Navigation Links
Infohrm Member Client Saves Millions of Dollars Through Workforce Analytics
Date:11/10/2008

WellPoint, Inc. identifies potential savings of $6 million in early tenure turnover costs.

Washington, DC (PRWEB) November 10, 2008 -- Infohrm, the global leader in workforce planning, reporting and analytics solutions, today released a case study highlighting the tremendous financial success of its member client WellPoint, Inc.'s workforce analytics program. Through in-depth analysis of workforce data, WellPoint is on track to save over $6 million by dramatically reducing early tenure staff turnover.

WellPoint, a $61 billion dollar commercial healthcare benefits company (NYSE: WLP), faced a similar challenge to most global firms: rising turnover rates among staff with less than one year of tenure. High turnover among this segment of the employee population had significant financial impact—the recruiting, onboarding, and training costs for new hires were not being returned to the business in the form of productivity gains.

WellPoint leveraged Infohrm's i3 human capital dashboard to determine that turnover was highest among two specific job families and several distinct geographic locations. Armed with workforce and business insights that pinpointed the areas of greatest opportunity for improvement, the WellPoint team created a financial Cost of Turnover model (to translate workforce data into financial metrics), analyzed data across five key dimensions of the employment experience—including the hiring process and starting salaries—and tracked a range of metrics, including employee engagement, quality of hire, and job preview effectiveness.

The results: A 13.5% decrease in First Year Voluntary Turnover and a direct cost avoidance of almost $6 million.

"The Infohrm i3 dashboard is a reliable, dynamic, customizable, and consistent source of human capital data for WellPoint," explained David Ibarra, Director of HR Metrics & Analytics for WellPoint. "The partnership with Infohrm has allowed our organization to drive business performance through improved workforce productivity and performance."

"Infohrm is delighted to partner with progressive Human Resource leaders such as David Ibarra and organizations like WellPoint," said Brian Kelly, President of Infohrm North America. "David and the WellPoint team quantified the financial impact of an issue facing all large companies by identifying a critical human capital opportunity, analyzing data from across the entire organization, and significantly reducing turnover costs. It is a great example of success in workforce analytics."

To read the entire story, visit Infohrm's Case Studies.

About WellPoint, Inc.:
WellPoint, Inc. is the largest publicly traded commercial health benefits company (in terms of membership) in the United States, serving over 35 million members, and is an independent licensee of the Blue Cross Blue Shield Association. In 2007, the organization generated revenues of $61 billion.

About Infohrm:
Infohrm is the global leader in on-demand workforce planning, reporting, and human capital analytics solutions. With over 25 years of experience, and a strong customer base consisting of Fortune 1000, non-profit, and government clients, Infohrm has paved the way for organizations to measure the impact of human capital initiatives and drive business results. The Infohrm solutions couple a leading edge on-demand technology platform with strategic consulting and HR professional development services that focus on the analysis of data to help organizations make informed decisions around human capital practices.

In April 2008, Gartner named Infohrm to its "Cool Vendors for Human Capital Management Software" report.

Contact Information:
Mick Collins
Director of Marketing
202-589-2660

This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company listed above.

###

Read the full story at http://www.prweb.com/releases/2008/11/prweb1593744.htm


'/>"/>
Source: PRWeb
Copyright©2008 Vocus, Inc.
All rights reserved

Related medicine news :

1. MVP Health Care and IncentOne Partner to Provide Member Incentives for MVP and Preferred Care WellStyle Extras Program
2. Health and Wellness Incentives: How Health Insurance Providers Can Motivate and Sustain Member Participation in Wellness Programs
3. Golds Gym Members Outvote The Governator; Vote Barack Obama Over McCain as Best Workout Partner
4. Laila Ali Debuts as Member of California Governors Council on Physical Fitness and Sports
5. In Final 72-Hour Push, SEIU Members Get Out The Vote for Barack Obama and Other Working Family Candidates Across the Country
6. Blue Cross Foundation Welcomes New Board Chair and Members
7. CareAnalyzer From DST Health Solutions Helps Health Plans Improve Care Management and Quality for Members
8. Boston Scientific Welcomes Passage of Federal Pain Care Legislation to Benefit Military Members and Veterans
9. NxStage Appoints New Member to Its Board of Directors and Announces Resignation of Board Member
10. Mary Hall, CEO of iHealthSpot, Inc., is Awarded Membership Into Fort Lauderdale City Limits "Profiles of Excellence"
11. SEIU Members Stepping up Their Efforts for Obama-Biden Ticket
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/26/2017)... ... , ... “How to Live in the Millennium”: a gripping take on how the author ... a part of everyday life and do not affect daily choices. It shows how ... thoughts, words, and actions that are chosen. “How to Live in the Millennium” is ...
(Date:9/26/2017)... ... September 26, 2017 , ... “Sound of My Song”: an intriguing ... of published author, Karmen Worden, a retired teacher with a passion for music and ... an intriguing and inspiring story on loss, living with depression, and finding love through ...
(Date:9/26/2017)... ... September 26, 2017 , ... “The Tour Guide”: is the life story of the ... creation of published author, David Alexander Stark, is an adventure tour guide and the subject ... around to the back to confront fifteen shocked faces. I played it off as a ...
(Date:9/26/2017)... ... 2017 , ... Time out for Daddy is a moving story of a ... grownups make mistakes. “Time Out for Daddy” is the creation of published author Debra ... whose passion for children inspired her to write this book. , Published by Christian ...
(Date:9/25/2017)... ... September 25, 2017 , ... ... only fully programmable fall detection smart watch. VitalBand provides elite level fall ... as you want so help arrives quickly. Plus, it’s a fully functioning ...
Breaking Medicine News(10 mins):
(Date:9/9/2017)... -- ... Washington DC ... 12 th – Monday, September 18 th .The Brain Tumor Foundation ... scans to the public.Where:  BTF,s Mobile MRI Unit ... Street NW, Washington, D.C.What:BTF brings its nationwide initiative, the Road to Early ...
(Date:9/7/2017)... 2017  For nearly two decades, New Life Agency has been committed ... industry. Today, New Life Agency announces a powerful three-way partnership designed to ... ... ... http://pharmacarecard.com/ (PRNewsfoto/PharmaCareCard) ...
(Date:9/7/2017)...   BioLife Solutions , Inc. (NASDAQ: BLFS ... grade cell and tissue hypothermic storage and ... , President and CEO, will be presenting at two investment ... Renshaw 19 th Annual Global Investment Conference on Tuesday, ... time). The conference is being held at the New York ...
Breaking Medicine Technology: