CXOToday has engaged in an exclusive interview with Chirag Buch, Global Servicer Delivery Leader, Mercer
- In the context of GCCs shifting from cost centers to value creation hubs, can you share specific strategies and initiatives that you have implemented or observed that have successfully contributed to Marsh McLennan’s transformation?
Traditionally GCCs were involved in working in the same way the process was delivered ‘onshore’. Things have drastically changed now. We have moved away from just delivering low complexity processes to driving innovation and process excellence that are fundamental to Marsh McLennan’s business. To give few examples:
- We have one of the largest teams with actuarial capabilities within the GCC.
- We have moved away from just measuring the delivery of our operations that are within our control to monitoring business outcomes.
- We work closely with teams that define strategies on innovation and building next generation capabilities.
- We drive end-to-end efficiency and innovation programmes that lead to better business outcomes.
- Last but not the least, we are now a powerhouse of talent.
We are now a centre of excellence that focuses on enhancing domain knowledge and increasing skills and competencies of our people.
- The blurring of lines between GCCs and business functions globally is becoming a prevalent trend. Can you provide an example of how a GCC leader effectively bridged this gap and contributed to end-to-end deliveries or global roles within their organisation?
The blurring of lines between GCCs and business functions are evident in various ways. GCCs are now actively involved in strategic decision making, innovation and product development. We act as an integral part of the business rather than just a support unit -we build strategic partnerships, enhance collaboration and drive shared goals. For example, the Chief Technology Officer for one of the Marsh McLennan businesses and the Continuous Improvement Leader for the Operations and Technology team is based in our GCC.
- What strategies do you recommend for efficiently using talent in Tier 2 and Tier 3 cities?
Tier 2 and 3 cities in India are gaining relevance from a GCC perspective. We are already seeing GCCs being set up in cities like Vadodara, Thiruvananthapuram, Coimbatore, Ahmedabad and Jaipur. The market is evolving and the demand for skills is also increasing. At Marsh McLennan, we focus on skill-based rather than role-based hiring. We believe in diversity and equal opportunities and regardless of which city a candidate belongs to, we nurture talent. We offer all our colleagues a range of opportunities; platforms to upskill; explore capabilities and realize one’s true potential.
- What skills do you believe are essential for driving digital transformation as a GCC leader?
The following skills help drive digital transformation as a GCC leader:
Strategic orientation and foresight: Leaders should be able to work with the business to clearly define the business strategy especially where GCCs can provide support and add value. Further, it is also important to understand the fast-changing world of technology and have a foresight into what tomorrow will look like so you can continue to evolve processes and invest in the right technology and skill sets.
Clear communication: Leaders should keep communication channels open and connect with colleagues often. Being able to explain the digital transformation vision and the rationale behind certain decisions and directions will help them stay engaged and connected with the larger objective.
Technological and data analytics literacy: Having a strong understanding of emerging technologies and their potential impact on business operations is the key to driving digital transformation. We all know data is a valuable asset. In addition to being proficient in data analytics to extract meaningful insights, it is also important for leaders to be aware of how to handle data responsibly – this includes an understanding of data governance, privacy and security as well. All these play an important role in digital transformation.
Ability to foster a culture of innovation and change: Digital transformation entails change and change management can be tricky if not managed efficiently. Leaders should foster a culture of continuous learning and adaptation. To drive innovation, it is also important to encourage people to take risks and fail fast.
- What opportunities do you see for GCCs in the future and how can they create value?
The themes that will define GCCs of the future and how they can create value are the following:
- Over a period of time, GCCs have grown to include a significant strength of the overall enterprise’s headcount. With such talent, they should focus on building scale and depth
- Become a partner in shaping strategic priorities for the businesses they support.
- Become an Innovation Hub for the organization. GCCs can play a significant role in building ‘test and learn’ scenarios and implementing large scale innovation which does not require significant investments or technological change.
- Become a powerhouse of talent and a ‘centre of excellence’
- Build and scale up next generation capabilities in data, analytics, digital and Gen AI
