Try Our Employee Onboarding Savings Calculator to Compute for Your Onboarding Savings and Get an Estimate of How Much You Can save with Employee Engagement for Your Company Today

Don't underestimate just how much cultivating a good employee experience can help in boosting employee productivity and improving employee engagement. With an investment in these metrics, your company will experience not just a boost in overall efficiency but a positive impact on company savings, ROI of employee engagement, and the bottom line too.

Breaking Down The ROI: How is employee engagement measured?
The significant impact of having high employee engagement manifests in multiple areas of the business. The improvements across several Key Performance Indicators can help you make a compelling business case.

We calculate ROI based on certain employee engagement metrics: Productivity
Having a highly engaged workforce means your active employees tend to be happier with their position, be it operational or executive positions. Engaged employees also tend to be more connected to the company and its mission. As a result, you are less likely to experience lost engagement when employee engagement is high.

Retention
Companies that have an effective onboarding process and performance management are more likely to experience fewer employee turnover. This means your employees are staying not just because of a paycheck, but also because they genuinely care about the work they're doing and the business's success. On the other hand, replacing a disengaged employee with a new hire could cost you around $7,000.

Customer Satisfaction
Over 80% of HR professionals have said that engaged employees have a significant impact on customer service and satisfaction. Highly engaged teams are more likely to go the extra mile to find a solution to a customer's problem, follow up afterwards, and be more resilient when faced with criticism.

Attendance
Employees who are emotionally committed to working consistently arrive on time and put all their efforts to complete a full day's work. They are unlikely to call in sick or pace around the office while waiting for the clock to signal the end of the workday.

How does employee engagement save you money? ‍
‍Employees are the lifeblood of every company. When your employees are healthy, well-adjusted, and happy with the organization, they are more invested in both the company's success and their work. HR leaders are seeing an increasing trend in good engagement leading to increased productivity and an improved overall employee experience. If you want to understand how the employee journey - from good onboarding and sustained employee engagement - helps positively impact business savings, take a look at the different ways increasing employee engagement impacts work, and happiness on the job, and can result in increased company savings and other financial benefits.

‍1. Employee Productivity is Boosted
Highly engaged employees are more interested and invested in their work. This renewed investment has a tangible impact on their productivity. And when productivity is optimal, the business sees a positive impact all around from revenue to sales to customer satisfaction.

‍2. Employees are Healthier ‍
‍According to employee data, workers who are not stressed at work or experiencing toxicity in the work environment are less prone to getting sick or experiencing burnout. Healthy employees are not only better focused they also take fewer sick days which can decrease absenteeism.

‍3. Employees Stay Longer
One of the biggest ways that good engagement and improved employee experiences can help a company save is by the positive impact it has on employee retention. It can be very expensive when employee turnover is high and the company has to keep onboarding and training new staff regularly. The cost of losing an employee can range from tens of thousands of dollars to twice the employee's annual salary. If existing employees feel happy, healthy, and satisfied on the job they won't feel the need to look for opportunities elsewhere. This increase in loyalty bolsters your talent ROI and ensures your teams stick together longer. Employees may even refer friends and family to your organization.

What is the cost of disengaged employees?
• A disengaged employee earning an average salary of $30,000 will likely cost you $5,000 or more.
• Disengaged employees costs around 18% of their annual salary.
• Having disengaged employees leads to up to 21% lost productivity.
• A Gallup study found that businesses with engaged employees have 59% fewer turnover rates.

At the end of the day, investing in employee engagement initiatives for your people will boost your revenue in a variety of ways. Do you want to see the numbers that prove it? Are you looking to measure the cultural impact and cost savings that an engaged workforce would give you? Our calculator tool can show you actual savings figures to show you how the employee experience helps benefit your business. Qualee serves companies of all sizes, with any number of employees, in all industries. Your company's unique attributes will determine your potential savings from strong employee engagement and productivity. Enter your variables and our calculator tool will reveal just how much value can be realized by using Qualee.