The market evolution forces organizations to adapt to new paradigms in order to thrive. Change is always challenging but is also a great opportunity to rethink our purpose in the world. This is where our next story takes place.
DEFINING
THE CHALLENGE
Giving voice to values and culture
Since its foundation in the XIX century, this Portuguese financial institution was established as a unique player on the national landscape, providing universal financial services to individuals and businesses based locally, regionally, and nationally.
A few years ago, the institution was transformed into a public limited liability company, which marks the amendment of its bylaws and related governance model. This new cycle contains an effective commitment toward efficiency, operational profitability, and adjustment of the business model to the most modern and demanding forms of relationship with customers.
Bearing this in mind, the company challenged pur’ple to design a resizing program prepared to align their workforce with the new business needs. But there was a big precondition on the table: create a solution that reflects their DNA of proximity to people and of deep commitment to a culture of well-being.
shaping a solution
together
Aligning individual and corporate purpose
The framework was clear. After some prework together with the client, pur’ple developed a solution that made a profound paradigm shift, aligning corporate to individual purposes. And how did we deliver?
Phase 1 | Best international practices
Based on a solid international benchmark and on concrete workforce resizing business cases, we co-created with the client an integrated solution with the clear purpose of combining the people real needs and the organization strategy.
Phase 2 | Fit to diversity
Aware of the workforce diversity at all levels, we translated our solution into a program that supported people in their quest to find and pursue their individual purpose, whether inside or outside the organization. Reducing working hours, dedicating time to social causes or encouraging entrepreneurship are some examples of initiatives that have allowed the institution to:
1) Enrich its employee value proposition
2) Purposefully and sustainably resize the workforce
This innovative approach to workforce planning enabled the organization to focus efforts on a range of options suitable to every moment of the employee lifecycle, bringing professional and personal fulfillment to the equation.
reaching impactful
results
Deeply committed to a mission
Words such as resizing, and restructuring may sometimes cause a less positive impact. This was not the case. The program developed by pur’ple was very well received by the entire organization - including workers' commissions - and the design of the processes to support its implementation was immediate.
Known as a ‘bank of relationships’, with this project, the institution was able to address its mission to enhance people and talent as critical factors of sustainable growth and long-term success.