Return on Investment Calculator
Find out how can you could save time and money
Calculate Your Potential Return on Investment
* HRLocker Essential does not include CPD and TOIL. You’ll need to ‘zero’ these in ‘Configure Key Process Costs’ to get accurate ROI multiples.
** The Premium plan also includes HIRE, our Applicant Tracking System (ATS), which delivers added value for your recruitment needs. With that, the actual multiples are much higher.
Return on Investment Calculator
Configure Key Process Costs
Select Total Number of Employees
| HR Essentials | HR Professional | HR Enterprise | |
|---|---|---|---|
|
Employees Required: | €600 | €900 | €POA |
| Process | Manually | HRLocker |
|---|---|---|
| Time taken to Process Employee Time-Off request (mins) | 1 | |
| Number of Employee requests per year. Employees (E.g., 15 x 4) | ||
| Administrator hourly cost | ||
| Total Time Taken (hrs.) | ||
| Time Saved (hrs.) | ||
| Total Admin Cost € | ||
HRLocker saving per year. € |
| Process | Manually | HRLocker |
|---|---|---|
| Time Taken to Add New Employee Personnel Records (mins) | 5 | |
| Number of record uploads/yr./employee | ||
| Number of onboardings/yr. | ||
| Adminstrator hourly cost | 5 | |
| Total Time Taken (hrs.) | ||
| Time Saved (hrs.) | ||
| Total Admin Cost € | ||
HRLocker saving per year € |
| Process | Manually | HRLocker |
|---|---|---|
| Number of employee sheets/week (15) | ||
| Time taken to collect, check & file each employee timesheet/week (mins) | 0.5 | |
| Administrator hourly cost | ||
| Total Time Taken (hrs.) | ||
| Time Saved (hrs.) | ||
| Total Admin Cost € | ||
HRLocker Saving/week € | ||
HRLocker Saving/yr. € |
| Process | Manually | HRLocker |
|---|---|---|
| Number of employee docs/yr. to distribute & collect signed/yr. | ||
| Number of employees (15) per distribution round | ||
| Time taken to collect, check & file each document (mins) | 0.5 | |
| Adminstrator hourly cost | ||
| Total Time Taken (hrs.) | ||
| Time Saved (hrs.) | ||
| Total Admin Cost € | ||
| HRLocker Saving/yr. € |
| Process | Manually | HRLocker |
|---|---|---|
| No. of Employees (15) | ||
| Number of Average no. of employee certs/yr. | ||
| Time taken to check, chase & file certs per employee (mins) | 0.5 | |
| Adminstrator hourly cost | ||
| Total Time Taken (hrs.) | ||
| Time Saved (hrs.) | ||
| Total Admin Cost € | ||
| HRLocker Saving/yr. € |
| Process | Manually | HRLocker |
|---|---|---|
| Time taken to check days used & calculate Time Off in Lieu (mins) | 1 | |
| Number of Employee (15) requests/yr. | 1 | |
| Adminstrator hourly cost | ||
| Total Time Taken (hrs.) | ||
| Time Saved (hrs.) | ||
| Total Admin Cost € | ||
| HRLocker Saving/yr. € |
Running Totals and Potential Savings
| Manual Input | HRLocker | Saving | |
|---|---|---|---|
| Time Off Requests | 5320.00 | 354.67 | 4965.33 |
| Onboarding and maintaining personnel records | 875.00 | 125.00 | 750.00 |
| Collect and process timesheets | 46106.67 | 2305.33 | 43801.33 |
| Distribute & collect signed policy documents | 8866.67 | 443.33 | 8423.33 |
| Maintain CPD records & certifications | 7980.00 | 133.00 | 7847.00 |
| Calculate TOIL | 1330.00 | 88.67 | 1241.33 |
| Totals € | 70478.34 | 3450 | 67028.34 |
Return On Investment
HR Essentials
HR Professional
HR Enterprise
What is ROI?
Return on investment (ROI) is a measure of the profits generated by an investment relative to the amount of money invested. It is calculated as a ratio, usually expressed as a percentage, between the profitability of the investment relative to the total cost.
ROI measures how much money was gained or lost on an investment compared to what was initially invested.
Adjust ROI Calculation When Needed
While the basic return on investment calculation works for simple investments, it can be slightly more complicated when additional factors come into play. For example, if there are ongoing costs associated with the initial investment, you will need to factor those into your calculation. If you don’t take these costs into consideration, your ROI may seem higher than it actually is.
Additionally, when calculating the ROI of an intangible asset such as a new marketing campaign or employee satisfaction survey, you’ll need to adjust your calculations accordingly and account for all associated costs and potential profits.
Enhance ROI Through Digital Marketing Strategies
Digital marketing can enhance your return on investment (ROI) if utilized strategically. Consider allocating some of your resources to major digital marketing channels such as Google Adwords, content marketing, and social media management.
Through these strategies, you can create a more targeted approach and build meaningful relationships with potential customers and increase the visibility of your brand.
Your ROI will be driven by converting these relationships into valuable leads and sales.
Downloads that you may find useful
Analyse Results and Refine Tactics for Improved Efficiency
Analysing the results of your digital marketing campaigns is essential to understanding their return on investment. Review performance metrics such as clicks, impressions, and conversions to measure the effectiveness of your efforts. Doing this will allow you to refine tactics and optimize campaigns for improved efficiency and higher ROI.
Employing data visualization techniques, like pie charts and bar graphs, can also help you identify trends over time and determine where best to allocate your budget moving forward.
More HRLocker Calculators
Are you sure that you know everything?
Find out how much are you getting in ‘return’ from ‘investing’ in your employees with this HRLocker calculator.
Being aware of your company’s digital maturity scale is the first step to success. Find out what is yours.
HRLocker’s Bradford Factor Calculator will help you measure your employee’s absenteeism and its impact on your business.
Are you having headaches with staff holiday entitlement? Use the HRLocker’s Holiday Calculator.
Are you ready to automate your HR processes?
No contract, No credit card, No funny business, Just great HR software!
Request 14 Days Free Trial