In yesterday’s Advisor, we shared tips on presenting HR metrics to the C-suite from guest columnist and business consultant Bridget Miller. Today, Miller elaborates on specific metrics that may be of interest to your executive team.
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What metrics should you present? The answer isn’t an easy one-size-fits-all, and every business will vary. To decide on proper metrics, the HR team will need to assess the needs of their organization and meet with their executive team in advance to be on the same page in terms of what is important to each team member.
That said, we can take a look at some common themes in HR metrics that the C-suite may be interested in. These general categories often serve as a starting point for discussions and planning at the executive level:
- ROI for current projects, such as training programs, recruitment programs, or HRIS systems. Even if ROI is not yet clear, it’s still often important to present the financial status of HR initiatives and how these initiatives are reducing costs or increasing revenue.
- Turnover trends over time. This might include both percentages and costs. As we noted earlier, this type of data can be broken down by type of employee, department, and more—it depends on what the company focus is and the size or severity of the issue.
- Absenteeism rates and costs.
- Gross revenue per employee and trends about that figure.
- Cost to bring on a new hire, such as recruiting, hiring, and training (including data trends).
- Time to productivity of new hires.
- Employee engagement.
- Safety metrics, such as number of accidents and related trends.
- Compensation and benefit figures compared to the industry and compared to revenue.
- Any other metrics that closely align with the organizational goals, mission, and vision.
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Share Your Comments
I find the best metrics are those that don’t need to be explained–that their label says it all and why they’re important. When you get into explanations before even presenting the figure, you tend to lose your audience.