7 HR & Recruiting Metrics You Can't Live Without
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The document discusses key HR metrics that are important for businesses to track, including turnover, cost per hire, total compensation, training hours per employee, revenue per employee, HR to employee ratio, and HR as an expense factor. It provides information on calculating and analyzing these metrics and how they can help HR function as an effective business partner. The webinar was sponsored by Blogging4Jobs.com and covered HR solutions and strategies.
7 HR & Recruiting Metrics You Can't Live Without
- 2. Get HRCI Recert Credits • Visit http://b4j.com/hrciwebinars & register to get PHR, SPHR & GPHR cert credits free. Sponsored by Blogging4Jobs.com #HRsolutions
- 3. Our Panelists Jessica Miller-Merrell Sponsored by Blogging4Jobs.com Rebecca Perot-Tripp #HRsolutions
- 4. The Importance of Metrics Sponsored by Blogging4Jobs.com #HRsolutions
- 5. HR as a Business Partner Sponsored by Blogging4Jobs.com #HRsolutions
- 6. HR as a Business Partner Contributes to business performance Promotes delivery of business benefits Maximizes employee engagement Improves people management activities • Supports legal & regulatory compliance • • • • Source: HR – The Business Partner Sponsored by Blogging4Jobs.com #HRsolutions
- 7. Poll Question • How large is your organization? Sponsored by Blogging4Jobs.com #HRsolutions
- 8. #1: Turnover Sponsored by Blogging4Jobs.com #HRsolutions
- 9. Annualized Turnover Sponsored by Blogging4Jobs.com #HRsolutions
- 10. Turnover • Evaluated monthly • Measuring turnover by division, team, department • Involuntary vs. Voluntary Sponsored by Blogging4Jobs.com #HRsolutions
- 11. #2: Cost Per Hire Sponsored by Blogging4Jobs.com #HRsolutions
- 12. Cost Per Hire Read the full SHRM Benchmarking study at http://b4j.co/CPH-2012 Sponsored by Blogging4Jobs.com #HRsolutions
- 13. What is an Internal Cost? • The more measure, the more accurate CPH actually is Sponsored by Blogging4Jobs.com #HRsolutions
- 14. #3: Total Compensation Sponsored by Blogging4Jobs.com #HRsolutions
- 15. Total Compensation • Used to monitor labor costs • Compares fixed vs. variable costs • Metrics like benefit costs can be can be used as a comparison of total Sponsored by Blogging4Jobs.com #HRsolutions
- 16. 4: Training Hours Per Employee Sponsored by Blogging4Jobs.com #HRsolutions
- 17. Training Hours Per Employee • Further analysis of training hours by employee level or position compared to turnover • Do employees believe they are receiving acceptable training & development • How can we translate that into a business result? Sponsored by Blogging4Jobs.com #HRsolutions
- 18. #5: Revenue Per Employee Sponsored by Blogging4Jobs.com #HRsolutions
- 19. Revenue Per Employee • Helpful in evaluating lost revenue based on position openings • Useful for department or company • Used to compare top performers Sponsored by Blogging4Jobs.com #HRsolutions
- 20. #6: HR to Employee Ratio Sponsored by Blogging4Jobs.com #HRsolutions
- 21. Poll Question • What is your HR to Employee ratio? Sponsored by Blogging4Jobs.com #HRsolutions
- 22. #7: HR as an Expense Factor Sponsored by Blogging4Jobs.com #HRsolutions
- 23. HR as an Expense Factor • Helps establish baseline expense & organizational importance • Human capital vs. HR Sponsored by Blogging4Jobs.com #HRsolutions
- 24. The Secret to the Seat at the Table • Focusing on business case • Providing reports & analysis to business leaders • Creating pilots to test organizational changes • Setting clear expectations • Building alliances with key stakeholders Sponsored by Blogging4Jobs.com #HRsolutions
- 25. Get HRCI Recert Credits • Visit http://b4j.com/hrciwebinars & register to get PHR, SPHR & GPHR cert credits free. Sponsored by Blogging4Jobs.com #HRsolutions
- 27. Learn more about . . . • Rebecca Perot-Tripp at www.linkedin.com/in/rebeccaperottripp • Jessica Miller-Merrell at www.blogging4jobs.com Additional resources: SHRM Benchmarking study at http://b4j.co/CPH-2012 Sponsored by Blogging4Jobs.com #HRsolutions
Editor's Notes
- #13: Smaller organizations of fewer than 1,000 employees report an CPH of $3,079 and larger organizations with more than 1,000 reported a CPH of $4,285. Time to fill is another popular metric used in conjunction with this one. Large organizations take 43 days to fill a position compared to 29 days for smaller organizations.
- #15: Total compensation is a percentage of revenue is used to monitor total labor costs.
- #18: Technical vs. soft skills training. . .
- #20: Looking at base on period of time in position in short term and long term depending on position.