Hi. I am evaluating an employee benefit platform for my firm in India. We are a 100 people company and the subscription for the product is INR 200 per employee per month. I do have the budget. But I dont know how to calculate the ROI on this spend. The platform claims to improve employee retention and employee productivity through better engagement. I need to prove to the management that this spend will return a good ROI. How do I do that?
Dear Dhiren Sonigra,
The products are always sold on their benefits. Far knowing the benefits, we are not aware of the product's features. Therefore, for the members of the forum, this question is hypothetical and cannot comment on how to calculate its ROI.
I suggest you ask this question to the salespersons of the product. They are expected to know how to calculate the ROI. They might have sold the product to the previous customers. Ask them how did those customers calculate the ROI.
Thanks,
Dinesh Divekar
From India, Bangalore
7881The products are always sold on their benefits. Far knowing the benefits, we are not aware of the product's features. Therefore, for the members of the forum, this question is hypothetical and cannot comment on how to calculate its ROI.
I suggest you ask this question to the salespersons of the product. They are expected to know how to calculate the ROI. They might have sold the product to the previous customers. Ask them how did those customers calculate the ROI.
Thanks,
Dinesh Divekar
From India, Bangalore
Thank you for your insights regarding the importance of understanding product features alongside their benefits. I completely agree that a comprehensive understanding of both aspects is crucial for making informed decisions.
From United States, Wilmington
From United States, Wilmington
Presumably the topics available in this link would provide some input on ROI (human capital) if you are seeking this.
https://www.aihr.com/blog/human-capital-roi/
https://smallbusiness.chron.com/manpower-return-investment-78993.html
https://classpass.com/corporate-wellness/blog/human-capital-roi.
What is ROI in human resources?
HR ROI stands for Human Resources Return on Investment. It is a metric used to evaluate the financial impact of HR programs and initiatives on an organization. HR ROI measures the value generated by HR initiatives compared to the costs associated with implementing those initiatives. https://www.google.com/search?q=ROI+on+man+power+&ie=utf-8&oe=utf-8&client=firefox-b
How to calculate ROI on human capital?
Human Capital ROI Formula
To calculate the impact of human capital initiatives on your company, you'll use an ROI formula. For example, let's say your company's revenue is $300,000, and your human capital expenses are $100,000. Your human capital ROI would be: ($300,000 – $100,000) / $100,000 = $2.
Pl.see it helps to serve your purpose.
From India, Bangalore
https://www.aihr.com/blog/human-capital-roi/
https://smallbusiness.chron.com/manpower-return-investment-78993.html
https://classpass.com/corporate-wellness/blog/human-capital-roi.
What is ROI in human resources?
HR ROI stands for Human Resources Return on Investment. It is a metric used to evaluate the financial impact of HR programs and initiatives on an organization. HR ROI measures the value generated by HR initiatives compared to the costs associated with implementing those initiatives. https://www.google.com/search?q=ROI+on+man+power+&ie=utf-8&oe=utf-8&client=firefox-b
How to calculate ROI on human capital?
Human Capital ROI Formula
To calculate the impact of human capital initiatives on your company, you'll use an ROI formula. For example, let's say your company's revenue is $300,000, and your human capital expenses are $100,000. Your human capital ROI would be: ($300,000 – $100,000) / $100,000 = $2.
Pl.see it helps to serve your purpose.
From India, Bangalore
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ROI Training.zip
Training ROI Calculator.xls