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The purposes of an organization’s human resources are to add value to the company, to help make the company more competitive, and to greatly help the organization obtain its business objectives. The purposes of HR metrics are to help the organization discuss the value, to determine and calculate the contribution made by the human capital, and to calculate and predict employment-related risks. Hence in being a strategic business partner, HR experts have to certainly communicate the language of business. Inherent in this language is the lexicon of business measurements and metrics – including HR metrics.
This new 2019 HR Metrics session reviews the utilization of HR metrics and analytics as a key competency reviews the role they play in helping the business make critical business conclusions, discusses the computation of employment practices risk, and provides a list of more widely used HR metrics.
HR metrics and analytics play a vital role in business management. Top management makes use of HR analytics as a crucial part of its strategic planning and application activities. It increasingly makes essential decisions based on the important data HR analytics provides.
Operational management relies on HR metrics to ascertain and handle vital operational and transactional issues. HR metrics gives them the power to understand, anticipate, handle, and monitor important areas and make them facilitate central organization-wide decision making. For operational administration, HR metrics can provide real-time data on how effectively operations are running.
For HR professionals, HR metrics and analytics can provide crucial and useful information about how effectively the organization uses this intangible resource – its employees. For HR Professionals, HR metrics provides a scorecard of employment practices.
Thus HR metrics and analytics provide all levels within the organization crucial information about how effectively the organization is reaching their strategic objectives, their marketplace competitiveness, and the risks it faces.
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.
Mr. Adler is the developer of the Employment-Labor Law Audit™ (ELLA®), the nation's leading HR auditing and employment practices risk assessment tool, and is a frequent lecturer and author on HR management and workplace issues. As an adjunct professor at Villanova University, Ronald teaches graduate courses on HR auditing. He is also a certified instructor on employment practices and insurance issues for The CPCU Society, has conducted continuing professional education courses for the American Institute of Certified Public Accountants on "Assessing Employment and Personnel Policies," and has conducted continuing professional education courses for SHRM, the Institute of Internal Auditors, and the Institute of Management Consultants.
As a member of the Society for Human Resource Management (SHRM), Mr. Adler has served as a subject matter expert (SME) to SHRM on HR metrics and formerly served on SHRM's Human Capital Measurement/HR Metrics Special Expertise Panel. He has also served as a consulting expert on workplace issues to SHRM's legislative staff, has contributed materials for The SHRM Academy and the SHRM Learning System, and has represented SHRM in meetings with the EEOC.
Ronald has also served as an appointee to the State of Maryland Legislative UI Committee. Additionally, he belongs to the Institute of Internal Auditors, chaired the Maryland Chamber of Commerce's UI Subcommittee and served as a member of the U.S. Chamber of Commerce's Labor Relations Committee. He holds a bachelor's degree in finance from the University of Maryland and an M.B.A. degree from Southern Illinois University