The Math Behind the ROI Calculator
Find out how we're putting the numbers together with the calculator.
Financially stressed employees
Calculation: Number of employees x 0.5
The
PwC 2023 Employee Financial Wellness Survey found that 60% of Canadian employees are financially stressed. Furthermore, 47% of people earning over $100k are also financially stressed. A conservative 50% value is used in our model.
The number of employees mutiplied by 0.5 gives us the number of financially stressed employees, or 50% of the company.
Annual productivity hours lost
Calculation: Financially stressed employees x 156 hours lost annually
A
TIAA Institute study found that financially stressed employees lose on average 4 hours of productivity per week. We've modelled our calculations on 3 hours per week, so 156 hours annually.
156 hours lost per employee, multiplied by the number of financially stressed employees, gives us the total annual producitivy hours lost for the company.
Average hourly wage
Calculation: Average salary ÷ (8 hours x 235 days)
Calculated using an 8 hour work day, with employees working 235 days per year.
8 hours per day, multiplied by 235 days per year, gives us 1,880 hours worked each year per employee. Divide the average employee salary by 1,880 hours, and we get the average hourly wage for the company.
Dollars lost annually
Calculation: Annual productivity hours lost x Average hourly wage
To determine the total dollars lost annually to financial distractions, we take the productivity hours lost for the year, and multiply it by the average hourly wage.
Employee utilization
Calculation: Financially stressed employees x 0.5
A
2023 PwC survey found that 68% of people use financial wellbeing services offered through their employer. We've used 50% to be conservative.
We take the number of financially stressed employees, and multiply by 0.5 to give us the estimated number of employees that utilize ElektraFi.
Hours recovered
Calculation: Employee utilization x 52
A 2023 study by the Journal of Financial Literacy & Wellbeing found a convervative productivity gain of 1 hour per employee per week from financial wellbeing initiatives.
1 hour per week is 52 hours annually, multiplied by the number of employees who utilize ElektraFi, gives us the number of hours recovered each year.
Annual ElektraFi cost
Calculation: Number of employees x $99
Assumes the employer offers an
ElektraFi Pro seat for every team member, at $99 per user per year.
Calculated using the total number of employees, multiplied by $99, to give us the annual cost of ElektraFi.
Dollars gained in productivity
Calculation: Hours recovered x Average hourly wage
Calculated using the hours recovered multiplied by the average hourly wage.
ROI
Calculation: (Dollars gained – Dollars invested) ÷ Dollars invested
Determined using the more conservative Return on Investment calculation method.
First we take the amount invested away from the amount gained, and then divide by the amount invested. The ROI value is then expressed as a multiple.
