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 key 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
business’. 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 different types of HR metrics to be able to compare 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
• Identify HR metrics issues and 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
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
• Why use human resources
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 types of HR 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 compensation
V. 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
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
• Other HR processes for which
you might like to have key HR metrics
VIII. Strategically Implementing Your
Action Plan & HR Dashboard
• Creating your HR metrics
dashboard
• Four key summary questions
• Questions for taking the next steps
LEARNING OBJECTIVES
There are two strong forces behind
the growing movement toward the use of HR Metrics – this is true for large
organizations like IBM, Fed Ex, Southwest Airlines, etc as well as any of the
hundreds of smaller organizations that have turned to HR Metrics.
• An External Force: senior management is expecting
HR to be more actively involved in the achievement of business goals and
contribute in visible and meaningful ways; top management wants to ‘see’ value
from its HR function – without ‘seeing’ that value HR is viewed as an expense
and dollars can be saved by outsourcing HR
• An Internal Force: HR has been graced by an influx
of bright, energetic professionals who have chosen HR as a profession, have a
business orientation and want to make a visible and meaningful impact on their
businesses; they recognize that HR manages a number of processes that impact
their organizations and they want to maximize and illustrate the positive
impact of those processes
WHO WILL
BENEFIT
HR professionals new to the field &
experienced HR professionals looking for new ideas and/or a refresher
SPEAKER
Years of Experience: 25+
years
Areas of Expertise: Leadership
Development and HR Management
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
- Maximizing Leadership Effectiveness
- Strategic Planning
- 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. and Freddie Mac.
Prior to founding his own firm 25
years ago, Pete had 15 years of experience — at the plant, divisional and
corporate levels — in Human Resource and Quality functions. Pete held
leadership positions — to include the V.P. of Human Resources and Quality —
with Allied Signal, Imperial Chemical Industries, Reynolds Metals, Charter
Medical and Access Integrated Networks.
Pete also frequently facilitates a
variety of leadership development programs for organizations such as the
American Management Association — including Strategic Planning, Moving from an
Operational Manager to a Strategic Leader, Strategic HR Management and
Utilizing HR Metrics. Employees from over 3,000 organizations have benefited
from Pete’s experience and perspective. 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.
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