Background:
The investment sector in Saudi Arabia is evolving rapidly, requiring companies to adopt effective strategies for workforce management. A prominent investment company approached us to conduct a comprehensive workload analysis to optimize its resource allocation, align with business goals, and plan for future growth.
Objectives:
The primary objectives of this project were:
- To analyze the current workload distribution across the company.
- To identify areas requiring workload optimization and recommend appropriate resource allocation.
- To develop a workforce plan to support the company’s strategic vision for the next three years.
Challenges:
1. Workload Distribution: Ensuring that the existing workforce is appropriately allocated to meet current and future business demands.
2. Process and Technology Utilization: Identifying gaps in existing processes and technology utilization affecting workload efficiency.
3. Workforce Planning: Estimating the right number of employees (FTEs) required to handle projected workload changes effectively.
Our Approach:
1. Review of Business Strategy and Current Structure:
- Conducted a thorough review of the company’s business strategy, current organizational structure, and operational processes to understand the strategic priorities and workload drivers.
- Held an initial project update meeting with the CEO to align on project objectives and expectations.
2. Data Collection:
- Prepared templates to collect detailed information on job roles, processes, technology usage, and workload distribution within the company.
- Scheduled interviews with approximately 50 staff members to gain insights into daily workload, process efficiencies, and technology utilization.
- Conducted a follow-up meeting with the CEO to review data collection progress and initial findings.
3. Workload Measurement and Analysis:
- Measured the workload across various departments to identify areas where optimization was necessary.
- Estimated the appropriate number of employees (FTEs) required to handle current and future workloads efficiently.
- Determined the optimal allocation of resources to address anticipated workload challenges.
4. Process and Technology Gap Identification:
- Identified gaps in existing processes and technology utilization that affected workload management and operational efficiency.
- Provided insights into how process enhancements and better technology adoption could improve workload distribution.
5. Workforce Planning:
- Consolidated the workforce requirements for the company, considering current and future workload projections.
- Conducted a comparison study with benchmark companies to ensure alignment with industry standards and best practices.
- Developed a comprehensive workforce and recruitment plan for the next three years, ensuring the company is well-positioned to handle growth and changing market dynamics.
6. Recommendations and Presentation:
- Developed actionable recommendations for process improvements and optimized technology utilization to support effective workload management.
- Presented the workforce recommendations and action plan to the company’s management, outlining steps for implementation and future resource planning.
Results:
The workload analysis provided the company with a clear understanding of its current resource allocation and areas requiring optimization. The detailed workforce plan developed as part of this project offered strategic guidance for recruiting, process enhancement, and technology adoption over the next three years. By aligning the workforce with the company’s business strategy, the investment company is now equipped to manage its operations more efficiently and support future growth.
Conclusion:
Tuscan Consulting's robust workload analysis approach enabled the company to identify gaps in resource allocation, process efficiency, and technology utilization. Our comprehensive workforce planning ensured that the company is prepared to meet current demands and future challenges, ultimately driving operational excellence in the investment sector.
