What’s the Return on Investment?
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Insights and ROI
Insights is a people development company that works with businesses across the globe – helping them to improve the effectiveness of individuals and build better teams across organisations. Insights’ solutions are based on verified psychology, with a focus on building a foundation of awareness for individuals, teams, and leaders to understand themselves and others better, improving their relationships in the workplace.
At the heart of this awareness journey is Insights Discovery, a psychometric tool and engaging learning experience which uses a memorable four-colour model to help individuals understand their behavioural preferences, communication styles, and the value they – and others – bring to their team.
With Insights Discovery you can grow your business
The ROI Methodology is the most used evaluation system. This methodology is implemented in over half of the Fortune 500 companies and many governments, nonprofits, and public institutions throughout the US and 70 countries. The framework of the ROI Methodology categorises evaluation data into five levels, revealing a complete story of programme success.
Case Study: ‘Indeed’ ROI using Insights
They partnered with the global leader in ROI research specialising in L&D programmes, The ROI Institute, to measure the impact of Insights Discovery on the world’s top jobsite, Indeed.
What makes this study special is that the ROI Institute worked closely with Indeed to attribute accurate monetary values to that impact i.e., provide hard ROI numbers that CFOs and owner-operators will appreciate. These numbers are conclusive, credible, and conservative.
Over 9 million people have experienced the benefits Insights brings to self, teams and organisations.
With more than 13,000 employees, Indeed is the number 1 job site worldwide with over 300M unique visitors every month. Indeed strives to put job seekers first, giving them free access to search for jobs, post resumes, and research companies. Every day Indeed connects millions of people to new opportunities.
Evaluation Sample; the sample size for this study was 1,304 participants who participated in the Insights Discovery learning journey between October 2021 and September 2022. Out of 1,304 surveys, 505 were completed and submitted for a 39% response rate.
Programme Results
Reaction Results
Reaction measures the perceived value of the Insights Discovery Learning Programme, and the results are as follows. The team members indicated that Insights Discovery is:
- Important to their personal life/development
- A good use of their time
- Something they will recommend to others
- Important to their team
- Impactful/productive use of time
- Relevant to their needs
- Important to their work
- Something that made them feel connected/joyful/happy
Learning Results
The extent to which the team members knew how to make the Insights Discovery Learning Programme successful is measured at this level. The team members reported that they learned:
- Personal opportunity areas for improvement
- Personal preference through their profile
- To recognise my colleagues’ colour energies/preferences
- To communicate with others
- To adapt to working with others
- To treat others how they like to be treated
- To empathise with others
- To collaborate with others
- To connect with their team by either dialling up or dialling down their colour energies/preference
Application Results
Knowing what to do is one thing; doing it is another. Application measures the extent to which the team members are following the Insights Discovery journey. The team members indicated that have:
- Adapted behaviour to work with others more effectively
- Considered how their actions will impact others when making decisions
- Identified other people’s preferences by observing their behaviour
- Openly shared information and knowledge within the team
- Adjusted their approach to work when dealing with organisational and team-level changes
- Consciously assessed and looked for ways to improve processes
- Encouraged suggestions and ideas from all team members
- Used Insights Discovery in communication with their colleagues
- Trusted team members to execute in the areas of responsibility
- Effectively worked through differences of opinion
- Offered ongoing feedback to others
- Used Insights Discovery in challenging situations
- Used Insights Discovery to navigate the hybrid working environment
Impact Results
The team members indicated that this programme has influenced several tangible impacts. They range from easy to measure and value, to hard to measure and value:
- Retention
- Reduction in days to achieving proficiency
- Individual time savings
- Reduction in the time for promotion (months)
- Innovation
- Agility
- Other
Calculating the Return on Investment (ROI) Calculation
The costs of a programme, including direct and indirect costs vs. the total monetary benefits and costs, the Benefit Cost Ratio (BCR) and ROI are calculated.
The ROI Methodology is designed to be easy to use, valid and reliable, and CEO and CFO-friendly. To achieve this, a dozen standards, labelled guiding principles, guide the use of the methodology to make the ROI evaluation studies conclusive, credible, and conservative.
- When conducting a higher-level evaluation, collect data at lower levels.
- When planning a higher-level evaluation, the previous level of evaluation is not required to be comprehensive.
- When collecting and analysing data, use only the most credible sources.
- When analysing data, select the most conservative alternative for calculations.
- Use at least one method to isolate the effects of a project.
- If no improvement data are available for a population or from a specific source, assume that little or no improvement has occurred.
- Adjust estimates of improvement for potential errors of estimation.
- Avoid use of extreme data items and unsupported claims when calculating ROI.
- Use only the first year of annual benefits in ROI analysis of short-term solutions.
- Fully load all costs of a solution, project, or program when analysing ROI.
- Intangible measures are defined as measures that are purposely not converted to monetary values.
- Communicate the results of ROI Methodology to all key stakeholders.
In Summary
The programme was a positive experience, effectively transcending benefits right down the organisation, at every level. The research in terms of its accuracy and effectiveness is undeniable with the headlines as follows:
- ROI of 2,063%
- Saved Indeed $10m in 1 year
- Reduction in attrition $8m
- Innovation $650k
- Agility nearly $600k
- Time savings over $500k
- Career Progression $365k
- Other $160k
- Reduction in days to proficiency $25k
As well as having a clear and measurable impact on engagement, communication and collaboration the programme has also influenced some very important intangibles as follows:
- Emotional intelligence
- Teamwork (the combined action of a group of people)
- Engagement
- Inclusivity
- Team productivity
- Quality of work
- Reduction of Stress
Integration is key:
Indeed took an established system, Insights Discovery, and made it their own. By 2022, Indeed had accredited 29 Insights Discovery practitioners to facilitate and integrate Discovery within existing Indeed programmes.
Today they leverage Insights Discovery as part of their every-day onboarding, with starters receiving their personal profiles within 3-6 months of employment, and the ROI of that investment is 2063%.
2063% means that for every dollar invested, one dollar is returned plus an additional $20.63
Conclusion
Embedding Insights learning can transform teams and organisations. The conclusive data and research on ROI underpins why this is the one solution for your organisational development and businesses success that you just can’t ignore.
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