Innovation Minds ROI
Save Big. Win Big. With Innovation Minds Enterprise Solution.
| Enter basic parameters | ||
|---|---|---|
| Your Employee Headcount | ||
| Average Employee Salary (USD) | Industry Average ($60k) | |
| Employee Turnover Rate (%) | Industry Standard is 15% | |
| Avg. Cost to Replace any Employee (%) | Industry Standard is 33% of annual salary | |
| Revenue Multiplier per Employee | Industry Standard is 3X of annual salary | |
| Absenteeism Cost (%) | Industry Standard is 3% of annual salary | |
| Expected turnover (Headcount * turnover Rate) |
Cost to replace (Avg. Annual Salary * Cost to replace) |
Expected reduction in turnover by higher engagement and innovation (%) |
|---|---|---|
| 150 | 19800 | |
| Savings from retaining talent | 891000 | |
| Headcount | Revenue generated (Revenue Factor * Avg. Annual Salary) |
Minimum productivity boost by higher engagement and innovation (%) |
|---|---|---|
| 1000 | 180000 | |
| Boosted productivity value | 1800000 | |
| Headcount | Absenteeism costs (Avg. Annual Revenue * Cost of absenteeism) |
Expected reduction in absenteeism by higher engagement and innovation (%) |
|---|---|---|
| 1000 | 5400 | |
| Savings from retaining Talent | 2160000 | |
| Innovation Minds | Our Co-Opetitors | |
|---|---|---|
| Your Investment in USD | 30000 | |
| Savings from your Investment | 4851000 | 4851000 |
| Your ROI | 404 | 162 |
*** Consideration of ‘Revenue boost per employee’ and ‘CLTV boost’ by higher customer satisfaction driven by happy employees will increase the ROI further.
Citations & References
https://www.bls.gov/news.release/jolts.t18.htm
https://www.hcmi.co/employee-turnover-cost
https://www2.deloitte.com/us/en/insights/deloitte-review/issue-16/employee-engagement-strategies.html
https://www.cfo.com/strategy/2018/12/metric-of-the-month-business-entity-revenue-per-employee/
https://news.gallup.com/businessjournal/200108/damage-inflicted-poor-managers.aspxy
https://www.bls.gov/cps/cpsaat47.htm
https://www.gallup.com/workplace/236366/right-culture-not-employee-satisfaction.asp
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