measuring hr part-2-3
DESCRIPTION
the presentation is the 2nd part of 3 part series, on my lecture at Kirloskar Institute of Advanced Management Studies,(KIAMS)- BSCHOOL.TRANSCRIPT
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MEASURING HROctober – December 2011Kirloskar Institute of Advanced Management Studies, HARIHAR,PUNEArchita Panda Part – 2/3.
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COVERAGE OF THIS COURSE
Evolution of HR as a function and Future/Present of HR
Integrated HR functions and HR Scorecard ROI for HR Services Approach to Measure HR HR Metrics and Cost estimation of HR
function HR Cost and Budgeting HR Accounting HR Audit
Covered in Part 1 of 3 part series
Being Covered in Part 2 of 3 part series (current one)
Will be covered in Part 3 of 3 part series
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HR METRICS
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COMMON ERRORS
Avoid building and executing HR metrics in Vacuum
Developing too many metrics than possible
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VARIOUS METRICS
Functional Metrics Operational Measures Strategic Measure
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FUNCTIONAL MEASURES
Provide employee efficiency Effective measures for Contribute to overall organization's
performance Essential for audit and accounting
Example : Leave consumption per employee, Training , number of accidents etc.
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OPERATIONAL MEASURES
Track productivity and profitability Cover extensive measures of HR
effectiveness
Example: Profit per employee, Revenue per employee , Average employee cost etc.
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STRATEGIC MEASURE
Match available capability against future need
Play prime part in central decision making Data can be tracked either top down or
bottom-up approach.( Expected vs. available skill set, Intellectual
capital , technology utilization )
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HR METRICS FOR LARGE ORGANIZATION
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Impact Effectiveness Efficiency
THREE KEY LEVELS OF METRICS
Boudreau and Ramstead
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Effectiveness
Efficiency
THREE LEVELS OF METRICS
Impact
•What is the link between sustainable strategic success and human resource management?
•Which talent pools are most critical for competitive advantage?
•How could improving human capital increase value?
Impact
Source: Boudreau and Ramstead
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Effectiveness
Efficiency
Impact
THREE LEVELS OF METRICSEfficiency
•What range of resources (financial and non-financial) should be considered?
•What is the appropriate level of investments?
•How should investable resources be allocated to maximize results?Source: Boudreau and Ramstead
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Effectiveness
Efficiency
Impact
THREE LEVELS OF METRICSEffectiveness
•What unique combination of policies and practices would best build the necessary human capital?
•What factors link policies and practices to human capital enhancement?
•What attributes distinguish effective from ineffective policies and practices?
Source: Boudreau and Ramstead
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Boudreau and Ramstead
OrganizationHR People
IMPACT
• Employee Satisfaction
• Turnover
Efficiency
• Time to Hire
• Cost per Hire
• Headcount Ratio
Effectiveness
• Customer Survey
• “At the Table”
• Practice/Process Impact
IMPACT
•Employee engagement
• Workforce skill level
Efficiency
• Direct Labor Costs
• Indirect Labor Costs
• Positions Unfilled
Effectiveness
• Employee Satisfaction
• Leadership Capability
• Talent Retention
• % Black Belt Leaders
• Employer Brand
IMPACT
•Productivity
• Quality
Efficiency
• Cost per Unit
• Defects/Scrap
Effectiveness
• Customer Satisfaction
• Revenue Growth
• Market Share
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FIRST TIER METRICS
Workforce productivity Utilization of resources Money spend to increase employee productivity
Employee Engagement Index Recruiting
No of overall days for a vacant position The turnover rate for new hire ( Infant Attrition ) % of diversity hire Manager satisfaction with new hire
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FIRST TIER METRICS
Retention Employee Turnover Performance Turnover ( High performer and low
performer turnover ) Preventable turnover in key jobs Diversity turnover Attrition Cost
Overall HR Cost Revenue Generated vs. Money spent in HR Cost
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SECOND TIER METRICS
Compensation and Benefit Average employee cost vs. Revenue Generated % employee satisfied with pay and benefits
Employee Relation No of grievances received in quarter % grievances on compensation
Training & Development
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Archita Panda
Email: [email protected]
Mobile: 9850094074
Linkedin Profile: http://in.linkedin.com/pub/archita-panda/6/177/823
End of Part – 2/3.
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