Transforming work in Denmark

Efma feature

07 July 2020

Danske Bank is reimagining their workforce with a view to becoming a better and more efficient bank.

The COVID-19 pandemic has forced banks all over the world into a period of reassessment. In Denmark, Danske Bank is using this opportunity to overhaul the way they organize their workforce. Last month they announced their Better Ways of Working Initiative. The goal is to reduce bureaucracy and create more cross-functional teams that can adapt quicker to business needs.

Even prior to the COVID-19 pandemic, customer habits had been changing rapidly. Now, given the nature of this pandemic, digital adoption has only increased in the financial services industry. For banks, this is the time to be rethinking business models and expanding digital offerings. “The aim of this new way of working, which we call Better Ways of Working, is to enable us to provide better digital customer experiences and to react faster to our customers’ wishes and needs that are constantly changing,” said Lars Alstrup, Lead of the Better Ways of Working initiative at the bank.

In a recent Efma report entitled COVID-19 and the workforce: a new normal, I interview futurist Philipp Kristian about the way work is changing amidst our current, altered reality. He said, “Many have called Covid-19 a digital transformation accelerator, and that’s what it should be. But as we’ve been seeing recently, not all businesses are coping equally well with the sudden need for operational agility and fast delivery. The thing is, never has there been a more fitting time to communicate the urgency and purpose of organizational transformation than in times like these.” That is exactly what Danske Bank is doing. It understands the urgency of the moment and is initiating a transformation that will position it well for the future. 

To read more about the future workforce, you can access our full report here

Keywords : Covid-19 , Workforce management

Geography : Denmark