Increasing Average Revenue per Person by Creating a High Performance Environment: Financial Services

Increasing Efficiency & Service Levels at AMP

Client Case Study

Situation

AMP is a leading wealth management company with 3,800 employees in Australia and New Zealand. It is Australia’s largest retail and corporate superannuation provider, and one of the region’s most significant investment managers with more than A$92 billion in assets under management. Our focus was on the Customer Service side of the business, in particular the call centers.

Complications

The Director of Customer Service was asked to:

  • Reduce head count
  • Increase service levels
  • Increase efficiency

Approach

  1. Senior Leader performance education and cultural implementation session to discuss and understand the key leadership factors that impact performance
  2. High performance environment diagnostic
  3. Wider leadership performance education and High Performance Environmental Structure education and implementation over 12 months

Results

  • 4x increase in average revenue generated per person

In the words of Helen Wells, Director of Customer Service:

“When I joined AMP, I inherited a branch that I thought was particularly soft. We are now generating revenue figures that are greater than any other channel. This, of course, is additionally impressive as it is within a financial service firm among a worldwide financial crisis. I absolutely see this as a result of implementation of the high performance environmental structure.

When I first joined, each individual had a target of $1,500/week. I reevaluated that target and set it at $10,000/week. There was a lot of resistance at the start, but I maintained and enacted the leadership principles. Since inception (less than one year), the average revenue generated per person is $6,000-$8,000/week. I am now in the process of enhancing the rewards mechanism so that I close the gap and achieve an average revenue generation of $10,000/week.

After adopting this high performance culture methodology, I have seen consistent hitting of targets in my business.”

Related Information

We partnered with LSA Global to help us invest in our people. LSA designed a modular and customized management curriculum that allows us to deliver top quality solutions to our managers and leaders. We consider LSA to be our learning and development partner and our LSA consultants to be an extension of our team.

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