Organisations and businesses of all types are looking for the game changer: a way of boosting output while keeping their costs down.
Firms complain that the big banks, intent on restoring their balance sheets, are not fulfilling their usual role of lending to businesses. For their part, the banks now have a Government mulling over lending market restructuring, with potentially much greater competition for the 'big five.' In such unpromising conditions, what practical steps could Britain's managers take to mobilise their employees and improve their prospects?
In a flat economy, organisations know they must drive down costs, and find ways to maintain market share. Overworked and under-resourced, UK firms have much to do to boost efficiency, make best use of employees' time and rethink the way they can compete. However, despite the raft of communications investments they have made, many small firms struggle to integrate them to enable employees work flexibly - at home, in the office or on the move. In fact, the Bank of England has said that the productivity of employees has been slower to recover from the last recession than in any of the previous 13 downturns.
Breakthroughs are possible for small firms. Business tools such as unified communications (UC) that were once the domain of big firms allow owner-managers to manage their workforce, external communication, and internal collaboration far more effectively. These tools bring multiple communication channels - telephone, Internet, email, instant messaging and social media - into one place.
Since UC also indicates the work or communication status for each member of staff, small firms and microbusiness can streamline operations - saving wasted phone calls and time drained away by rearranging diary and administration needs. These improvements are in themselves small but viewed across the whole workforce, represent proportionately big operational savings. For service firms like design or architects' practices, personnel can swap work between consultants in different locations or time zones: these tools enable or 'mobilise' employees, whether they work in the office, at home or on the move.
For the banks, aside of facing their continuing barrage of criticism, they face constant pressure to deliver 'more with less' while rebuilding customer trust. They face an arduous task: a recent YouGov survey, found only 53% of consumers trust banks and building societies.
Worse could follow with the Coalition committing in principle to new, 'challenger' banks to boost consumer choice. While analysts note that some new financial providers will build a high street presence, others, follow the 'multi-channel', 24-7 access models. These services would be accessible through online and mobile channels and team operations driven by collaboration between 'virtual' teams in disparate locations.
Aside of senior management reorganising service offerings, Britain's banks will need to immediately refocus customer service. In the short term at least, poor customer perceptions will be most likely shifted by outstanding service in the high street branch or by telephone, or online. This will come from employees who are allowed to concentrate completely on customer needs. Banks will make this breakthrough by using large scale technology platforms like UC that enable employees to work effectively. This will bring about a motivated and flexible workforce - and ensure optimum productivity.
Of course, banks have made skillful use of 24/7 online or telephone-based services. The difference is that with the latest UC platforms, employees based in any location can weave together face-to-face meetings with team collaborations and creative tasks. These tools also help customer service departments respond better to 24/7 communication from customers: contact centres can route calls on particular services or issues to suitably trained staff. Customer service departments can use specific functions within UC to monitor social media for Tweeted complaints about a product and contact the disgruntled user directly.
These tools enable financial service providers to deliver unified and responsive customer service. However, most tellingly of all, employees can work in different ways, or in various locations using computing devices they are comfortable with. Moreover, the rise of cloud computing - one of the big buzz words in IT - will see financial providers 'switching on' extra staff to their corporate network, multiplying the power of flexible working and ultimately, reducing required office space and eventually, entire property estates.
With companies streamlining their service and banks able to deliver much more with less, not only will customer service be improved, these very different organisations will also be making a small but practical contribution to moving the country on from its current economic standstill.
Rob Keenan, head of UK portfolio management, deployment readiness management, Siemens Enterprise Communications
