Divisional Managing Director P&MM
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Organisations with 500 staff waste £2.4m/year through poor engagement

4th Feb 2015
Divisional Managing Director P&MM
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Just a 3% increase in engagement, with a linked 1% reduction in absence and retention could reduce this by £526,000 and impact on customer service and revenues.*

That’s the assessment of a new Employee Engagement Calculator from reward and recognition experts P&MM. 

The calculator is an interactive online tool that uses published evidence to help organisations build a more specific business case for engagement initiatives – and establish measures and targets to drive commercial success.

So if you are responsible for engagement building initiatives within your organisation and need help to identify, “How much should we spend on engagement initiatives?”“What measures and targets should be in place?” and “What return I can expect?” simply input a few figures for your organisation here >>

www.staffmotivationmatters.co.uk/employee-engagement-calculator

The calculator explained

There are two levels of analysis. The first level identifies different staff engagement levels and calculates an estimated cost to the organisation in terms of productivity, absence and retention. The second level enables the indicators to be adjusted and therefore quickly identifies the positive financial impact that different increases in engagement can have, helping define measures and ROI criteria.

The Engagement Calculator uses evidence from recent research and maps it against four key pieces of information provided in a short online survey. The data then provides an impact report that will:

- Help an organisation understand the “lost potential” at the four common levels of engagement (from disengaged to fully engaged);

- Calculate the financial impact of lower levels of engagement on performance, absence and retention across the organisation;

- See the impact of adjusted engagement levels and indicators, creating targets;

- Understand the potential impact on customer service and revenues.

Through this type of analysis organisations can calculate a potential budget, set realistic KPIs and assess the ROI of engagement initiatives such as recognition.

Assess the financial impact of employee engagement and calculate ROI for your organisation using the calculator here >>

 

www.staffmotivationmatters.co.uk/employee-engagement-calculator

*500 employees, based on national averages; £24k salary, +20% benefits, engagement levels on 20% fully engaged, 30% engaged, 30% somewhat engaged and 20% not engaged.

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By JoannaTracey
05th Feb 2015 09:15

It's staggering how fast the cost of employee disengagement adds up! Yet companies across the UK and indeed the world continue to struggle to justify investment in engagement boosting activities such as better benefits, appreciation schemes, wellness programmes, career progression plans etc. Plenty of these initiatives are relatively inexpensive to implement, but combined into a comprehensive package could have a dramatic impact on engagement... and as this tool shows, ultimately improve the bottom line for any business.

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