Performance Management ROI Calculator

Estimate the ROI of ELMO Performance Management 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 Performance Management system.

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 organisation's annual revenue?

What is your attrition rate per year?

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

What percentage of your workforce have management duties?

What is the typical cost to replace an employee in your organisation?

Average = 20% of annual salary for a mid-range position of $85,000 (which equates to $17,000), or as high as 213% for executive positions.^[2]

What is the total average time spent by managers reviewing performance reviews per year?

Average = 210 hours per year.^[3]

What is the average time spent by each employee doing performance reviews per year?

Average = 40 hours per year.^[4]

How many hours does it take for HR to process each employee’s performance appraisals throughout the year?

Guide = 4 hours per employee, per year.

=SUM(C7/100)

E7=SUM(C7/100)*C5*D7

E8=SUM(C8/100)

E10=SUM((C5*E8)*C10)*D10

E11=SUM(((1-E8)*C11)*100)*D11

E12=SUM(C12*C5*D12)

C25=SUM(E7*C9)

C26=SUM(E10*E16)+(E11*E19)

C27=SUM(E19*E12)

C28=SUM(C18*C5*D18)*E18

C29=SUM(C6*F8)*E8

Value Hours Sum

Total Days Saved

Total Cost Savings

First Name

Surname

Email Address

Phone Number

Company Name

Sources:

SHRM: 2016 Human Capital Benchmarking Report
Human Resources Group: Cost of employee turnover is 20 percent of annual salary for a mid-range position of $85,000, or as high as 213% for executive positions
Harvard Business Review: The average manager reported spending about 210 hours – close to five weeks—doing appraisals each year
SHRM: Employees spend 40 hours a year on their performance appraisals, on average

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 Performance Management, so that you can determine whether to further consider ELMO Performance Management for your business. ELMO Performance Management 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.

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

Sources:

Disclaimer: