ROO (return on objectives) measures the incremental value your digital workplace brings to your business. Rather than monetization, it's about measuring how well your employees, team, and organization are doing in meeting the business challenges they're trying to address. Measuring the ROO of your digital workplace depends on how well you've aligned your strategy with specific and measurable business outcomes.
Digital workplace solutions often have loftier goals that help improve a company’s performance, but they don’t always have an obvious impact on the bottom line. That’s why you have to set key objectives right from the start. Whether it’s reducing the number of emails sent, aligning your teams around a specific vision, or sharing knowledge more efficiently, you have to be clear on what you’re trying to achieve.
There are two primary categories of intangible business objectives that you’ll want to explore:
- People: talent, knowledge, and relationships that your employees possess
- Culture: employees’ shared values and connection to the company mission
The people perspective
A digital workplace can serve as a platform for maximizing the value of your people, enhancing how you onboard and develop them. It can facilitate the delivery of training, while helping to bring together people across the organization by establishing informal networks that live outside the hierarchy. If you can measure whether the workforce is fully trained in support of a specific goal, or share anecdotes that provide proof of the value of the network, that’s all you’ll need. The more ways people have to learn and access knowledge, the better.
The cultural perspective
As companies grow, a digital workplace can serve as a platform for communication and engagement. It can advance the conversation, build trust, and open up the flow of information and knowledge to, from, and among employees. An assessment of employee perceptions has typically relied on surveys, but tap into the power of technology, too. Use online discussions to foster dialogue and measure participation through analytics. The more passionate employees feel about their jobs and the better they understand overarching goals, the more discretionary effort they'll give.
To get you started, here are three areas where you can set objectives:
Streamline processes and drive operational efficiencies
- Reduce the time spent looking for information, people, and processes.
- Ask employees for ideas on improving productivity and cutting costs.
- Reduce time spent redoing existing work.
- Reduce reliance on physical training centers and improve the productivity of in-house trainers.
- Consolidate disparate technologies.
- Reduce the reliance on support staff and management by empowering employees with self-service tools and knowledge bases.
- Save time with simplified data entry and easy access to line-of-business systems.
Enhance communications, collaboration, and employee experience
- Deliver frequent, transparent, and timely communications to the entire company in an effective manner.
- Connect your leadership teams to keep everyone on the same page.
- Engage people in the corporate culture.
- Align people with the company's vision and objectives.
- Enable easier organizational publishing and inter-departmental information sharing.
- Improve employee satisfaction and retention.
- Foster team collaboration across departments, business units, and partners.
Increase revenue and accelerate time to values
- Deliver better customer experiences and satisfaction as a result of more empowered, educated, and satisfied employees.
- Improve information sharing, consistency, and accuracy.
- Drive incremental revenue from happier customers.
- Reduce the number of unhappy customers and the costs associated with supporting, retaining, and reacquiring them.
- Accelerate onboarding and reduce the need for retraining.
- Generate sales leads and solicit feedback from your employees.
Never discount the intangible or hard-to-measure benefits of your digital workplace solution. While appraising the ROI of your digital workplace, acknowledge the immense untapped, intangible value that's perhaps even more critical than the measured dollars and cents. When properly deployed, digital workplace solutions can dramatically improve corporate culture, knowledge sharing, employee retention, and – as a result – the customer experience.
The people and cultural perspective both ladder up to employee engagement, and there's an abundance of research that shows the hard dollar impact of engaged employees.
1 Dale Carnegie 2 Corporate Leadership Council 3 Johnathan Pont 4 MacLeod
- Engaged employees are 87% less likely to leave the organization.1
- Engaged companies grow profits as much as 3x faster than their competitors.1
- Companies with low engagement scores earn an operating income 32.7% lower than companies with more engaged employees.4
- Companies with engaged employees outperform those without by more than 200%.2
- Most-engaged workplaces experience 2x higher customer loyalty, 2x higher productivity, and 2x lower turnover.3