Supporting organizations going through change
International Financial Data Services (IFDS)
Assessing Where Investing in Change Management Earns the Biggest ROI
Who is International
Financial Data Services?
With its global headquarters in Toronto, Canada, International Financial Data Services (IFDS) is a world-leading provider of outsourcing and technology solutions to the financial services industry.
IFDS services over 240 financial organizations around the world, providing solutions to a wide range of global asset managers, wealth managers, banks, and insurance companies.
With over 2,000 employees and partners located throughout Canada, Europe, and Asia-Pacific, the IFDS enterprise supports more than 13.6 million accounts with AUA of CAD $2.3 trillion.
What was the challenge?
Organizations generally have a limited capacity for change;
IFDS was experiencing a large degree of change due to growth, so the risks of change fatigue and outright resistance needed to be expected and addressed.
IFDS knew they had to make some tough choices and put their dollars and energy where it would count most. But they needed some help understanding where that was and how to do it.
What did we do?
Past changes at IFDS had left a residual effect that could make the current changes more challenging. The culture and value system was playing a major role in how teams or team members reacted to change. By considering past change initiatives, as well as the culture and value system of the organization, certain reactions in the group could be predicted and planned for.
With over 400 employees impacted, either directly or indirectly by the changes, employee readiness for change is a gauge of how prepared and able employees are for change, whether you can expect high or low employee resistance, and why.
Over an 8-week period, Harbinger performed a series of activities to assess the short-term and future (people) Change Management needs for their transformation program with a specific focus on the 3 key projects in the transformation initiative—ITIL, Continuous Integration, and Knowledge Management projects.
Employing the approach and method of PROSCI and ADKAR, we produced a report that outlined the current state and recommendations for how to best support people through the changes.