What we did to effectively manage our workforce
The HR function provides the business with tools, frameworks and analyses that enable us to effectively manage our workforce. Effective workforce management plays a vital role in achieving transformational goals and includes supporting managers in performing their daily tasks, from recruitment to development and providing insights to senior management, which will in turn support strategy and planning activity and enable better informed decisions.
An important part of achieving this objective is continuous investment in technology and modern infrastructure. HR continues to develop and expand its state-of-the-art software for workforce analysis and planning – a strategic innovation to support the bank’s innovation and digital agenda. The software provides managers with people analytics and a workforce planning solution, based on pre-built, best practice questions about the workforce.
After the initial implementation in 2020, the focus in 2021 was to further integrate Workforce Planning and Analytics, to allow the bank to estimate the numbers and costs of employees needed for the future compared to the current labor supply, and monitor the numbers in real time. This allows HR to predict various scenarios, present different options to executives and choose a path for achieving certain goals.
As part of the strategic planning process in 2021 HR workforce tools have been used for the first time to create a holistically automated and cost-focused workforce plan – fully integrated with the bank wide strategic planning process.
In order to support Deutsche Bank’s global initiatives, regulatory needs as well as strategy and planning, our overarching objective going forward is more evidence-based management of our people and workforce agenda. We are already delivering solid reporting, metrics and Key Performance Indicators (KPIs) and moving toward forward looking modelling and predictive analytics – see the staircase model below.
Our journey from reporting to modelling in workforce management & people analytics
In order to support Deutsche Bank’s global initiatives, regulatory needs as well as strategy and planning, our overarching objective is a more evidence based management of our people and workforce agenda.