding of the solution suite, use of core functionality, and its application in the working environment.
In addition, NEXA also provides consulting services to support businesses in the development and optimisation of workforce management. The NEXA Consulting Team has extensive experience in both WFM and Retail Banking and offer strategic, operational, and tactical expertise through workshops, contracting, and consulting.
- WFM 101
- WFM Roadmap Development
- Building Successful WFM Teams
- WFM Operating Rhythm, Infrastructure & Workflow
- Development of WFM Targets and KPIs
- Modelling for Organisational Change
- WFM Sustainability
- Model Refinement
Please contact us or call on 02 9369 1999 to discuss how NEXA can help develop Workforce Management for your business.