Productivity cited as top priority for GBS leaders in 2024

A recent study conducted by Zinnov, in partnership with ProHance, emphasises the critical importance of implementing robust productivity frameworks for Global Business Services (GBS) leaders.

The study, undertaken in the context of ongoing economic challenges, underscores the necessity of such frameworks not only to endure financial pressures but also to foster sustainable growth.

GBS organisations are currently facing a multifaceted landscape characterised by economic instability, difficulties in talent retention, and rapid technological progress. The study reveals that 53 percent of GBS leaders view productivity enhancement as their foremost priority for 2024. This priority is fueled by the need to enhance operational efficiency and drive innovation in light of persistent economic challenges.

The volatile economic environment, marked by inflation, geopolitical risks, and supply chain disruptions, has escalated the pressure on GBS organisations to deliver cost efficiencies. The Zinnov-ProHance study indicates that a data-driven approach to productivity management is not only desirable but essential. With over half of the leaders citing limited access to reliable data as a critical barrier, there is a pressing need for comprehensive visibility and actionable insights to optimise operations and sufficiently impact the bottom line.

This study guides GBS leaders in leveraging productivity as a key mechanism to navigate these challenges, offering a roadmap to sustainably improve productivity. The focus is on transforming data into actionable intelligence across people, processes, and technology—a holistic approach that enhances immediate productivity gains and fosters a culture of continuous improvement, positioning GBS organisations as strategic enablers within their parent firms.

One of the key strategies highlighted in the study involves a three-step approach: visibility, interventions, and change management. Firstly, comprehensive visibility into workforce data is essential. Utilising advanced analytics tools to capture and visualise performance metrics can help GBS leaders identify bottlenecks and areas needing improvement.

Secondly, targeted interventions, ranging from optimising resource allocation and task prioritisation to integrating automation and AI technologies, can enhance both short-term productivity and long-term operational resilience. Lastly, effective change management is crucial for the success of any productivity initiative.

Real-world case studies within the study demonstrate significant productivity gains achieved by various organisations. Early-stage organisations have reported up to a 20 percent improvement in productivity levels by adopting a framework-led approach. This framework assists organisations in systematically identifying pain points and implementing targeted interventions.

Karthik Padmanabhan, Managing Partner at Zinnov, remarked, "Today, the pursuit of productivity extends beyond just deploying advanced tools – it requires a cohesive, framework-led approach. With 52% of leaders citing limited access to reliable data as a major barrier, and productivity dropping by 15% after eight hours of work, it's clear that sustainable productivity is not just about working harder, but smarter. By setting realistic targets and KPIs, the Zinnov-ProHance approach helps move 19% of employees into high productivity zones within six months, driving impactful change across people, processes, and technology."

ProHance's CEO, Ankur Dhingra, added, "Driving the productivity agenda within GBS demands a robust measurement system. The enterprise productivity landscape is increasingly complex and cluttered with various technologies such as Generative AI, RPA, and Process Discovery. However, the impact of these technologies on optimising investments in human capital often remains unclear. ProHance offers a comprehensive understanding of work patterns and their influence on efficiency and productivity."

"This study, grounded in first principles, provides accurate measurement and presents an alternative perspective, enabling GBS organisations to cut through the noise and focus on the true drivers of sustainable productivity."

The study concludes that embracing a productivity framework encompassing advanced analytics, targeted interventions, and strategic change management is the way forward for GBS leaders. This approach is seen as crucial for navigating the complexities of the current business environment and unlocking sustainable growth.