•  
  •  
The best article on HR ROI is at https://hrmadvisory.com/resources/hr-advice/the-roi-debate-hr-examiner/. The approach is grounded in economics rather than accounting.

The author, Neil McCormick, is co-author of the book Lean but Agile and a HR Top 100 Influencer. He was a lead advisor for the Australian Universities' HR Standards Project.