You worked hard collecting data from HR metrics, yet the top leaders seem disinterested. The problem is, your metrics are not reporting what they need. In this article at Visier, John Sullivan discusses 10 HR metrics the top leaders are actually interested in.
When Metrics Meet Interests
The top leaders are more interested in metrics that focus on strategies or align with them. Below are the ten HR metrics they want:
Revenue per Employee: The majority of the CFOs accept it as a primary metric to measure workforce productivity and innovation. Divide the total corporate revenue by the number of full-time employees to get results.
New Hire Performance Improvement: If every candidate you hire performs better than the replaced ones, the metric shows positive growth. Use it for sales, collections, and call center agents.
Critical Job Performance Turnover: Count the number of performers that left key positions each month and the entire year. Add more weight to the top performers to understand the actual impact of the turnover.
Loss in Revenue Dollars Due to Vacancy: If you have a slow rate of hiring, you have more vacant seats. It results in lost productivity and lost revenue opportunities.
Top Skill Shortage: This is one of the HR metrics that put a little more stress on the skills that are causing companies to lose top dollars.
HR Programs that Increased Productivity: To learn how effective the HR training processes are, you must run surveys. If the training programs exceed expectations, you will get good outcomes from this metric.
Percentage of HR Goals Achieved: While HR metrics focus on people management, the HR department has its own goals. This metric will display to the top leaders the percentage of HR goals you have achieved so far.
New Hire Failure Rate: If you terminate a hire within six months, that number puts a dent on your HR experience. Rehiring costs, along with the price of a bad hire, will hit the budget.
Applications per Employee: The number of application forms you receive should be equal to the number of employees you currently have. It reflects your demand in the industry as an employer.
Hiring Diversity: In customer-centric jobs, your hires should showcase diversity. It increases familiarity and increases sales and services.
To view the original article in full, click on the following link: https://www.visier.com/clarity/top-10-strategic-hr-ta-metrics/