Source | www.techfunnel.com | Emily Pribanic
Metrics and analytics provide insights that lead to positive actions.
Metrics and analytics not only help make HR departments solve problems more easily, guarantee employees are satisfied, and morale is high, but it also ensures the company’s success.
Metrics and analytics in HR today are not just related to people but other processes like recruitment, retention, compensation, benefits and more.
Best HR Metrics
There are many metrics an HR department can use to make a company better. One key HR metric is an absence rate that tracks the percentage of employees that are absent in a given period. This metric helps keep absence rates low and stable, which is important for a successful business. Another, related metric, is the absence rate per manager.
For a company to be successful, absence rates should be low and stable throughout every department. Knowing the absence rate for each department, the human resources department can pinpoint problem areas within the company and intervene before the problem gets worse. Another great HR metric is overtime expense. People don’t mind working overtime now and again, but when it gets out of hand, absences are sure to follow. With this metric, HR can step in before it gets out of hand and stop any problems before they may arise. Some other great HR metrics are:
- Employee Productivity Index
- Training Expense per Employee
- Training Effectiveness Index
- Training Efficiency
- Employee Happiness
- Voluntary Turnover Rate
- Turnover Rates of Talent
- Retention Rate per Manager