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Survey Ro Ir2
- 1. Survey ROI or Why You Can’t Afford NOT to Pay Attention to the Market Warren Heaps,Partner Birches Group LLC John Palien ORC Worldwide
- 2. The Challenge – How do organizations justify paying for annual survey participation? Is it really necessary? The Solution – HR must demonstrate the value from survey participation in clear financial terms – Survey ROI Let’s take a look at some ways to show how surveys help organizations manage their business more efficiently
- 9. Assumptions
- 10. ROI Calculation In this example, having access to survey data and doing a proper analysis results in a savings of over $23,000, or more than six times the survey cost!
- 11. ROI is easy if there is savings But what if there’s added costs?
Editor's Notes
- Cost of Turnover: Recruitment costs including administrative expenses, advertising, screening and interviewing, and services associated with selection, such as security checks, processing of references, and, possibly, psychological testing. Onboarding and Training Costs: Lost productivity associated with the interim period before a replacement can be placed on the job. Lost productivity due to the time required for a new worker to get up to speed on the job. Lost productivity associated with the time that coworkers must spend away from their work to help a new worker. Costs of training, including supervisory and coworker time spent in formal training, as well as the time that the worker in training must spend off the job. Public relations costs associated with having a large number of voluntary or involuntary terminations in the community spreading gossip about the organization.