Navigation Links
Infohrm Member Client Saves Millions of Dollars Through Workforce Analytics

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

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


Read the full story at

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:
(Date:6/26/2016)... ... 26, 2016 , ... Pixel Film Studios Released ProSlice Levels, a Media Slicing ... their videos a whole new perspective by using the title layers in ProSlice ... , ProSlice Levels contains over 30 Different presets to choose from. FCPX ...
(Date:6/25/2016)... D.C. (PRWEB) , ... June 25, 2016 , ... ... discuss health policy issues and applications at AcademyHealth’s Annual Research Meeting June 26-28, ... their work on several important health care topics including advance care planning, healthcare ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency ... named Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm facility. ... Director of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director ...
(Date:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the benefits of moderation, whether ... latter, setting the bar too high can result in disappointment, perhaps even self-loathing. However, ... their goal. , Research from reveals that behind the tendency ...
(Date:6/24/2016)... ... June 24, 2016 , ... Marcy was in a crisis. Her son James, eight, was ... his family verbally and physically. , “When something upset him, he couldn’t control his emotions,” ... He would throw rocks at my other children and say he was going to kill ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... June 24, 2016   Bay Area Lyme ... Dean Center for Tick Borne Illness , ... Rehabilitation, MIT Hacking Medicine, University of California, Berkeley, ... announced the five finalists of Lyme Innovation ... More than 100 scientists, clinicians, researchers, entrepreneurs, and ...
(Date:6/24/2016)... , June 24, 2016 The Academy ... of recommendations that would allow biopharmaceutical companies ... with entities that make formulary and coverage decisions, a ... "value" of new medicines. The recommendations address ... not appear on the drug label, a prohibition that ...
(Date:6/24/2016)... June 24, 2016 Research and Markets ... for Companion Diagnostic Tests" report to their offering. ... Companion Diagnostics The World Market for Companion ... medicine diagnostics. Market analysis in the report includes the following: ... (In Vitro Diagnostic Kits) by Region (N. America, EU, ROW), ...
Breaking Medicine Technology: