Key Metrics across Retention, Recruitment and Performance Management

Categories: Blog,Session Report

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Ajay Bhatia Vice President- Corporate HR Innodata Inc

  1. Where HR Professionals lag?
  • Implementation of new ideas as no one is ready to try something new and dirty their hands if it doesn’t work out.
  • Mapping of journeys according to the changing environment.
  • Better understanding of SMAC
  1. Output vs Outcome:

Output is ‘the What’ whereas Outcome is ‘the Why’. When we use an output it gives meaning, results, consequences, relationships i.e. it leads to Outcome.

  1. Metrics, Analysis and Analytics:

Metrics is a quantitative measure to assess performance, progress etc. Analysis is the process of breaking a complex topic. Analytics is the science of logical analysis and relationship of multiple metrics.

  1. Classification of Metrics
  • Business cares about
  • Only HR cares about
  • Nobody cares
  1. Metrics and KPI:

A metric graduates a Key Performance Indicator (KPI). KPI is a measurable value that demonstrates how effectively a company is achieving key business objectives. Organizations use KPIs to evaluate their success at reaching targets.

  1. How to identify a good KPI
  • Acquire good understanding of business
  • Translate business objectives into measureable goals
  • Select an appropriate KPI for each goal.
  1. Traffic Light Stories:
  • Green: On plan/ to goal
  • Yellow: Not on plan/ at risk/ Improving
  • Red: Off Plan/ off goal/ Fixing
  1. Business Expectations

An overall picture or a summary is a must before we take them into individual data elements.

Majority of businesses care only about: Quality, Speed and Cost

  1. Recruitment Metrics: How to Calculate Quality of Hire?

(PR+HP+HR)/ N

Where,

PR= Performance rating

HP= % of new hires reaching acceptable productivity with acceptable time frame.

HR= % of new hires retained after 1 year.

  1. Approaches and Measures
  • Net Promoters Score(NPS)
  • Relative Market Share
  • Order fulfilment cycle time
  • Process downtime level
  • Peer review rate
  • Cash Flow: DSO and DPO

 

HR Metrics and Analytics provide no returns unless managers make a difference.

Author: Ayushi Surana

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