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2009/2010 Communication ROI Study™

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2009/2010 Communication ROI Study™ 2009/2010 Communication ROI Study™ Originally published by Watson Wyatt Worldwide Capitalizing on Effective Communication How Courage, Innovation and Discipline Drive Business Results in Challenging Times A presentation to IABC San Diego by Christine Infante, Kathleen Drummond September 15, 2010 © 2010 Towers Watson. All rights reserved. What We’ll Cover Today How companies with highly effective communication: z Have the courage to talk about what employees want to hear in challenging times. z Focus on innovation and use new tools to keep employees engaged in the business. z Have the discipline to plan and measure success. But first, some background on our study towerswatson.com 2 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. About the Study z Links effective communication and financial performance z Fielded April through June, 2009 z 328 companies participated, representing 5 million employees 2009/2010 Participation Australia, 20 Canada, 40 United States, 141 Middle East, 62 Europe, 65 towerswatson.com 3 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. Defining Communication Effectiveness Companies get a communication effectiveness score based on survey responses Companies are ranked Communication and grouped Effectiveness Score Look at 5-year financial High, 25% performance Regression shows firms 50% with high scores are also best financial performers Low, 25% towerswatson.com 4 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. Key Findings: Highly Effective Communicating Firms Better financial performance • A 47% higher total return to shareholders (2004-2009) Invest in employee communication • Spend 28% more per employee ($257 high vs. $200 low) towerswatson.com 5 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. Key Findings Effective Communication is a Leading Indicator of Financial Performance Return on Investment by Communication Effectiveness $140 $120 $130 $100 Low communication $80 $100 effectiveness $83 $60 High communication effectiveness $40 $20 $0 2004 2009 towerswatson.com 6 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. What Do the Best Do Better? Effective communicating firms are more likely to… 5 4 5x 3 3x 2 2.5x 1 2x 0 Times more likely more Times Use social media Have a clearly Train managers to Use branded defined EVP lead through approach to talk change about compensation and benefits towerswatson.com 7 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. Highly Effective Communicators have the COURAGE to talk about what employees want to hear in tough times © 2010 Towers Watson. All rights reserved. Be Courageous When the Communicate the “new” employment deal (EVP) going gets Help employees tough – highly understand what they effective have now communicating Train managers to help companies: employees manage change towerswatson.com 9 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. What’s an EVP? The Employee Value Proposition z Also known as the “employment deal” z What the employee can expect from the company and what the company expects from employees z Includes pay, benefits, development opportunities and work environment Do you have a formal EVP? Employees 74% Employers 28% 0% 10% 20% 30% 40% 50% 60% 70% 80% towerswatson.com 10 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. Employee Engagement Is Down Drop in employee engagement on engagement index All 2008* 100 employees 2009 91 -9% Top 2008* 119 performing employees 2009 92 -23% *2008 score set as baseline Source: Original Watson Wyatt 2009/2010 Strategic Rewards Report towerswatson.com 11 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. The Employee Value Proposition Has Changed PAY & BENEFIT PENSION CONCESSIONS FREEZE SALARY FREEZE REORGANIZATION/ RESTRUCTURING CUTBACK IN TRAINING BENEFIT CHANGES MANDATORY FURLOUGHS ADDITIONAL JOB RESPONSIBILITIES DOWNSIZING HIRING FREEZE COST SHIFTING LOSS OF PERKS 401(K) MATCH SUSPENDED towerswatson.com 12 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. Only 14% Are Talking About The New EVP The best have a clear EVP and align it to their brand Made the EVP part of our 36% communication strategy 18% 27% The best are 2.5 times more 50% likely to have a Have aligned the EVP with our 16% clearly defined external, customer-facing brand 33% EVP 62% Have a clearly defined EVP 23% 47% 0% 20% 40% 60% HIGH COMMUNICATION EFFECTIVENESS LOW COMMUNICATION EFFECTIVENESS ALL PARTICIPANTS towerswatson.com 13 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. The Best Use a Branded Approach... Organizations with a coordinated and branded approach to communicate the total value of health- and wealth-related benefits 60% 50% 52% The best are 40% 5 times more likely to have 30% a branded 28% 20% approach 10% 10% 0% ALL PARTICIPANTS LOW COMMUNICATION EFFECTIVENESS HIGH COMMUNICATION EFFECTIVENESS towerswatson.com 14 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. …and it Makes a Difference for Employees Employees at my organization understand … 40% How pay levels are set 13% 20% The best help employees The value of their 41% understand their pension program 16% current programs 27% How our bonus 56% program works 20% 36% The value of their 63% health care benefits 28% 43% 0% 20% 40% 60% 80% HIGH COMMUNICATION EFFECTIVENESS LOW COMMUNICATION EFFECTIVENESS ALL PARTICIPANTS towerswatson.com 15 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. Regional Differences are Significant When Communicating the “True Value” of Total Rewards Canada 61% Europe Percent of companies United States 48% 33% reporting high Middle East effectiveness 50% Australia 33% All 45% towerswatson.com 16 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. Train Managers to Help Employees Change 50% management 35% Treat training 43% managers as a unique and 47% Communication important training 34% 42% audience 0% 20% 40% 60% HIGH COMMUNICATION EFFECTIVENESS LOW COMMUNICATION EFFECTIVENESS ALL PARTICIPANTS towerswatson.com 17 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. During Times of Change, Managers Play an Important Role 61% Dealing openly with 18% resistance to change 33% Managers Addressing the needs 64% take the and concerns of 22% initiative to remaining employees 42% keep employees Supporting the executive 73% management vision 29% engaged in through their actions 47% tough times Increasing 73% communication with 27% employees 52% 0% 20% 40% 60% 80% HIGH COMMUNICATION EFFECTIVENESS LOW COMMUNICATION EFFECTIVENESS ALL PARTICIPANTS towerswatson.com 18 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. Highly Effective Communicators focus on INNOVATION and try new tools to keep employees engaged in the business towerswatson.com 19 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. Be Innovative When the Align employees to the going gets needs of the business – and with customers tough – highly Increase face-to-face effective communication communicating Try new tools to reach companies: employees in real time towerswatson.com 20 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. Significant Regional Differences When it Comes to Talking About the Business Middle United All Australia Canada Europe East States Helping employees understand the 60% 48% 53% 60% 56% 65% business Providing information on organizational 56% 60% 63% 54% 44% 61% performance and financial objectives Increasing productivity 46% 36% 57% 49% 48% 42% Communicating to employees on how their actions affect 45% 36% 51% 40% 48% 46% the customer towerswatson.com 21 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. Increase Face-to-Face Communication Middle East 36% Europe 51% My company Canada 56% has increased the use of Australia 59% face-to-face United States 61% communication over the past 24 Overall 55% months? High effectiveness 65% Low effectiveness 45% towerswatson.com 22 © 2010 Towers Watson. All rights reserved. Proprietary and Confidential. For Towers Watson and Towers Watson client use only. Try New Tools to Reach Employees in Real Time Europe 27% Canada 38% Percentage United States 41% of participants Middle East 45% that have Australia 55% increased their use of All participants 40% social media High effectiveness 53% Low effectiveness
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