Can we, as a group, define a worksheet to estimate ROI for organizations considering EE?
I am actively prospecting for clients and have developed a first draft of a worksheet for clients to estimate ROI for Employee Engagement improvement programs. Research has validated the hard dollar benefits that can be attained by improving engagement. The data seems to be available ---so how can we make it real for organizations that may be considering engagement activities? Please take a moment and reveiw the attachment and offer your insight---even if it is only for one metric. Does the worksheet include the most relevant metrics? Are there metrics that you would include that are not featured? Would you eliminate a metric? Are there calculations that you might suggest to provide more accurate data? It would be great if the employee engagement network could define an "endorsed" process for estimating ROI. Your thoughts???
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1 ROI Calculator.xls, 19 KB
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Replies to This Discussion
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Permalink Reply by David Zinger on -
Peter:
I have just glanced at this document and appreciate the work you did and the invitation to engage in dialogue and development around this. It is too late for tomorrow's newsletter on the network but I will post something about this for next Thursday. I would love to see our discussion and work grow around the financial benefits of employee engagement.
David
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Permalink Reply by Pete Sitter on
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That would be fantastic David. It seems like we as a group have alot of brain power and experience. If we can tap into that resource to define a tool like this ---it could bring credibility to the process.
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Permalink Reply by Ben Simonton on -
Pete,
I am interested in the research showing the hard dollar benefits of improving engagement. Please point me to same.
I would also be interested in knowing how investigators came to the conclusion that employees were fully engaged. My own experience in managing people indicated that the per person productivity gain is north of 300%.
Best regards, Ben
http://www.bensimonton.com/articles.html
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One of the best resources I have found is the book "Closing the Engagement Gap" by Julie Gebauer and Don Lowman of Towers Perrin. The book details TP's 4year study on the topic. Additionally Quantum Workplace has produced similar work as has Gallup. Watson Wyatt also has data in their 2008/2009 Work USA report. I have added a document that sumarizes some of the results. Let me know if this is what you are looking for.
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Permalink Reply by Ben Simonton on
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Thanks, Pete. I appreciate the pointers.
Best regards, Ben
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Permalink Reply by Tim Wright on -
Pete -
I salute your efforts. A tool that easily translates and evidences ROI of EE strategies and efforts deserves kudos and commendations!
I have entered two comments...within the spreadsheet and am attaching that changed version.
Tim - Attachments:
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Copy of 1ROICalculator.xls, 20 KB
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Thanks Tim,
I will reveiw later this evening ---I appreciate your input very much. Pete.
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