The changing nature of work
Travelex was founded in London in 1976 and today employs 9,000 people across 30 countries, with revenue of £1.2 billion. In the past three years, a significant portion of its EBITDA has come from customers interacting with the brand online and via mobile, which for Williams is a sign of the need for a digitised strategy – for customers and staff.
Top of his HR agenda is to ensure the Travelex employee experience is hosted in the Cloud, driven by his belief that the convergence of work and personal life will characterise the future world of work.
“If you believe consumer behaviour depends on online and mobile, it follows that employee behaviour will start to rely on it too,” he explains. “Whether it’s the ability to book time off or participate in performance management processes, people want to do this at a time of their choosing.”
And with the impact of globalisation and the need for organisations to be agile and achieve scale advantage through seamless operations, failure to respond to this paradigm shift is not an option for Williams.
Travelex began the journey by deploying various SaaS systems (Workday, Peoplefluent and Cornerstone) for talent development, HCM (human capital management) and workforce scheduling – a move that, according to Williams, “no other business has done yet”. Next for Travelex is payroll, rostering and workforce scheduling into the Cloud.
“We recognise the power of predictive analytics. If your data tells you how much someone earns and how well they are performing, you can build out scenarios. How can I get my highest-performing person on the right shift in the most profitable location at the cheapest time?”
This hypothesis has helped Travelex think differently about its workforce strategy and ask questions such as: ‘What contracts should people be on?’ and: ‘What scheduling should we put people in?’
“We’re a way off, but the vision is to have employee data overlaid with business data on customers, products and financials – and build scenarios,” says Williams.