6 signs it’s time to start investing in employee engagement surveys
The glaring signs that it’s time for your business to start investing in employee engagement, and how to do it with surveys.
Read MoreSo, what’s the price?
Of course, it’s one of the first things to consider when making an important long-term purchase for our organisations, especially when it impacts your whole team!
We don’t gatekeep here at Stribe, so we’ll let you know straight up that our average employee survey pricing is *£3 per employee, per month.
But that price changes (*can be lower or higher), depending on a few factors like the size of your organisation, the goals you have in mind, and if you are a charity or not-for-profit organisation
The short answer is that survey costs vary significantly.
Employee engagement survey pricing can start from as little as £1 per user, per month – all the way up to over £100,000 for in-depth survey project management.
But you can generally expect the average cost of employee engagement survey software to be between £2 – £5 per person, per month.
Your survey budget will depend on your organisations independent needs and characteristics, however a good rule of thumb is to spend between 1% – 2% of total payroll on employee engagement.
So, for example if your company’s monthly payroll is £200,000 your monthly employee engagement budget should be somewhere around £2000 – £4000.
And if you’re thinking that’s quite a bit of money, we’d encourage you to consider the costs of neglecting employee engagement.
The cost of Stribe is around £3 per person, per month (but that does vary). That cost includes everything you’d expect and more!
Low engagement costs the global economy $8.8 trillion dollars, or 9% of global GDP.
Gallup's State of the Global Workplace 2023 ReportThe cost of employee engagement survey software varies based on several factors, such as the number of users, the features included, and the provider’s pricing model. Some platforms offer tiered pricing or charge per user, while others have a subscription-based model.
Absolutely, yes! If you ask us, the cost of employee engagement can always be justified – given just how much of a positive impact a happy team has on overall business success.
But you probably already guessed we’d say that – so let us demonstrate to you just how transformative engagement surveys can be with statistics from Gallup research.
Organisations with exceptional engagement rates have:
Need we say more? 😊
There’s plenty of benefits to outsourcing your employee engagement surveys or opting for specialised software like Stribe to help you.
It’s often the case that when staff surveys are conducted in-house, employees don’t trust that answers will be kept truly anonymous.
When you work with a third-party that is committed 100% to anonymity, that fear is removed and trust increases, which helps with overall response rates, inclusion of voices and action planning.
There is a science to asking the right questions and how to ask them without bias.
Our survey building tools use proven methods and industry best practices to help you create surveys that effectively capture the nuances of employee feelings, leading to more reliable data and informed decision-making.
The most important thing about conducting surveys is to measure feedback and make improvements.
When you work with a third-party like Stribe, you can be sure you’ll receive in-depth reporting and analysis that go beyond basic statistics.
Our reporting tools do all the hard work for you to interpret data to identify trends, pinpoint areas for improvement, and provide strategic recommendations, enabling you to make data-driven decisions that ultimately improve employee happiness.
*Prices vary and can be lower or higher than the average stated cost. Please enquire for an accurate pricing for your organisation.
The glaring signs that it’s time for your business to start investing in employee engagement, and how to do it with surveys.
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