244% Percent Return on Investment for Peakon Customers, Total Economic Impact Study Reveals
Study conducted by independent consulting firm reveals how Peakon enables organizations to generate strong return on investment (ROI) through improved productivity, reduced staff turnover, and less absenteeism
COPENHAGEN, LONDON, AUCKLAND, BERLIN and NEW YORK (October 1, 2020) // Peakon – an employee success platform – today released a commissioned Total Economic Impact™ study, conducted by Forrester Consulting, which quantifies the benefits and returns of using Peakon. The study proved a direct correlation between employee success and business success.
A composite organization, made up of interviewed Peakon customers, enjoyed an ROI of 244 percent over three years, equating to a net present value (NPV) of $1.2million.
The study found that, by using Peakon, the composite organization financially benefited in the following ways:
- Savings of approximately $871,000 driven by a 10% reduction in voluntary staff turnover over three years.
- Estimated savings of $755,000 as a result of reduced employee absenteeism, with average absenteeism declining by two days after the first year with Peakon.
- Savings of around $5,200 as HR teams save seven days annually on post-survey analysis: Peakon survey results are delivered directly to managers instead.
- Improved Employee Experience (EX). Peakon customers interviewed for the study repeatedly stated that their EX scores improved following the implementation. As we know from previous research, engaged employees positively impact customer experience, productivity, hiring, and overall profitability.
- Empowered managers. The composite organization found that Peakon helps to empower managers. It makes it easier for managers to address difficult issues, implement changes, and to improve team engagement. Peakon provides suggestions for training and follow-up, in addition to the initial data and team insights.
- Initiating organizational culture change. The study also found that, with Peakon, employees feel heard, and managers can identify and address issues quickly. This helps to facilitate a change in established attitudes and behaviors – and ultimately a culture shift.