Measuring the ROI of Workforce Optimization Initiatives in Business Process Redesign Projects
Year: 2024
Type: article
Abstract: The speed at which we are transitioning into the digital world has seen organizations leaning towards Business Process Redesign (BPR) to stay dynamic, competitive and efficient. One dimension of BPR success that is usually not measured (but should be critical) is workforce optimization--programs such as re-skilling, automation of tasks, and restructuring of the workforce strategically. Although a financial payout of capital intensive investments is commonly monitored, there is a clear absence of organized models to estimate the payoff on projects (ROI) based on workforce investment. This paper builds a multidimensional, multidimensional framework on ROI that includes the quantitative metrics, considering the context and ethical factors. Through the mixed-methods approach, the framework enables the organizations to gauge the effectiveness and efficiency of workforce optimization strategies of BPR projects. In the study, risk adjustment and scenario benchmarking mechanisms as well as feedback integration are also introduced as a means to fill a gap between the academic theory and industry practice.
Author: Abdullateef Okuboye
Institution: Hult International Business School
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4413305699