To ensure compliance with the requirements that governmental and regulatory expect from them, employers must create, maintain, and demonstrate procedures and activities that are in compliance with the laws. Employers are also under pressure from investors, lending institutions, and third party administrators to ensure that resources are properly used and that results are properly reported.
To ensure these, employers need metrics and measurements that are strategic, operational, and transactional. These metrics should help them identify monetary and non-monetary risks and help them manage revenue generation, productivity, labor costs, and profitability.
Understand the nuances of HR metrics
A detailed understanding of HR metrics will help organizations achieve these business aims. To help them do this, TrainHR, a very popular provider of professional trainings for the HR industry, is organizing a webinar. Ronald Adler, who is the president-CEO of Laurdan Associates, Inc., will be the speaker at this webinar. To enroll for this very important aspect of assessing employee abilities, please log on to http://bit.ly/2f6XSHt . This webinar has been approved for 1.5 HR (General) recertification credit hours toward aPHR, PHR, PHRca, SPHR, GPHR, PHRi and SPHRi recertification through HR Certification Institute (HRCI).
HR metrics should be all encompassing
These metrics should be developed not exclusively from the HR’s perspective, but from the entire organization’s. They should be equitably distributed between the HR and the C-suite, other departments, and line managers. They should contribute to informed decision-making by taking the input of stakeholders into consideration. So, HR metrics should be predictive and action oriented. HR metrics should focus on outcomes rather than numbers.
Most important of all, HR metrics should be measurable, because as is known in business, what cannot be measured cannot be managed. This measurability is a critical component of the HR auditing process.
HR metrics should serve a number of purposes, such as:
- Helping in evaluating the value and contribution of the organization’s human capital;
- Focusing the organization’s attention on how human capital helps it achieve its business objectives;
- Helping the organization measure and assess human capital management and employment practices liability related risks;
- Helping the organization assess individual and organizational performance.
Selection of the right metrics is all important
How an organization selects and uses HR metrics specific to it is an indication of how well HR understands the organization’s needs and the metrics’ ability to deliver. HR metrics should assist an organization identify weaknesses and failures in its human resource management and employment practices compliance activities. The selection or omission of the appropriate HR metrics is an indicator of the organization’s ability to judge what is best suited to it.
The most important outcome of putting the right HR metrics in place is that it should lead to a proper assessment of the organization’s performance and should provide it with the inputs needed to evaluate human capital outcomes.
This webinar will show to employers how they need to put metrics in place to measure the employment brand and organizations’ ability to attract and retain top performers and ways to measure legal and statutory non-compliance. It will discuss the use of HR metrics in helping organizations assess these risks, and discusses the use of HR related Key Compliance Indicators (KCIs) that can be used as an element of a continuous audit process that provides assurance of compliance.