Learn How To Calculate The ROI For Your Business
Covid-19 has been a business owner’s worst nightmare. A complete unknown. We have had zero training, zero experience and zero visibility into how this disease may affect our business in the next 12 months. The perfect definition of a moving target.
“Wash your delivery boxes! No, you don’t have to. Do not wear a mask! Wait, yes wear a mask. Open your business! Oops, I mean close your business. Asymptomatic people are not spreading the virus! Wait, maybe they are?”
As the medical and scientific world gets their arms around this mysterious disease, all we can do is listen to the experts and adapt. The one thing that has remained constant is: people showing COVID-19 symptoms can spread COVID-19 to you.
We can work with this! Sick people can get other people sick- easy right? Not so fast…
For years coming to work sick was a badge of honor. John has taken 1 sick day in 10 years and that was only when his grandma died. John was considered the perfect dedicated worker!
John comes in not feeling well and it turns out he is infected with Covid-19. He feels weak, has a slight fever, and food tastes a little different. Here was John’s schedule on his sick day:
- 6:00 a.m. Wake up
- 6:15 a.m. Treadmill
- 6:45 a.m. Shower
- 7:00 a.m. Coffee & breakfast
- 7:30 a.m. Left for office
- 8:00 a.m. Entered building & said hello to receptionist. They exchanged small talk for a minute.
- 8:10 a.m. Worked in office alone
- 11:00 a.m. Entered conference room and participated in a one hour meeting with Joe & Karen. Meeting was about a new product and all were passionately speaking.
- 12:00 p.m. Ate lunch in the cafeteria alone and small talked with passerby’s
- 1:00 p.m. Back to conference room to finish product discussion with Joe & Karen. Dave has joined the group.
- 3:00 p.m. Leaves meeting & goes home early to get some rest. Actually feeling worse at the end of the day.
This is a problem for the owner. Potentially a catastrophic problem.
Best Case Scenario
John recovers in 3 weeks. Dave, Karen and Joe have to self-quarantine for 2 weeks. Everybody is back in the office in 2-3 weeks. Stress and productivity loss.
Worst Case Scenario 1
Dave, Karen and Joe test positive and they had additional meetings with 5 other employees who also had meetings with the remainder of your employees. Shut Down.
Worst Case Scenario 2
Vulnerable in-laws live with Karen and are also exposed. Nightmare!
Business owners are constantly playing the risk/reward game and are frequently calculating return on their investments (ROI). The risk of shut down was clearly not worth the 8 hours of productivity received from John. The scenario 2 potential loss is in the tens of thousands of dollar range with possible loss of life.
The CDC has recommended that employees perform daily health checks. The cost of getting employees to think about their health daily is minimal. Documenting and analyzing is a different story.
Lets put a summary ROI on Scenario 2 above:
$12,000.00 in lost wages (John, Karen, Dave & Joe) +
$6,000.00 in lost wages (2 of the other 5 employees) +
$3,000.00 Legal / HR / Safety (Investigative and preventive measures)=
$ 21,000.00 Potential loss due to 1 positive case!
If John was performing a daily health check, this loss probably would not have happened. Let’s now look at the cost of setting up a daily health check company process for a 6 month period.
Option 1: Assign A Gate Keeper
Company places an employee in charge of capturing the health checks and documenting in an excel or similar file:
$ 18,000.00 spent on wages +
$ 1,000.00 spent on training, software, hardware, etc.
$ 19,000.00 Approx. Total Cost
$21,000 loss saved/
10% ROI (loss/investment)
Option 2: Use Google Docs
Company sets up a google document that employees can use perform daily health checks.
$ 2,000.00 spent on wages (set up and manage the Google Document) +
$ 1,000.00 spent on training, hardware, etc.
$ 3,000.00 Approx. Total Cost
$ 21,000 loss saved/
$ 3,000 investment
700% ROI (loss/investment)
Option 3: Take The Clean Slate Pledge
Company procures Clean Slate Pledge Package and employees use smart phones & the Slate Pages app to perform daily health checks. Unlimited users!
$ 35.00 one-time cost for Clean Slate Pledge package +
$ 75.00 training=
$ 110.00 Approx. Total Cost
$ 21,000.00 loss saved/
$ 110.00 investment
19,000 % ROI (loss/investment)
- “A Dallas Restaurant Employee Tested Positive For COVID-19. What Should Have Happened Next?” Dallas, TX | June 8th 2020
- “Restaurants caught in COVID-19 yo-yo of shutdowns so soon after reopening” St Louis, MN | July 8th, 2020
- “Texas and Florida close bars after explosion of COVID-19 cases” June 26, 2020