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Do You 
Really Know 
Your 
Big Number? 
www.adp.com/tco
www.adp.com/tco 
YOUR 
BIG 
NUMBER 
TCO 
of 
HCM 
Your Big Number Defined 
= 
One of the most important metrics 
midsized organizations should consider 
is Total Cost of Ownership (TCO), 
a measure of what they are actually 
spending to manage employees. 
Organizations are increasingly 
thinking of their employees in terms 
of “human capital.” Planning for the 
costs associated with this workforce 
is known as Human Capital 
Management (HCM).
For more than half of senior HR managers in midsized businesses, 
the TCO of HCM is a daily concern. 
Thinking about better ways 
to lower my company’s 
overhead costs 
Total cost of managing my 
company’s employees 
I’m spending/my department 
spends too many hours manually 
entering in employee data 
Don’t understand all the 
nuances of the ACA that 
affect our company 
Too many open positions 
for which we cannot find 
qualified candidates 
Cannot retain talent for 
more than a year or two 
64% 
54% 
42% 
40% 
39% 
37% 
Daily Worries 
ADP Research Institute®, The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage, 2014 www.adp.com/tco
www.adp.com/tco 
2/3 
of midsized business owners feel they are 
also managing their HCM costs well. 
but 
Beneath this sense of HCM 
well-being is a flaw.
IT STARTS 
WITH HCM
IT STARTS WITH HCM 
Midsized companies have a false 
sense of confidence with respect to 
what they know about HCM, its costs, 
and their own HCM performance. 
www.adp.com/tco
Use the 5 functional pillars of HCM as a framework. IT STARTS WITH HCM 
Payroll 
Employee 
Benefits 
Administration 
Human 
Resources 
Administration 
Time & Labor 
Management 
Talent 
Management 
ADP Research Institute®, The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage, 2014 ../
18 38 
% % 
1 out of 5 Pillars 2 or 3 out of 5 Pillars 
27% 
All 5 Pillars 
17 
% 
4 out of 5 Pillars 
Note: 
Only about a third of 
senior HR managers 
consider all five pillars 
of Human Capital 
Management in their 
workforce costs. 
IT STARTS WITH HCM 
RESULT: 
They tend to 
grossly underestimate 
these costs. 
ADP Research Institute®, The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage, 2014 www.adp.com/tco
UNDERSTANDING 
HCM IS THE KEY TO 
ESTIMATING TCO
UNDERSTANDING HCM IS THE 
KEY TO ESTIMATING TCO 
A little more than 1 in 3 surveyed have formally 
analyzed the cost of any one or more of the five 
HCM functions in the past year. 
Only one in five have done it across all five pillars. 
ADP Research Institute®, The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage, 2014 www.adp.com/tco
Senior HR managers’ comments reveal how poorly they 
understand the TCO of HCM. 
The cost analysis is 
too complicated with 
our current system ... 
UNDERSTANDING HCM IS THE 
KEY TO ESTIMATING TCO 
I’d have to look into 
QuickBooks to figure 
it out ... 
We do not keep track 
of tco ... 
The top people 
keep some of that 
confidential ... 
That is a cost that is 
very hard to track ... 
ADP Research Institute®, The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage, 2014 www.adp.com/tco
Most senior HR managers at midsized companies think they know 
their TCO, but only one in four calculate it properly. 
UNDERSTANDING HCM IS THE 
KEY TO ESTIMATING TCO 
58% 27% 
are familiar 
with the 
concept of 
TCO 
consider all 
factors when 
estimating 
TCO 
ADP Research Institute®, The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage, 2014 ../
About two thirds of senior HR managers believe their company spends the right 
amount on TCO, but less than a quarter have formally analyzed it accurately. 
UNDERSTANDING HCM IS THE 
KEY TO ESTIMATING TCO 
22 
have formally analyzed 
TCO accurately in the 
past 12 months 
66 
believe their company 
spends the right 
amount on TCO 
% % 
but 
only 
ADP Research Institute®, The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage, 2014 www.adp.com/tco
THE 
RIGHT WAY 
TO FIND YOUR 
BIG NUMBER
Know the right people. 
Source that Companies Would Rely on for Formal Cost Analyses of All HCM Areas 
21% 
14% 
10% 
10% 
8% 
6% 
5% 
4% 
4% 
3% 
3% 
2% 
HR/Benefits 
Consultant 
In-House Analysis 
HR/Payroll 
Vendor 
Accountant 
Financial Advisor or 
Registered Investment 
Business Associates/ 
Colleagues 
Benefits Broker/ 
Agent 
Talent 
Recruiter 
Benefits Administration 
Vendor 
Attorney/ 
Law Firm 
Bank 
Buying Group/ 
Association 
THE RIGHT WAY TO FIND 
YOUR BIG NUMBER 
ADP Research Institute®, The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage, 2014 www.adp.com/tco
% 
% 
% % 
THE RIGHT WAY TO FIND 
YOUR BIG NUMBER 
Only 56% of senior HR 
managers at midsized 
companies say they have 
a strategy in place to 
further manage or reduce 
workforce costs. 
