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The Total Economic Impact™ Of StandOut

White Paper Published By: ADP
ADP
Published:  Jun 01, 2018
Type:  White Paper
Length:  22 pages

The Marcus Buckingham Company, an ADP Company, commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study and examine the potential return on investment (ROI) enterprises may realize by deploying StandOut. The purpose of this study is to provide readers with a framework to evaluate the potential financial impact of StandOut on their organizations.

To better understand the benefits, costs, and risks associated with this investment, Forrester interviewed several customers with experience using StandOut. StandOut is an integrated suite that pairs a technology platform with coaching to help organizations achieve their talent activation goals.

\Prior to using StandOut, the interviewed organizations did not have a structured program to improve and measure employee engagement and performance. Organizations used annual surveys and annual performance reviews, and some even encouraged weekly check-ins, but there was no guidance on how to complete these tasks, and the data that was collected was not easily understood or accurate. Due to the lack of structure and length of surveys, adoption was low, further reducing the usefulness of this approach. Managers participated in these activities with varying frequency, but the organizations noted that managers were not well equipped to have conversations with their direct reports about performance. Executive interest in employee engagement was increasing, so the interviewees sought a new solution that could provide coaching for managers, tracking of engagement and performance, and the tools employees need to “do more of their best work,” as one interviewee said.

With StandOut, the organizations now have a cohesive solution, from one vendor, that is both easy to use and manage. The organizations noted a high adoption rate for weekly check-ins, engagement and performance pulses, and coaching workshops for leaders. Over the first year of StandOut use, the interviewees saw dramatic increases in engagement scores. Higher engagement comes from employees rethinking how they work and having what they need to accomplish their best work. With weekly check-ins, managers can have forward-looking conversations with employees about future work. These strengths-based conversations help increase engagement and productivity as well as identify performance problems faster and address those effectively with their direct reports. Improvements in engagement drive productivity and innovation, higher employee satisfaction reduces turnover, and better performance management helps struggling employees become high performers.