Create a value model and total impact study template for the value of a software startup in HR software

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1. Identify the Goals and Objectives of the HR Software:

   • Streamline HR Processes

   • Improve HR efficiency

   • Reduce HR costs

   • Increase employee engagement and satisfaction

   • Enhance compliance and mitigate risk

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2. Determine the Key Performance Indicators (KPIs) for each Goal:

   • Streamline HR Processes:

     • Time saved in HR tasks (e.g. onboarding, offboarding, performance reviews)

   • Improve HR efficiency:

     • Increase in HR productivity (e.g. number of HR tasks completed per day)

   • Reduce HR costs:

     • Reduction in HR administrative costs (e.g. HR staff salaries, HR software subscription fees)

     • Reduction in compliance penalties and legal fees

   • Increase employee engagement and satisfaction:

     • Increase in employee satisfaction scores

     • Increase in employee retention rates

   • Enhance compliance and mitigate risk:

     • Reduction in compliance violations and legal risks

3. Collect Data and Calculate Baseline Metrics:

   • Collect data on current HR processes and metrics (e.g. time spent on HR tasks, number of HR staff, HR costs, compliance violations)

   • Calculate baseline metrics for each KPI

4. Implement the HR Software:

   • Train HR staff on how to use the software effectively

   • Implement the software across the organization

   • Monitor the adoption rate of the software

5. Collect Data and Calculate Post-Implementation Metrics:

   • Collect data on post-implementation HR processes and metrics

   • Calculate post-implementation metrics for each KPI

6. Calculate ROI:

   • Calculate the total cost of implementing the HR software (e.g. software subscription fees, training costs, implementation costs)

   • Calculate the total savings and benefits realized from implementing the software (e.g. reduction in HR administrative costs, increase in employee satisfaction scores, reduction in compliance violations)

   • Calculate the ROI using the following formula: (Total savings and benefits - Total cost of implementation) / Total cost of implementation

7. Create a Value Realization Report:

   • Summarize the goals, KPIs, baseline metrics, post-implementation metrics, and ROI in a value realization report

   • Present the report to stakeholders to demonstrate the value and ROI of the HR software

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By following this template, the HR software startup can effectively measure and communicate the value and ROI of their software to potential customers and stakeholders.