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Adapting To New Realities
Adapting To New Realities
- Business Strategy Development
- Human Capital Consulting
With more than 20 years of industry experience, Tab Gallery is a renovation contractor & interior design firm that has helped numerous clients build their dream homes, offices and even retail shops.
Over the last decade, technology has transformed homes into hubs of high-tech enabled living and functionality. Connected home technologies and the explosion of Internet of Things (IoT) solutions are continuing to evolve and will further transform residential living styles. However, Tab Gallery did not know how to strategise and address these new market conditions and demands.
Apart from that, they also faced high turnover rates and were unable to retain talents.
Business Strategy Development
In order to accommodate to the new reality of high-tech enabled living, Tab Gallery needed to adapt and expand its services and product offerings. Hence, we proposed to introduce a new “Tab Gallery Smart Living” brand with offerings that go beyond renovation and enable a smarter, more connected residential living experience. The Vision is for Tab Gallery to be part of a complete smart living ecosystem through collaboration with partners to provide clients with enhanced convenience, comfort and connections. With that in mind, we also assisted to develop a Business Model Canvas to explore the new business concept of “Tab Gallery Smart Living”.
Human Capital Consulting
To tackle the issue of high employee turnover, we suggested a series of HR interventions:
1. New employee onboarding buddy system – to help integrate new hires physically, emotionally and professionally into the organisational culture and operations.
2. Job description – serves as a communication tool that allows employees to clearly understand the expectations of the role, as well as its essential duties and responsibilities.
3. Open Performance Review Appraisal System (OPRAS) – to assist Tab Gallery in finding out how an employee’s abilities can be used and improved for future growth and development. The built-in self-appraisal mechanism also offers employees a chance to reflect upon their personal performance and understand their strengths and weaknesses.
4. Employee focus group dialogues – to derive valuable insights from staff and gauge their feelings towards specific subject of interests. The information gained will be used to contemplate and implement worthwhile improvements.
5. Net Promoter Score (eNPS) – a quantitative measure to gauge staff satisfaction and loyalty. Working towards a good eNPS can help to reduce staff turnover.
6. Exit interview – allows Tab Gallery to gain insights into the reasons for an employee’s resignation and where applicable, to act on the feedback given.
- The new business concept of “Tab Gallery Smart Living” will expand Tab Gallery’s portfolio and is expected to increase revenue by 15%. Customer retention is also projected to rise by up to 5%.
- Staff turnover is estimated to improve by 5% while Net Promoter Score (eNPS) is predicted to achieve a 10% improvement.