2021 - Utilizing HR Metrics to Illustrate & Improve Human Resource's Contribution

Overview
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
Human Resources metrics allow HR professionals to:
Be seen as business partners who are customer focused, strategic and change oriented
Make greater contributions to their business' strategic and operational plans
Speak the 'language of business'
Gauge whether they are satisfying the needs of their internal customers
Make continuous, meaningful improvements to HR processes
Show that they are not afraid of measuring their contribution
Avoid being outsourced
This interactive HR metrics training will provide an overview of frequently used HR Metrics and describe a methodology for implementing them in your HR function.
WHY SHOULD YOU 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 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 tocompare 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.
At the end of this HR management training, participants will be able to:
use HR Metrics to 'paint a picture' and speak the 'language of business'
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 metrics dashboard
see and select from many potential HR Metrics
show that they are not afraid of measuring their contribution
AREA COVERED
The Benefits of HR Metrics to HR departments and Organizations
Reasons for Utilizing HR Metrics
What HR Metrics Produce
Identifying What to Measure
Why Use HR Metrics?
The Benefits and Limitations of Measurement
The Key Question is 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/Have an Effect on These Expectations?
How Can the Performance or Results of These HR Processes be Measured?
Five Categories of HR Metrics
Four Step Process for Implementing HR Metrics
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
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 Compensation
Training & Development Metrics
Training and Development's Biggest Challenges
Developing a Training Objective for Your Organization
The 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
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
Measuring Other HR Processes
Other HR Processes for Which You Might Like to Have HR Metrics
Strategically Implementing Your Action Plan & HR Dashboard
Creating Your HR Dashboard
Four Key Summary Questions
Questions for Taking the Next Steps
WHO WILL BENEFIT?
HR Professionals New to the Field
Experienced HR Professionals Looking for New Ideas
A Refresher
SPEAKER PROFILE
instructor
Pete Tosh is Founder of The Focus Group, a management consulting and training firm that assists organizations in sustaining profitable growth through four core disciplines:
Implementing Strategic HR Initiatives: Executive Search, Conducting HR Department Audits, Enhancing Recruiting, Interviewing & Selection Processes, Installing Performance Management Programs, Conducting Training Needs Assessments, Installing HR Metrics, etc
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