As far back as 1991, Researcher C. Brady Wilson estimated that “five to six billion dollars are lost every year in the United States economy because of real or perceived abuse of employees by employers, and this may be a conservative figure.”
In their Employee Rights and Employee Policy Journal article, Loraleigh Keashly and Joel H. Neuman point to a study of 146 VA hospitals and their levels of high involvement: trust, fair treatment, cooperation, and teamwork. Researchers found that a better level of high involvement meant lower costs (in this case, a savings of $51.50 per patient served).
“For the average size VA Healthcare facility serving 23,360 unique patients per year, such an improvement would represent an annual cost savings of $1,203,040. Generalized to the national level, this would amount to an annual savings of over $175.6 million throughout the VHA healthcare network,” they explained. In 1990s money, $175.6 million is more than the entire budget of Jurassic Park.
Imagine what your organization could accomplish with that kind of money.