Interact Software has introduced its new intranet ROI calculator for businesses. The free online calculator allows organizations to estimate the potential value of intranet software based on simple company details.
For decades, employee engagement and satisfaction have been topics of debate, with communicators, HR specialists, and business leaders trying to improve metrics in their organizations.
The pandemic initiated a major shift towards employee experience, however, with workers demanding outstanding experiences across all touchpoints. In their rush to provide this, many companies are turning to employee experience systems, including intranets. For HR, internal communications, and IT professionals seeking to implement new intranets though, getting financial sign-off can be a challenge.
Interact CMO, Scott Hitchins, said:
“Building a business case for new intranet software may differ from other business suite products in that proving its ultimate financial value to CFOs and other senior leaders can be difficult. Those controlling the company’s purse strings want to know exactly how this new technology is going to deliver a tangible return on investment (ROI) against the financial outlay they’re signing off.”
“An intranet is not a commercial, customer-facing tool that instantly generates revenue,” Hitchins added, “so it can be a challenge for those building a business case to point to a hard ROI figure as the amount that will be returned because of the investment.”
With Interact’s intranet ROI calculator, businesses can calculate the potential ROI of employee experience and use it to build a solid business case.
Based on the potential gains in employee productivity, streamlined onboarding, and staff retention provided by an intranet, communicators and intranet managers can evaluate the likely economic impact.
According to Interact Software, onboarding is one of the areas that businesses can optimize with digital workplace tools. On average, new employees are less productive during their first three months, usually resulting from delayed onboarding and adjusting. However, employers can fast-track this process by using their intranets to preboard and onboard new hires. This eases the burden on existing employees and upskills the new hires faster.
Putting in place internal systems that promote and improve employee experience can help companies improve retention and overall presenteeism and satisfaction of their employees.
For over 15 years, Interact Software has been helping global brands to increase employee engagement and improve employee experiences. Through enterprise-grade intranet software and decades of expertise, Interact provides Fortune 500, FTSE 250, and globally recognized brands such as Levi’s, Domino’s, Teva Pharmaceuticals, and Sony PlayStation, with a powerful way to inform and connect their greatest asset: their people.
Interact has offices in New York, Boston, Tulsa, and Manchester and operates across the whole of the US and Canada, EMEA, and Australia.
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