Optimizing Bench Workforce with Strategic Upskilling and Reskilling

The client is a multinational professional services partnership headquartered in London and is considered one of the Big Four accounting firms. They primarily provides assurance which includes financial audit, tax, consulting and advisory services to their clients. Like many of the larger accounting firms in recent years, they have expanded into markets adjacent to accounting, including strategy, operations, HR, technology, and financial services consulting. With the client rapidly expanding their services, they needed to move their employees who were on bench for long time for reskilling and project allocation. Thus, they needed a strategic partner who would help identify precise reskilling needs for each employee and chart development plans that would contribute towards achieving their tech transformation goals.
 

What was the client trying to solve?

The client’s increasing presence and goals to stay ahead of the technology curve mandated finding ways to improve its tech processes continually. While they had clarity on their upskilling goals, translating them to sustainable actionable strategy was taxing. This meant that needed assessment for specific tech domain and competencies to determine the extent to which the employees needed to be developed further. As a result, they needed a strategic partner that could employ innovation to deal with the following:
  • Insights for L&D: They wanted to focus on evaluating strengths and weakness of their benched workforce, create training and development plans to nurture and strengthen them. The technology-based platform had to exceed the current industry standards of evaluation, expecting the platform to offer accurate and detailed reports to understand their employees’ skill-sets.
  • Understanding organization-wide skill gaps: The client also wanted to analyze the current skill sets internally assigned to job roles and assess employees’ positions with regards to those roles. They needed to revisit pre-defined skill repositories while gauging how many employees possessed those skills and to what extent.
  • Proctoring solutions with anti-cheating features: The client also needed a reliable and secure proctoring solution to conduct fair assessments at a large scale. This was keeping in line with the organisation’s zero-tolerance policy for any kind of plagiarism and cheating.
  • Eliminating 90-degree feedback loop: 90-degree feedback sessions to one-on-one sessions that helped managers identify areas of improvement and measure progress. The client wanted to expand of the scope of the feedback mechanism by moving beyond these traditional methods.

" We used Yaksha’s assessments to build a company-wide competency matrix. This helped us evaluate our employees’ skills objectively and allowed for fair appraisals. The impact of these assessments and how they have transformed our appraisal cycles. "

– HR Manager