Employee Cost Assessment
The core of the Kohl approach is our Employee Cost Assessment. It is an key part of the Full Assessment but can also be purchased separately for those clients interested in employee cost allocations for internal profitability systems. Frequently, employee costs can approach 50% of total costs and as much as 70% for a specific product, yet these costs are commonly the least understood. This is because few organizations accurately measure what employees really do.
A traditional Operational Employee Analysis is typically very disruptive and time consuming. Considering that the simple act of observing people changes their normal behavior, most time study results are suspect. Asking employees to track time manually is also fraught with error. People get busy and have to go back and “make up” what they did during their day/week/month. Basically these methods don’t work. (Ask us how we know. Been there done that.)
In contrast, Kohl's method simplifies obtaining detailed employee time and cost information. Our method requires far less work on the client’s part than traditional approaches.
A substantial part of this process is automated through our web-based solution Kohl Direct. Kohl Direct enables the easy collection of time data from loan and deposit customer facing and support teams. It generally takes an employee less than 15 minutes to provide estimates of their time based on activities specifically customized for their job function.
Expanding the Employee Cost Assessment to include salary data allows Kohl to identify exactly how much it costs you to perform specific activities in addition to how long it takes. You can compare your costs and/or time to our averages to identify areas in need of improvement. Our What If tool will even tell you the performance lift that could be anticipated if the time to complete specific activities is improved to the average or best practice level. If competitive advantages are identified, this information can be leveraged to improve performance.