New Case Study: Topia Redesigns Investment Bank’s Mobility Program, Saving Team 16 Hours Per Assignment
About The Company
An investment bank with 400+ active assignments annually
The Challenge
With a talent shortage in financial services, companies in the space need to full use of mobility to recruit and retain talent. Our customer, an investment bank, has 400+ active assignments annually, but their Big 4 solution did not allow them to remain agile.
It took the company a month or more to create tailored assignment packages, because of the customization and manual effort required.
Part of this time was spent calculating local gross salary, which required a two-step calculation and was complicated by currency fluctuations in the host country. Further, the mobility team had to track down data points from the HR team to complete the calculation.
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Increasing Agility with Topia
With Topia Manage and Topia Plan, our customer was able to increase their agility and tackle salary adjustments with ease.
By implementing our solutions, the company could automatically generate offer letters in just one day, when it used to take an entire week. Also, multiple manual processes were automated, saving approximately 16 hours per assignee, freeing the mobility team to address other priorities.
By automating local gross salary calculation and fixing the exchange rate challenges, the team no longer needed to make offline Big 4 calculations.
With all of these innovations, the team saved more than $1,000 per assignee.
Results
- $1,000+ in savings per assignee
- Initial offer letter provided automatically in one day, compared to one week
- 16 hours of time per assignee saved by the mobility team
