Following are the formulas we use in each area:

Productivity Savings = Number of employees x Average annual salary x 10% (assumes that productivity will improve by 10%)

Absenteeism Savings = Number of employees x Average annual salary x 10% x 20% (assumes that 10% absenteeism will be improved by 20%)

Turnover Savings = Number of employees x Average annual salary x (125% x employee turnover rate x 18%) assumes that the cost of turnover is 125% of an employee's annual salary, and that existing turnover rates will be reduced by 18%

Through the utilization of OTP for people enablement processes instead of manually processing everything, HR admins can expect to benefit from significant time savings. This is due to the overall ease of use of the platform, the smart automations that power recurring processes, the built-in templates that make creating new processes faster than ever, and the analytics and recommendations which make it effortless to interpret your data.

To calculate the HR admin time savings, we conservatively assume that HR admins save 10 hours per month. We also calculate the cost of an HR admin hour by taking the average annual salary and assuming that the HR admins are paid for 52 weeks per year and 40 hours per week.

HR Admin Tim Savings = Number of HR admins x Number of HR admin hours saved per year x Cost of an HR admin hour

Through the utilization of OTP, people managers can expect to benefit from time savings compared to managing people enablement processes manually. This is due to having multiple processes in one platform, unifying the experience, as well as the smart nudges, automations, and analytics that create smoother and faster processes for managers.

To calculate the Manager time savings, we assume that managers save 5 hours per month by using OTP. We also calculate the cost of a manager hour by taking the average annual salary and assuming that the managers are paid for 52 weeks per year and 40 hours per week. While it is likely to be the case that the cost of a manager hour is higher than the average for all employees, we use the average here to remain more conservative with the estimate.

Manager time savings = Number of managers x Number of manager hours saved per year x Cost of a manager hour

An intelligent people enablement platform like OTP becomes crucial to effectively manage employee performance. A few benefits include:

- Saves time and money by streamlining multiple HR and management activities into one integrated solution.

- Provides organizations with the necessary tools to inspect and address issues affecting employee productivity.

- The data gathered through employee surveys and 1-on-1 visibility can inform simple action plans that reduce employee turnover and increase productivity.

- By actively investing in employee enablement, businesses can strengthen their workforce and build a strong foundation for future growth.

In the absence of a people enablement platform, companies are often fighting multiple tools and disparate processes which become a burden on the organization. Due to poorly structured processes, employees lack alignment with company strategy, the environment fails to support employee success, and managers are unable to deliver the individual support to create a culture of feedback and learning. As a result, productivity and engagement suffer, staff turnover increases, and the company becomes less resilient.

OTP offers an integrated suite of tools for Goal Setting & Tracking, 1-on-1s, Employee Surveys, Performance Management. Having these processes in one platform brings alignment, environment, and individual support together to create a holistic, interconnected operating system for organizational success.