16. The GoalSpan ROI The GoalSpan ROI Efficiency and Compliance 0.5 to 2 times ROI Process Improvement 2 to 4 times ROI $3,950 – $15,800 $15,800 – $31,600 Turnover Expense Reduction 3% Improvement $49,500 – $247,500 Total ROI: $69,250 – $294,900 Example Company: 100 employees ROI Source: Bersin & Associates
3 founders have broad and extensive experience from internet start-ups to Fortune 250 environmentsTheir common experience at all levels of organizational size and sophistication is that most performance management processes are inefficient and often unproductiveOur primary focus is customization and user friendlinessGoalSpan is founded on the belief that effective performance management is fundamental to the success of any organizationOur value is providing organizations likes your with tools to help identify, develop and retain your best people
Inefficient: The paper process requires significantly more time to complete than our technology solution.Inconsistent: Paper processes lead to inconsistent resultsManagers don’t evaluate all employees the same wayEvaluations are not completed consistently on timeEmployees are not rewarded and compensated with consistent criteriaHigh Risk: Lack of consistent processes and standards leaves companies vulnerable to lawsuits.Difficult to Manage: The paper process needs to be managed manually and leads to high levels of frustration. Phone calls, emails and manual tracking mechanisms consume significant amounts of time.Resource Intensive: Significant resources from both HR and all other managers are devoted to completing the paper evaluation process. This is time that could be spent in much more significant and productive ways.
Automated Notifications:The process of notifying employees about upcoming evaluations and sending due date reminders is taken off the shoulders of management. You simply provide GoalSpan with the dates for your evaluation process and we do the rest.Two-way Evaluations:Evaluations tend to be one sided with the employee being told by their manager how they have performed. With GoalSpan’s two-way evaluations, both employee and manager rate the employee in key performance categories providing an opportunity for productive dialogue. Gap Analysis:The two-way evaluations generates an illustrative and numeric analysis showing the gaps between the manager and employee ratings in the key performance categories. These gaps create a powerful opportunity for manager and employee to engage areas that may need development. Action Plan:The integrated action plan provides an opportunity for mutual goals to be developed for the next period. Clearly defining what expectations leads to better accountability and results.Customization:GoalSpan will customize your evaluation templates to meet your needs - we don’t force you into a standard template. We can customize at an employee level, position level, geography etc. Approval routing can be customized at any level of an organization; group, department or division.
Product demonstration
IMPROVES PRODUCTIVITY: Organizational objectives are better aligned with employee expectations - this alignment creates more engaged employees - Towers Perrin estimates that if a company realizes a 15% increase in employee engagement they will increase their operating margin by 2.4%. Clearly defined expectations raises accountability- raised accountability improves performance. When you align achievement of goals with compensation, this pay-for-performance approach encourages and rewards employees to perform at a higher level.INCREASES RETENTION:If employees feel more connected to an organization, most leaders agree this improves morale resulting in higher retention rates. Defined performance expectations with measured results establishes a better profile for a successful hire. Better hiring improves retention. OPTIMIZES COMPENSATION:Clearly defining performance criteria for incentives/rewards ensures additional compensation expenses are aligned to achievement. This addresses employees being over/under-compensated - common in a subjective, ad-hoc process. REDUCES EXPENSES:Automation removes managers from the notification process and reduces the time they spend conducting evaluations– no more paper chase. By more effectively capturing performance results, compensation can be more equitably allocated across employees, reducing total expense. Higher retention rates reduces turnover expenses which, per a Cornell study, can range from 30% to 150% of annual salary. RISK MITIGATION TOOLS: Consistent and objective performance standards provide managers with a defensible foundation for compensation, promotional, and termination decisions. Low performers can be efficiently managed out of the organization while mitigating the risk of wrongful termination lawsuits. Electronic records are retained in support of these decisions and for potential use in compliance (ADA, EEOC) related issues.Bersin & Assoc research finds that organizations easily realize a up to 200% ROI from productivity and risk mitigation benefits alone.$79 dollars per user which has a compelling and rapid ROI.
Bersin and Associates who is a well know research firm in the area of performance management studied over 700 companies and determined there were three key areas where significant ROI is achieved by companies implementing EPM.We have provided an example of this ROI from a 100 employee company.
At no cost or obligation to the prospect, GoalSpan will take one of their existing manual evaluations and develop a live web template to test.
![GoalSpan ,[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)