When a leading financial services firm was going through a separation from its parent company, it faced a number of critical challenges.
As part of the business change, the firm needed to:
- Implement a new human resource information system (HRIS).
- Onboard a new human resources team.
- Design HR processes to gain greater efficiency and manage risk.
- Align HR resources to corporate strategy.
These optimizations added up to a firmwide HR transformation from top to bottom.
CrossCountry Consulting was engaged to perform and complete this project because of its deep experience in the financial services sector and its team of HR subject matter experts.
CrossCountry took a methodical, multidimensional approach to optimizing the HR function. We deployed a team to analyze and understand the challenges the firm faced as it migrated from its parent company, its plans for growth and transformation, and the support model HR would need to put in place in order to enable that growth. Our team did this in close partnership with the client’s Chief Human Resources Officer and key HR process owners and stakeholders throughout the firm.
Our HR experts leveraged decades of experience in:
- Talent acquisition.
- Benefits management.
- HRIS deployment.
- HR risk management.
- Operating model design.
In total, we reviewed more than 150 HR processes to offer a suite of recommendations to:
- Create new efficiencies.
- Enhance customer service for employees.
- Implement best practices.
- Streamline approval processes.
- Ensure proper controls, approvals, and segregation of duties.
We also developed a series of optimizations and documentation to present to the CEO and COO for executive buy-in, including a:
- 3-year strategic roadmap.
- Budget that meets future-state business objectives.
- New HR operating model.
With buy-in secured and our plans implemented, the client was able to complete its separation from the parent company and continue on its path toward an HR function that can meet the firm’s future-state needs.