Apr 25 2022
“HR Tech ROI Calculators prove to be quite handy and effective in tracking, analysing and evaluating required metrics. We have collated Top 4 HR ROI Calculators to get you and your HR team started.”
HR metrics are crucial numbers that help businesses measure their human resources and evaluate the effectiveness of their initiatives with HR Software ROI Calculators. When it comes to developing a successful HR strategy, knowing which metrics to track is critical. You can’t improve what you don’t measure. Cost per hire, turnover and absenteeism are some of the key HR metrics that can’t be missed.
Consistently tracking HR metrics help you understand what is performing well, what needs to be improved, and predict the future trends. These insights aid you in recognising your organization's strengths and weaknesses, as well as areas for improvement, and eventually developing an all round people strategy. Here are the Top HR ROI Calculators are as follows,
Darwinbox HRMS ROI Calculator:
This is an Online ROI calculator for cloud-based HCM products. Whether you plan to procure an HRMS or already have one on board, this tool will give a good indicator of the ROI you're looking at and plan your investments towards digital transformation efforts accordingly.
Calculator Link: https://darwinbox.outgrow.us/darwinboxroi
Category: TALENT ACQUISITION
RippleHire Referral Program Calculator:
Assess your employee referral program for free. A strong referral program is critical for retention and top-line impact. Expertise from 100+ referral programs is available in this assessment calculator.
Calculator Link: https://www.ripplehire.com/Assess-Your-Employee-Referral-Program/Home
Talview’s Hiring ROI Calculator:
An easy-to-use tool that helps you find your potential savings by using Talview’s remote hiring and recruitment automation solutions. Simply enter your current hiring numbers and find the time and cost savings you can potentially achieve.
Calculator Link: https://www.talview.com/hiring-roi-calculator
Category: TALENT ENGAGEMENT
Personifwy’s Engagement ROI Calculator:
Remote work has turned workforce engagement into crisis management. Prioritising employee engagement for better employee experience, retention and performance has been an important agenda for HR teams. Personifwy’s Engagement ROI Calculator helps you understand the cost saving benefits of improving employee engagement.
Calculator Link: https://personifwy.com/
Leena AI’s ROI Calculator:
Transform your employee experience with AI. From employee helpdesk to employee engagement, process automation to employee insights, redefine every aspect of employee experience. Estimate the value you can achieve with Leena AI’s ROI Calculator.
Calculator Link: https://leena.ai/roi-calculator
The purpose of Human Resources ROI calculations is to utilise the information to make better HR choices, optimally spend money on technology, and create a high-performing and productive workplace. HR ROI Calculators help you understand trends, concerns, and opportunities by utilising your HR data. You can then plan out new strategies based on your findings.
Calculating ROI can help you get a better understanding of how well your organisation is performing and which areas need improvement to assist you meet your goals. It also helps you evaluate new investments and choose the most profitable one.
Sanika Sarmalkar is part of the Digital HR Advisory & Consulting team at hrtech.in. With a Masters in HRM and a background in creative content writing, she is a HRTech evangelist who aims to encourage Enterprise HR Teams to adopt new-age HRTech solutions, and thereby enable their transition into becoming a Strategic HR Business Partner.
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