skip to Main Content

Project Description

Schwab is a leading provider of investment and financial services, with longstanding commitment to value, innovation and customer service.  Following an effort to restore the firm’s cost leadership, leaders were concerned about ensuring a balance between efficiency and customer satisfaction.  Pivotal was engaged to test how Lean Six Sigma-based improvement could drive both service levels and productivity.

The pilot exceeded Schwab’s expectations, and expanded into a multi-year effort to better align end-to-end service and operational processes—under the title One Schwab.  Our work included executive coaching, enhancing performance measures, change management to support strategic and process changes, and just-in-time coaching/training for a variety of improvement initiatives.  A network of Pivotal-mentored change advisors helped spread the effort across Schwab and build significantly on early successes.

Project Results

In addition to building a unified approach to improvement across the company, impacts included:

  • Accelerating key customer transactions—opening accounts, moving funds—by 50% or more
  • Reducing errors and eliminating unnecessary activities from routine processes
  • Significant and steady increases in customer satisfaction and “promoter score” indicators