Onboarding ROI Calculator

Estimate the ROI of ELMO Onboarding using our simple, online calculator. Receive an estimate of the time and financial savings you could enjoy in a given year by utilising ELMO’s cloud-based onboarding software.

How many employees are there in your organisation?

Including casuals, contractors, full-time, part-time and volunteers, across all sites and locations.

What is your attrition rate per year?

Average = 19%.^{[1] [2]} For example if you have 200 employees in your organisation you will expect to replace 38 people per year.

Excluding the attrition rate, how many additional employees do you anticipate to hire over the next 12 months?

Average = 10.4% of your current workforce.^[3] For example if you have 200 people in your organisation you would anticipate to hire 21 new employees in a year.

On average, how many hours do you spend on end-to-end paperwork for each new hire?

Guide = 8 hours. This can include preparation of offers, various company and personal forms, document scanning, initiating background checks, chasing missing information, assisting in the completion form/document information, data entry into manual or antiquated systems etc.

Estimate the number of hours your organisation spends tracking new hire details with your departmental hiring managers.

Guide = 5 hours.

How many hours would a typical employee spend undertaking their required learning and orientation activities at the commencement of their tenure?

Guide = 16 hours. Includes mandatory training, reading and learning materials.

How many days does it take for your new hire to be productive?

Average = 40 days for clerical roles and 100 days for professional roles.^[4]

=SUM(C6/100)

E6=SUM(C6/100)*C4

F6=SUM(E6*D6)

G7=SUM(D7*C7*E5+E6)

G8=SUM(D8*C8*E5+E6)

G9=SUM(C9*D9*E5+E6)

G10=SUM(C10*0.4)

C20=SUM(E12*G7)

C21=SUM(E12*G8)

C22=SUM(G9*E14)

C23=SUM(G10*E15)

C24=SUM(F6*C16)

Value Hours Multiply

Total Days Saved

Total Cost Savings

First Name

Surname

Email Address

Phone Number

Company Name

Sources:

SHRM: Human Capital Benchmarking Report
Glassdoor: The Hidden Costs of Onboarding a New Employee (& How to Avoid Them)
Labour market Information Portal: Average employment growth rate is 10.4% over the last 5 years
MIT Sloan Management Review: Getting new Hires up to speed quickly

Disclaimer:

ELMO Cloud HR & Payroll provides this ROI Calculator as a tool to help you explore the potential cost savings that your business could achieve when utilising ELMO Onboarding, so that you can determine whether to further consider ELMO Onboarding for your business. ELMO Onboarding ROI Calculator savings are indicative only and are based on a combination of market data as referenced, and your responses to the questions displayed. Actual savings may vary.

Seamless cloud-based payroll and HR solution

Centralise and automate your people management

Attract, engage and select the world’s best talent

Start your new employee’s journey with a personalised onboarding experience

Performance Management system that maximises employee performance and potential

Sophisticated learning management system (LMS), configurable to suit your organisation’s unique requirements

Mix & match any combination of module(s) to suit your organisation's unique needs

Onboarding ROI Calculator

Sources:

Disclaimer: