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What is a Business Case
A business case is an argument which is usually documented. It is made to convince a decision maker to approve some kind of action.
A business case is prepared to articulate a clear path to an attractive return on investment (ROI). A well-crafted business case tries to explore all feasible and possible approaches to a given problem and enables business owners to select the option that best serves the organization.
Activities that can initially seem to have a positive effect on finances can be detrimental down the line. For example, hiring a person with disability and making accommodations for them may seem difficult and costly in the short term but in such investments he long run all of which contribute positively to the enterprise’s bottom line
Why a Business Case?
A business case normally is made to convince the executives to make certain decisions. Executives are attracted to arguments framed around a business perspective. A business case should aim to:
- bring real benefits into the present
- target people most ready for action
- use research relating to the positive impact diversity has on the performance of work areas.
The Business Case
When someone hires a qualified person with a disability it is expected to bring greater benefits beyond just filling a vacancy. There's a solid business case, too. It can lead to:
Return on Investment
Businesses that recruit people with disabilities work towards converting social issues into business opportunities. These opportunities get translated into lower costs, higher revenues and it all trickles down in the form of increased profits. So they have an opportunity to capitalize on the Return On Investment of employing people with disabilities.
•Access new markets. •Improve productivity through innovative and effective ways of doing business.
- Reduce hiring and training costs.
- Increased retention.
- Reduce costs associate with conflict and litigation.
ENHANCE SHAREHOLDER VALUE
- Capitalize on opportunities to meet business goals.
Customers with disabilities and their families, friends and social circle represent a huge market segment in terms of money. They purchase products and services from companies that best meet their needs. People would opt to patronize businesses that hire people with disabilities. Another advantages of employing people with disabilities is increasing an opportunity for the companies to gain a lasting customer base.
CAPITALIZE ON NEW MARKET OPPORTUNITIES
- Mirror the market to attract a wider customer base.
- Increase your market share.
DEVELOP NEW PRODUCTS AND SERVICES
- Respond to marketplace needs.
- Lead your market.
- Increase profitability.
Innovation is a key to any business’ success. Employees with disabilities bring unique experiences and understanding that transform a workplace and enhance products and services. As part of your team, employees with disabilities help build your business and can lead your company into the future.
- Create more efficient and effective business processes.
- Develop and implement management strategies to attract and retain qualified talent.
- Use technology in new ways to increase productivity.
PRODUCT AND SERVICE INNOVATION
- Stimulate and boost new product and service development through disability-inclusive diverse teams.
- Customize products and services to increase profitability.
DEFINE THE FUTURE
- Encourages the development of next-generation products and services.
A business case includes strategic benefits
10% to 15% of our population has some disability that restricts their life activities. There is an immediate necessity organizations reflect diversity in their workforce. This would prove instrumental in producing programs and policies that take into account the experiences and needs of people with disability.
Diversity increases the flow of many ideas and ensures that we all benefit from a broad range of perspectives. This is especially important to tackle difficult, complex challenges.
Having people with disability would ensure that laws, policies and programs respond to the needs of the community and deliver good practice.
A business case includes workforce planning benefits
Benefits arise from retaining a talented and skilled workforce as a huge number of employees are eligible for retirement in the next 10 years. Thus aging will pressure the economy and so employing the working age population is increasingly important.
Many workers who develop a medical condition can leave the work without fully investigating the reasonable adjustments that could have enabled them to remain at work.
A business case includes technological and professional benefits
Flexible working arrangements enable people with disability to better manage their duties thereby increasing their team’s efficiency.
Technology can help employees with disability to fully use their skills. Adopting as well as adapting technology driven by people with disability will mainstream the productivity benefits of such technology to all staff members, such as those who travel, have work commitments outside a normal office or outside normal office hours.For example, teleworking and work from home can enable an organization it to retain highly-qualified personnel in a highly competitive market.
A business case includes leadership benefits
There are many organizations where most managers already have employees with disability in their teams but may not know it especially those who have invisible disabilities. Also most people with common mental health conditions, such as depression, develop their condition while in the workforce and continue to work. Officially announcing and hiring people with disabilities would help in disability disclosure and this is bound to increase flexible management practices.
There are whole range of positive effects when employees can manage the demands of their work and personal lives, including job satisfaction, productivity and organizational commitment.