We know it's a good idea to engage people, right? We even know how to measure it thanks to Gallup and their Q12.
It's interesting, the industry spends nearly $46 billion dollars a year to motivate engagement. We must think it's a good idea.
In fact, recently, we have demonstrated the correlation between engagement and a company's financial performance thanks to the Enterprise Engagement Alliance. Check out the white paper, Economics of Engagement .
But that's just not enough. Today, leadership wants proof. I believe that the lack of metrics proving the value of engagement has been part of the cause behind cancellations. And now we have this lack of confidence thing going on that makes redeployment especially challenging.
So, what are we going to do about it?
Today we announced a strategic partnership with The ROI Institute of Birmingham, AL - designed to bring credible results measurement to engagement programs. Armed with ROI data, leadership can defend existing programs, justify future spend and fuel evidence-based continuous improvement of incentives, meetings, events, rewards, recognition and loyalty programs.
Now for the weapon. The ROI Institute has developed and refined a worldwide accepted method of measuring ROI that includes isolation techniques and strict guiding principles, all in an effort to create results that are credible with C-Level executives. This methodology is used in many disciplines to conduct literally thousands of studies a year in over 40 countries. We're refining the methodology for engagement programs.
Now we just need an army. Our partnership will result in one, two and five day workshops being offered later in 2009 and a series of webcasts being offered through media partners. We want everyone to have the opportunity to develop the skills required to understand and measure ROI.
Our goal... help create a new paradigm where the results of all engagement programs are measured. Big idea? Yup. Can it be done. Definitely. We have to.