ROI Estimator
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Reduction in turnover attributed to improved employee engagement
Forrester's research has shown that companies with the most engaged employees experience half the turnover of their peers. Additionally, these organizations enjoy 81% high customer satisfaction and have a decisive competitive advantage. Interviewees saw employee engagement scores rise after Lattice implementation. Customers credited multiple aspects of the Lattice platform — including OKRs, 1-on-1s (1:1s), and feedback and praise — for this transformation.
The cumulative effects of the Lattice platform enabled a dramatic reduction in employee turnover; furthermore, the reduction in employee turnover can be attributed to an increase in employee engagement. While it is unlikely that most organizations will experience a 90% reduction in turnover, as one of the interviewed organizations did, increases in employee engagement correlate with increases in employee retention.
Admin time saved during review cycles
Prior to Lattice, administrators spent large amounts of time on tedious processes during employee review cycles.
Lattice enabled considerably faster review cycles, thus freeing up administrative time for other high-value activities.
Employee and manager time saved during review cycles
The process of completing employee evaluations can be arduous and time-consuming. This burden is additionally compounded for employees in managerial roles, who are responsible both for their own self-evaluations and in-depth review of their direct reports.
With Lattice, both managers and employees could reclaim valuable time. Interviewees reported that the review process was simpler with Lattice. This was attributed to Lattice's flexibility around deployement and formatting.
When everyone had a batched review exactly the same time, everything came to a standstill for about a week. Everyone would be focusing on writing the review. We rely a lot upon peer feedback in the reviews. There are five peers that are asked for feedback. I was writing up to 20 reviews at the time. Essentially, the company would come to a standstill all at once... About a week's worth of productivity was being lost.
PLEASE NOTE: The underlying financial model for this ROI estimator has been commissioned by Lattice and delivered by Forrester Consulting based on its Total Economic Impact™ methodology. Lattice created this tool and Forrester has not verified it for accuracy or certified its results. Although great care has been taken to ensure the accuracy and completeness of the model used in this tool, Lattice and Forrester are unable to accept any legal responsibility for any actions taken on the basis of the information contained herein. The tool is provided 'AS IS' and Lattice and Forrester make no warranties of any kind.
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