HR metrics are operational measures, addressing how efficient, effective and impactful an organization’s HR practices are. They leverage the power of data to help you make decisions that drive a better outcome for your company and its employees.
1. Time to hire: The number of days between a position opening up and a candidate signing the job contract.
2. Cost per hire: How much it costs the company to hire new employees.
3. Time since last promotion: A straightforward metric that can show why top employees leave.
4. Revenue per employee: Shows the amount of income brought into the company per employee.
5. Performance and potential: Shows which employees are underperformers, valued specialists, emerging potentials or top talents.
6. Cost of HR per employee: Indicates the cost efficiency of HR expressed in dollars.
7. The ratio of HR professionals to employees: It also shows HR’s cost efficiency. An organization with fully developed analytical capabilities should be able to have a smaller number of HR professionals do more
8. The ratio of HR business partners per employee: Like the previous metric, it enables HR to measure and predict the impact of HR policies, helping HR be more efficient and reduce the number of HR professionals to employees, saving the firm money.
9. Turnover: Shows how many workers leave the company in a given year; tracks the company’s attrition rate.
10. Timesheet and scheduling match: It helps to determine how closely the number of hours scheduled is in line with the number of hours worked, providing insight into understaffing or overstaffing.