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Unlocking the Value of isolved People Cloud™

In an era marked by economic uncertainty, organizations increasingly prioritize their return on investment (ROI). Amid these challenging conditions, isolved has revealed compelling findings from an independent Total Economic Impact™ (TEI) study commissioned to assess the effectiveness of its People Cloud platform. Conducted by Forrester Consulting, this study's results clearly illustrate the transformative nature of the People Cloud platform for HR leaders.

The TEI report emphasizes that companies utilizing the isolved People Cloud™ platform can expect an impressive 330% ROI with a remarkable payback period of less than six months. According to Celia Fleischaker, Chief Marketing Officer at isolved, this validation reflects a larger trend in HR, where leaders are pressured to streamline complex administrative tasks while also focusing on attracting and retaining top-tier talent.

Key Insights from the TEI Study

The study involved interviews with decision-makers from five organizations across sectors like healthcare, hospitality, security, and professional services. The key outcomes of their investment revealed critical improvements in various areas:

1. HR Headcount Growth Reduction: Companies experienced a 64% reduction in HR headcount growth through automation in payroll, benefits, and recruitment processes. This efficiency helped avoid the hiring of 5.3 to 8.8 additional HR full-time employees each year.
2. Improved Employee Retention: Enhancements in payroll accuracy and the introduction of self-service tools contributed to a 17% improvement in employee retention, reflected in a six-point drop in turnover rates.
3. Accelerated Onboarding: By streamlining onboarding processes with automated workflows and digital training content, organizations saw an average 30% faster onboarding, accelerating new employee contributions to business goals.
4. Increased Employee Productivity: Digital workflows and task management improvements resulted in a 9% increase in employee productivity after three years of using the platform.

These findings align with customer feedback, indicating that isolved People Cloud equips businesses with essential data and insights needed for informed decision-making. By improving visibility and resource planning, organizations can efficiently allocate resources while still maintaining a people-centric culture, pivotal in their operations.

Beyond Quantifiable Gains

The TEI study illustrates not only financial benefits but also qualitative advantages stemming from the adoption of isolved People Cloud. These include:

• - Scalability that facilitates workforce growth without overwhelming HR infrastructure.
• - Exceptional customer support, with respondents praising the rapid response times and the assistance provided by dedicated account managers.
• - A unified HR ecosystem that combines HR, payroll, benefits, and talent management into one cohesive user experience, minimizing the risks associated with system fragmentation and manual errors.

As an HR Director for a real estate services firm put it, "It wouldn't take much convincing for senior executives to realize how much we're achieving with a limited staff. This system simplifies everything we need to get done."

By adopting isolved People Cloud, organizations are not merely investing in software; they are laying the groundwork for a future where employee engagement, productivity, and retention flourish. With the accompanying benefits of reduced costs and the ability to focus on talent management, it’s evident that isolved People Cloud™ is much more than a platform; it's a strategic partner in driving HR success.

To explore more about isolved and how their solutions can transform HR strategies, visit isolvedhcm.com.