Business Value

How do I ensure I am providing value to the organization?

Business value starts and ends with strategy. Whether your organization is considering investing in a new digital workplace, or you are planning on renovating your current solution. The most important question to ask is: How are you going to measure and maximize the business value to your organization?

Defining your business challenges

Most companies struggle with isolated knowledge workers and a limited understanding of organizational expertise. Corporate knowledge is trapped in the minds, memory, and messages of your workforce, and these barriers hamper productivity, decrease employee awareness, and cripple innovation. Digital workplace solutions are all about breaking down those barriers. 

During the Prep Stage, take the time to define the business challenges you're trying to solve and the value to the organization:

  • What are the key business challenges you're trying to solve?
  • Which challenges have the biggest impact on your business?
  • What audiences (members of your organization) gain the most value from these challenges being solved?
  • Can the value be measured?

Aligning value with strategy and objectives

There’s no one specific way to measure the impact of your digital workplace on your organization. Every company has different requirements, business objectives, culture, and way of doing business. While most executives can inherently understand the value of increased dialog, greater engagement, and better knowledge sharing in the workplace, it’s difficult to measure. 

Before you can begin to think about how to measure the value, you need to clearly understand your business strategy. Context matters and alignment is critical. If intangible assets don't align with the strategy, then little value can be created. Take the time to understand the pillars that drive your business forward, and how the capabilities of your digital workplace support key business metrics. 

When your digital workplace strategy is constructed with specific goals in mind, it's more likely to have a positive impact on productivity, employee engagement, and innovation within your company. Start by defining the culture, strategy, and workflows you’re trying to augment, and compare that with the cost to acquire the technology. As you define the relevant metrics and monitor progress against your goals, you’ll gather the insight required to continuously evolve, and that’s the true measure of success.

Common ways to measure value

There are two ways to measure the success of your digital workplace:

  1. Return on Investment (ROI): Measures the cost savings and/or incremental revenue your digital workplace provides to the organization.
  2. Return on Objectives (ROO)Measures the incremental value the digital workplace brings to your organization.

Measuring objectives and outcomes

A good place to start when building your digital workplace plan is to determine the key objectives and measurable outcomes. This will help you measure business value later on. Here is an example of three business objectives and outcomes to get you started. 

Objectives

Outcomes

Improve employee productivity across the organization
  • Drive corporate performance across the entire company – from your employees, teams, and executives
Drive innovation within a specific team or business unit
  • Bring new ideas to life which accelerate your business – from process improvements to the introduction of new products and services
Create new products and services to build competitive advantage
  • Find ways to set yourself apart – from fostering a unique employee culture to supporting better customer engagement

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