Estimated qualitative and quantitative impact for the corrective actions

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Sigma has conducted a financial impact analysis of the proposed improvement initiatives
and related headcount reduction. The table below represents the estimated quantitative
and qualitative impact derived from the implementation of the 105 proposed improvement
initiatives.
The quantitative impact is measured by total costs of employment savings. This has
been calculated by grade and then increased by a 30% overhead cost, consistent with salary
budget preparation guidelines from EU Financial Services department, as well as relevant
international benchmarks.
The qualitative impact is expressed in improvements to the baseline and is estimated as
an average of the weighted level of impacts by initiative category and by unit.
The baseline will be defined during the implementation phase and will consist of a set
of performance measurement criteria or metrics relevant to each unit environment. Where
possible, these metrics will include customer satisfaction, time to process and performance
management.
The customer satisfaction improvement will be measured through surveys, service level
agreements, and unit metrics, to be defined during the implementation phase.
The improved efficiency in time to process and service levels will be measured by the
reduction in process time, ratios of technology usage vs manual processing or any other
relevant effectiveness metrics to be defined during the implementation phase.
The improvement in performance management at unit and staff level (strategic alignment
of activities) will be measured by unit and staff improvement reporting, including quarterly
unit performance reporting, and annual and mid-year employee performance reviews.

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