Source | LinkedIn : By Issam Assaf
Human Resources (HR) manages people — including hiring, on-boarding, performance, firing, off-boarding, benefits, development and compensation. But who manages HR?
Executive oversight of HR is key to cost management, productivity, business development and competitiveness. Regular reporting of HR metrics is a good tool for managing any Human Resources department.
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The following 70 HR metrics are illustrative. The metrics you choose should be closely aligned with your industry, business and strategy.
- HR Cost per Employee
How much is the company spending on HR ? Example: HR cost per employee was $590.
2. HR Cost vs Revenue
HR cost was 0.54% of revenue.
- Average Response Time (ticket open with HR)
Employees open tickets with HR to ask questions, raise issues and provide feedback. How fast is HR’s initial response? Example: average ticket response was 12.3 minutes.
4. Average Resolution Time (ticket open with HR)
Average ticket resolution time was 34.5 hours.
- HR Complaints by Category
How many complaints were logged with HR? Complaint metrics are often broken down by category (e.g. harassment). Example: 12 complaints of harassment.
6. Average Complain Resolution Time
How long does it take to resolve a complaint? Example: average complaint resolution time was 13 business days.
7. Legal Costs
Legal costs related to HR issues. Example: HR related legal costs were $45,459 for the quarter.
8. Settlement Costs and Penalties
Costs of fines and legal settlements related to HR issues. Example: HR related settlements and penalties totalled $1.2 million for the quarter.
- Cost per Hire
Costs per hire for recruiting, hiring and onboarding. Example: the average cost per hire was $22,127.
10. Hiring Cycle Time
Time from hiring requisition date to start date. Example: average hiring cycle time was 5.8 months.
11. Hiring Fill Rate
How many positions are filled after 6 months? Example: the 6 month hiring fill rate was 58%.
12. Offer Acceptance Rate
How often does the preferred candidate accept the position? Often broken down by job level. Example: the offer acceptance rate was 55.5% for level 3 executives.