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HR Metrics
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In a world where HR is asked to prove its value, contribute to important business decisions and provide measurable results, there is an opportunity to use HR metrics and benchmarking to support strategic decision making by providing HR performance measures. Everyday human capital management is playing a more significant role in organizations. Having those measurements drive change helps to strengthen the HR professional's role as a strategic business partner.
Strategic HR metrics can be used to assist with the allocation of resources, strategic decision making, hiring, talent management practices, compensation & benefit programs and more. HR metrics focus managers on key issues and can effectively drive the change a company needs to achieve its goals. To be effective, HR metrics should not only report results, but also needs to be the first step in making the case for how strategies, practices and programs impact business results.
Many companies are forging ahead on efforts to create a new set of HR analytics and metrics that tie traditional HR functions like recruiting, training, and performance management to overall corporate goals — including increasing profits. While the mandate to measure has been around for some time, a Conference Board survey indicates that most companies aren't there yet. Of the 104 human resource executives at medium to large companies surveyed, only 12 percent make use of people measures to meet their strategic targets. However, over the next three years, 84 percent of that same group expects to increase the use of human capital measurements.
Take the next step and determine what are the HR performance drivers for your company. Learn about HR Metrics and their practical applications in our Knowledge Center. Take the next step -- register with the HR Metrics Center today and begin to utilize this valuable resource.
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