Remove 2015 Remove Benchmarking Remove Compensation Remove Metrics

Cost-per-hire metrics, demystified

Workable

Cost-per-hire (CPH) is one of the most intriguing recruiting metrics. SHRM and ANSI define this additional cost-per-hire metric. The RCR formula is: You may include total annual compensation before new hires complete their first year. In this case, total annual compensation will be the amount you agreed upon through the employee’s employment contract. If the new hire’s compensation is $60,000 then RCR=(10,000/60,000)*100%=16%.

Align Your Compensation Strategy with Business Priorities

Compensation Today

Taylor, PHR, SHRM-CP, PayScale Senior Blogger At the intersection of business objectives and recruitment is a strong compensation strategy. As we found in the 2015 Compensation Best Practices Report in about half of the companies we surveyed, the CEO is primarily responsible for setting compensation budgets, while the Head of HR is primarily responsible for setting compensation structures. Tess C.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Executive Compensation 101: What to Consider

HR Daily Advisor

How do you decide the appropriate level of compensation? How do you align executive compensation goals with the overall company compensation philosophy? Creating an appropriate executive compensation package is vital to getting and keeping the best-suited executives for your organization. As with any role in the business, the compensation package should be tailored not only to the skills required but also to organizational needs. Other metrics?).

How do Compensation Planning Tools work?

HRsoft

Compensation today has moved far beyond the mere exchange of money for talent (or time). A high quality compensation plan must be able to: Make the most of each budget allocated to each department and employee. Businesses should invest in strategic compensation planning that doesn’t assign random pay packets to employees but considers the implications of every dollar spent and strives to be internally equitable and externally competitive.

What’s Your Most Useful Metric? More Results of Our HR Metrics Survey

HR Daily Advisor

In yesterday’s Advisor , we shared some of the results of our nationwide survey on HR metrics. Today, more of our findings, including measures of turnover, compensation, and training. 604 individuals participated in the HR Daily Advisor ’s HR Metrics Survey, conducted in April 2015. Turnover is clearly a very important metric for the HR professionals we surveyed—78% of participants measure it. Compensation-Related Metrics. Benefits and Metrics.

How HR Can Tackle Diversity Using the Rooney Rule

Visier

In August 2015, the need for more workforce diversity was spotlighted in a big way when President Obama issued a call to action to technology companies, encouraging them to hire more women and minorities by implementing the Rooney Rule. Consequences of this can range from reduced competitiveness and productivity to increased employee turnover to higher compensation costs. Here are a few demographic metrics you should be monitoring: 1.

How Scarcity and Attrition Might Ruin Recruitment Planning

HR Daily Advisor

To successfully meet demands in this area, you need to partner early; otherwise, there will be an impossible plan that demands nearly immediate hiring of scarce applicants without adequate compensation. Recruiting is a challenge for 2015. Learn what’s happening in the real world with our new research report, Recruiting Best Practices: Finding and Attracting Talent in 2015’s Challenging Business Climate. What do benchmark data reveal about industry and occupation trends?

Lessons from our research: Ways to build a diverse, inclusive organization

HR Times

Posted by Josh Bersin on December 17, 2015. We just completed a two-year research study (our 2015 High-Impact Talent Management research ) and the results are profound: among more than 128 different practices we studied, the talent practices that correlate with the highest performing companies are what we call building an “Inclusive Talent System.” Global Human Capital Trends 2015 Explore the trends.

HR Must Modernize to Meet New Employee Demands

Oracle HCM - Modern HR in the Cloud

There’s an element of big data that allows you to benchmark yourself against other organizations in your industry. For example, if you’re adjusting compensation models, you want to look at turnover, financial performance, and compare them to the cost of living where you’re recruiting. All of those things come together when analyzing a compensation plan. You can put rules around certain metrics you want to see on a regular basis. By Rick O'Herron.

Top 3 Workforce Risks In Financial Services

SAP Innovation

Just 38 percent of financial services executives say they use quantifiable metrics and benchmarking for workforce development, and 35 percent say they know how to extract meaningful insights from data. Sixty-eight percent of employees say competitive compensation is among the most important benefits to them but only 40 percent of companies say they provide it.

