Determining ROI of HRIS
Consider the following Case Study:
You are a HR Consultant who has been contracted by the Fellows Company.
The Fellows Company would like to implement a HRIS. The company has 200 employees and plans on growing 100% over the next 3 years. Currently, Fellows utilizes Excel and Word for keeping track of employee files. Annually, the company spends $50,000 for the HR Department for the salaries of one HR employee who maintains the employee records. There is an accounts payable clerk who makes $45,000 a year and works on Payroll 2 days per week.
Your project is to help the Fellows Company determine the cost-savings and ROI for a new HRIS. Based on research and the Module Readings, determine the ROI of implementing a HRIS. Estimate the initial cost of implementation of an Employee Records/Payroll HRIS for the Fellows Company. You may make assumptions for costs, if you are unable to discover actual costs of HRIS systems.
Create a 3-4-page proposal that summarizes the benefits and the ROI of a new HRIS. Consider the following in your proposal:
- What functions does the HRIS offer and how will it save Fellows time and money?
- What will be the ROI for the investment? (Consider the initial investment as well as the cost per month/per employee)
- What reassurances can you offer the company to help them feel confident in your recommendation?
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