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Lloyds Banking Group Describes Its $3B Business and Talent Transformation

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Manage episode 465011855 series 2884717
Content provided by Josh Bersin. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Josh Bersin or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Lloyds Banking Group, the largest bank in the UK, is undergoing a £3 Billion business transformation focused on enhancing customer experiences, integrating products and services, and leveraging technology to improve service delivery.

Holly Quincey, Chief Talent Officer, describes the company’s accompanying talent transformation, particularly its skills-based hiring strategy.

Talent Acquisition: This includes bringing executive hiring and leadership development in-house, saving millions. A program called “Prescient” was developed for the top 340 leaders, incorporating tools like Hogan and Raven assessments, 360 feedback, and external benchmarking to build leadership capabilities and align with future skills needs.

Cultural Transformation: Lloyds is shifting from siloed thinking to a more collaborative, customer-obsessed, and growth-oriented culture. This involves fostering a mindset where the bank sees itself as a tech company that does banking, rather than a traditional bank with good technology.

Recruitment and Workforce Planning: The recruitment function was remodeled in 2024, with a focus on reducing agency dependency and aligning talent acquisition with strategic workforce planning. This included hiring leaders with experience in campaign hiring and demand planning.

Financial and Operational Impact: The transformation has already generated significant financial savings, including £20 million in 2024 alone from in-house initiatives like talent acquisition and leadership development. The organization continues to hire thousands annually while embedding innovation and efficiency across its operations.

This WhatWorks interview will give listeners the inspiration to “think big” in your end-to-end talent transformation strategy.

Additional Information

Leadership Development Insights,

Human-Centered Leadership, Certificate Program in The Josh Bersin Academy

Why Are Some Companies More Dynamic than Others?

  continue reading

319 episodes

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iconShare
 
Manage episode 465011855 series 2884717
Content provided by Josh Bersin. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Josh Bersin or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Lloyds Banking Group, the largest bank in the UK, is undergoing a £3 Billion business transformation focused on enhancing customer experiences, integrating products and services, and leveraging technology to improve service delivery.

Holly Quincey, Chief Talent Officer, describes the company’s accompanying talent transformation, particularly its skills-based hiring strategy.

Talent Acquisition: This includes bringing executive hiring and leadership development in-house, saving millions. A program called “Prescient” was developed for the top 340 leaders, incorporating tools like Hogan and Raven assessments, 360 feedback, and external benchmarking to build leadership capabilities and align with future skills needs.

Cultural Transformation: Lloyds is shifting from siloed thinking to a more collaborative, customer-obsessed, and growth-oriented culture. This involves fostering a mindset where the bank sees itself as a tech company that does banking, rather than a traditional bank with good technology.

Recruitment and Workforce Planning: The recruitment function was remodeled in 2024, with a focus on reducing agency dependency and aligning talent acquisition with strategic workforce planning. This included hiring leaders with experience in campaign hiring and demand planning.

Financial and Operational Impact: The transformation has already generated significant financial savings, including £20 million in 2024 alone from in-house initiatives like talent acquisition and leadership development. The organization continues to hire thousands annually while embedding innovation and efficiency across its operations.

This WhatWorks interview will give listeners the inspiration to “think big” in your end-to-end talent transformation strategy.

Additional Information

Leadership Development Insights,

Human-Centered Leadership, Certificate Program in The Josh Bersin Academy

Why Are Some Companies More Dynamic than Others?

  continue reading

319 episodes

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