Last updated on May 9, 2022 at 06:52 pm
Understanding the ROI of theEMPLOYEEapp
To calculate the ROI of a solution like theEMPLOYEEapp, we recommend addressing the challenges of frontline worker turnover. Through industry research and feedback from our clients, we know sub-par communication impacts lost productivity, time-wasting, and eventual attrition.
Using this calculator will help you estimate your turnover rate, the average associated cost of replacement of those jobs, as well as the benefit of having theEMPLOYEEapp to strengthen communication and offset turnover.
Links and Substantiation:
- WORKPLACE PRODUCTIVITY AND COMMUNICATIONS TECHNOLOGY REPORT – Mitel
- Report sub-par communications costing USD 10,200 annually per employee
- Additionally, the study found that poor communications and collaboration systems cost employees 15% of their average workday.
- According to Oxford Economics and Unum‘s research, the average cost of turnover per employee (earning £25,000 a year or more) is £30,614.
- 74% of employees believe that better communications and collaboration tools would help improve their productivity. Mitel
- Turnover costs employers $15,000 per worker – Employee Benefit News (EBN) reports that it costs employers 33% of a worker’s annual salary to hire a replacement if that worker leaves.
- In dollar figures, the replacement cost is $15,000 per person for an employee earning a median salary of $45,000 a year, according to the Work Institute’s 2017 Retention Report. The study of 34,000 respondents concluded that 75% of the causes of employee turnover are preventable.