Banks, insurance and financial services firms continue to endure change at a rapid pace. Facing increasing product complexity, unprecedented market instability, ever more exacting regulation coupled with pressure from senior management to cut costs, while providing more effective advice and service to customer and clients will start to take its toll on talent.
The overall industry will likely see a reduction in the pool of available profits, which makes competitive advantages of any kind all the more important. To counter these changes financial service firms must become attractive workplaces and need to engage their employees to prevent high turnover, spark innovation and drive productivity. In the face of this change, TalentMap is helping its clients ask and answer the following questions:
The overall industry will likely see a reduction in the pool of available profits, which makes competitive advantages of any kind all the more important. To counter these changes financial service firms must become attractive workplaces and need to engage their employees to prevent high turnover, spark innovation and drive productivity. In the face of this change, TalentMap is helping its clients ask and answer the following questions:
- How engaged are your employees?
- How effective is your culture?
- What are the most powerful drivers of engagement in your organization?
- Where should you focus your workplace improvements?
- Financial Services
- Insurance Companies
- Investment Management
Financial Institutions
A large non-bank lender
This client has been a TalentMap client since 2011. Recognizing its need for some objective and actionable feedback and data on its employee engagement situation, they opted for the TalentGage Classic solution. This allowed them to use a highly cost-effective approach and to get a feel for what, if anything, might be good to add or modify for future years. After collecting data from over 500 respondents, the client received its reports. Having greatly appreciated their content, they opted to dig even deeper and request special Executive Business Unit reports to have an in depth look at the various division and functional groups that they felt needed more attention. We hope to continue this trend of improvement for the future with them.
Large publicly-traded bank
Originally a client in 2008, they opted to come back to us in 2010 for their onboarding and exiting analyses. TalentMap thus integrated our custom TalentExit and TalentEntry systems to monitor what employees' initial impressions are and compare them to the reasons employees are leaving. This gave them the ability to understand the changing perceptions within their workforce and how this was changing year over year. We look forward to working with them in 2012 with ever-improving reporting and surveying techniques.
Insurance Companies
Long-standing, large insurance company (ongoing since 2008)
TalentMap has been conducting an engagement survey for the client since 2008. The survey is administered to 1700 IT employees within the organization. TalentMap helped design and deploy the online survey, collected, analyzed and presented the results to the client's senior executive team. An overall executive powerpoint presentation is prepared along with detailed snapshot reports. The survey results are being used to drive positive change within the organization’s IT business unit.
Medium insurance cooperative
The client's employee engagement survey was an important component of an organizational wide transformation process. The measurements and metrics were key to understanding what needed to change and also how effective were the changes to date. TalentMap spent time with the HR survey team to help prepare the overall organization for the survey and the feedback that would result. It was important that the organization not be paralyzed by the feedback but rather be ready to act and to follow through on the process. Given the complex and diverse nature of the business, employee demographic information was very important to ensure that the survey results could be targeted to very specific groups within the organization. Following the delivery of the survey TalentMap’s efforts were focused on training and building understanding and knowledge deep within the organization around employee engagement and Foresters results. This ensured that change and improvement could happen at all levels within the organization and not just at the senior management level.
Investment Management
A leading investment management firm
TalentMap worked with he client to deliver their employee engagement survey in transition from another vendor. Survey design and mapping was an important first step along with a concentrated effort to on-board senior management to the importance and purpose of the survey. The survey was deployed across the organization and the results provided clear hot spots and opportunities to improve employee engagement within the workplace. TalentMap worked in three steps with the client. The first was to further clarify the results on key topics with a set of employee focus groups. These results along with the survey data, were brought to an executive level planning session that TalentMap facilitated to clarify direction and establish accountability. Finally, TalentMap supported a comprehensive communication process back to employees to present the findings, manage their expectation and set a timeline for change.
Large investment fund manager
A new client for 2011, they came to us looking for the tools to understand their rapidly shifting workplace and its effects on their employees. Thus, as they had a good idea of what they were looking to measure, TalentMap utilized its TalentGage + tool to give them the advantages of our knowledge and benchmarking, while still offering some flexibility in the questionnaire itself. After analyzing the over 250 responses, TalentMap presented the results to their executive team. The reporting was so well-received, the client decided to request various alternate reports in an effort to get a better understanding of certain areas within the company. TalentMap is looking forward to helping them develop a plan for the new year.