Renewing a traditional HR conversation cycle to The New Evaluation and a continuous dialogue offers enormous savings potential. Research by Gallup, Deloitte, and LinkedIn shows possible savings in time and money through higher productivity, lower turnover, and lower absenteeism.
The research results
+280% in employee engagement
Research by Gallup shows that a continuous dialogue can increase employee engagement by up to 280%.-44% time needed for HR
Implementing a continuous dialogue supported by the right software results in a 44% time savings for the HR department.-27% time needed for managers
Good conversations reduce the time needed by managers by approximately 27%.+26% in employee productivity
According to Gallup, employee engagement and frequent dialogues increased productivity by 26%.-41% voluntary turnover
A LinkedIn study showed a 41% reduction in voluntary departure.-43% in absenteeism
Gallup found that higher engagement results in a 43% reduction in sick leave.-62% burnouts
A Gallup study showed burnouts decreased by up to 62%.The savings potential
In an organization of 120 employees with 18% turnover, annual savings of 3,800 hours and €135,000 can be achieved.
The ROI
Based on an investment of approximately €5 per employee per month for a software platform that supports creating a continuous dialogue, the annual investment is approximately €7,200. Taking into account an adoption phase, the maximum ROI in the first 3 years will be between 1,200% and 1,600%.
Calculate it yourself
Curious about the savings potential for your organization? Download the free ROI calculator! Fill in your organization's data and calculate how much time and money you can save.
Sources
- Gallup, Performance Management: Ongoing Conversations
- Gallup 2017, State of the American Workplace
- LinkedIn, Internal Mobility Study 2020
- Gallup, Engaged Employees Less Likely Health Problems
- Gallup 2018, Millennials are Burning Out
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