Online Safety Community

Human resources metrics are a very important tool in measuring efficiency

HR metrics are often overlooked or underrated in many organizations. This is a mistake, because HR metrics are very important in assessing the efficiency of the HR policies, programs and endeavors. At the heart of the idea of HR metrics is that whatever is taken up for assessment or implementation has to be measurable. As in any other area of management, HR too has to go by the idiom that what cannot be measured cannot be managed.

The ability for being quantified or measured is something that gives an indication of how effective HR metrics are, because subjective or personal assessment or evaluation is of little use. Different HR managers could have different perspectives about an HR initiative.

HR metrics encompass all aspects of the organization

So, what is the basis of HR metrics? The basis to drawing up the right HR metrics is to first understand the organization and its business thoroughly. HR metrics have to be framed after completely taking factors such as the business objectives, its strategies, and its imperatives into consideration. The risk and the opportunity the business faces have to also be factored in when creating HR metrics.

The important learning that comes out of this point is that HR metrics are not created in isolation. They are a result of understanding of the various departments. They need to be comprehensive and have to be a product of proper interaction and comprehension of all the aspects of the business. HR metrics have to thus be created solidly and should be well-rounded.

The inputs of all the stakeholders have to be taken into consideration to help HR metrics serve their purpose of fostering decision-making. Another important element of HR metrics is that they should not just be about spelling out of intentions. If no actions come out of these pronouncements and intentions, they will remain only on paper and be of no effective use.

The number of metrics is not important

Yet another point of HR metrics is that it is not important for HR to frame a huge number of HR metrics. HR metrics, since they are more than just a statement of intent, have to be action oriented, leading to fulfillment of goals set out in them. So, it is important for HR to conceptualize and create HR metrics that are practical and achievable. Just creating a huge number of HR metrics with little accountability or ability for accomplishment will be futile.

The important purpose of HR metric is to help understand how human capital in the organization can be channelized and utilized to help the organization reach its goals in relation to the business and hiring practices the organization employs. The way it identifies and prioritizes its HR metrics is an indication of what the organization considers as its most important objectives. HR metrics should be designed in such a way that they lead the organization towards attainment of these objectives. This is the true test of the effectiveness of HR metrics. It should lead to inputs or pointers that help the organization achieve all that it sets out to.

Required to meet regulators’ and investors’ expectations

More than anything else, there is considerable pressure from governments and regulatory bodies on managements to put in place policies that are compliant with the law. Investors and funders also want to be satisfied about how their investment is being utilized to help the organization show results that lead to enhanced ROI. A properly drafted set of HR metrics is a great means to help organization achieve this and convince investors, government and the regulatory authorities of the ability of the organization to meet these goals, as HR metrics are an objective and unbiased set of measures that assess and increase organizational effectiveness.

Good HR metrics can cover all aspects of the organization, including but not limited to monetary and nonmonetary risks, the effectiveness of the ways of generating revenue and increasing productivity, while reducing costs.

Complete understanding of HR metrics

A webinar from TrainHR, a very popular provider of professional trainings for the HR industry, will give an in-depth understanding of HR metrics. Ronald Adler, the president-CEO of Laurdan Associates, Inc., a veteran owned, human resource management consulting firm specializing in HR audits, will be the speaker at this session.

Attendance at this webinar will help participants gain insights into the many aspects of HR metrics. Please register for this session by visiting http://www.trainhr.com/control/w_product/~product_id=701680?safetyc... .

At this webinar, Ronald will cover the following areas:

  • Gain an understanding of key HR metrics
  • Be able to identify and assess the strategic and operational impact of HR metrics
  • Learn the role of metrics in measuring and communicating value
  • Review the basics of using HR metrics in assessing human capital related risks
  • Learn how HR metrics improve strategic and operational decision making. 

Views: 22

Comment

You need to be a member of Online Safety Community to add comments!

Join Online Safety Community

Take our poll!

Take our poll!

Latest Activity

Adam Fleaming posted a blog post

Webinar Calendar of Upcoming Courses - May to Jun 2017

Below is the event description content:Compliance4All webinars are just what professionals in the regulatorycompliance areas need for scaling up in their careers. With a collection ofthe most erudite experts on regulatory compliance being available at a clickin the comfort of your preferred location; regulatory compliance could notget any simpler and effective! Compliance4All’s experts help you unravel all the knowledge you need in allthe areas of regulatory compliance. They help professionals…See More
3 hours ago
Roger Steven posted a blog post

Understanding CARC and RARC

A Claim Adjustment Reason Code (CARC) is a code used in medical billing to communicate a change or an adjustment in payment. CARCs have to be used to communicate why there was a difference between the amount paid in a claim or service line and the amount that was billed against it. CARCS are to be mentioned only if there is an adjustment of this kind. If there is no adjustment to a claim or…See More
Friday
kate smith posted a blog post

Diligence and scrutiny are important for writing investigative reports

Diligence and a high degree of scrutiny are crucial for a person who is writing investigative reports in an organization. In the first place, an investigation has to be objective and not be vindictive. It should avoid targeting an employee personally; it should be thorough and proper from a legal perspective. When all the legal procedures are followed in an investigation, the case of the employer becomes strong and defensible…See More
Friday
Adam Fleaming posted a blog post

Meeting labeling requirements of various drug products

Both the FDA and the European Medicines Agency (EMA) have regulations that cover the labeling requirements of both prescription and over-the-counter (OTC) drugs, cosmetics, generics, medical devices, nutraceuticals and other related products. These regulations have to be strictly complied with. 21 CFR under its various parts, the Federal Food, Drug, and Cosmetic Act (FD&C…See More
Friday

Forum

What's your favorite motivational/safety quote? 98 Replies

Favorite Motivational Quote: If you want something, you'll find a way - If not, you'll find an excuse.Favorite Safety Quote: Don't learn safety by accident!Continue

Started by Michelle Sears. Last reply by David R Snell Apr 26.

Feedback on a injury prevention product we're building.

Hi everyone!For full transparency ill tell you a little about myself and what I hope to accomplish. My name is Zuber and I'm an engineering student who founded a startup helping to build wearable…Continue

Tags: product, prevention, injury, back, safety

Started by Zuber Ahmed Apr 24.

Best overall personal safety book? 1 Reply

What do you think is  the best all-in-one book out there for optimizing personal safety and the safety of one's family?  Right now I have …Continue

Started by David R Snell. Last reply by David R Snell Apr 21.

Fire codes for residential buildings

Hi,Can anybody kindly give me a hint how to find Fire Codes for residential buildings in different cities in the United States?Continue

Started by Darren Asad Apr 14.

OSHA and Machine Guard Door Safety???

We have what we feel is not a unique situation and were wondering if anyone might of run across this challenge and know more about the requirements.  We are building a small machine system that…Continue

Tags: electric, osha, air, door, interlocked

Started by Scott V Mar 24.

Badge

Loading…

© 2017   Created by Safety Community.   Powered by

Badges  |  Report an Issue  |  Terms of Service