13 Best HR & Workforce Metrics
I’ve written before about HR Metrics being the key to HR’s seat at the executive table. Given the fact that the HR and recruiting departments are non-income generating, having solid metrics are key to demonstrating to senior leaders and executives how strategic HR initiatives can help affect an organization’s bottom line. But HR is more than just cost per hire, so I thought it would only be fair to share with you some of my favorite human resources measurement examples, metrics, and formulas to demonstrate and capture the value that your team brings to the table.
Read More: HR Insights: Vol 4, Issue 4
The Pros and Cons of Developing Talent Internally
Balancing between training current employees to fill future positions and investing in staffing processes to land top-tier external candidates is tricky. Even if you’ve already found (and hired) your next top performer, it’s important to know the pros and cons of developing talent within your company.
According to recent research on employee training, the answer is not so cut and dry.
Read More: HR Insights: Vol 4, Issue 3
Attracting Better Talent Can Start with a Simple "Thank You"
Remember the good old days when it was HR who expected a thank you note from a candidate after the interview? Well a convergence of events has flipped the tables and now some companies have found that sending thank you notes to candidates is a good way to acquire top talent.
With highly skilled employees in short supply and open positions increasingly difficult to fill, smart companies are paying attention to what their employment brand means to potential candidates. That means the candidate experience is getting long overdue, but well-deserved attention.
Read More: HR Insights: Vol 4, Issue 2
5 Powerful Human Resources Trends in 2016
In 2016, the biggest barrier to business success will be the subject of talent and, specifically, how we as business leaders will hire, retain, and train not just our future organizational leaders, but also the average employee. This simple fact is the reason that human resources and recruiting are forever linked; HR is responsible for the entire...
Read More: HR Insights: Vol 4, Issue 1
A Year Looking at the Bright Side
We all have the best intentions on January 1st–making resolutions to eat healthier or workout more or get more sleep. What if you made a resolution to live more gratefully? That’s the goal Janice Kaplan set for herself in her New York Times bestselling book, “The Gratitude Diaries.”
She writes in the first chapter, “I knew that how I felt about the 12 months ahead would probably have less to do with what actually happened than with the mood, spirit, and attitude I brought to each day.”
Read More: HR Insights: Vol 3, Issue 12
People Really Are Your Most Important Asset
If it looks like an asset and sounds like an asset, then it must be an asset, right? Well, if you’re an accountant, then the answer is probably a resounding “yes.” From an accounting standpoint, an asset is an economic resource that can be owned or controlled to produce value that can ultimately be converted into cash. For example, even a piece of equipment that is not owned but rather leased from its owner must be recorded as an asset in many circumstances.
Read More: HR Insights: Vol 3, Issue 8
Onboarding With a Plan
Did you know that...
• turnover averages about 17% per month for the first three months (including as much as 16% in the first week)?
• 81% of those who leave are entry level / intermediate level;
• 46% of new employees washout in the first 18 months; and
• 45% felt over $10,000 is wasted on ineffective onboarding.
BambooHR found these statistics in a study regarding onboarding in 2014. The typical cost of turnover is no less than 50% of the annual salary of the employee but often well over 150%. This makes onboarding pretty significant for all businesses. Often we are tormented with short-cutting onboarding because we reason, “I’m busy.” Cutting corners only hurts you, the business, and the new employee.
The reasons for early turnover are very different than someone that’s been on the job a while
Read More: HR Insights: Vol 3, Issue 7