Rationalization and Workforce Automation – NIS Management Limited
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Rationalization and Workforce Automation
Problem
- Navigating Challenges in Strategic Manpower Transfer.
- Challenges in Cost Optimization.
- Post-retirement challenges posed as an issue.
- Challenges in Motivating Entrepreneurial Initiatives.
- Structuring the Voluntary Retirement Program was another problem.
Solution
- Transfer and relocation of personnel from areas of staff redundancy to locations of staff shortage was implemented.
- Smaller branches consolidated under unified Branch Heads, forming satellite branches.
- Departments merged under shared Heads of Department. IT integrated into CMD office operations.
- Core Committee fosters ongoing communication, stressing rationalization for uninterrupted operations.
- Town hall-style online meetings involve all staff in discussing and introducing the NIS Way Forward Program.
Outcomes
- The core-to-associate ratio significantly improved cause of this rationalization & automation project.
- The ratio improved from 1:50 (FY 2020) to 1:121(Current).
- Optimize indirect personnel costs through strategic measures.
- There was a significant improvement in monthly indirect costs from Rs 72,22,661 (FY 2020) to Rs 49,77,532 (Current).
- Automation was implemented to ensure seamless support for client servicing processes. CSF score improved from 3.96 (FY 2022) to 4.36 (Current).
SKOCH Award Nominee
Category: Digital Transformation
Sub-Category: Business Process Transformation
Project: Rationalization and Workforce Automation
Start Date: 3-01-2020
Organisation: NIS Management Limited
Respondent: Debajit Choudhury
https://nis.co.in/
Level: Club
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For more information, please contact:
Debajit Choudhury at dc@nis.co.in
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