AQ Group Solutions is proud to present The AQuity 360 Blog Series as part of The AQuity 360 Program™, helping you to avoid The Reactive Decision Trap™. Read this series to see how your organization can build a human capital strategy that proactively aligns with your business strategy and goals.
Part 4: Are you caught in the Reactive Decision Trap™?
When decisions about your employee benefits plans and wellness initiatives are made based on limited data and budget pressures, repercussions can be significant in terms of cash outflow and lost productivity. We refer to this as the Reactive Decision Trap™. Like any trap, it is dangerous and costly. Sometimes it is difficult for an organization to see that they are in the trap, especially if they are inaccurately measuring the success of their benefits plans.
Any successful organization can attest to the importance of monitoring data relative to key performance indicators and consistently measuring the metrics set by leadership. Business initiatives must be aligned to corporate and financial objectives and excellent reporting on the performance of any initiative must clearly demonstrate performance based on a set of well thought out metrics. Why should your benefits be any different?
Metrics for your benefits programs and wellness initiatives should include a number of organizational health expectations, alignment to corporate and financial objectives and benchmarks, when those measurements would provide additional value to the organization. Performance to these metrics should be regularly reported and monitored.
Building an organizational health profile and aligning your employee benefit program and wellness initiatives to findings identified by that profile creates an opportunity for multiple success factors: Increased productivity, lower incidence of disability and absenteeism and an increase in the value perception of your benefit programs.
It is crucial that data is collected from multiple data sources. It is very easy to fall into the Reactive Decision Trap when decisions are being made based on data from one source, like data from an insurance carrier. This data is limited and does not provide a 360◦ view of your organizational health. In order to build the most meaningful picture of your organizational health, data must be integrated from the insurance company, HRIS systems, disability programs including Workers Compensation and any other available human capital data, including data collected from a Plan Member Advocacy service.
At AQ Group Solutions we believe that every successful organization requires a human capital strategy that proactively aligns with their business strategy and goals. We created The AQuity 360 Program™ to help you avoid The Reactive Decision Trap™, save time and make more money, attract and retain more great people, and achieve your business goals.
Your business decisions require strategic planning and precision alignment to your overall objectives. Why should your benefits be any different? Call us to find out how you can strategically align your benefits to your corporate and financial objectives.