Return on Investment - Overview
As with all business process improvement projects, a good ROI case needs to be presented. For most organisations, the ROI from the adoption of a good recruitment system is overwhelming. It often provides quantifiable payback within a few months.
When compiling the ROI, a common problem is the lack of hard information on the current hiring performance and costs, which of course is partially due to the fact that there is no system in place. For many CEOs/CFOs having the ability to measure performance is a key part of the justification for the adoption of a solution.
The majority of ROI cases contain two elements:
Usually the quantifiable benefits alone are enough to prove the value of the project. The others are a bonus. Each case only differs depending on how companies recruited their staff prior to the modern system, and the size of the organisation.
The following is based on the case for a typical SME with less than 1,000 employees.