LGT, a private banking and asset management group owned by the Princely Family of Liechtenstein, operates globally with a strong presence in Europe, Asia, and the UK. With a commitment to digital transformation, LGT embarked on a journey with Workday to digitize and optimize its HR operations.
A digital foundation for HR excellence.
LGT’s journey with Workday unfolded in three distinct phases. The first involved consolidating existing processes and establishing a robust foundation within the Workday environment. The second phase focused on refining the system and ensuring smooth operations.
The third and current phase marks LGT’s commitment to innovation and digitalization. This involves streamlining workflows, automating manual tasks, and leveraging Workday capabilities to their fullest potential.
We started a digitalization project with a strong focus on going back to standard processes and digitizing and automating all the existing processes that we are currently doing manually.
Head of Services & Digital Transformation
One example is LGT’s globally standardized, fully digital recruiting process leveraging Workday. This includes automated offer-letter generation, digital contract signing, and a centralized candidate home for collaboration. After contract signature, candidates gain early Workday access and a prestart date for onboarding tasks so they can hit the ground running on day one at LGT.
The process significantly reduces the time from creating and sharing offer letters to the digital contract signature of all parties from at least one week to within a single day.
Global HR harmony through a standardized solution.
“For us, having a standard solution is really crucial,” says René Latzer, head of Services & Digital Transformation, underlining that LGT’s global presence necessitates a unified and consistent approach to HR management, from hire to retirement.
While standardization is key, LGT also recognizes the importance of flexibility. Workday adaptability allows LGT to tailor the system to its specific requirements, ensuring a perfect fit for the organization’s unique HR needs.
Having a standardized solution across all our locations worldwide is crucial. From a maintenance perspective, managing 10 different solutions for each of our locations is simply inefficient and impractical.
Head of Services & Digital Transformation
Beyond core: LGT extends the power of Workday.
LGT’s pursuit of innovation led it to embrace Workday Extend. “The main reason was really to extend the existing possibilities that we have in Workday,” says Latzer. This empowers LGT to build custom applications that seamlessly integrate with its core Workday system.
One example of Workday Extend in action is LGT’s new performance review app. This app simplifies the process, ultimately enhancing efficiency and user experience.
What’s next.
LGT’s journey with Workday continues to evolve. With a focus on continuous improvement and innovation and by embracing new functionalities, Latzer and team is committed to shaping a future where HR technology empowers its workforce and drives organizational success.