The ROI of HR Tech
Much of HR professionals’ time is spent on tedious day-to-day tasks and processes when they have so much more to offer to their organizations.
The good news is that many tasks can be automated using HR software, giving you more time to position yourself as a strategic partner in your organization and focus on what really matters – your people.
Beyond everyday tasks, HR software can save time and money in other ways by providing an enhanced employee experience, reducing turnover, and boosting engagement.
Figuring out just how much time and money HR software can save you can be overwhelming. To help you out, we put together this guide to give you an idea of how much HR software can help you save.
Before we start calculating your own savings, let’s first take a look at an example.
See ExampleJo is the sole HR manager at a small business.
Every week, Jo spends approximately:
25hrs
on administrative tasks
10hrs
on paper-based payroll and time tracking
2hrs
on onboarding new employees
Her salary is
$80,000
She onboards approximately
10 new hires
per year
Her company has
45 employees
Based on this information, switching to a modern HR software platform will save Jo and her company:
$768.00
5 hours per week
on administrative tasks
$1,384.56
9 hours per week
on payroll and time tracking
$153.84
1 hour per week
on onboarding
That’s a total savings of $576.60 per week, or $29,983 per year! ✨
Calculate What You Can Save with HR Tech
Ready to see just how much time and money HR software can save you? Let’s find out!
Company size
Employees
Number of HR employees
Employees
Average HR salary
Per year
Approx number of new hires each year
New hires
Time spent by each HR employee each week on admin tasks
Weekly
Time spent by each HR employee each week on payroll/time tracking tasks
Weekly
Total Savings per Year
$
Beyond the immediate gains in efficiency, HR software also contributes to an enriched employee experience by curbing turnover rates and fostering higher engagement levels.
An investment in HR software is an opportunity for HR professionals to reclaim their time from mundane administrative tasks and redirect it towards strategic initiatives that truly matter – the well-being and development of their people.
About GoCo
Founded in 2015, GoCo.io is modernizing HR, benefits, and payroll with its modern, all-in-one, and industry-leading solutions for SMBs. Headquartered in Houston, Texas, and serving customers nationwide, its mission is to automate manual HR tasks and empower HR professionals to make work a better place.
Unlike other HR platforms, GoCo is built to support existing processes, policies, and providers so that SMBs don’t have to change the way they work in order to adopt a modern HR system. Ready to see how GoCo can help save you valuable time and money with an all-in-one HR software solution?
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