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CH&Cie - Offshoring offer - Teaser

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Offshoring of support functions in CIB: key takeaways and high-level approach

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CH&Cie - Offshoring offer - Teaser

  1. 1. Offshoring Relocation opportunity study, execution and oversight Stephanie Baruk sbaruk@chappuishalder.com
  2. 2. AGENDA 1 2 3 4 Business Drivers of an Offshoring Program High level approach Key Challenges and Success Factors Appendix: Focus on the methodology
  3. 3. BenefitsBusiness drivers  Reduce significantly salaries (up to 55% depending on location) and premises costs (up to 60% depending  on location)  Being granted with specific Tax incentives   Achieve economies of scale Cost reduction1 Business Drivers of an Off-shoring Program  Take advantage of the program to homogenize and standardize processes in both locations  Improve efficiency of the processes  and redeploy workforce in onshore location Process standardization  and improvement 2  Focus on core competencies in the onshore location: retained staff focus on “value‐add” activities  Establish or reinforce a local presence  Implement a “multi‐tasking” resources pool and create synergies in the offshore location  Create a shared services center able to assist several countries & business lines and more flexible/ agile if  volumes increase Optimization of competencies 3  Set up a “Follow The Sun” organization with overnight coverage  Comply with specific BCP requirements (According to the FED US bond settlements activity has to be able to  settle, clear & close out from a location >100 miles from the main processing center)  Ensure constant back up and full business continuity Coverage extension4 3
  4. 4. Partial off/near  shoring potential  Partial off/near  shoring potential  Off/near shoring potential  Overview of Functions Potentially Transferrable within an Operations Department Sensitivity vs. Proximity matrix Methodology used Based on this analysis teams are identified as fully or partially near/off-shorable 10%0% 30%20% 50%40% 70%60% 90%80% 100% 10% 0% 30% 20% 50% 40% 70% 60% 90% 80% 100% Sensitivity Proximity Sensitivity Proximity Team were categorized according to several aspects indicating  proximity needs:  Client facing  Physical proximity  Shared time‐zone  Language skills  Cultural Proximity 4 Teams were categorized according to several aspects indicating  business sensitivity:  Legal/regulatory restriction  Specific stakeholders requirements  Specific staff skill requirement/labor market offering at off/near‐ shoring location  Application sensitivity  Operational risk level  Complexity of tasks Capital Market Ops Corporate Banking Ops
  5. 5. AGENDA 1 2 3 4 Business Drivers of an Offshoring Program High level approach Key Challenges and Success Factors Appendix: Focus on the methodology
  6. 6. High Level Approach of an Off-shoring Program 6 Business Case  Target location choice  Near vs. Off location  Pool of resources availability  (specific expertise…)  Savings (base salaries, premises, tax  incentives…)  Expected savings & ROI  Cost reduction target  Return on Investment  Strategy definition  Global vs. Regional  Coverage strategy (Same time zone  vs. worldwide coverage: ”Follow The  Sun”)  Hub/ Regionalization  Number of waves to be  implemented  Affected perimeter 1 6 weeks* Transfer Opportunities Study  Identification of transfer  constraints  Operational risks (process stability,  automation level, function  sensitivity)  Specific expertise required and  related recruitment issues  Critical size  Regulatory constraints  Proximity needs with other  units/departments or clients  Business case validation  Synthesis of the functions to be  transferred  Scenario building and target set up  choice: • Functions to transfer • Choice between near shoring or  offshoring • Estimation of the overlap period  required • Calculation of the project costs and  related savings  Definition of different  Implementation phases 2 3‐4 months* Implementation Follow‐up,  Optimization & Oversight  HR strategy definition  Onshore location: retention of top  performers  Offshore location: assessment of the  staff turnover and identification of  retention strategy  HR policy review (Holiday policy…)  TOM optimization   Improvement of communication  between off shore and on shore  location  Workload optimization: as‐is  analysis and identification of  opportunities for process  improvements  Workflows and systems  enhancement  Optimization of synergies in both on  and offshore locations  Performance monitoring  Satisfaction study: evaluation of  team performance on a regular basis  and identification of potential issues  , quick wins and long term  remediation actions  Define the escalation process  Track the realization of the business  case 4 >>> Execution/Transition  Phase  Target organization  Definition of Target Operating Model  (Governance, org. charts, P&P, SLAs…)  Definition of TOM KPIs  Project Management  Project Monitoring  Savings & costs monitoring  External & internal communication  Dedicated meetings with  affected staff, HR  & Managers (and design of RIF matrix)  Press release  Recruitment  Posting of job offers (internal & external)  Hiring process (rounds of interviews, final  approver ...)  Regional organization charts (solid vs.  doted reporting lines)  On‐boarding  Task force set‐up including Logistics, BCP,  IT, Security and HR  Training  Definition of a training plan for each  department (e.g. specific content, active/  passive shadowing) & training material 3 1 year* * Timing for information only as it may vary depending on the project’ scope
  7. 7. AGENDA 1 2 3 4 Business Drivers of an Offshoring Program High level approach Key Challenges and Success Factors Appendix: Focus on the methodology
