Situation
Against a backdrop of fast-moving workforce challenges, a financial services client engaged PwC to provide a comprehensive assessment of their workforce strategy to help identify the manpower requirements that meet the future needs of the organisation. The engagement focused on the future skills that would be needed across the entire organisation and a plan to develop those skills through training and/or hiring, and sustaining this new workforce through a high functioning HR department.
Solution
PwC conducted an enterprise-wide assessment of manpower skills and capacity against the client’s business plan. Using PwC’s Workforce of the Future framework and the insights of our four forces study, PwC then worked with the client to refine its organisation structure, challenging assumptions along the way, and reimagine a solution that would not only be aligned with its business strategy but also agile enough to respond to future trends in its operating environment. From this, PwC and the client were able to co-create a future-focused manpower optimisation plan to navigate from current to future-state, and a roadmap with the recommendations to be implemented on a phased basis.
Impact
Having collaborated with the client to thoroughly and holistically examine the workforce challenges they were facing, we developed and supported execution of a robust plan which not only created clarity for their Human Resources function but also set the organisation on solid ground to deliver their business strategy. Despite the changes that the client’s employees would undergo, the workforce was unified through alignment of their roles to the strategy and deeper understanding of the interconnectedness of their roles to achieve collective success. The engagement also provided the added benefit of altering the way in which the client approaches future analyses, using more scenario-based and dynamic-planning approaches which has been shown to positively impact outcomes.
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