247compliance is recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP or SHRM-SCP. This program is valid for 1.5 PDC for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit shrmcertification.org.
It is increasingly assumed that HR professionals have a working knowledge of the key tactical and operational metrics that measure the role and the value of HR. However, as HR moves into higher positions within their organizations and as managing human capital becomes more critical to their organizations success, HR professionals must increasingly also have a working knowledge of the key strategic metrics. That means that HR professionals must be able to identify and present key HR metrics that will help their organizations make critical decisions, identify and plan for risks, and improve the bottom line.
Strategic HR metrics play an increasingly important role.
Such metrics as the Revenue-per-Employee (RPE) and the Return on Investment (ROI) are now standard measurements and ones that should be regularly measured human resources. Other metrics such as implemented impact of innovations on corporate revenue and the recruiting and employer branding effectiveness are also gaining attention. Together these and other important metrics are becoming important metrics that should be measured and watched.
As organizations increasingly place value on business metrics, HR will need to identify and update the strategic and operational metrics that it measures and reports.
The purposes of an organization’s human resources are to add value, make the organization more competitive and help the organization achieve its business objectives. The purposes of HR metrics are to help communicate the value added, demonstrate the contribution of human capital and measure employment related risks. As HR professionals are increasingly expect to become strategic partners, they increasingly need to understand and speak the language of business. Inherent in that language is the lexicon of business measurements and metrics - including HR metrics.
In this environment, HR professionals are increasingly being expected to become important contributors in their organizations planning and discussions activities. As a result, HR professionals must develop and maintain an understanding of the key strategic and operational issues affecting their organizations. This webinar discusses the use of HR metrics as a core competency, reviews the role HR metrics play in helping the organization make critical business decisions, describes the calculation of employment practices liability risk exposure and provides a discussion of some of the more widely used HR metrics.
Since HR metrics can assist your organization identify weaknesses and failures in its human resource management and employment practices compliance activities, your organization’s selection and use of specific HR metrics is not only an indicator of what issues it considers important, but is also an indication of your organization’s commitment to identify and ferret out ineffective or unlawful practices and processes. Thus, your organization may be scrutinized not only on the issues it chooses to measure, but also the issues it chooses to ignore.
Thus, your use of HR metrics considers both quantitative and qualitative methods and measurements, should help you assess your organization’s performance, and should provide you with data that will allow you to evaluate human capital outcomes.
This webinar identifies and discusses many of the HR metrics and measurements currently being used. It is designed to provide background material to help you analyze key metrics, help you determine the “right” metrics for your organization, and assist you use these metrics in the decision m making process.
Ronald Adler is the president-CEO of Laurdan Associates, Inc., a veteran-owned, human resource management consulting firm in Rockville, Md., specializing in HR audits, employment practices risk management, benchmarking and HR metrics, strategic HR, employee surveys, and unemployment insurance issues. Ronald has more than 42 years of HR consulting experience working with U.S. and international firms, small businesses, and non-profits, insurance companies and brokers, and employer organizations. He is a consulting expert on workforce, employment practices, and unemployment insurance issues to Bloomberg BNA, HR Magazine, and other publications and newspapers across the country. His research findings have been used by the Federal Reserve Board, the Equal Employment Opportunity Commission (EEOC), the National Conference of State Legislatures, the National Association of Manufacturers, the National Federation of Independent Business, insurers, and international organizations.