Employee turnover is the HR metric that is most closely analyzed and acted upon by organizations, but it shouldn’t get all the attention.
In fact, a recent survey of HR professionals found that time-to-fill, employee absence, and cost-per-hire were some of the other most analyzed metrics after employee turnover.
“In God we trust; all others must bring data.” – William Edwards Deming
Note: This blog post is a contribution to the #SHRM19Blogger website. If interested in discovering other amazing HR bloggers, please click the link to read other posts!
On January 20, @shrmnextchat chatted with SHRM Manager of Workforce Analytics and Research John Dooney (@shrmanalytics) about How Organizational Size Affects HR and Metrics.
In case you missed this informative chat, you can read all the tweets here:
Performance is undermined when employees don’t understand the incentive plan or its metrics
Finding the right mix of incentives necessary to maximize employee performance can be a challenge. However, as employers continue to rely more heavily on variable pay to supplement flat salary-increase budgets, relevant, actionable and easily understandable performance metrics become an even more important element of effective incentive programs.
