Differentiate Your Products: Add iWorkwell's #1
web-based HR resource and generate new revenue
Some of your competitors are considering integrating HR-related content.
Why should you differentiate?
The industry is at a critical juncture with uncommon opportunity. According to Towers Watson in its most recent HR Service Delivery and Technology Survey report:
- 2/3 of organizations use some form of Manager Self-Service (MSS). 39% of organizations are working to increase line managers' people management capabilities and involvement in HR activities.
- Investment in HR technology "continues to grow at an exponential rate." There is a "continued trend toward replacing core HR systems, and a willingness to invest in new technology and partners."
- 88% of employers will spend the same or more on HR technology than last year, and they're not as focused on cost — i.e., tech vendors are NOT competing on price as if they were a commodity.
- While organizations historically replaced their HRMS every 5-7 years, they are now replacing their core HR system every 3-5 years — more frequently than ever.
- 30% will replace their HRMS this year — an all-time high.
Therefore, HR technology vendors should pursue a strategy focused on differentiating themselves with a superior offering.
What do your customers need?
A recent Chief Human Resource Officer (CHRO) Survey by Cornell University's Center for Advanced Human Resource Studies found that the top 3 obstacles to achieving the CEO's HR agenda are inadequate:
- "HR competencies" (58%)
- "HR resources" (35%)
- "Organizational talent" (25%)
— exactly what iWorkwell is all about!
Clearly, employers do want the kind of help that iWorkwell provides.
How will incorporating iWorkwell generate new revenue?
An expanded product will give you an edge over your competitors. You can:
- Charge a premium
- Retain existing customers, and win new ones
— thereby increasing your total profits.
We offer volume discounts, and/or give you a percentage of sales. You can keep that discount as an additional source of revenue, pass along any portion of the savings to your clients, or pay for it yourself and consider this a component expense — an investment in upgrading your existing solution.
Ultimately iWorkwell will improve your bottom line.