Question
HR Metrics: According to the web page article, 20 Common HR Metrics and their Formulas, located on the ERC: Where Great Workplaces Start blog site
HR Metrics: According to the web page article, "20 Common HR Metrics and their Formulas," located on the ERC: Where Great Workplaces Start blog site at http://www.yourerc.com/blog/post/20-Common-HR-Metrics-and-their-Formulas.aspx HR metrics and measurements can be powerful in showing areas where we could improve and better meet the needs of our organization and its employees. They can also provide meaningful data to help us make good decisions for our business and department ("20 Common HR Metrics and their Formulas," 2014, para 1). With so many HR metrics available, what's an HR manager to do? Great Work Place suggests asking four crucial questions which are listed in the Instructions section of this discussion segment below Review the HR Metrics and Benchmarking section located in Chapter 3. Refer to Table 3-1. Comparison Examples Selected from Several Studies of How Recruitment, Selection, Training, Appraisal, Pay, and Other Practices in High-Performance and Low Performance Companies and the https://apps.shrm.org/hrmetrics/ for examples of metrics that can benefit HR management. Other reliable sources may be used as well, including your own workplace. Answer the following questions: What metrics do you think are most crucial to your organization? Why? (Identify at least two (2) metrics and provide the formula that would be used for each.) What data or information needs to be gathered or tracked to calculate these metrics? How will the data be analyzed or benchmarked? In other words, what will you compare the data to? How will the analysis be used for action planning, development/ improvement, or problem solving?
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