Identify and Explain Five Metrics Used to Evaluate Hr Performance

1340 Words6 Pages
Answer to question 1 of unit 1(HRM) Identify and explain five metrics used to evaluate HR performance The reality in our society is that the most commonly measured workforce metrics do very little to help to HR Managers and business leaders achieve real insight into maximizing their human capital investment. To make better business decisions regarding their workforce, leaders need to see the connections in their workforce data and examine comprehensive workforce topics. In order to achieve true business impact, Employers should be measuring 5 critical performance indicators: The indicators are therefore broadly categorized in the following formats. These are: 1. Talent Retention Management 2. Recruiting…show more content…
Productivity Increasing productivity is one of the most critical goals in business. Unfortunately, it’s an activity seldom accepted by HR Heads as a legitimate mandate. While most HR professionals acknowledge that their job entails establishing policy, procedures, and programs governing people management, few attempt to connect such elements to increasing employee output (volume, speed, and quality) per each dollar spent on labor costs (or as an easier to measure alternative, revenue per employee). Bonus programs are typically enacted that keep total compensation in line with market trends, regardless of the value of work warranting incentive comp. Training tools are often secured via the lowest-cost provider method with minimal consideration given to which provider would be most effective. Recruiting practices too are more often managed with the primary goal of minimizing cost, not enabling business capability/capacity. Regardless of the function you look at, in the typical organization, HR is more concerned with executing transactions instead of delivering productivity solutions. COMPENSATION & PAY MANAGEMENT Would the three salespersons and the receptionist work for free? No. They would, like us all, expect something in return. We must have heard a common phrase: Give and Take. We always have to give things to people in return to what we take from them. Compensation refers to this exchange, but in
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