Deloitte, Global Human Capital Trends, 2014. www.adp.com/tco
THE RIGHT WAY TO FIND 
YOUR BIG NUMBER 
% 
% 
North American firms that implement a human capital 
management strategy are 
able to reduce their TCO of 
HCM — their big number 
— by 26%. 
NelsonHall, Targeting Payroll Outsourcing, May 29, 2014. www.adp.com/tco
www.adp.com/tco 
Financial capital has lost some of its 
primacy as the catalyst of growth. Human 
capital is primed to become a more 
dominant variable and a key driver of 
productivity and profits. It is by far the 
most abundant, flexible, and readily 
leveraged resource organizations have. 
Cornell 
University 
ILR School 
Making 
Human Capital the 
Creation Core of 
Strategy Execution
Read more about the TCO of HCM. 
www.adp.com/tco
Respondents 
business 
owners 
Partner 
Principal Owner 
c-suite 
executives 
President 
ceo 
cfo 
coo 
senior level 
executives 
Executive vp 
Senior vp 
vp Assistant 
vp Controller 
Assistant Controller 
General mgr. 
sr. Director 
sr. dept. Director 
dept. Head 
The Importance of Total Cost of Ownership: 
How Midsized Companies Can Find 
Competitive Advantage 
The 2014 Total Cost of Ownership Awareness 
of Human Capital Management Study was 
commissioned by the ADP Research Institute 
with Harris Poll and included 1,004 U.S. 
employees working full-time, part-time or 
self-employed in a company with 50-999 
employees and have responsibility for one 
or more of the following areas: Payroll, 
Time and Attendance, HR Management, 
Employee Benefits Administration, and Talent 
Management who participated in an online 
survey between July 29 and August 13, 2014. 
RESEARCH METHODOLOGY
About the ADP Research Institute® 
ABOUT 
The ADP Research Institute provides insights to leaders in both the private and public sectors 
regarding issues in human capital management, employment trends, and workforce strategy. 
About ADP® 
Employers around the world rely on ADP® (NASDAQ: ADP) for cloud-based solutions and 
services to help manage their most important asset — their people. From human resources 
and payroll to talent management to benefits administration, ADP brings unmatched depth and 
expertise in helping clients build a better workforce. A pioneer in Human Capital Management 
(HCM) and business process outsourcing, ADP serves more than 610,000 clients in 100 
countries. ADP.com. 
ADP does not give legal advice as part of its services. This document provides general information regarding its subject matter and should not be construed as providing legal advice.This 
material is made available for informational purposes only and is not a substitute for legal advice or your professional judgment. You should review applicable law in your jurisdiction and 
consult experienced counsel for legal or tax advice. 
The ADP Logo, ADP, and ADP Research Institute are registered trademarks of ADP, LLC. All other trademarks and service marks are the property of their respective owners. Copyright © 2014 
ADP, LLC. ALL RIGHTS RESERVED.

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Do You Really Know Your Big Number?

  • 1. Do You Really Know Your Big Number? www.adp.com/tco
  • 2. www.adp.com/tco YOUR BIG NUMBER TCO of HCM Your Big Number Defined = One of the most important metrics midsized organizations should consider is Total Cost of Ownership (TCO), a measure of what they are actually spending to manage employees. Organizations are increasingly thinking of their employees in terms of “human capital.” Planning for the costs associated with this workforce is known as Human Capital Management (HCM).
  • 3. For more than half of senior HR managers in midsized businesses, the TCO of HCM is a daily concern. Thinking about better ways to lower my company’s overhead costs Total cost of managing my company’s employees I’m spending/my department spends too many hours manually entering in employee data Don’t understand all the nuances of the ACA that affect our company Too many open positions for which we cannot find qualified candidates Cannot retain talent for more than a year or two 64% 54% 42% 40% 39% 37% Daily Worries ADP Research Institute®, The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage, 2014 www.adp.com/tco
  • 4. www.adp.com/tco 2/3 of midsized business owners feel they are also managing their HCM costs well. but Beneath this sense of HCM well-being is a flaw.
