The pilot has seen a five per cent improvement in call resolution efficiency, and the scheme has received a positive response from clients. Staff feedback has been strong and management metrics have seen an upturn, including sick days, time management and personal performance. Staff performance has increased due to the stronger work-life balance now being achieved.
The plan offers staff the option of working in multiple locations, including the office, at home or on client site and is designed to increase motivation levels to meet changing employee demands and improve client service. The initiative is now being rolled out across the whole of the office in George Road, Edgbaston.
The Birmingham office currently employs 75 staff, a third of which have been involved in the pilot scheme and who work on the Quasar back office software. Quasar includes investment management functions to support asset and wealth management and has a large installed base of mainly UK investment management firms. Clients include Coutts, Jupiter, Newton and Rathbone.
Chris Potts, CEO of Rhyme Systems, said: "The success of a scheme of this nature is dependent upon the needs of the business and the job roles it affects and certainly won't work for every company in our line of business. We are particularly proud of the new system as it reflects our willingness to implement innovative ideas in order to boost staff morale and effectiveness. The pilot has resulted in improved levels of trust between management and staff, which has led to a more motivated workforce. We also think it can help our staff achieve a more healthy work-life balance."
Leading London-based flexible working consultants, Flexecutive, assisted Rhyme with the creation and implementation of the scheme. Charlotte Gascoigne, Senior Consultant, Flexecutive, said: "I was impressed by the commitment, enthusiasm and can-do attitude to this initiative at all levels of the company. Our approach to flexible working starts with the needs of the business and its customers, so Rhyme was able to maintain service to customers while also introducing some significant benefits for staff, particularly reduced travel time. Participants generated some very creative ideas about how to maintain communication, knowledge sharing and team cohesion in a virtual environment."
Rhyme Systems specialises in helping UK and international investment firms unlock the hidden value of the back-office.