Financial Services | Europe & UK | 50k employees | Championed by the CHRO
The organisation is undergoing a large Future of Work transformation program (led by HR) to understand the impact of emerging technologies, including automation, across all business areas and geographies.
Understand and assess the implications of new technology implementations in terms of job supply and demand for the next 5 years, and take preventive measures to ensure the workforce is aligned to business objectives.
The client is using Faethm to explore the following categories of their workforce:
1.Talent Shortages (those impacted by automation and augmentation, using Faethm’s job impact and job corridor charts)
2.The Talent excesses (using Faethm’s jobs added chart)
3.Which roles can be up-skilled from the organization's talent excesses to their talent shortages, i.e. identifying how they can move those who are in roles that are likely to be automated into roles required for the future of their workforce (using Faethm’s jobs added chart & two-way job corridor)
4.Embedding the above results into a strategic workforce planning exercise, emphasizing the future job shortages and surplus and proposing targeted actions and guidelines to ensure the overall workforce is future ready
Utilising two instances of Faethm –
- One based on the normal organizational structure
- One based on functional units
Work is ongoing. Project outcomes have been presented to the organisation’s executive & board.
The client is further subdividing employees and developing bespoke action plans for the following four categories of roles:
- Group 1) Roles automated but high pivot score - highly skilled / high risk
- Group 2) Job safety but roles will undergo change (augmentation) - via a new hybrid skill matrix and rapid development
- Group 3) No change
- Group 4) High risk of automation but don’t have skills to move internally - what is the organisation's social responsibility (critical in understanding who can and can not move into a job shortage role)
A strategic workforce planning prototype and pilot has been created and rolled out at country scale:
- This enable the organisation to have a clear understanding of major shortages and surplus at job level over the next 5 years, mainly driven by the technologic impact.
- Several preventive actions and measures have been implemented, such as new reskilling pathways from jobs in surplus to jobs in demand, recruitment freezes, new talent sourcing initiatives, etc.