Sixteen months ago, when MUFG Investor Services implemented Tempus Resource, Brian DeMaria, Director of Corporate Planning, already knew why “the wave” mattered for his company’s people and finances. In his presentation at the Tempus Resource 2020 Virtual Conference, Mr. DeMaria honed in on how seasonality—or the waves of business activities and work trends—can be understood for its impact on longevity, productivity, time effectiveness, and cost savings.
Mr. DeMaria recounted MUFG’s adoption of Tempus Resource, which the organization implemented sixteen months ago. With over 50,000 time entries and 800,000 hours of work, MUFG used Tempus to gather vast amounts of data with various analysis techniques.
Their use case included a single business line and four different business titles, and their goals included standardizing processes, automating functions, and drawing closer to clients to improve service. All the while, they monitored KPIs, cost savings, customer satisfaction, and ROI.
In essence, what MUFG did was follow Mr. DeMaria’s 6-step method for “how to catch the wave.” It begins with gathering data with a system like Tempus and knowing which variables you want to measure. In MUFG’s case, it was HR data—resources’ skills, knowledge, location, rank, exempt/nonexempt status, etc. When collecting data, it’s also crucial to have a clearly defined scope to avoid data paralysis.
The second step is analyzing all your data and mining for useful statistics and facts. Analysis should target “one wave at a time” and avoid taking on too much and risking errors or bad assumptions. Next, with your business and strategy in mind, is choosing your solution. Armed with KPIs and measures for success, it’s time to turn the solution into a project, present the plan to stakeholders, and gain approval and buy-in. For the duration of work, choose a cadence for regular monitoring, comparing plans vs. actuals and using quantitative and qualitative measures. Finally, deciding whether to continue or change course comes in the evaluation phase, where you validate your successes and decide on next steps.
“The wave is always there,” Mr. DeMaria concluded. This method of using Tempus data and reports is one way to achieve results and better serve employees.
We’re grateful to Bryan DeMaria for his detailed presentation and invite you to watch it in full below: