If you’re in the process of proposing a full-suite HR solution that’s easier to use, access, and adopt, consider including data on employee wellness and engagement. The return-on-investment numbers are compelling and can help make your case and gain the approvals you need.
Consider the recently released Quick Tour of Oracle HCM Cloud. The breadth and depth of this solution can be used to cost-justify your overall solution.
User experience has become even more critical in today's mobile and socially connected world. And perceptions of employer priorities and brand values are some of the most talked-about factors in today’s competitive recruiting and retention market. Turns out, studies conducted by reputable organizations, include persuasive data in support of employee wellness and engagement programs. The American Journal of Health Promotion conducted an in-depth analysis of employer work-site health-promotion programs and found the following:
For every dollar invested in wellness, employers saw an average savings of $5.81 due to improved employee health and reduced medical claims.
Another study, published by the Harvard Business Review, showed that employee wellness programs reduced medical claim costs by $1,421 per participant. Talk to any HR leader who has rolled out a wellness program at a metrics-driven organization, and she’ll most likely share a similar story with great pride.
Screenshot taken from the Quick Tour mentioned above of an employee wellness user-interface in the Oracle HCM Cloud. Visit the QuickTour for more detailed info.
What’s great about employee wellness and engagement is that the numbers can be used to justify many related areas of workforce management that are clearly mission critical but harder to quantify. Ease of use, access, and adoption are prime examples, as are social collaboration, team building, goal setting, and performance management. Keep in mind that executive decisions often rely on solid data to sort out competing stakeholder positions for limited budgets. Hard and credible numbers are often more critical than what might appear to be plain common sense.