Human Resources departments are centers of expertise covering
a wide range of business needs.
Human Resource professionals provide vital services, advice, tools, and industry best practices. As such they are vital for every organization’s health and long-term success. Yet, HR often struggles to demonstrate and communicate its strategic value to its business executives and managers. When Human Resources uses data analysis and visualization, it demonstrates the same business acumen that its business sponsors need to demonstrate to its executives, earning them a seat at the table.
Every Human Resource professional wants to be recognized for their efforts and relevant outcomes. Systematic data analytics strategies are proven to deliver numerous benefits to HR. It becomes easier and convenient to figure out how to improve your company’s decision-making process with the right data.
HR is responsible for a wide variety of outcomes
The first step is to identify the top four to six measures and learn how to accurately and regularly measure and report on them. Here are some of the most prominent ways enterprise performance management applications may be of immense use to your HR team.
1. Aggregate measure of all key HR measures
By creating an aggregate measure for all HR measures combined, the department creates a single snapshot of its overall performance. This is a roll up of all its measures such as the five ones listed below.
2. Budgetary performance
Demonstrating its ability to effectively manage its budget is vital for HR. By demonstrating transparency and any necessary mitigation efforts, HR further displays its business acumen to the executive team. Ideally, HR spends “right down the lane” by not over- or under-spending so monitoring its budget monthly, enables it to regularly calibrate as needed.
3. Undesired turnover
Losing key talent is one of HR’s most important functions in partnership with its business executives and managers. Measuring undesired turnover enables the business to identify and intervene early on when and where trouble spots are occuring.
4. Employee engagement
Every HR and business manager knows that employee engagement is a sign of potential turnover and poor discretionary effort to excel. Every organization needs to monitor employee engagement regularly to ensure that its investment in its employees performance and innovation is high and meeting internal / external customer needs.
5. New hire time to fill
Leaving vacant positions unfilled for weeks and months is very costly to organizational performance and customer needs. Of course effective “new hire time to fill” requires a close partnership between HR and the hiring manager. So, identifying vacancy hot spots enables HR to intervene with the business to identify the root causes of hiring delays and implement solutions.
6. New hire onboarding and provisioning
Research shows that new hire onboarding is a classic measure of employee engagement and long-term retention. There is a direct correlation between successful new hire onboarding and new hire performance. Everyone wins when onboarding occurs quickly, efficiently, and effectively.
the dramatic increase in remote workforce, the onboarding process is under great pressure and new complications and the
hiring manager plays an increased role.)
Start Tracking and Displaying Your HR Performance Today!
Results Software is one of the finest enterprise performance management tools available in the market. By leveraging its powerful data analytics and visual reporting capabilities, your HR team can access actionable insights to make better decisions on all things related to HR management.