HR
reporting
(Strategic reports for senior Management):
$0.00
HR
management (New Hire, Terms, etc.):
$0.00
Compliance
documents management (I-9, W-4 etc):
$0.00
Benefit
enrollment (and Post Enrollment) activities:
$0.00
Step 3
Please estimate the
number of hours spent by the entire HR/Benefits and Payroll Department each
Year on the following activities:
Hours/Year
Yearly Cost
Time and
Attendance:
$0.00
Managers
HR training:
$0.00
Total
benefits/compensation statements:
$0.00
HR
strategic planning:
$0.00
Step 4 - ROI Analysis
Manual
management tasks
are costing your HR department the following soft costs annually:
First year estimated cost of
using the EnLinc HRIMS is:
First year estimated cost
savings using the HRIMS is expected to be (Based on 50% time/cost
savings)*:
Under these assumptions, the
HRIMS will pay for itself in the following number of months:
Ongoing
annual cost of using the EnLinc HRIMS system:
Your ongoing (after first year)
annual estimated cost savings using the EnLinc HRIMS is expected to be:
*Based
on
U.S.
government
statistics, an average 300-person company with a 22 percent turnover
generates about 3,300 new-hire and termination documents per year.
These documents include HR
forms such as I-9's, reviews, time cards, W-4's,
resumes, confidentiality agreements, non-complete contracts, HIPAA
information,
insurance applications and so forth.
The average document is
either physically or electronically copied as many as 11
times. The cost of this activity is approximately
$23.
The average document costs
about $25 to file.
The average cost of
retrieving a misfiled document is about $153.
Furthermore, approximately 25% of all misplaced documents are
never
found.
According to an
ROI study conducted by Cedar Enterprise Solutions (Baltimore
2005),
an HR consultancy, online system implementation will
deliver the following savings: a 50 percent reduction in cycle
time, a 60 percent reduction in cost per transaction, a 75
percent reduction in inquiries made directly to HR and a 100
percent payback in one year.