Applications for The Vienna Index™
What are some of the uses for the Vienna Index?
The Vienna Index is used to:
- Measure the financial performance (ROI, Productivity and Profit Sensitivity) of an organization’s entire investment in human capital over time.
- Provide executive management with credible financial information to make investment decisions on human capital strategy.
- Compare the performance of business units.
- Report the human capital investment performance to the organization’s Board.
- Compare and assess the performance of the human capital investment in corporate transactions.
- Measure performance in relation to peers.
What is the Vienna Index specifically designed to help me do?
The Vienna Index is designed to:
- Measure your organization’s return on its investment in human capital over time, including progress against plans.
- Identify the human capital strategy levers to improve productivity, thereby improving the return on the human capital investment.
- Help bridge any gap between human resources and the C-suite with respect to people programs needing to be implemented to improve business performance.
How onerous is the process of gathering the necessary data?
To set up the Vienna Index, the typical time investment to collect the necessary data is one day. The process is to identify at the account level: human capital cost items, financial capital cost items, revenue, profit (EBITDA) and raw material costs, if applicable from the financial system. The typical time commitment for ongoing reporting is anywhere from one hour to one day depending on an organization’s financial system. In most cases, this is a simple MS Excel extract file from the financial system.
Do I need a specialist or consultant to interpret the results and receive value from the Vienna Index?
No. What is needed, as with any business intelligence measurement tool, is an individual to dissect, analyze and interpret the results, and determine the actions necessary to increase the return on the organization’s investment in human capital. This could be an individual/s within the company or an outside advisor.
Does the Vienna Index have to be used for the entire organization?
No. An organization may prefer to pilot test the Vienna Index with one or two business units before implementing it for the entire organization.
How is the Vienna Index priced?
The Vienna Index pricing consists of a set-up fee and an annual subscription fee. The set-up fee is based on the number of business units and periods of history for which the Vienna Index values will be calculated. The annual subscription fee is based on the number of business units and the number of times per year the Vienna Index values are calculated.
How do we get started?
To get started, contact either Vienna Human Capital Advisors, LLC directly or a Vienna Index strategic distribution partner or agent. They will be happy to answer any questions, meet with you for a demonstration of the Vienna Index, and provide you with a written proposal and implementation action plan.