Calculating hr the real value of hr software - Tài liệu tham khảo | Đại học Hoa Sen
Calculating hr the real value of hr software - Tài liệu tham khảo | Đại học Hoa Sen và thông tin bổ ích giúp sinh viên tham khảo, ôn luyện và phục vụ nhu cầu học tập của mình cụ thể là có định hướng, ôn tập, nắm vững kiến thức môn học và làm bài tốt trong những bài kiểm tra, bài tiểu luận, bài tập kết thúc học phần, từ đó học tập tốt và có kết quả cao cũng như có thể vận dụng tốt những kiến thức mình đã học.
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CALCULATIN The Real Value of HR Softw
From reducing turnover to boosting employee experience, HR software a
HR has a lot to offer. But if all of HR’s time is eaten up consume valu
by day-to-day tasks like answering benefits questions or at the numbe
tracking time off, they’ll never be able to take on more with HR softw strategic initiatives. of the number BASELINE NUMBERS MEET CAROLINE. She’s an HR Generalist.
HER SALARY AND BENEFITS $33 per hour $65,000 per year
Source: PayScale, U.S. Bureau of Labor Statistics ONBOARDING SOFTWARE +$5,450 Total Savings
BREAKING DOWN THE NUMBERS
From preparing and processing forms to setting up a new But automati
workspace, the onboarding process takes about 11 hours investment b
out of Caroline’s schedule every week anytime there’s not sound lik a new hire.1 if there are 30 TRADITIONAL ONBOARDING
11 HOURS X $33 PER HOUR = $363 in HR time
$363 X 30 NEW EMPLOYEES $10,900 spent per year $0 $2,000 $4,000 $6,000 $8,000 AUTOMATED ONBOARDING
5.5 HOURS X $33 PER HOUR = $181
$181 X 30 NEW EMPLOYEES PER YEAR $5,450 spent per year $5,450 annual savings $0 $2,000 $4,000 $6,000 $8,000
T H E ST R AT E G I C VA LU E O F O N B O A R D I N G S O F T WA R E
Engagement: When employees believe Retention: Effective onboarding
their organization’s onboarding soft-
software boosts new hires’ confide
ware is effective, they are 5x as likely
in their decision to join your
to report high levels of engagement.2
organization, reducing turnover by as much as 30 percent.3
Source: 1Automating the Onboarding Process to Realize Significant Return on Investment, 2Previously unp ELECTRONIC SIGNATURES +$14,600 Total Savings
Caroline’s entire organization spends a lot of time distrib- Her company
uting, signing, and tracking important documents to keep by cutting pap things running smoothly. onboarding p
But using e-signature software could save them up to 40 working hours per month.5
40 WORK HOURS X $23 PER HOUR =
$20 SAVINGS PER DOCUMENT X 15 $920 $300 savings per month savings per new hire $11,000 $3,600 annual savings
savings for every 30 employee
T H E ST R AT E G I C VA LU E O F E L E CT R O N I C S I G N AT U R E S
Efficiency: E-signature software reduces signed document Employer Bra
turnaround times by as much as 90 percent.7 talent, as 92 p to work for an
Source: 5The Real Cost of Productivity, SignNow, 6SignNow, 7SignNow, 8MonsterTrak.com TIME-OFF MANAGEMENT +$55,200 Total Savings
Caroline has to keep track of employee time off on a manual FOR A SINGLE E
spreadsheet, which takes a lot of time and careful attention. 1 day = $184
Plus, this puts her organization at risk for inaccuracies and
increased absenteeism. An average employee takes up to
three days of unreported PTO per year when organizations
have poor tracking capabilities.9 $184 X 3 DAYS =
Time-off management software allows everyone in Caroline’s
organization to request, approve, and track time off instantly. $55 savings per em $0 100 EMPLOYEES $55
AN AVERAGE EMPLOYEE TAKES UP TO savings per ye 3 days
of unreported PTO a year $0
T H E ST R AT E G I C VA LU E O F T I M E - O F F M A N AG E M E N T S O F T WA R E
Efficiency: Automated time-off tracking helps you better High Performa
manage employee absences, which cost businesses about off manageme
six percent of annual payroll.10 increase up to
Source: 9AppMail report, 10Total Financial Impact of Employee Absences Across the United States, China, Au
11 Aberdeen report, TLNT EMPLOYEE SELF-SERVICE +$19,000 Total Savings
But what really takes up most of Caroline’s time are all Employee se
the day-to-day administrative tasks of HR, like answering organization
questions or updating employee information. and manage everyone. Se required for a or two hours
HR GENERALISTS SPEND AROUND 60 PERCENT OF THEIR TIME ON SELF-SERVICE
OPERATIONAL AND ADMINISTRATIVE ACTIVITIES12 ADMINISTRATIV 60% = 60% 40 — 60% 5 HOURS per day 3 HOURS X $33 = 365 DAYS x $79 $79 $19 savings per day savings per y
T H E ST R AT E G I C VA LU E O F E M P LOY E E S E L F - S E R V I C E
Efficiency: Employee self-service
Competitive Advantage: Self-service
software allows HR to serve 10
boosts your organization’s performa percent more employees.
making those with such software ab
50 percent more likely to achieve Be in-Class status.
Source: 12The State of Strategic HR, BambooHR, 1 E
3 mployee Self-Service: A Strategic Approach, Sierra-Ced
TOTAL ANNUAL SAVINGS FOR CAROLINE’S COMPANY $55,000 $50,000 $45,000 $40,000 $35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $0 Onboarding Software Electronic Signatures Time-Off Management E +$5,450 +$14,600 +$55,200 + ⁼ $94,250 ANN
T H AT ’ S E N O U G H TO . . . x 31,000 $900 x 100
Fill the break room with Send every employee on 31,000 popsicles. a $900 shopping spree.
HR software sets you free from day-to-day tasks so you
can tackle turnover, increase engagement, kick burnout
to the curb, and more. Start a free trial of BambooHR today.