WorkJam’s digital workplace provides business operating in the financial services sector with the tools they need to meet the demands of the emerging workforce through greater employee engagement
Today’s financial services organizations are facing more challenges than ever.
Increasing societal, cultural and economic forces are driving higher costs and thinner margins. At the same time, customer and employee expectations are evolving, regulations are volatile and competition is on the rise.
How can financial services organizations win?
Engaged employees. By cultivating a positive workplace experience, employers can boost employee productivity and knowledge, while cutting operational costs and improving revenues through a superior customer experience.
In short, employees have come to expect a better employee experience. They want more control and flexibility over their schedules regarding when and how many hours they work each week. They expect to be informed and connected with their employer and feel well-equipped to do their job. They want their voices to be heard and to be recognized and rewarded for their achievements.
How does the WorkJam Digital Workforce benefit each area of the Financial Services Organization?
The WorkJam mobile and web platform extends existing workforce management systems (WFM) and enables employers to develop, empower, and engage their frontlines. The platform enables employees to manage their work life with intuitive resources like schedule management, task management, messaging, development, and training. With WorkJam, retailers can improve retention rates, align employees with business goals, reduce operational costs and drive customer experience to new heights.
It’s estimated that 51% of employees are actively looking for a new job or watching for new job openings. High turnover and absenteeism impact productivity and payroll. In a shallow labor pool, employers need to understand how to empower their employees to manage their own work-life balance and in turn build employee engagement. It has been proven that employees who are engaged significantly outperform those who are not engaged
A majority of financial services employees currently communicate scheduling changes to managers face-to-face. Precious time is lost by managers everyday due to inefficient staffing processes. Managers need better self-service tools for their employees so they can focus on supporting their employees and customer service initiatives.
Labor costs are rising dramatically and public policy continues to evolve. It’s increasingly important for financial services operations to be able to adapt to changing labor demands while meeting all policy requirements.
Consumers who switch banks do so primarily because of poor customer service. By implementing a digital communication strategy, banks and other financial institutions can ensure employees are aligned with both corporate goals and company vision.
Training and Onboarding.
As industry competition intensifies, financial firms struggle to make time for comprehensive training initiatives that are necessary for a highly-personalized customer experience. In fact, one study shows that nearly a majority of workers say that training and development are the most important assets related to workplace policy.