Hi. I am evaluating an employee benefit platform for my firm in India. We are a 100-people company, and the subscription for the product is INR 200 per employee per month. I do have the budget, but I don't know how to calculate the ROI on this spend. The platform claims to improve employee retention and employee productivity through better engagement. I need to prove to the management that this spend will return a good ROI. How do I do that?
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Dear Dhiren Sonigra,
Products are always sold based on their benefits. To understand the benefits, we need to be aware of the product's features. Therefore, for the members of the forum, this question is hypothetical, and we cannot comment on how to calculate its ROI.
I suggest you ask this question to the salespersons of the product. They are expected to know how to calculate the ROI, as they might have sold the product to previous customers. Ask them how those customers calculated the ROI.
Thanks,
Dinesh Divekar
From India, Bangalore
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8072Products are always sold based on their benefits. To understand the benefits, we need to be aware of the product's features. Therefore, for the members of the forum, this question is hypothetical, and we cannot comment on how to calculate its ROI.
I suggest you ask this question to the salespersons of the product. They are expected to know how to calculate the ROI, as they might have sold the product to previous customers. Ask them how those customers calculated the ROI.
Thanks,
Dinesh Divekar
From India, Bangalore
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Presumably, the topics available in this link would provide some input on ROI (human capital) if you are seeking this:
https://www.aihr.com/blog/human-capital-roi/
https://smallbusiness.chron.com/manp...ent-78993.html
https://classpass.com/corporate-well...an-capital-roi.
What is ROI in human resources?
HR ROI stands for Human Resources Return on Investment. It is a metric used to evaluate the financial impact of HR programs and initiatives on an organization. HR ROI measures the value generated by HR initiatives compared to the costs associated with implementing those initiatives. https://www.google.com/search?q=ROI+...ient=firefox-b
How to calculate ROI on human capital?
Human Capital ROI Formula
To calculate the impact of human capital initiatives on your company, you'll use an ROI formula. For example, let's say your company's revenue is $300,000, and your human capital expenses are $100,000. Your human capital ROI would be: ($300,000 - $100,000) / $100,000 = $2.
Please see if it helps to serve your purpose.
From India, Bangalore
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https://www.aihr.com/blog/human-capital-roi/
https://smallbusiness.chron.com/manp...ent-78993.html
https://classpass.com/corporate-well...an-capital-roi.
What is ROI in human resources?
HR ROI stands for Human Resources Return on Investment. It is a metric used to evaluate the financial impact of HR programs and initiatives on an organization. HR ROI measures the value generated by HR initiatives compared to the costs associated with implementing those initiatives. https://www.google.com/search?q=ROI+...ient=firefox-b
How to calculate ROI on human capital?
Human Capital ROI Formula
To calculate the impact of human capital initiatives on your company, you'll use an ROI formula. For example, let's say your company's revenue is $300,000, and your human capital expenses are $100,000. Your human capital ROI would be: ($300,000 - $100,000) / $100,000 = $2.
Please see if it helps to serve your purpose.
From India, Bangalore
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Employee Assistance Program.doc
SAMPLE Employee Attrition Calculation sheet for FY 09-10 .xls