HR Cost-Benefit Analysis and Vendor Selection

Background:

An international company with about 2,000 U.S. employees wanted to enhance its human resources technology to manage fast-paced growth. The company used an international enterprise resource planning platform for financial and core human resources data, but it did not have technology solutions for strategic human resources initiatives such as recruitment, learning, performance management, compensation, or succession planning.

Challenge:

It was critical for the client to attract, develop, and retain talented employees to support continued growth. The human resources team was challenged with meeting the needs of the workforce with limited and outdated technology, such as ad hoc reports, databases, and worksheets. The client knew it needed to move away from administrative paperwork and toward a strategic human resources approach in which employee attraction, development, and retention would become a proactive, effective, and efficient process.

Solution:

Findley helped the client determine which technology solutions would maximize human resources effectiveness. We began the project with a full scale cost-benefit analysis to determine where human resources spent time and money. We collected data on all human resources functions, analyzed trends, and compared client data to peer group benchmarks. We developed a list of the top areas of opportunity for human resources technology by demonstrating—in real dollars—which technology solutions would make the human resources function more strategic and efficient. Findley’s cost-benefit analysis demonstrated the business case for investing in an online performance management solution to make better use of human resources’ time and effectively manage employee goals and performance.

The client continued to partner with Findley to provide expertise and project management support in selecting the right performance management solution. Using lmpetro™—Findley’s online procurement system—we worked with the client to streamline the selection process. In about four months, the client had reviewed the top six solutions and used lmpetro’s robust reporting tools to make an educated, objective vendor choice.

Results:

With Findley’s help, the client’s human resources team is moving its focus from administrative to strategic. By taking time to develop a business case and select the right technology solution, the client is confident that the investment in a performance management system will be worthwhile. Once fully implemented, the system will allow human resources and managers to focus on managing employee performance, setting and cascading corporate goals, and developing effective incentives—ultimately leading to a more engaged, productive workforce and a healthy bottom line.

Category: Findley Proof
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