Designing & Executing Your HR Metrics Dashboard to Enhance HR’s Strategic Contribution
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Training TypeLive Training
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CategoryHuman Resources
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Duration1 Hours
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Rating4.8/5
Course Introduction
About the Course
Metrics is the ‘language of businesses’ Senior leaders are seeking objectivity. They don't speak in generalities and don't make key decisions based on opinions. Metrics communicate by painting an unbiased, objective, and believable picture
They are in the service business and their H.R. function can be seen as only an overhead expense until others see value from the function. They appreciate the fact that the results that they don't objectively report often don’t count
They need metrics to be able to compare themselves to standards and ‘best practices’ in other organizations. That metrics provide early warning signals and identify performance gaps. And that it is difficult to control & improve upon any HR process that is not measured.
Metrics provide a means of increasing visibility, clarifying performance expectations and setting goals. That just measuring an HR process conveys its importance and tends to improve the performance of the process.
Since the leaders of the other functions within their organizations - manufacturing, sales, accounting, customer service, etc. - measure and report their contributions and performance, they as HR professionals should as well.
Course Objective
Human Resource Departments have traditionally been concerned with the processing of transactions and administrative functions – often with little or no objective data to provide them feedback on:
The effectiveness of their HR processes or the contribution that these processes are making to the organization’s business strategy
However, many senior corporate executives are no longer satisfied with this scenario – they want HR to prove its value and effectiveness through objective data.
At the end of this workshop, participants will be able to:
Use HR Metrics to ‘paint a picture’ and use the ‘language of business’
Know how to gauge whether they are satisfying the needs of their internal customers
Make continuous, meaningful improvements to HR processes
Make greater contributions to their business’ strategic and operational plans
Develop their personalized HR score card
Discuss ways of strategically implementing their HR dashboard
See and select from many potential HR Metrics
Show that they are not afraid of measuring their contribution
Who is the Target Audience?
HR Managers, Directors, VPs & CHROs, SHRM Associations & HR Groups on LinkedIn
Basic Knowledge
No Prerequisite required
Available Batches
07 Nov 2024 | Thu ( 1 Day ) | 02:00 PM - 03:00 PM (Eastern Time) |
09 Dec 2024 | Mon ( 1 Day ) | 02:00 PM - 03:00 PM (Eastern Time) |
Pricing
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Reasons for Utilizing HR Metrics
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What HR Metrics Produce
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Benefits and Limitations of Measurement
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Key Question: How to Best Measure an HR Process and Whether the Result will be Worth the Cost of Measuring
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What are Your Customers’ Most Important Expectations?
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What HR Processes Impact/Influence These Expectations?
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How Can the Performance or Results of These HR Processes be Measured?
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Five Categories of H.R. Metrics
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Four Step Process for Implementing HR Metrics
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Cost: Per-Hire Formula
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Cost: Per-Interview Formula
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Time-to-Fill Formula
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Offers Resulting in a Hire Formula
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Quality of Hire Formula
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Other Frequently Utilized Recruiting Process Measures
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Four Key Objectives of a Compensation System
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Employee Compensation Cost Formula
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Compensation & Benefits Costs as a Percentage of Operating Costs Formula
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Profit Factor per Employee Formula
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Revenue Factor per Employee Formula
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Other Frequently Utilized Compensation Metrics
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Other Frequently Utilized Benefit Metrics
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Human Reactions to a Compensation Plan
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Training and Development’s Biggest Challenges
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Developing a Training Objective for Your Organization
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Four Levels of Training Evaluation
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Training Cost Formula
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Training Cost Per Hour Formula
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Knowledge Change Formula
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Skill Change Formula
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Performance Change Formula
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Other Frequently Utilized Training and Development Metrics
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Human Reactions to Training & Development
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Average Length of Service Formula
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Cost of Turnover Formula
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Quantity of Turnover Formula
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Quantity of Voluntary Turnover Formula
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Voluntary Separation Rate by Tenure Formula
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Replacement Factor Formula
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Quality of Performer Retention Formula
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Other Frequently Utilized Retention Metrics
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Human Reactions to Employee Retention & Turnover
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Metrics for Other HR Processes
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Creating Your HR Dashboard
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Four Key Summary Questions
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Taking the Next Steps
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Human Reactions to the Recruiting Process