April Newsletter: Trends, Books, Case Studies, Upcoming Events, and ROI in Enterprise Work Friction Management
Welcome video from FOUNT CEO and Co-Founder, Christophe Martel.
Welcome to the first edition of FOUNT's Monthly Newsletter, the only newsletter focusing on what's trending in the Enterprise Work Friction Management space.
Enjoy thoughtfully curated case studies, podcasts, books, research, upcoming events, actionable insights, and strategies discussed and shared by high-profile, progressive executives at top global enterprises.
NUMBER OF THE MONTH:
FOUNT PRODUCT UPDATE:
We have launched a self-guided, interactive demo of our SaaS platform that you can explore on our home page HERE.
THE MOST DISCUSSED TOPIC:
How to Calculate the ROI of friction reduction initiatives.
A recent Gartner study found that about two-thirds of employees have to “hack” their jobs, meaning they’re forced to find workarounds to existing systems to get their core work done. The kicker: these “hacks” take about two hours per employee every working day.
At scale, that’s huge: at a 1,000-person company, it’s the equivalent of paying 156 FTEs (or 15 percent of your workforce) to do nothing all day, every day. With the average annual salary of $60,000 the annual cost of lost hours is $9.3 million.
Now on calculating the ROI of work friction reduction initiatives.
Total Benefits include both direct financial gains:
increased productivity
reduced attrition
improved CX and increased sales or contract value as a byproduct
and estimated financial values assigned to indirect benefits (like the value of increased employee retention).
Total Costs encompass all expenses related to the initiatives, and any costs associated with restructuring processes.
Even with the conservative estimates of 15% productivity gain, 5% Attrition reduction, and 1% sick rate reduction, and generous $1.2 million in Total Improvement Measures (Total Costs) for the organization with 1,000 employees will result in ROI of 128%.
STILL QUESTIONING IF IT'S THE RIGHT TIME TO ACT ON REDUCING WORK FRICTION WITHIN YOUR ORGANIZATION?
CASE STUDY OF THE MONTH
US100 Healthcare Enterprise reduced early attrition rate by 12% and reclaimed $13.4 M in savings.
CASE STUDY OVERVIEW
Fortune 100 company faced a high early turnover rate of 30%+ among its call center agents. To address this, FOUNT was brought into the picture. A detailed analysis conducted by FOUNT identified key moments of work friction. Insights were used to implement targeted measures. As a result of these efforts, Alpha Healthcare successfully reduced the early attrition rate from 32% to 20%, saving approximately $13.4 M.
Read Full Case Study HERE
BOOK OF THE YEAR:
Robert I. Sutton and Huggy Rao
Recommended by LinkedIn
"The Friction Project - How Smart Leaders Make the Right Things Easier and the Wrong Things Harder".
Based on seven years of research, "The Friction Project" book gives readers the know-how to spot and handle both harmful and helpful organizational frictions, turning leaders into "friction fixers" who can improve workplace efficiency.
The book mentions companies such as AstraZeneca, Uber, JetBlue, Hawaii Pacific Health, Jumbo, and many others have addressed work friction, demonstrating the remarkable impact of these interventions.
Authors go deeper into explaining how leaders can become friction fixers, what challenges they will face, what role organizational design plays, introduce Help Pyramid, and so much more.
PODCAST of the MONTH:
Work for Humans with Dart Lindsley
Podcast explores how leaders can bridge the gap between company needs and employee well-being, proposing work designed as beloved products to enhance both company success and employee engagement.
Connect with Dart Lindsley
UPCOMING EVENTS:
The EXchange, Inc Plenary: 3 key Pathways to leading EX Initiatives
The Exchange is a community of like-minded practitioners with a shared vision to change the world of work through human-centric EX practices.
HR Champion: Discover how to spearhead EX within the HR department.
HR Advocate: Learn how to build a business case for EX and win over leadership.
Business Leader Champion: We'll give you a taste of this exciting approach during the webinar, then dive deep into strategies at our October conference (register now for the full scoop!)
Asana and Bob Sutton LinkedIn LIVE: Work Innovators Live: The science of tech overload
How are executives tackling the challenges of technology-induced friction in the workplace? Join this LinkedIn Live to discuss actionable strategies for overcoming tech overload. Gain insights that will transform how technology is leveraged within your organization, fostering a more efficient and less stressful work environment.
ARTICLEs of the MONTH:
The article explores how AI-enabled tools, like process mining and task mining, are revolutionizing the identification and implementation of operational improvements in businesses. Yes, these tools allow companies to uncover inefficiencies and implement targeted improvements, potentially saving billions. However, a strategic combination of AI-generated insights and expert human interpretation (OUR note: like FOUNT SaaS Platform) is required to effectively translate data into actionable improvements and achieve significant performance enhancements.
==================
Curious about how Enterprises can quantify work friction? Check out FOUNT's interactive demo!
#workfriction
Transformative change and frictionless work in large organizations, enabled by data, AI, and EX.
8moWork Friction Forensics - curated content, actionable insights, and company updates about wasted work, discretionary effort and intent to stay. What else could one ask for, FOUNT Global, Inc.?