Forrester Reports on the Economic Impact of Microsoft Viva
As Hybrid working fast becomes the norm, organisations are facing new challenges when it comes to engaging, motivating and growing their workforce. In a recent "Total Economic Impact Report", Forrester analysed the true business impact of Microsoft's Employee Experience Platform Microsoft Viva.
In a study commissioned by Microsoft and published in September 2022, leading research agency Forrester analysed the total economic impact of Microsoft Viva, an employee engagement experience platform designed for the modern workplace.
To compile their findings Forrester interviewed eight representatives from various organisations. The results were then aggregated into a single organisation. Respondents' organisations had reported difficulties with the implementation of employee experience initiatives prior to the implementation of Viva with common challenges including slow onboarding processes, inhibited employee development and productivity, high attrition rates, and subpar performance on key business metrics.
Bringing disparate employee experience systems together, the Microsoft Viva suite is made up of seven distinctive apps:
Focused on driving productivity and well-being by providing personalised insights into the employee's workday and work-life balance.
Bridges the divide, focusing on culture and communications across the organisation.
Enables employees to build meaningful relationships at work by providing employees with a place to connect with their peers and find belonging at work.
Promotes development and personal growth through the integration of learning into tools and platforms where employees work.
Leverages the power of AI to prioritize knowledge sharing, through the creation of curated pages that make relevant business knowledge accessible to all employees.
Helps keep employees focused on what matters most, with end-to-end goal management aligned to embedded organisational objectives and key results.
The first role-based experience under the Viva banner, Viva Sales helps your sales team eliminate manual data entry to focus on what really matters, customer relationships and closing more deals.
Analysing the business impact of Microsoft Viva, Forrester reported a number of business benefits, including;
A reduction of 50% in onboarding time-to-full-productivity.
Productivity gains thanks to a 75% reduction in content and expert discovery effort.
Improved employee retention
Improved business outcomes and incremental revenue.
Improved employee satisfaction and well-being.
Easier security and compliance with privacy a core tenant of the Microsoft Viva platform.
Analysing the three year risk-adjusted present value of both the benefits and solution license and set-up costs, Forrester reported a composite organisational benefit of $35.9 million over three years versus set up costs of $8.4million, which demonstrates an ROI of 327%.
For further details and to read this report in full, please use the link provided below.