Cost of using multiple HR systems calculator
When you use multiple HR and payroll systems instead of a single software, you’re duplicating your efforts and multiplying your costs. A study conducted by Ernst & Young (EY) estimates the total costs associated with completing these tasks multiple times in the absence of a single-software HR and payroll tech. This calculator uses EY data to estimate these losses based on the factors you input below.
The number of HR and payroll tasks and associated costs incurred when entering employee benefits, training, vacation and time-off information into multiple systems.
The cost of recording new-hire data into separate HR and payroll systems, including I-9, contact, tax, benefits and direct deposit information.
The costs associated with completing and submitting expense reimbursements, calculating mileage, approving and denying expenses, and more in separate HR and expense report systems.
The costs of unique HR and payroll tasks associated with hourly employees, including completion, submission, collection, organization and verification of time sheets when entered into separate time and attendance and HR systems.
The cost of documenting, recording, tracking and storing performance reviews as well as providing promotion, separation and compensation information.
The cost of processing COBRA and retirement as well as documenting exit interviews and finding replacements in separate benefits, applicant tracking and performance management systems.
This calculator is intended for estimation purposes only. It is not intended as legal opinion and should not be substituted for professional legal or tax advice. Calculations are based on data from the Ernst & Young study, Estimated Labor and Non-Labor Costs Associated with Common Human Resources (HR) Functions/Tasks (July 2021).
Paycom streamlines and automates HR and payroll processes across the entire employee life cycle, all within one easy-to-use software. By empowering employees to enter and manage their own HR and payroll information, you help eliminate costs and wasted time associated with using multiple systems.
