OK, I am just going to say it…Millenials are a pain to hire.
We all want them for their fresh thinking, nascent understanding of social and digital, and their ability to network. Yet put them in your business and they complain about the lack of apps, struggle to use Outlook to schedule a project meeting, and don’t seem excited at the prospect of learning about the technology that led to the programming power that they take for granted.
The Ugly Truth
Truth is, lots of large organisations still have old mainframe and “green screen” systems tucked away taking care of business and looking after data that customers will rely on in the future. This is especially true of the financial services sector where information on millions of investments and pension funds are held ready for when long-standing (and profitable) clients need to make critical financial decisions.
Millenials just don’t work well in this environment and this is where we see the “Mexican stand off”, with the Millenials expecting corporate services and technologies to flex to their expectations and companies who cant just change overnight.
So what are our options?
Well, we can do a couple of things – both will work, but only one makes sense to me.
Go all-out digital
One is to create a digital transformation programme to put the data in a more modern infrastructure. At the same time, you’ll need to replace the business logic and create a digital channel. This will work, but you’re going to have to allocate significant budget and allow for a timeframe that will stretch across multiple years.
Create the “illusion” through RPA
The other option is to use Robotic Process Automation. This approach will allow you to automate time-consuming tasks like having to log in to a mainframe to query and capture data, save you having to spend cash on replacement technology, and extract the millennials from the legacy systems through new digital and mobile interfaces that align with their expectations
The Power of a Portal
Just as lots of companies still have mainframes, most have disparate systems containing information that relate to each customer. Returning to our financial services example; anyone who has a number of lapsed pension funds will know how frustrating it is to try to find out exactly what is where. Using Robotic Process Automation gives you the ability to create a single digital portal where, upon the instruction to find information relevant to a customer, the processes required to retrieve that data from however many data sources you have, happen automatically. No multiple emails, duplicated phone calls or flicking through piles of paperwork. This leads to happier customers and, if you’re employing Millennials to help customers make sense of their investments, gets them using a Mainframe without them even knowing it.
Just don’t tell anyone
Thoughtonomy’s Robotic Process Automation and Virtual Workforce can deliver happier customers, smoother workflow and a more productive workforce. To book a demo, click here. To discuss what difference Robotic Process Automation could make to your business, get in touch.
Dean Chapman, Commercial Director