Talk: Agile as the driver for cultural change in BOI
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Speaker:
Michael Connor
Talk description
Title:
Agile as the driver for cultural change in BOI
Short synopsis:
A joint presentation from Bank of Ireland and JCURV describing the positive impact of the Agile working and cultural transformation launched and embedded into the Bank of Ireland business.
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Long synopsis (optional):
Note before: At the conference we would be joined by the BOI Transformation Lead and the BOI HR Director, who will provide the internal BOI experience to supplement the detail below, as well as share the lessons BOI gained from the transformation. The following provides an overview of the approach taken in the transformation and the structure the talk would follow: BOI context - Bank of Ireland (BOI) are primarily known in the UK as the Partnership Bank. They provide simple, flexible, financial services to customers both directly and through partnerships with well-known UK brands. Drivers for change - Facing a number of challenging headwinds, from changing consumer needs and new competitors, through to increasing regulation and technology demands, the BOI leadership team were aware that they needed to adapt. - From a history of being slow to respond to change, with reducing levels of colleague engagement and retention, and the challenge of legacy systems and processes, it was felt that they needed to approach things differently. JCURV and the transformation - Having established a clear need for change as well as requiring a new way of doing things, Bank of Ireland reached out to JCURV to support them in creating the right approach and framework to deliver three key transformation objectives: 1. Customer and Commercial impact: - To increase the speed, efficiency and effectiveness in delivery of both new, and improvements to existing product, propositions and services to the market - Whist putting the customer firmly at the heart of the business 2. Increase People engagement: - Improve colleague engagement scores acting on internal feedback 3. Create a sustainable improvement: - Build internal capability and approaches to sustain this new way of working JCURV’s approach To support BOI achieve its ambitious objectives, we took a four step approach to Agile ways of working: 1. We established a Clear and Safe environment for teams to operate in We started from the Executive Committee, educating them around Agile ways of working and helping them to define a set of principles and behaviours they would commit to role modelling as well as encouraging their teams to embrace. This created a safe environment for the broader organisation to operate in. 2. Established cross-functional, full time, co-located teams: Four outcome areas were identified where Agile would be applied testing the organisations ability to stand-up full time teams and ensure we don’t overload the business with change 3. Iterated at both at team and leadership level: We introduced a Leadership team reporting cadence with weekly stand-ups (The CEO attended the weekly stand-ups with the Product owners) and ran monthly Reviews and Retrospectives Embedded sustainability: We helped sustain the changes through building capability at all levels, establishing communities of practices for POs and Scrum masters, addressing enterprise-wide impediments and building internal ownership of this way of working via Agile working communities and learning hubs. Results The results achieved from the transformation were a real step change in BOI’s delivery, with some of the key highlights: - Doubled customer switching within 9 months - Delivered new propositions to market within 4 months (down from 18) - Customer, colleague and broker communities now established - Over £300k saved in efficiencies - Saw a 30% reduction in FTE – c£1m in salary saved - Increased staff engagement by 30% over 6 months The future… sustainable success Having supported the transformation for 6 months, JCURV has stepped back from direct support as the capability and skills have been embedded into the business, with the approach now organically growing as the organisation becomes more mature.
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