Australian Study Highlights 5-to-1 ROI of Special Libraries
In fact, every one dollar investment in special libraries brings 5.43 dollars in return to their organization, according to the study commissioned by our library friends way down there in Oz.
From the press release:
"ALIA [Australian Library and Information Association] Executive Director Sue McKerracher said, ‘Working in the library and information sector, we all recognise the value of special libraries. What is exciting about this report is that an independent firm of economists has been able to put a figure on the value—and that figure is five times the original investment’. "
"The indicative finding of $5.43 for every $1 invested is likely to be even higher. SGS [the firm commissioned to write the study] assessed the benefits provided directly to special library users, including time saved and value of ‘out-of-pocket’ expenses such as journal subscriptions. However, the user focus of the study omitted the return on investment in terms of client outcomes, and SGS said ‘it is highly likely that the benefits of industry libraries outweigh their costs considerably’."[Source: CLA Government Library and IM Professionals Network]
Labels: library evaluation