A company is only as good as its human resources management but sometimes businesses and managers may not see it that way. Thanks to HR metrics however, human resources professionals can show their direct impact on a business and its profitability.
Having metrics in place is like finally using a scale when on a diet. Sure, it looks like you’ve lost weight and all of your efforts seem to be having an effect on your waist line, but there’s no way to be sure of the exact impact without a clear way to measure it. Hop on a scale and your weight loss goes from “I look great” to “I lost 10 pounds!”
Metrics for HR allow businesses to see tangible evidence of where staffing, compensation and benefit policies are working and where there is room for improvement. Areas that are often measured include turnover, open positions, employee engagement, cost per hire, cost per healthcare plan and customer feedback scores.
Human resource planning is essential to a business’s success, and metrics allow companies to have a more accurate way to measure HR success. Before, HR departments were mostly measured on how long it took to fill a vacant position, but today, we have so many more ways to weigh success.
Want to learn more about HR metrics? Register for our HR R&R: Refresh and Recertify Webcast, Measuring Up – Using Metrics to Meet & Exceed Expectations. This month’s hour long live webcast focuses on providing HR professionals with the tools to effectively communicate with C-level executives. You’ll learn how to speak the language of business through metrics for staffing, compensation, and benefits to effectively evaluate and improve performance within the HR function.