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Measuring hr part-2-3

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the presentation is the 2nd part of 3 part series, on my lecture at Kirloskar Institute of Advanced Management Studies,(KIAMS)- BSCHOOL.

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Measuring hr part-2-3

  1. 1. MEASURING HR October – December 2011 Kirloskar Institute of Advanced Management Studies, HARIHAR,PUNE Archita Panda Part – 2/3.
  2. 2. COVERAGE OF THIS COURSE <ul><li>Evolution of HR as a function and Future/Present of HR </li></ul><ul><li>Integrated HR functions and HR Scorecard </li></ul><ul><li>ROI for HR Services </li></ul><ul><li>Approach to Measure HR </li></ul><ul><li>HR Metrics and Cost estimation of HR function </li></ul><ul><li>HR Cost and Budgeting </li></ul><ul><li>HR Accounting </li></ul><ul><li>HR Audit </li></ul>Covered in Part 1 of 3 part series Being Covered in Part 2 of 3 part series (current one) Will be covered in Part 3 of 3 part series
  3. 3. HR METRICS
  4. 4. COMMON ERRORS <ul><li>Avoid building and executing HR metrics in Vacuum </li></ul><ul><li>Developing too many metrics than possible </li></ul>
  5. 5. VARIOUS METRICS <ul><li>Functional Metrics </li></ul><ul><li>Operational Measures </li></ul><ul><li>Strategic Measure </li></ul>
  6. 6. FUNCTIONAL MEASURES <ul><li>Provide employee efficiency </li></ul><ul><li>Effective measures for </li></ul><ul><li>Contribute to overall organization's performance </li></ul><ul><li>Essential for audit and accounting </li></ul><ul><li>Example : Leave consumption per employee, </li></ul><ul><li>Training , number of accidents etc. </li></ul>
  7. 7. OPERATIONAL MEASURES <ul><li>Track productivity and profitability </li></ul><ul><li>Cover extensive measures of HR effectiveness </li></ul><ul><li>Example: Profit per employee, Revenue per </li></ul><ul><li>employee , Average employee cost etc. </li></ul>
  8. 8. STRATEGIC MEASURE <ul><li>Match available capability against future need </li></ul><ul><li>Play prime part in central decision making </li></ul><ul><li>Data can be tracked either top down or bottom-up approach. </li></ul><ul><li>( Expected vs. available skill set, Intellectual capital , technology utilization ) </li></ul>
  9. 9. HR METRICS FOR LARGE ORGANIZATION
  10. 10. <ul><li>Impact </li></ul><ul><li>Effectiveness </li></ul><ul><li>Efficiency </li></ul>THREE KEY LEVELS OF METRICS Boudreau and Ramstead
  11. 11. THREE LEVELS OF METRICS <ul><li>Impact </li></ul><ul><li>What is the link between sustainable strategic success and human resource management? </li></ul><ul><li>Which talent pools are most critical for competitive advantage? </li></ul><ul><li>How could improving human capital increase value? </li></ul>Impact Source: Boudreau and Ramstead Effectiveness Efficiency
  12. 12. THREE LEVELS OF METRICS Efficiency <ul><li>Efficiency </li></ul><ul><li>What range of resources (financial and non-financial) should be considered? </li></ul><ul><li>What is the appropriate level of investments? </li></ul><ul><li>How should investable resources be allocated to maximize results? </li></ul>Source: Boudreau and Ramstead Effectiveness Impact
  13. 13. THREE LEVELS OF METRICS Effectiveness <ul><li>Effectiveness </li></ul><ul><li>What unique combination of policies and practices would best build the necessary human capital? </li></ul><ul><li>What factors link policies and practices to human capital enhancement? </li></ul><ul><li>What attributes distinguish effective from ineffective policies and practices? </li></ul>Source: Boudreau and Ramstead Efficiency Impact
  14. 14. Boudreau and Ramstead Organization HR People <ul><li>IMPACT </li></ul><ul><li>Employee Satisfaction </li></ul><ul><li>Turnover </li></ul><ul><li>Efficiency </li></ul><ul><li>Time to Hire </li></ul><ul><li>Cost per Hire </li></ul><ul><li>Headcount Ratio </li></ul><ul><li>Effectiveness </li></ul><ul><li>Customer Survey </li></ul><ul><li>“ At the Table” </li></ul><ul><li>Practice/Process Impact </li></ul><ul><li>IMPACT </li></ul><ul><li>Employee engagement </li></ul><ul><li>Workforce skill level </li></ul><ul><li>Efficiency </li></ul><ul><li>Direct Labor Costs </li></ul><ul><li>Indirect Labor Costs </li></ul><ul><li>Positions Unfilled </li></ul><ul><li>Effectiveness </li></ul><ul><li>Employee Satisfaction </li></ul><ul><li>Leadership Capability </li></ul><ul><li>Talent Retention </li></ul><ul><li>% Black Belt Leaders </li></ul><ul><li>Employer Brand </li></ul><ul><li>IMPACT </li></ul><ul><li>Productivity </li></ul><ul><li>Quality </li></ul><ul><li>Efficiency </li></ul><ul><li>Cost per Unit </li></ul><ul><li>Defects/Scrap </li></ul><ul><li>Effectiveness </li></ul><ul><li>Customer Satisfaction </li></ul><ul><li>Revenue Growth </li></ul><ul><li>Market Share </li></ul>
  15. 15. FIRST TIER METRICS <ul><li>Workforce productivity </li></ul><ul><ul><li>Utilization of resources </li></ul></ul><ul><ul><li>Money spend to increase employee productivity </li></ul></ul><ul><li>Employee Engagement Index </li></ul><ul><li>Recruiting </li></ul><ul><ul><li>No of overall days for a vacant position </li></ul></ul><ul><ul><li>The turnover rate for new hire ( Infant Attrition ) </li></ul></ul><ul><ul><li>% of diversity hire </li></ul></ul><ul><ul><li>Manager satisfaction with new hire </li></ul></ul>
  16. 16. FIRST TIER METRICS <ul><li>Retention </li></ul><ul><ul><li>Employee Turnover </li></ul></ul><ul><ul><li>Performance Turnover ( High performer and low performer turnover ) </li></ul></ul><ul><ul><li>Preventable turnover in key jobs </li></ul></ul><ul><ul><li>Diversity turnover </li></ul></ul><ul><ul><li>Attrition Cost </li></ul></ul><ul><li>Overall HR Cost </li></ul><ul><ul><li>Revenue Generated vs. Money spent in HR Cost </li></ul></ul>
  17. 17. SECOND TIER METRICS <ul><li>Compensation and Benefit </li></ul><ul><ul><li>Average employee cost vs. Revenue Generated </li></ul></ul><ul><ul><li>% employee satisfied with pay and benefits </li></ul></ul><ul><li>Employee Relation </li></ul><ul><ul><li>No of grievances received in quarter </li></ul></ul><ul><ul><li>% grievances on compensation </li></ul></ul><ul><li>Training & Development </li></ul>
  18. 18. <ul><li>Archita Panda </li></ul><ul><li>Email: [email_address] </li></ul><ul><li>Mobile: 9850094074 </li></ul><ul><li>Linkedin Profile: http://in.linkedin.com/pub/archita-panda/6/177/823 </li></ul><ul><li>End of Part – 2/3. </li></ul><ul><li>0 </li></ul>CONTACT ME FOR FURTHER DETAILS

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