  8. 8. Key challenges and success factors Business Case 8 Key Success Factors identified and proposed by CH&CieChallenges Shortfalls  Deeply analyze key indicators of the country: staff cost, O&P cost  political stability, level of workforce education, languages spoken,  quality of infrastructures, difficulty to travel (visa…)  Have a good overview of regulatory and legal constraints   Analyze work market depth  List the key competencies and specific required expertise Target  location choice • Difficulty in finding candidates with desirable  background and skills • Salaries ending up higher than expected • Legal issues due to cultural differences (max.  working hours…) • Additional constraints due to very high data  protection (Singapore) • Training issue due to specific visa requirements Business Case 1 Transfer Opportunities Study 2 Execution/Transition  Phase 3 Implementation Follow‐up,  Optimization & Oversight 4  Ensure that offshoring strategy to be established is a real leaver  of the whole business strategy  Have a very clear overview of the offshoring strategy to be  implemented Strategy assessment • Offshoring strategy not in line with overall  business approach • Lack of clear strategy overview  Ensure a proper current state assessment  Define appropriate performance measures  Assess qualitative & quantitative benefits  Check the organization “readiness “ Feasibility study • Organization which is not ready to support a  significant transformation initiative A B C
  9. 9. Key challenges and success factors Transfer Opportunities Study 9 Business Case 1 Transfer Opportunities Study 2 Execution/Transition  Phase 3 Implementation Follow‐up,  Optimization & Oversight 4 Key Success Factors identified and proposed by CH&CieChallenges Shortfalls  Spend time to design the overall target operating model and get the  buy‐in of all key stakeholders   Take advantage of time zone differences (‘Follow The Sun’)  Push end‐to‐end processes instead of tasks Consistency and  efficiency of the target  operating model • Offshore teams performing a multitude of  micro‐tasks with no connection between them  • Onshore teams placing orders on a ad‐hoc basis   to offshore teams  Communicate only with Heads of department and middle mgmt  until the transfer opportunities are identified and validated  On‐board team leaders at the beginning of the project and  implement follow‐up on a regular basis Confidentiality and  Communication • Resistance and lack of cooperation from Middle  Management  Analyze the existing process entirely to identify potential  stickiness with other departments  Ensure critical size is reached for each unit, global consistency  and leverage on potential synergies among transferred units Transfer opportunities  identification • Constraints not properly identified A B C
  10. 10. Key challenges and success factors Execution/Transition Phase 10 Business Case 1 Transfer Opportunities Study 2 Execution/Transition  Phase 3 Implementation Follow‐up,  Optimization & Oversight 4 Key Success Factors identified and proposed by CH&CieChallenges Shortfalls  Explain the various stages of the governance model  Communicate the criteria to move from one step to another  Establish clear RACI and kill potential redundancies Process ownership &  understanding of the  new organization • A‐team vs. B‐team syndrome creating de‐ motivation • Difficulty to apprehend who is in charge of what • Offshore teams perceived as a separate entity B  Draft transition check‐list for communication between teams  Test the readiness of IT systems and assess the quality of the  process documentation early in  the project   Design a transversal training plan Transitioning processes  without compromising  on risks • Delays in the roadmap due to unforeseen logistical  issues (visa, space planning, IT connectivity…) • Lack of documentation & training materials C  Build brand awareness through corporate events (buzz)  Invest in premises and quality of the working environment  Secure a pool of ‘multi‐tasking’ resources Recruiting & retaining  CIB‐skilled resources • Limited brand image in the local market to attract  talents • Inappropriate planning of the recruitments leading  to delays in the roadmap D  Structure with HR a well‐structured, open mobility plan and  anticipate/preempt open positions in advance  Explain what is going to happen and how you plan to handle it Changing mindset • Senior executive delivering  conflicting messages • Fear of losing the job and inability to call into  question (acquisition of new skills) E  Negotiation and dialogue with working councils and adaptation of  the communication plan  Focus change management efforts on middle managers / team  leaders Keeping the  communication under  control • Project going public unexpectedly, reputation &  media  risks not anticipated F  Monitor dependencies with other projects  Define a unique sponsor to ensure the lead of the project  Set up a project structure with frequent committees,  comprehensive project tools & an escalation process to ensure  alerts are quickly identified Suitable governance • All dimensions of the project (process,  organization, time, cost, HR, communication, IS,  etc.) not properly monitored • Issues not escalated A
  11. 11. Key challenges and success factors Implementation Follow-up, Optimization & Oversight 11 Business Case 1 Transfer Opportunities Study 2 Execution/Transition  Phase 3 Implementation Follow‐up,  Optimization & Oversight 4 Key Success Factors identified and proposed by CH&CieChallenges Shortfalls  Plan in the project a reorganization of onshore and offshore teams  after the transfers (optimization phase)  Strengthen the headcount monitoring process globally  Agree on conversion ratio (Offshoring In – Productivity Gain)  and  monitor their evolution over time (underlying action plan) Delivering the business  case ROI • Return On Investment not delivered in many  cases • Late detection of hidden project costs • Underestimation of exit costs • Project changes (de‐scoping) not factored in A  Assess teams performance on a regular basis (off shore location)  Ensure that off shore location set‐up is fully up & running (no  duplicated tasks between locations or tasks still performed by on  shore site) Assessment of strategy  effectiveness • Under performance compared to initial  expectation • Poor level of services quality (complaints from  clients) • Onshore set‐up overwhelmed due to partial  take over from new platform C  Review on shore and off shore HR strategy (retention packages,  review of working conditions if conflict with local culture…) Appropriate  HR Strategy • High turnover in off shore location (cultural  issue…) • Resignation of high potential staff in on shore  location B
  12. 12. AGENDA 1 2 3 4 Business Drivers of an Offshoring Program High level approach Key Challenges and Success Factors Appendix: Focus on the methodology

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