OUR SERVICES — Applications
We have worked with clients to measure ROI for:
- A current initiative that is already in place
- A new initiative that will be rolled out to a large group or company-wide
- The pilot phase of a new initiative before rolling it out to a larger audience
- a period of time to measure (the last year or two year, for example);
- the participant base (call center employees, engineers, managers, etc.);
- the test group (a group of at least a hundred people who participated in the initiative);
- the control group (at least a hundred people who did not participate in the initiative);
- and the metric by which the ROI is to be measured (for example, sales, customer response time, improvement in manager ratings, etc.).
We work with our clients to prepare them to capture the data they want to measure. Once the initiative is launched and the impact period has been reached (3 months, 6 weeks, 6 months, etc.), the client transmits to us the necessary data. The Human Capital Rx team conducts the analysis and presents the finding to the client within 4-6 weeks.
Working together, we select...
1. A Current Initiative:
Before making expensive changes in an initiative, our clients find it very well worthwhile to first to measure the ROI on the initiative. Is it really necessary to make changes if the ROI is very strong? Equally important is knowing which groups of participants are benefiting from the initiative and which groups may not be benefiting as much.
With an ROI analysis, our clients can focus changes to an existing initiative on the specific segments of the audience who are not responding well to the initiative, and can choose to keep what’s working for the participants who are responding well to it. There may be no need for wholesale change.
2. A New Initiative:
There are many occasions when a client knows that market conditions require that they make an important change for a significant number of employees and wants to know how well this new initiative is supporting the corporate mission. Our methodology links precise financial metrics to marketing, training and other Human Capital initiatives to business strategies, division initiatives, and bottom line profits.
3. A Pilot of a New Initiative:
Sometimes a new initiative is so important, or so expensive, that our clients want to measure the impact of the initiative for a test group prior to a company-wide rollout. Knowing the ROI for the test group gives them important information for making recommendations for the rollout to the rest of the company.
Even more importantly, our analysis can determines which segments of the participating group are responding best to the initiative and which are not (we call this “Optimization”). Knowing this, our clients can first target the rollout to the segments in the rest of the company which are responding well, and make changes in the initiative for those who are not responding well.