- HR Service Delivery:
- Employee Satisfaction Survey
- HR Operations SLA’s- A service-level agreement (SLA) is a document describing the level of service expected by a customer from a supplier, laying out the metrics by which that service is measured
- Process Efficiency/ Effectiveness
- Cost of Services
- Reengineering of process- Start afresh without earlier process’s constraints.
- Talent Acquisition Metrics
- Turnaround Time
- Fulfilment Index
- Yield per Campus/ Recruitment Drive
- Joining Ratio
- Cost per Hire
- Ageing Analysis
- Source Breakdown
- Measurement of Quality of Hire
- Retention Metrics
- Voluntary vs Involuntary
- Attrition- Reason of Breakdown
- Cost of Replacement and Cost of Bad Hire
- Compensation and Benefits Metrics
- Payroll efficiency
- Incentive Penetration’/ Effectiveness
- Rewards and Recognition Penetration
- Tax Efficiency
- Strategy- Mission vs Vision
Strategy is nothing but the path to achieve goals. We must know how our Business makes money. Then we should try and understand the strategy of the business. All the assumptions need to be tested on ground and the myths need to be busted.
We should find alternatives with real data as part of our strategic planning.
- Corporate Scorecard and Business Head Balanced Scorecard
Corporate scorecard reflects Growth with Margins while a business head Scorecard depicts the people cascaded to reach the business goal. Ensuring growth with right margins and realisation of both on-site and off-site employees helps in effective utilisation of resources and completion of project on time and within budget.
- Lean Six Sigma
This methodology is followed at GE, that relies on a collaborative team effort to improve performance by systematically removing waste
- Automation vs Optimisation:
We should first optimise and then automate to newer technology and innovative tools.
The first step is to assume a linkage between the data and productivity and optimise tools accordingly.
- Project Scorecard and its Benefits:
- On-time Delivery
- On-Budget Delivery
- Time Sheet Compliance
- Business Goals and HR Strategy Linkage:
On one side we pick up the business imperative which is a major change or goal that the company promises to reach. Unlike an idea, an imperative does not have the option of not working. On the other hand we depict our Business Priority. Then ultimately we link both.
- For each strategic objective we should organize a workshop with the HR teams and then convert the business imperatives into balanced scorecards.
- GE-SBI Scorecard:
The pillars are people, diversity and growth which are then classified under Key HR Goals, Key Metrics, Sub Metrics, Unit and Reporting.
- Goal Decomposition Matrix:
Balanced Scorecard is the end product. The Best way to develop an equation is to use the goal decomposition matrix and using the right measure to align with HR strategy.