Ready to invest in onboarding software at your public sector agency? Learn how much to budget for HR onboarding solutions.
Article Highlights:
- Factors that influence the price of HR onboarding solutions
- The tangible and intangible ROI of HR Onboarding software
Whether you know with certainty that you’re going to purchase onboarding software or are still doing your research, you probably have the same question: how much do employee onboarding solutions cost?
Understanding the price allows you to determine whether your public sector organization has sufficient resources to invest in onboarding software. It’s also much easier to start a conversation with the City Manager or Budget Department when you can explain what influences the price of the software.
This post will discuss the factors influencing the total cost of HR onboarding solutions. We’ll also provide insights about the tangible and intangible return on investment you can expect from your purchase.
How Much Do HR Onboarding Solutions Cost?
Several factors impact the cost of onboarding systems, from the number of employees in your organization to the key features you need. Let’s dig deeper into each of these items next.
Full-time employees
Many software companies price their employee onboarding solutions according to the size of the organization served. Annual licenses for a basic plan are often priced on tiers according to the number of full-time employees in your organization. For example, pricing plans for a yearly license may increase for every 50 full-time employees.
This pricing structure means that, on average, larger agencies should anticipatespending more on HR onboarding solutions than smaller agencies. Organizations with 100 FTEs will likely pay at least a few thousand dollars for the software solution and then a few thousand more for implementation and set-up. Agencies with thousands of full-time employees may spend over $10,000, plus several thousand dollars for implementation.
As you can see, on a cost-per-employee basis, most solutions will be more affordable for larger employers. That said, smaller software companies may offer cost-effective pricing plans for smaller agencies because they start at a lower minimum FTE count. For example, BambooHR starts its pricing model at 12 FTEs ($99/month) and surcharges for each additional employee per month after that.
Set-up fees
Set-up fees will also impact the total price of HR onboarding solutions. The specific services included in these fees will differ from company to company, so clarify what is and is not included in this fee when researching products.
For example, a support representative at one company might help your organization customize your new onboarding platform with organizational branding. At another company, this may incur an additional fee. Likewise, some companies may support integrating your new onboarding product with existing software, like your payroll system or HRIS, and some won’t.
Software add-ons
In addition to the onboarding solution you choose, companies often allow you to purchase software add-ons. These additional features increase your total package price. Some of these add-ons might incur a one-time fee, while others might be priced according to an annual license.
For example, NEOGOV offers a software add-on for GovernmentJobs.com, a user-friendly public sector job posting board. This add-on is priced according to an annual license. Other software add-ons might include features like an employee onboarding app, single sign-on or background check integration.
What’s the ROI of HR Onboarding Solutions?
Software streamlines your onboarding process and frees up organizational resources for other essential tasks, making it well worth the investment. Let’s dig into some tangible and intangible returns that employee onboarding solutions provide.
Tangible ROI
Many HR professionals turn to HR onboarding solutions to save time throughout the employee onboarding process. For example, an automated onboarding workflow process enables you to quickly assign to-do items to new hires and internal employees, ensuring all required tasks are completed. Additionally, onboarding tools like auto-form fill make completing mandatory hiring tasks more efficient.
This saved time translates to saving money. Rather than allocating limited staff resources (and associated wages) to cumbersome onboarding tasks, HR professionals can redirect their expertise to other meaningful work. In other words, an employee onboarding solution allows organizations to maintain an effective onboarding process while reducing staff time commitments. Many HR onboarding solutions also include new hire resources, like employee training manuals, that help employees become productive faster.
Intangible ROI
Of course, only some benefits of employee onboarding software can be measured in minutes and dollar signs. In addition to the tangible returns on investment discussed above, HR onboarding solutions provide significant intangible returns, including a stellar new hire experience.
Streamlining the onboarding process and providing comprehensive resources makes it easy for new hires to complete required paperwork and find all the resources they need. As a result, new employees can complete administrative tasks and new hire training more efficiently, get immersed in team culture more quickly, and better understand expectations for the job. Each of these provide a positive first impression and free up time for mastering the responsibilities of their job.
Final Thoughts
The cost of HR onboarding solutions varies depending on your organization’s size and unique needs. Onboarding software like NEOGOV’s Onboard provides critical tools that facilitate a strong return on your investment.
Book a no-obligation demo today if you’re excited to learn how NEOGOV can align with your budget and unique approach to onboarding.
