Utilizing HR Metrics to Illustrate & Enhance Human Resource's Contribution

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.

Why You Should Attend

HR professionals leading many of the best-managed HR departments across the U.S. rely heavily on HR Metrics to guide and improve their departments' performance. They recognize that metrics offer significant benefits to both their departments and organizations.

These HR professionals recognize that:

• Metrics is the ‘language of business’. Senior leaders are seeking objectivity. They don't speak in generalities or 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 an overhead expense until others see value in the function. They appreciate the fact that the results that they don't objectively report often don’t count
• They need metrics to compare themselves to other organizations' standards and ‘best practices’. Those metrics provide early warning signals and identify performance gaps. And 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.

Learning Objectives

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 scorecard
• 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

Areas Covered

I. The Benefits of HR Metrics to HR departments and Organizations

• Reasons for Utilizing HR Metrics
• What HR Metrics Produce

II. Identifying What to Measure

• Benefits and Limitations of Measurement
• Key Question: How to Best Measure an HR Process and Whether the Result will be Worth the Cost of Measuring
• What are Your Customers’ Most Important Expectations?
• What HR Processes Impact/Influence These Expectations?
• How Can the Performance or Results of These HR Processes be Measured?
• Five Categories of H.R. Metrics
• Four Step Process for Implementing HR Metrics

III.   Recruiting, Interviewing & Selection Metrics

• Cost: Per-Hire Formula
• Cost: Per-Interview Formula
• Time-to-Fill Formula
• Offers Resulting in a Hire Formula
• Quality of Hire Formula
• Other Frequently Utilized Recruiting Process Measures
• Human Reactions to the Recruiting Process

IV. Compensation & Benefits Metrics

• Four Key Objectives of a Compensation System
• Employee Compensation Cost Formula
• Compensation & Benefits Costs as a Percentage of Operating Costs Formula
• Profit Factor per Employee Formula
• Revenue Factor per Employee Formula
• Other Frequently Utilized Compensation Metrics
• Other Frequently Utilized Benefit Metrics
• Human Reactions to a Compensation Plan

V. Training & Development Metrics

• Training and Development’s Biggest Challenges
• Developing a Training Objective for Your Organization
• Four Levels of Training Evaluation
• Training Cost Formula
• Training Cost Per Hour Formula
• Knowledge Change Formula 
• Skill Change Formula 
• Performance Change Formula
• Other Frequently Utilized Training and Development Metrics
• Human Reactions to Training & Development

VI. Retention Metrics Formulas

• Average Length of Service Formula
• Cost of Turnover Formula
• Quantity of Turnover Formula
• Quantity of Voluntary Turnover Formula
• Voluntary Separation Rate by Tenure Formula
• Replacement Factor Formula
• Quality of Performer Retention Formula
• Other Frequently Utilized Retention Metrics
• Human Reactions to Employee Retention & Turnover

VII. Measuring Other HR Processes

• Metrics for Other HR Processes

VIII. Strategically Implementing Your HR Dashboard

• Creating Your HR Dashboard
• Four Key Summary Questions
• Taking the Next Steps

Who Should Attend

HR Professionals New to the Field & Experienced HR Professionals Looking for New Ideas and/or a Refresher

Speaker(s)

Pete Tosh

Pete Tosh is Founder of The Focus Group, a management consulting and training firm in Macon, Ga. that assists organizations in sustaining profitable growth through four core disciplines: • Maximizing Leadership Effectiveness • Strategic Planning • Implementing Strategic HR Initiatives • Enhancing Customer Loyalty The Focus Group has provided these consulting and training services to manufacturing and service organizations across the U.S., Canada, Europe, and the Middle East. Pete has worked closely with the leadership teams of organizations such as Exxon, Brinks, EMC, State Farm, Marriott, N.C.I. YKK and Freddie Mac Prior to founding his own firm 25 years ago, Pete had 15 years of experience in Human Resource and Quality functions holding leadership positions to include the V.P. of Human Resources and Quality. Pete is co-author of Leading Your Organization to the Next Level: the Core Disciplines of Sustained Profitable Growth. Pete holds a B.A. degree in Psychology from Emory and Henry College and Masters degrees in both Business Administration and Industrial Psychology from Virginia Commonwealth University.

CEUs

The use of this seal confirms that this activity has met HR Certification Institute’s® (HRCI®) criteria for recertification credit pre-approval.

Credits: 1.0

Compliance Prime is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for PDC(s) for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit www.shrmcertification.org

Credits: 1.0

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