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Return on investment

We are often asked about how our solution delivers a return on investment (ROI). The ROI for employee engagement is well documented (Gallup, 2007, 2013) and we have seen this in action with our customers.

In addition to this, one of the core feedback systems within the ImproveWell solution captures tangible ideas from the frontline which can be measured. In order to evaluate the impact, we categorise each improvement idea against a proprietary set of criteria. We recently completed a study of over 1,200 ideas shared by our users and this forms the basis of the calculator presented below.

We also strive for independent assessments of our dataset so we asked the University College London Consulting Society to review our data. We incorporated their findings into the absenteeism and turnover calculator.

Further to this calculator, South West AHSN commissioned an independent evaluation of our work with Royal Cornwall.

Calculating ROI through time savings and financial savings is not an exact science, we have erred on the side of caution when in doubt.

The ImproveWell solution has three core feedback systems including capturing ideas from the frontline workforce. This taps into the frontline to centralise their knowledge and problem solving. This analysis factors in that not all users will contribute to the platform and in our experience there will always be a more active cohort relative to others.

Based on our study of 1,200 ideas, you can expect the following from your rollout of ImproveWell, the savings projected are for a twelve month period.

Calculations

Average absenteeism cost per employee: Community Practitioner (2017) reported that sickness absence costs the NHS approximately £1.1 billion annually. Across a workforce of approximately 1.3 million (NHS Digital, 2020), this equates to a per-employee absenteeism cost of £850 per year.

Average absenteeism rate: 4.8% as of January 2020 in England (NHS Digital).

Average staff turnover cost per employee: The Times (2004) reported that 270,000 people leave the NHS annually, costing at least £1.5 billion. This equates to a per-employee turnover cost of £5,556 per year.

Average staff turnover rate: NHS Improvement (2019) reported a national nursing turnover rate of 11.9%. While this rate varies slightly between roles within the NHS, we have taken this as an indicative estimate for the average NHS staff turnover rate.

References

Community Practitioner. 2017. NHS sickness absence ‘costs £1.1bn per year’. Available here [accessed 12/07/2020]

Gallup. 2007. Return on Investment in Engaging Employees. Available here [accessed 12/07/2020]

Gallup. 2013. How Employee Engagement Drives Growth. Available here [accessed 12/07/2020]

NHS Digital. 2020. NHS Sickness Absence Rates – January 2020, Provisional Statistics. Available here [accessed 12/07/2020]

NHS Digital. 2020. NHS Workforce Statistics – March 2020. Available here [accessed 12/07/2020]

NHS Improvement. 2019. The national retention programme: two years on. Available here [accessed 12/07/2020]

South West Academic Health Science Network. 2019. Another way of Listening: An evaluation of the use of ImproveWell to listen and act on staff ideas for improvement. Available here [accessed 12/07/2020]

The Times. 2004. NHS spends £1.5bn each year on staff turnover. Available here [accessed 12/07/2020]