8 HR analytics you MUST focus on or get left behind
Big data, analytics, it's the subject everyone is talking about, but what about doing it?
Key questions to ask first...
- Does HR team's have the skills sets to handle it?
- Do you have the systems to collect it?
- Can you afford not to invest in it?
8 HR analytics you should consider as part of a balanced HR scorecard:
This is a diagnostic of the current skills within the organisation, at all levels to understand what you have. This helps benchmark functions, teams and individuals both for understand HR capital value, a competency mismatch and other such issues.
2. COMPETENCY ACQUISITION SPEED
How quickly do new staff get up to speed, but also how long does it take currently development tools to get people up to the right performance levels? It's a very interesting set of questions
Are people working efficiently and on the right things? How long does it take to get a decision and how many meetings do teams have?
Losing people is a metric we are all familiar with. The reasons that go with it are also crucial too and how much it costs to replace them
A more challenging one, best looked at by team or function. Results from engagement surveys, defined key values that leaders operate under from 360 feedback are good sources of information
6. RECRUITMENT STREAMS
The channels that you use to find people are key to determining what works best and where you might need to look elsewhere to find different skill sets such as digital.
Engagement surveys and exit interviews or 360 exercises are valuable insight into the quality of your leadership team. Create internal benchmarks using competencies rather than outside text book models.
8. EMPLOYEE PERFORMANCE
Scorecard metrics, appraisal information, the 9 box matrix, all help create a picture of performance levels in various teams.
These all inform HR/L&D strategy and contribute towards the process of measuring ROI for you. Making great decisions and having impact is data led, opinion comes second.
In existence there are over 100 possible metrics which can make life a little more complicated, but in essence look at what can boost your organisational performance. This is a key piece of criteria for judging interventions.
JOHN | THINKING HR