Human Resources KPIs: Benchmarking HR Performance
HR KPIs are strategic metrics that are used to measure HR progress toward realizing the organizations strategy and short-term and long-term goals. KPIs can be Organizational KPIs (example: Salary Competitiveness, career growth), Financial KPIs (example: Cost per Hire, Compensation & Benefits) and Process KPIs (example: Measuring Efficiency of Recruitment and Selection, Employee Productivity Rate) and Personnel KPIs (example: Absence Rate, Turnover rate). Good KPIs are SMART, Focused on the performance of essential strategies; Actionable, Owned, and Correlated to the desired business goals. HR managers need to identify leading and lagging KPIs to predict future success and to track past performance. HR KPIs will enable HR managers to benchmark the effectiveness of their HR strategies- processes, practices and results-against the HR strategies of other organizations or across departments to support the overall organization strategy to achieve business goals. In this course, HR personnel will understand several metrics used to measure HR KPIs, and the Characteristics of KPIs. Participants will learn how to interpret KPIs and to benchmark the effectiveness of their organizations HR processes against other competitors toward realizing the organizations strategy, and make recommendations for better KPI metrics performance and stronger relationship to business strategy.