Using Employee Feedback Data to Train the Next Generation of Management

Kazoo

Key Metrics. Depending on the needs of your business, as well as the industry, these metrics can vary, but they should all focus on the happiness and engagement of your workforce. Common benchmarks include: Personal and Professional Growth – Growth, in all its forms (salary, title, recognition), is an intrinsic motivator for the majority of people. Recognition and Rewards – Employees value recognition over other forms of gratification, including base compensation.

Using Employee Feedback Data to Train the Next Generation of Management

Kazoo

Key Metrics. Depending on the needs of your business, as well as the industry, these metrics can vary, but they should all focus on the happiness and engagement of your workforce. Common benchmarks include: Personal and Professional Growth – Growth, in all its forms (salary, title, recognition), is an intrinsic motivator for the majority of people. Recognition and Rewards – Employees value recognition over other forms of gratification, including base compensation.

How HR Can Tackle Diversity Using the Rooney Rule

Visier - Talent Acquisition

In August 2015, the need for more workforce diversity was spotlighted in a big way when President Obama issued a call to action to technology companies, encouraging them to hire more women and minorities by implementing the Rooney Rule. Diversity metrics that support Rooney Rule initiatives.

The Employee Experience Imperative: Q&A with David Johnson

Ultimate Software

This post was commissioned by Ultimate Software and the author has or will receive compensation for their work. Deloitte’s Global Human Capital Trends Report 2015 offers another reason for persistently low engagement scores: Most business and HR leaders believe that they lack the capabilities to meet the challenge of engaging employees. What tools and methods can HR and business leaders use to establish an employee experience benchmark and continue to improve?

AON 145

15 HR Analytics Case Studies with Business Impact

Analytics in HR

On March 13 2015, the Wall Street Journal published an article titled: “The Algorithm That Tells the Boss Who Might Quit”. Nielsen created a similar predictive model back in 2015. Absenteeism in this German 43,000 + people energy company has risen above benchmark. the UK retail business has systematically out-performed internal targets and external benchmarks, year on year. Business performance would increase if these three metrics would go up.

How to Elevate HR (And Keep the C-Suite Happy)

WorkHuman

In the 2015 Deloitte Millennial Survey , 6 in 10 millennials said “sense of purpose” is part of the reason they chose to work for their current employers. HR’s relationship to corporate boards of directors is traditional—the function most frequently advises on executive compensation and succession. Consider a social recognition program that gives everyone from managers to executives customized reports that benchmark engagement and culture.

Be careful! These books can change your career: People Analytics and HR-Tech reading list

Littal Shemer

The book covers the full People Analytics scope (Benefits, Compensation, Culture, Diversity & Inclusion, Engagement, Leadership, Learning & Development, Personality Traits, Performance Management, Recruitment, Sales Incentives) with numerous real-world examples, and shows how R can help”. Tracing changes in a global sample of firms, it provides an international benchmark against which to measure a company’s HR practice. Predictive HR Analytics: Mastering the HR Metric.

Hiring the Wrong Salesperson is a $2-Million Mistake

HR Daily Advisor

Looking to build and perfect that 2015 comp plan? complete guide to compensation plans, Bring Back the Sizzle: PayScale’s Guide to Comp Plans That Get Workers Fired Up (In a Good Way). One trick that DiMisa is seeing is companies who set salary benchmarking targets at 60% to 75% of market—“We’re going to pay at 75%”—to attract people paid at market. The stakes are very high when it comes to hiring salespeople, says Consultant Joseph DiMisa.

Annual Performance Reviews Aren’t Dead, but They Do Need New Life

Capterra

The Society for Human Resource Management (SHRM) suspected they were on their last legs back in 2015 before a number of sources officially called time of death earlier this year. Top performers were more likely to be dissatisfied with compensation decisions because managers couldn’t adequately explain how pay decisions were made. When managers have only a single dashboard of metrics and their limited memory to rely on in annual reviews, these biases influence decisions.