HR transformation helps bank retain top talent
To help it recruit and retain top talent, a large bank holding company turned to KPMG’s consultants and Workday technology to transform HR capabilities.
Client
A large bank holding company
Sector
Financial services
Project
Enabling mobile HR employee experiences with Workday technology
Client challenge
Our client – an innovative leader in the financial services industry that offers comprehensive mobile and web capabilities to its customers – competes for top talent in an increasingly technology-driven environment. It wanted to provide an employee experience that matched what it offered to clients, and realized that it needed to make a major technology change to meet that goal. In addition to enhancing employee recruitment and retention, the company also wanted to:
- increase business intelligence capabilities by breaking down reporting silos
- mitigate operational risks associated with its complex time-tracking and payroll systems
- reduce HR operational costs by driving transactions through self-service technology
- reduce the costs and time required for traditional enterprise resource planning upgrades
This was a consulting partnership that extended beyond the technology solution.
Our Approach
This client engaged KPMG to lead the implementation of the Workday HR system for three important reasons: We offer a strong Workday experience with a deep HR background, proven tools, and a consulting partnership that extends beyond a pure technology solution. We also understood the client’s unrelenting commitment to enhancing the employee experience. The project included:
1
A broad scope comprised of human capital management, payroll, absence management, compensation, time tracking, benefits and talent management for tens of thousands of employees in several countries.
2
Leveraging our proprietary tenant to align the client’s business processes to leading HR practices.
3
Defining key business requirements for Workday enhancements.
4
Developing and executing a comprehensive change-management, communication and training strategy.
Benefits to client
KPMG helped this client plan and execute a wide-ranging Workday cloud system that transformed its HR capabilities and delivered a world-class, mobile-enabled experience to employees and managers. Results have included:
1
A more scalable and sustainable HR model.
2
Increased alignment between HR and business objectives.
3
Increased HR effectiveness through real-time insights, custom dashboards and analytics.
4
Decreased cost of ownership for ongoing administration and maintenance of HR systems and service delivery.
5
Increased automation by enabling the core HR system, Workday, to communicate seamlessly with downstream systems.
6
Enthusiastic end-user adoption and successful cut-over between systems while maintaining more than 99 percent payroll accuracy.
KPMG Insights
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See the art of the possible
Take the long view, define your objectives well, understand the tangible benefits that automation can deliver, investigate the available tools, create a robust plan, and envision your operations several years in the future.
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Adapt the strategy to your needs
Every company is different, and groups within companies have different needs. Adapt your automation strategies to fit your organization’s unique needs, opportunities and challenges, and appetite for change.
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Stay nimble
Automation is a rapidly changing capability, and companies should continually look around the next bend in the road to stay up-to-date with new methodologies and technologies. This could include monitoring where venture capitalists are investing, participating in conferences and other events, and learning from other companies.
Meet the team
Evan Metter
Principal, Human Capital Advisory, KPMG US
Evan Metter
Principal, Human Capital Advisory, KPMG US
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