Description
As costs continue to rise at rates typically greater then revenues, significant pressure is placed on strict budgets and cost reductions. The challenge that companies face today is how to grow revenues and reduce the predictable costs. Every business has metrics and measurements that are key to managing and growing their business. HR practice leaders who are serious about making a difference must be able to measure the business impact HR-driven programs have on their organizations in order to demonstrate the merit and worth of these programs. These metrics must, of course, measure the value and return on investment in human capital to the organization. This is both a challenge and a strategic imperative for todays HR professional.
General Tips
Analyze efficiency and effectiveness of
initiatives managed by the human resource
department, in areas such as, compensation,
benefits, training, staffing, etc.
Assess key areas like employee productivity,
succession planning, turnover, and talent
depth
Survey and interview senior leadership, line
management, and the workforce to determine
satisfaction with HR services
Provide detailed analysis on programs
implemented
Position HR as a value-added partner that
helps achieve the organizations goals
Questions to ask an
expert
Are we getting the highest return on our
investments in the workforce?
How do we optimize our talent?
Where are we redundant and inefficient?
What measurements are essential to
evaluating and appraising the success of our
strategies?
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