“What is the return on investment?” That’s probably the first question a client will ask an integrator when considering whether to install an enterprise communications solution. It’s relatively straightforward to describe cost savings around improved efficiencies, but when it comes to the ROI of an engaged workforce, things get a bit more complicated. An enterprise that is able to communicate visually with timely, relevant content and reach employees on any device consistently, dramatically increases opportunities to create moments of engagement, but what is the tangible value? Instead of the engagement ROI being allusive and immeasurable, consultant Maria Paviour has published an excellent whitepaper titled, “Employee Engagement: The Most Powerful Way to Create ROI”, describing how engagement is not only a proven way to create ROI, but it is also the key to improving overall employee performance.
Paviour cites numerous examples of how employee engagement has created income growth, improved productivity, enhanced client satisfaction, and driven innovation, with a number of important statistics that help prove her case. For example, the top 25 percent of organizations with high employee engagement report two times more profit and seven times more return to shareholders compared to the bottom 25 percent. Similarly, highly engaged companies see productivity levels increase by 18 percent as well as a substantial drop in absenteeism, more staff retention, and less workplace accidents.
One of the most interesting stats that Paviour shares is around innovation. A more engaged workforce is more creative, which leads to new ideas, new workflows, and new products and services. Paviour claims that 59 percent of engaged employees believe that their work fosters their creative ideas. Only 3 percent of less engaged employees make a similar claim.
These are vital statistics that integrators need to use when describing communications solutions that further employee engagement. Enterprise clients need to be reminded that engagement not only creates a sense of belonging and shared aspirations, but it also makes excellent business sense — driving new ideas and the bottom line.
Vern Freedlander is vice president of production services for Montréal-based X2O Media, a Barco company. X2O Media is a leading software developer of real-time visual communications solutions that significantly improve communications throughout the enterprise. With more than 20 years of broadcast television experience as a producer, director and executive, Freedlander oversees all of X2O Media’s content initiatives. He can be reached at [email protected].