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10 vital HR metrics to track for your business

Business Management Daily

Human resources analytics, a relatively new discipline, is growing at an extraordinary rate and is quickly becoming an essential competency for HR professionals, according to Dr. Michele Rigolizzo, an assistant professor at the Feliciano School of Business at Montclair State University. That said, medium and large companies will benefit most.

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Ask Visier: How Do You Determine if Your Organization Pays Equitably?

Visier

Ask Visier is a weekly column where a people analytics expert dives into one of the 2000+ business questions available in Visier and shares how to take action on the answers you might uncover on that topic. For example, you can start by comparing groups in the same department, role, and/or location.

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A Guide to Compensation Analysis

Analytics in HR

For example, Salesforce found that their engineer salaries were comparable to engineers at Microsoft. As an example, Slack traditionally compensated employees based on localized benchmarks in their New York and San Francisco offices. You may be able to find different ways to remunerate employees, for example.

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What Is Salary Range Penetration? Definition, Use, and Examples

Analytics in HR

Let’s have a closer look at this metric and find out how HR can enable managers to use salary range penetration in their hiring, salary raise, and promotion decisions. It gives you very similar information to the compa ratio metric. In compa ratio, it’s simply the salary divided by the salary range midpoint.

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Why Internal Mobility is Key to Building a Diverse Workforce

Visier

In addition to boosting employee retention, this can also support a strategy of hiring from within the organization instead of competing on the open market for talent. “?An Companies now have to rethink their workforce and hiring strategies and instead invest in upskilling their workforce,” she states. Step 4: Measure progress.

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Recap of HR Technology Conference 2019

Visier

This kind of enthusiasm made the launch of our new people analytics solution for mid-market organizations even sweeter. Take a look at our key takeaways (link below) to discover what else is new in the HR technology landscape, employee well-being, AI in recruiting, and more. Download the 2019 HR Tech Key Takeaways. The winner.

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Executive Scorecard: HireRoad’s Top HR Dashboards

Acendre

For example, if first year turnover is an area of concern, the scorecard can be used to track investments such as retention programs, employee surveys, and training sessions to monitor if these investments are making a difference. For example, let’s take a look at the metric, Compa Ratio. This is a common metric to assess pay.

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