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: