Examine eight to 10 specific HR metrics.
There is a saying that an organization is only as good as the talent behind it. Organizations often use metrics to measure and monitor employees, and metrics may vary depending on what is being measured. Although metrics allow leadership to assess individual, team, and organizational performance, using too many metrics is often unnecessary and difficult to maintain short term and long term.
Case Scenario
To date, your HR department has not developed or implemented HR metrics. For this assignment, prepare an HR metrics proposal for the chief financial officer (CFO) for consideration. Your proposal must identify eight to 10 specific HR metrics that demonstrate the impact it has on the business. Remember, collecting data and calculating metrics is time-consuming and expensive; it is important to focus on the metrics that matter most. There are several categories and individual metrics to choose from such as workforce productivity; employee engagement; recruitment (e.g., new hire turnover, cost-per-hire, time-to-hire, referral rates, etc.); retention (e.g., overall employee turnover, performance turnover, etc.); overall HR costs; employee satisfaction; compensation and benefits; and others.
Prepare your HR Metrics Proposal using the template
provided.
Examine eight to 10 specific HR metrics.
Define each HR metric.
Provide the formula.
Evaluate the collection method that should be used for each metric.
Evaluate how the data should be gathered.
Recommend how often these metrics should be collected and reported (monthly, quarterly, or annually).
Recommend to whom the metrics are to be presented.
Explain how these metrics are relevant.
Explain how these metrics impact the business.
The HR Metrics Proposal
Must be three to four double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center (Links to an external site.).
Must include a separate title page with the following:
Title of paper
Student’s name
Course name and number
Instructor’s name
Date submitted
Must use at least two scholarly and/or credible sources, in addition to the course tex
Answer preview Examine eight to 10 specific HR metrics.
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