Many HR departments spend their time on transactions and administration with little objective data on how well their processes work or how they support business strategy. Senior executives increasingly expect HR to prove its value with numbers, and HR metrics are how you do it.
This interactive 60-minute HR metrics training gives an overview of the measures HR teams use most often and a method for putting them in place in your own function. You'll work through formulas for recruiting and selection, compensation and benefits, training and development, and retention.
With the right metrics, HR can act as a strategic business partner, speak the language of business, check whether internal customers' needs are being met, improve its processes continuously and reduce the risk of being outsourced.
WHY SHOULD YOU ATTEND?
Leaders of many of the best-run HR departments in the U.S. rely on metrics to guide performance. Senior leaders want objective data, not opinions, and results HR doesn't report often don't count. Metrics let you compare against other organizations' best practices, spot early warning signs and performance gaps, and set clear goals, just as manufacturing, sales and accounting already do.
The session suits HR professionals new to the field, experienced practitioners looking for fresh ideas, and anyone who wants a refresher.
AREA COVERED
The benefits of HR metrics
- Why HR departments and organizations use HR metrics
- What HR metrics produce
Identifying what to measure
- Why use HR metrics
- The benefits and limits of measurement
- How best to measure an HR process and whether the result is worth the cost
- Your customers' most important expectations
- Which HR processes affect those expectations
- How the performance or results of those processes can be measured
- Five categories of HR metrics
- A four-step process for implementing HR metrics
Recruiting, interviewing and selection metrics
- Cost per hire and cost per interview formulas
- Time to fill formula
- Offers resulting in a hire formula
- Quality of hire formula
- Other common recruiting measures
- How people react to the recruiting process
Compensation and benefits metrics
- Four key objectives of a compensation system
- Employee compensation cost formula
- Compensation and benefits costs as a percentage of operating costs
- Profit factor and revenue factor per employee formulas
- Other common compensation and benefit metrics
- How people react to compensation
Training and development metrics
- The biggest challenges in training and development
- Writing a training objective for your organization
- The four levels of training evaluation
- Training cost and training cost per hour formulas
- Knowledge change, skill change and performance change formulas
- Other common training and development metrics
- How people react to training and development
Retention metrics formulas
- Average length of service formula
- Cost of turnover formula
- Quantity of turnover and quantity of voluntary turnover formulas
- Voluntary separation rate by tenure formula
- Replacement factor formula
- Quality of performer retention formula
- Other common retention metrics
- How people react to retention and turnover
Measuring other HR processes
- Other HR processes you may want metrics for
Implementing your action plan and HR dashboard
- Creating your HR dashboard
- Four key summary questions
- Questions for taking the next steps
LEARNING OBJECTIVES
- Use HR metrics to present an objective picture in the language of business
- Assess whether HR is meeting the needs of its internal customers
- Make continuous, meaningful improvements to HR processes
- Contribute more to the organization's strategic and operational plans
- Select from a wide range of potential HR metrics
- Develop a personalized HR scorecard
- Plan how to implement an HR metrics dashboard strategically
- Show confidence in measuring HR's own contribution
WHO WILL BENEFIT?
- HR Professionals New to the Field
- Experienced HR Professionals Looking for New Ideas
- A Refresher
Leaders of many of the best-run HR departments in the U.S. rely on metrics to guide performance. Senior leaders want objective data, not opinions, and results HR doesn't report often don't count. Metrics let you compare against other organizations' best practices, spot early warning signs and performance gaps, and set clear goals, just as manufacturing, sales and accounting already do.
The session suits HR professionals new to the field, experienced practitioners looking for fresh ideas, and anyone who wants a refresher.
The benefits of HR metrics
- Why HR departments and organizations use HR metrics
- What HR metrics produce
Identifying what to measure
- Why use HR metrics
- The benefits and limits of measurement
- How best to measure an HR process and whether the result is worth the cost
- Your customers' most important expectations
- Which HR processes affect those expectations
- How the performance or results of those processes can be measured
- Five categories of HR metrics
- A four-step process for implementing HR metrics
Recruiting, interviewing and selection metrics
- Cost per hire and cost per interview formulas
- Time to fill formula
- Offers resulting in a hire formula
- Quality of hire formula
- Other common recruiting measures
- How people react to the recruiting process
Compensation and benefits metrics
- Four key objectives of a compensation system
- Employee compensation cost formula
- Compensation and benefits costs as a percentage of operating costs
- Profit factor and revenue factor per employee formulas
- Other common compensation and benefit metrics
- How people react to compensation
Training and development metrics
- The biggest challenges in training and development
- Writing a training objective for your organization
- The four levels of training evaluation
- Training cost and training cost per hour formulas
- Knowledge change, skill change and performance change formulas
- Other common training and development metrics
- How people react to training and development
Retention metrics formulas
- Average length of service formula
- Cost of turnover formula
- Quantity of turnover and quantity of voluntary turnover formulas
- Voluntary separation rate by tenure formula
- Replacement factor formula
- Quality of performer retention formula
- Other common retention metrics
- How people react to retention and turnover
Measuring other HR processes
- Other HR processes you may want metrics for
Implementing your action plan and HR dashboard
- Creating your HR dashboard
- Four key summary questions
- Questions for taking the next steps
- Use HR metrics to present an objective picture in the language of business
- Assess whether HR is meeting the needs of its internal customers
- Make continuous, meaningful improvements to HR processes
- Contribute more to the organization's strategic and operational plans
- Select from a wide range of potential HR metrics
- Develop a personalized HR scorecard
- Plan how to implement an HR metrics dashboard strategically
- Show confidence in measuring HR's own contribution
- HR Professionals New to the Field
- Experienced HR Professionals Looking for New Ideas
- A Refresher
