Leveraging Technology To Enhance Productivity And Employee Experience At Fidelity

In today's fast-paced and digital-driven world, businesses are constantly seeking ways to stay competitive and optimize their operations. One of the key areas where organisations are focusing their efforts is leveraging technology to enhance productivity and improve the overall employee experience. By harnessing the power of technology, companies can streamline processes, automate repetitive tasks, and create a more engaging and efficient work environment.

“At Fidelity International, we are always looking for ways to create a better, more productive workplace and culture for our people. Technology enables us to do that, not just faster but also better,” state Upasna Nischal, HR Head - India and Amit Singh Thukral, Head of HR Information Systems, Fidelity International.

And not just HR processes, adoption of smart technology at Fidelity has helped the management provide seamless solutions in talent acquisition; onboarding; employee engagement, experience and productivity; exit -- and ensure that across these phases, their employees have a seamless tech experience that we’re constantly working on improving. They have also adopted layers of technology that enable personalised experiences and hyper-personification, not only at the leadership and management levels, but across levels of employees.  

Leadership’s Role In leveraging Technology

By embracing technology as a catalyst for productivity and employee engagement, organisations can unlock new levels of efficiency, collaboration, and innovation.
Leadership too plays a pivotal role in leveraging technology effectively within an organisation. Their vision, guidance, and strategic decisions are instrumental in maximising the benefits and minimizing the challenges associated with technological advancements.

Here are some key aspects that the management at Fidelity has been leveraging;

• It's essential to focus on having a strong governance structure. This includes change governance and escalation management which needs to be built into the project management itself, to ensure that the implementation of new technology is managed effectively, and issues if any are addressed promptly.
• Secondly, engagement of senior stakeholders is crucial. This should be supported by a well-defined business opportunity analysis, with clear efficiencies and improvements that are owned by accountable executives and sponsors of programs. 
• Thirdly, allocation of budgets for central project costs and changing budgets to business teams is critical. This creates a healthy environment of value proposition that needs to be clearly articulated through support and technology costs spent.
• Lastly, technology implementation, even with internal teams, should be driven like a partner-led project. This means that time spent, and resources allocated need to be budgeted for and measured by the value they will create. 

“At Fidelity International, we ensure that when we implement technology, it is aligned with the organisation's strategic goals and objectives and that the value created is communicated effectively to stakeholders, “believe Nischal and Thukral.

What sets Fidelity International apart is their relatively quick decision-making given their size, to make improvements, start or stop projects, and drive value-based decisions at the top technology portfolio level in a matter of weeks, instead of months or years, making the overall delivery extremely agile and strongly distinguished for performance, value for customers and business.

Technology Impacting Employee Experience At Fidelity

At Fidelity, their management has explored and implemented various interesting tools such as chatbots, AI, and machine learning, as well as mobile-first and mobile-only apps.

Both Nischal and Thukral explained, “our recently launched Fidelity International Campus, a unique metaverse experience aimed at promoting financial literacy and educating users on the importance of financial planning, money management, and investing, enhances the learning experience, especially relevant for the gen Z.”

They also launched a benefits platform for their people that provides them a complete view of the benefits available to them, including the total value of compensation and benefits in one place. It’s a one-window buffet/pallet where our people can pick and choose what they want. They can also delve deeper into each benefit. 

One of the significant areas where technology has brought in efficiencies is in the automation of our employee processes. They have adopted tools that help employees learn the process on-the-go, which has significantly reduced the time taken by our shared services specialists. 

Aligned with our 2030 strategy, all their systems and applications at Fidelity International are moving towards a cloud-based setup, significantly enhancing user experience, making it accessible and enabling mobile usage, and creating efficiencies of cost internally. More than 30 per cent of theirr changed portfolio is focused on creating automation and efficiencies, which have been crucial in our success stories.

Technology is an ever-growing part of the way we operate and structure to support our employees and clients. This is a period that rightly fits and matches the requirements of our times and looks at various initiatives around what the talent needs, skills of the future, diversity and inclusion, enhancing experience etc.