  • 6. IT STARTS WITH HCM Midsized companies have a false sense of confidence with respect to what they know about HCM, its costs, and their own HCM performance. www.adp.com/tco
  • 7. Use the 5 functional pillars of HCM as a framework. IT STARTS WITH HCM Payroll Employee Benefits Administration Human Resources Administration Time & Labor Management Talent Management ADP Research Institute®, The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage, 2014 ../
  • 8. 18 38 % % 1 out of 5 Pillars 2 or 3 out of 5 Pillars 27% All 5 Pillars 17 % 4 out of 5 Pillars Note: Only about a third of senior HR managers consider all five pillars of Human Capital Management in their workforce costs. IT STARTS WITH HCM RESULT: They tend to grossly underestimate these costs. ADP Research Institute®, The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage, 2014 www.adp.com/tco
  • 9. UNDERSTANDING HCM IS THE KEY TO ESTIMATING TCO
  • 10. UNDERSTANDING HCM IS THE KEY TO ESTIMATING TCO A little more than 1 in 3 surveyed have formally analyzed the cost of any one or more of the five HCM functions in the past year. Only one in five have done it across all five pillars. ADP Research Institute®, The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage, 2014 www.adp.com/tco
  • 11. Senior HR managers’ comments reveal how poorly they understand the TCO of HCM. The cost analysis is too complicated with our current system ... UNDERSTANDING HCM IS THE KEY TO ESTIMATING TCO I’d have to look into QuickBooks to figure it out ... We do not keep track of tco ... The top people keep some of that confidential ... That is a cost that is very hard to track ... ADP Research Institute®, The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage, 2014 www.adp.com/tco
  • 12. Most senior HR managers at midsized companies think they know their TCO, but only one in four calculate it properly. UNDERSTANDING HCM IS THE KEY TO ESTIMATING TCO 58% 27% are familiar with the concept of TCO consider all factors when estimating TCO ADP Research Institute®, The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage, 2014 ../
  • 13. About two thirds of senior HR managers believe their company spends the right amount on TCO, but less than a quarter have formally analyzed it accurately. UNDERSTANDING HCM IS THE KEY TO ESTIMATING TCO 22 have formally analyzed TCO accurately in the past 12 months 66 believe their company spends the right amount on TCO % % but only ADP Research Institute®, The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage, 2014 www.adp.com/tco
  • 14. THE RIGHT WAY TO FIND YOUR BIG NUMBER
  • 15. Know the right people. Source that Companies Would Rely on for Formal Cost Analyses of All HCM Areas 21% 14% 10% 10% 8% 6% 5% 4% 4% 3% 3% 2% HR/Benefits Consultant In-House Analysis HR/Payroll Vendor Accountant Financial Advisor or Registered Investment Business Associates/ Colleagues Benefits Broker/ Agent Talent Recruiter Benefits Administration Vendor Attorney/ Law Firm Bank Buying Group/ Association THE RIGHT WAY TO FIND YOUR BIG NUMBER ADP Research Institute®, The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage, 2014 www.adp.com/tco
  • 16. % % % % THE RIGHT WAY TO FIND YOUR BIG NUMBER Only 56% of senior HR managers at midsized companies say they have a strategy in place to further manage or reduce workforce costs. Deloitte, Global Human Capital Trends, 2014. www.adp.com/tco
  • 17. THE RIGHT WAY TO FIND YOUR BIG NUMBER % % North American firms that implement a human capital management strategy are able to reduce their TCO of HCM — their big number — by 26%. NelsonHall, Targeting Payroll Outsourcing, May 29, 2014. www.adp.com/tco
  • 18. www.adp.com/tco Financial capital has lost some of its primacy as the catalyst of growth. Human capital is primed to become a more dominant variable and a key driver of productivity and profits. It is by far the most abundant, flexible, and readily leveraged resource organizations have. Cornell University ILR School Making Human Capital the Creation Core of Strategy Execution
  • 19. Read more about the TCO of HCM. www.adp.com/tco
  • 20. Respondents business owners Partner Principal Owner c-suite executives President ceo cfo coo senior level executives Executive vp Senior vp vp Assistant vp Controller Assistant Controller General mgr. sr. Director sr. dept. Director dept. Head The Importance of Total Cost of Ownership: How Midsized Companies Can Find Competitive Advantage The 2014 Total Cost of Ownership Awareness of Human Capital Management Study was commissioned by the ADP Research Institute with Harris Poll and included 1,004 U.S. employees working full-time, part-time or self-employed in a company with 50-999 employees and have responsibility for one or more of the following areas: Payroll, Time and Attendance, HR Management, Employee Benefits Administration, and Talent Management who participated in an online survey between July 29 and August 13, 2014. RESEARCH METHODOLOGY
  • 21. About the ADP Research Institute® ABOUT The ADP Research Institute provides insights to leaders in both the private and public sectors regarding issues in human capital management, employment trends, and workforce strategy. About ADP® Employers around the world rely on ADP® (NASDAQ: ADP) for cloud-based solutions and services to help manage their most important asset — their people. From human resources and payroll to talent management to benefits administration, ADP brings unmatched depth and expertise in helping clients build a better workforce. A pioneer in Human Capital Management (HCM) and business process outsourcing, ADP serves more than 610,000 clients in 100 countries. ADP.com. ADP does not give legal advice as part of its services. This document provides general information regarding its subject matter and should not be construed as providing legal advice.This material is made available for informational purposes only and is not a substitute for legal advice or your professional judgment. You should review applicable law in your jurisdiction and consult experienced counsel for legal or tax advice. The ADP Logo, ADP, and ADP Research Institute are registered trademarks of ADP, LLC. All other trademarks and service marks are the property of their respective owners. Copyright © 2014 ADP, LLC. ALL RIGHTS RESERVED.