Yesterday’s Advisor covered key problems with HR metrics and suggested several metrics best practices. Today, more recommended metrics, plus a timely audio conference to answer your key metrics questions.
Dr. John Sullivan, metrics guru, professor of management at San Francisco State University, and blogger on www.ere.net, adds to his list of recommended human resource metrics from yesterday.
Compensation and Benefits
Sullivan suggests that rather than trying to use a statistical method to evaluate pay fairness, use an employee survey on perceptions of pay fairness compared with work expectations. Here are the measures he suggests:
–Amount in total compensation and benefits costs needed to generate a dollar of revenue. (Usually expressed in cents, e.g. 15¢ generates $1 in revenue.)
–Percentage of top-performing employees who resigned for compensation-related reasons (from exit surveys).
Employee Relations
–Turnover percentage of low-performing employees and managers within 1 year of receiving the low rating.
–Percentage of employees in a performance management program who improved at least one level on performance ratings within 1 year.
Need funding for HR? Let metrics tell management about your contributions. Learn which to use, and how to calculate them. BLR’s 90-minute July 16 webinar gets you up to speed. Read more
Training and Development
–Percentage of employees who report that they are satisfied with the learning and growth opportunities provided.
–Percentage who report that they are on the leading edge of knowledge in their profession.
The bottom line on Sullivan’s advise is this: Whether you love or hate metrics, these days you have to have them to prove HR’s contribution to the bottom line, in language that management understands.
If you are ready to start collecting data and calculating metrics, we recommend a timely webinar–BLR’s July 16 HR Metrics: How to Measure–and Maximize–the Strategic Value of Your Workforce.
You’ll get field-tested practical advice from experts on how to use HR metrics to become a valued member of your organization’s management team; plus, which metrics to use and how to calculate them. Then, you get to turn the tables and put the experts to work answering your specific questions.
Heading up to the C-suite? Be ready to speak management’s language. Attend BLR’s in-depth HR Metrics webinar on July 16. Can’t attend? Preorder the CD. For info, to register, or to preorder the CD, click here
Some points the webinar will cover:
–Most common HR activities that you should measure
–How to tie your HR metrics to the organization’s goals
–The importance of relating your measures to revenues and costs
–The key differences between activities, outcomes, and strategic planning – and how your metrics need to relate to them
–How to add value to your metrics so you are not just reporting, but analyzing and recommending
–How to develop your skills in critical thinking and leadership
The date is July 16, 2008. The time, 1:30 pm to 3 pm ET (Adjust for your time zone.). As with all BLR webinars, you can get your (and their) specific phoned-in or emailed questions answered in an extensive Q&A following the presentation. And your satisfaction is assured or you get a full refund.
Can’t attend on that date? Preorder the webinar CD. For more information on the webinar and the experts presenting it, to register, or to preorder the CD, click here.