This document outlines various metrics that can be used for human resource analytics across key HR functions. It discusses metrics for recruitment and staffing like time to fill, cost per hire, quality of hire, source of hire, applicant tracking, offer acceptance rate, employee retention rate, diversity metrics and candidate experience. It also covers metrics for training and development, performance analysis, employee engagement, manpower planning, health and incidents, organizational development, and compensation and benefits.
This document outlines various metrics that can be used for human resource analytics across key HR functions. It discusses metrics for recruitment and staffing like time to fill, cost per hire, quality of hire, source of hire, applicant tracking, offer acceptance rate, employee retention rate, diversity metrics and candidate experience. It also covers metrics for training and development, performance analysis, employee engagement, manpower planning, health and incidents, organizational development, and compensation and benefits.
This document outlines various metrics that can be used for human resource analytics across key HR functions. It discusses metrics for recruitment and staffing like time to fill, cost per hire, quality of hire, source of hire, applicant tracking, offer acceptance rate, employee retention rate, diversity metrics and candidate experience. It also covers metrics for training and development, performance analysis, employee engagement, manpower planning, health and incidents, organizational development, and compensation and benefits.
This document outlines various metrics that can be used for human resource analytics across key HR functions. It discusses metrics for recruitment and staffing like time to fill, cost per hire, quality of hire, source of hire, applicant tracking, offer acceptance rate, employee retention rate, diversity metrics and candidate experience. It also covers metrics for training and development, performance analysis, employee engagement, manpower planning, health and incidents, organizational development, and compensation and benefits.
FUNCTIONS OF HUMAN RESOURCE ■ Manpower planning ■ Recruitment and staffing ■ Training and development ■ Performance or Productive analysis ■ Compensation and Benefits ■ Employee Engagement ■ Health and Incidents ■ Organizational Development ■ Succession Planning TRAINING AND DEVELOPMENT ■ Training effectiveness ■ Training requirement analysis ■ Training completion rate ■ Skill acquisition ■ Training cost per employee ■ Feedback and satisfaction ■ Time to competency ■ Knowledge retention ■ ROI ■ Promotion and advertisement rate ■ Training hours per employee ■ Employee development planning PERFORMANCE OR PRODUCTIVITY ANALYSIS ■ KPI ■ Performance rating ■ Goal attainment ■ Feedback and coaching ■ 360 degree analysis ■ Competency assessment ■ Employee recognition ■ Succession planning ■ Performance calibration ■ Employee impact counselling EMPLOYEE ENGAGEMENT ■ Employee engagement survey ■ Net promoters score ■ Pulse survey ■ Retention rate ■ Attendance and punctuality ■ Participation in employee program ■ Manager employee relationship analysis ■ Work place surveys ■ Team collaboration metrics ■ Career development oppurtunities MANPOWER PLANNING ■ Workforce development ■ Workforce demography analysis ■ Skill inventory ■ Succession planning ■ Internal mobility ■ External talent pipeline ■ Time to fill position ■ Turnover rate ■ Strategy workforce planning ■ Labor market analysis ■ Workforce flexibility ■ Employee productivity ■ Skill gap analysis HEALTH AND INCIDENTS ■ Incidents rate ■ Loss injury rate ■ Near miss rate ■ Safety training ■ Emergency response time ■ Health and safety inspection ■ Safety culture ■ Personnel protective ■ Work station ergonomics ■ Occupational health and program participation ■ Workforce stress management ORGANISATIONAL DEVELOPMENT ■ Organizational performance ■ Employee engagement ■ Leadership development impact ■ Change readiness ■ Communication effectiveness ■ Organizational culture assessment ■ Innovation metrics ■ Collaboration and team dynamics ■ Organization agility ■ Diversity metrics COMPENSATION AND BENEFITS ■ Total compensation ■ Salary competitiveness ■ Benefit participation rate ■ Cost of benefits per employee ■ Compensation ratio ■ Salary increase percentage ■ Bonus payout ratio ■ Equity in compensation ■ Employee satisfaction and compensation ■ Turnover impact ■ Benefits cost containment ■ Executive compensation metrics RECRUITMENT AND STAFFING ■ Time to fill ■ Cost per hire ■ Quality of hire ■ Source of hire ■ Applicant tracking metrics ■ Offer acceptance rate ■ Employee retention rate ■ Candidate experience ■ Diversity metrics ■ Recruitment funnel metrics Recruitment funnel metrics ■ Application received ■ Shortlisting ■ Evaluation ■ Selection ■ Offer letter ■ Number of onboarding employee Time to fill ■ Time to fill reveals how many days pass during a recruitment process between the introduction of a candidate and when they are offered the position. This is also known as the time to hire (a position). Which is the speed at which a candidate moves through your hiring process after they apply can be illuminating for you and your recruiting team. Cost per hire ■ This metric is an overview of the average cost to make a new hire. It includes all costs related to recruitment, as well as the purchase of equipment, onboarding, administrative costs and benefits. And that can depend on things like the size of your company, the seniority of the job and the number of channels you use to advertise vacancies . Quality of hire ■ The cost per hire metric can be used to measure many things, but it does not take into account the quality of hires. This means that an employer could have a low cost per hire but may not be getting any better at hiring people who are more qualified for the position. ■ Finding talent fast is important, but don't forget about quality - the two are equally important when it comes to recruitment. It is tricky to measure but content engagement can be a good indicator of success. Source of hiring ■ Where you recruit from has a huge impact on your recruitment results. Which of your recruiting resources are effective? By measuring where your most successful candidates come from, you can continue with this source. You can also note where most of your unsuccessful applicants are coming from and potentially eliminate this source of hire if it continues to fetch through poor candidates. Applicant tracking metrics ■ It allows recruiters to match job requisitions to the job-posting sites and the social media channels most appropriate for specific candidates. It also maximizes visibility for internal job boards, while requiring fewer clicks and eliminating barriers for prospective employees. Employee retention rate ■ Employee retention rate is a measure of an organization's ability to retain a stable workforce. It shows the number of employees who stay in a company for a certain period of time compared to the total number of employees in that period. Diversity metrics ■ Diversity metrics in recruitment are the numerical values that help you measure the representation and inclusion of different groups of people in your hiring process and workforce. Candidate experience ■ By surveying your candidate experiences, you can gauge how well your recruitment process is. By having a high scoring candidate experience, you can improve your company's reputation and attract top talent. Offer acceptance rate ■ The offer acceptance rate is an immediately useful recruiter productivity metric. It’s a comparison between the number of candidates given job offers and the number that accept. Attrition rate ■ Attrition rate is the rate at which your organization loses employees in any given time period. A similar metric is first-year attrition (i.e., the number of employees to leave the company within 12 months of being hired). Thank you