It is hard to put numbers with things like improved collaboration, improved communication, and decreased turnover. However, with a little research, and a lot of number-crunching, Cloverleaf is able to give you personalized savings in all three categories.
In creating our ROI tool, we stared at the blank Google search engine for a few minutes before we began to search phrases such as, “quantify employee engagement”, “how to measure productivity”, and “average turnover rate”. We then skimmed articles for any and all numbers, dollar signs, and percentages. Some of the most useful information we found came from articles on Forbes, Nielsen, People Keep, and Entrepreneur.
After finding all our data, we were able to come up with an equation for all three categories. Our necessary inputs for each equation were number of employees, number of teams, average employee wage, and turnover rate. The equation for improved collaboration includes a statistic stating that a team with more diverse and collaborative members performs 46% more effectively than one without. Improved communication includes the statistic explaining managers spend 25% of their time handling conflict, with improved communication this could be reduced. Knowing the average turnover rate is 15 percent, we were able to create an equation for that as well.