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How often does your HR department measure its effectiveness? HR metrics and
measurements can be powerful in showing us areas where we could improve and
better meet the needs of our organization and its employees. They can also help
provide meaningful data to help us make good decisions for our business and
department.
There are an endless array of HR metrics you can use spanning payroll,
compensation, benefits, engagement, retention, training, and more – all of which
can provide incredible insight into how your HR function is performing. But, as
will be discussed in our upcoming HR Metrics workshop, some measurements
are more important than others depending on your organization’s goals, strategy,
and the data it can feasibly track, analyze, and use. Four crucial considerations
that HR professionals need to consider when using HR metrics include:
We’ve provided some basic and standard metrics that we find many organizations
using to help you get started measuring HR:
Metric Formula
Benefit or program costs per employee total cost of employee benefit/program ÷ total # of employees
Compensation as a percent of total annual salary ÷ total compensation (salary + benefits + additional
compensation compensation)
Engagement or satisfaction rating percent of employees engaged or satisfied overall or with a given
aspect of the workplace
Percent of performance goals met or # of performance goals met or exceeded ÷ total # of performance
exceeded goals
Percent receiving performance rating # of employees rated under a given score or rating on their
performance evaluation ÷ total # of employees
Time to fill (average) total days taken to fill a job ÷ number hired
Training/development hours sum of total training hours ÷ total # of employees
Turnover (annual) # of employees exiting the job during 12 month period ÷ average
actual # of employees during the same period
Workers’ compensation cost per total workers compensation cost for year ÷ average number of
employee employees
Workers’ compensation incident rate (number of injuries and/or illnesses per 100 full-time employees ∕
total hours worked by all employees during the calendar year) x
200,000
Yield ratio percentage of applicants from a recruitment source that make it to the
next stage of the selection process