To meet the current financial challenge, utility leaders should broaden their focus to include other business functions – such as human capital management – that are contributing to the rising operations and maintenance (O&M) spend.
Overall Goals: Improve workforce quality, capability, productivity, and stability while reducing payroll
Targeted Savings: $1+ million annually per station
Based on StrategyDriven’s experience, $1+ million in annual savings – and improved safety and reliability – are available to nuclear utility operators in the near-term through the implementation of contemporary market-based business practices in the human capital management area including:
- Flattening the organization structure at both the corporate and station levels
- Resolving positional pay misalignments that discourage upward personnel mobility and drive unnecessary positional churn
- Standardizing and consolidating the site access and onboarding processes across the industry
…and numerous others!
Download Four Overlooked Controllable Costs to receive StrategyDriven’s complete list of $1+ million cost reduction opportunities in the areas of:
- Human Capital Management
- Information Technology
- Supply Chain / Inventory Management