HR Metrics, Benchmarking, Goal-Setting, And Planning Skills

As an HR professional, you know that working with people and having to comply with numerous rules and regulations can be both complex and time-consuming. But to advance your career, you'll also need to be proficient - or at least knowledgable - in dealing with HR metrics, benchmarking, goal-setting, and planning.

Specifically, you'll find that as your career advances, you'll come to understand that the purposes of an organization's HR Department are to add value, make the organization more competitive, help the organization achieve its business objectives, and reduce risks.

What Are HR Metrics, Benchmarks, And Analytics?

The purpose of Human Resource metrics, benchmarking, goal-setting, and planning are to help the organization measure and communicate the value added, demonstrate the contribution of human capital, and measure and manage employment related risks.

Essentially, HR metrics are used to drive improvements and help organizations focus their people and resources on what's important. In other words, HR metrics, benchmarking, and analytics measure - and can help achieve - corporate goals.

What Are The Most Important HR Metrics?

Metrics should reflect and support the various strategies of the organization. Here are just some of the metrics you could measure:

• Sales
• Profits
• Corporate Performance
• Productivity
• Cost Per Hire
• Turnover
• Employee Performance
• Attendance
• Program Acceptance
• Job Satisfaction
• Safety
• Workers' Compensation
• Customer Service

Usually, the act of measuring improves performance by identifying strengths and weaknesses of the organization. That said, organizations should be wary about measuring too much and causing too much paperwork against productivity.

How To Communicate HR Metrics

Getting buy-in and commitment to your organization's HR goals is key to achieving those objectives. As such, you should make sure you tell your team what those goals are - and how the team will be measured. It certainly helps if the team helps set the goals.

Other things to consider include how you reward for goal achievement and how to discuss or discipline employees and teams for missing goals.

About Our HR Metrics Training Courses

Here is just some of what you will learn by taking one of our HR Metrics training courses:

• The role of metrics in measuring and communicating value
  
• The different types of industry benchmarks, including the differences between process-based and-data based benchmarking
  
• How HR metrics improve strategic and operational decision making
  
• How to identify and assess the strategic and operational impact of HR metrics
  
• Tips, tricks and secrets the pros use for effective goal setting
  
• The 10 elements of effective, achievable goals
  
• How to work with goals that seem too big, too unwieldy or too complex
  
• Set priorities while remaining flexible and adaptable when change occurs
  
• The most useful compensation metrics for managing your organization's compensation plan
  
• How to accurately calculate salary range penetration
  
• The relationship between salary range penetration and compa ratio
  
• How to determine best-in-class practices
  
• Best data collection methods
  
• How to determine what processes to measure and when
  
• What are silo's and how they hurt your business
  
• The importance of customers on your benchmarking program
  
• Step-by-step process on how to start a benchmarking program for your department

A Final Note: Is Your Compensation Plan Competitive?

If you organization is having trouble attracting and retaining talent, it could be because your pay offer is not competitive. The best way to determine if this is the case is to do a compensation benchmark analysis.

Our "Compensation Benchmarking Service" provides you with competitive pay data you need to help make informed job offer decisions.

For more details, or to order this service, go to https://HRTrainingCenter.com/Compensation-Benchmarking-Service-pa1007765

Find HR Metrics, Benchmarking, Goal-Setting, And Planning Training Courses

HR Training Center provides several training courses for helping you to understand - and master - HR metrics, benchmarking, goal-setting, and planning for your organization. Simply select one of the recommended courses below, or click "Metrics / Benchmarking" and your state from the search box below.