In today’s era, where we are not experiencing a time of change but rather a change of era, employees demand real-time assistance, such as a Real-Time Coaching service. However, doubts often arise regarding the tangibility of these benefits, especially in terms of return on investment (ROI). Here we explore how Real-Time Coaching, particularly My Beat Coach as a solution, not only retains and attracts talent but also translates into real and measurable improvements in productivity and EBITDA for a company.
Demonstrating Tangible Benefits
Often, executive committees or C-Suite Level working groups disagree on the perception that investing in coaching services is an investment without measurable returns. Setting aside potential struggles over what is called budget allocation, where business units see their figures compromised and oppose investments in other areas, especially those related to People & Talent, this article will focus on challenging that perception by demonstrating concrete benefits on several fronts:1. Talent Retention and Attraction
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- Retention: Maintaining, rather than merely retaining, talented employees is a constant challenge. An employee who feels valued and supported in real-time is less likely to seek opportunities outside the company, especially when, due to social acceptance principles, they have access to assistance under total anonymity, avoiding the fear of asking for help from their line manager.
- Attraction: A supportive environment with continuous development attracts the best talent in the market, eager to work in companies that invest in their growth and offer real-time assistance with total privacy.
2. Improvements in Productivity
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- Presenteeism: The low productivity of employees who, although present, are not engaged, drastically decreases with the support of real-time coaching, as this assistance becomes a lever for improvement, both mentally and in terms of work performance.
- Absenteeism: Absenteeism, which includes days not worked due to health issues or lack of motivation, significantly decreases with coaching conversations that address problems before they escalate into absences.
3. Impact on EBITDA
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- Improvements in productivity and reductions in absenteeism and unhealthy turnover (employees leaving the company due to job dissatisfaction) have a direct and positive impact on EBITDA, not only due to low production but also due to the workload in recruitment.
Calculating ROI
The ROI of a real-time coaching service like My Beat Coach is measured using a formula that includes several constants and variables based on real application data and studies from large HR consulting firms:- Absenteeism/Presenteeism:
- The hidden costs of absenteeism and presenteeism are significant. Studies estimate this cost at over €12,000 per employee per year. In a company of 100 employees, this can translate into an indirect cost of €1.2 million annually.
- Cost of Unhealthy Turnover:
- Unhealthy turnover (employees leaving the company under non-optimal conditions) incurs costs related to recruitment, training, and decreased productivity. My Beat Coach reduces these costs by improving employee satisfaction and engagement.
- Cost of the Application Itself:
- Although the application represents a cost, its positive impact on productivity and employee well-being far exceeds this investment.
- Positive Pygmalion Effect:
- A motivated employee not only improves their own productivity but also positively influences at least three colleagues, amplifying the benefits of real-time coaching.
Clear and Measurable Results
My Beat Coach presents ROI results in two formats:- Percentage: Visualization of the impact in terms of percentage improvement.
- Monetary: Presentation in clear monetary terms, showing savings and benefits in euros.