Successful human resources ROI proposal

1 ANSWERS

1. Business Analyst
   

   Start your human resources ROI proposal with an overview. Let them know what you hope to achieve with the proposal and how it will add value to the company. And, don't forget to communicate in the "language" of your company. Start your human resources return on investment (ROI) proposal with an overview. Be able to answer these two core questions; what is it you're trying to achieve? And why is this project a good project? Complete a market assessment. In a hiring situation for example, how is your competitor attracting employees? Are other companies in other industries taking your employees? What is the total available employee pool for a particular job category? What is the competitive environment for the employee? Assumptions are challenged. Uncover the assumptions with your proposed project Assumptions are the place where people often run into problems in their human resources ROI proposal because the assumptions are challenged. If you've assumed that there will be no turnover or you've assumed that there will be a significant productivity increase, you want to have some backup to say, "Why is that a reasonable assumption?" Look at the alternatives. A lot of times we put together the return on investment for a project and we only have one solution. And we cost that out. We look at the benefit. But maybe there are other solutions that are less expensive and may actually be a better solution for these tough economic times. How have you examined those and is there something that we can do right now? The questions you want to ask yourself and answer here are, "Why is this investment important now? And what will happen if you don't invest?" Is there really a downside to putting this project on hold? Because a lot of times that's the question that leadership is asking. Right now, that's what leadership is asking because investments are always so scarce. Give a detailed description of the solutions you get from your human resources ROI computations list all of the costs. List all of the benefits. And list the assumptions associated with those costs and benefits. Then you want to look at the annual cash flows associated with your project. Calculate the ROI. And depending upon your company, also calculate the payback, the net present value and the internal rate of return. Give them the hard quantitative "dollars and cents" descriptions. Look at risks and possible sensitivity involved in this human resources ROI computation.

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