INTERVIEW: Dr. Jac Fitz-enz on Human Capital Metrics

HR Bartender

In 1977, you founded the Saratoga Institute (SI), which is well-known for its work in human capital metrics. Only by showing them how to evaluate improvements in staffing, compensation, development, and retention in terms of cost reduction, process times, quantity produced, quality of the outcomes and reactions of the company’s management and employees did they begin to come around. Is there a place in HR for both metrics and analytics? I’m a self-professed math geek.

A Crash Course in Key Compensation Metrics

Namely - Talent

As HR professionals, we may not need to be experts in math and statistics—but most of us need to have an understanding of compensation metrics. After all, understanding the key metrics is a crucial part of managing your organization’s compensation plan. HR HR Metrics Compensation

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HR Metrics to Follow / Implement in 2019

CakeHR

Our goal is to make your job simpler by presenting HR metrics to follow in 2019. To cut the long story short, you have to follow key HR metrics because: Only 20% of employees strongly agree that their performance is managed in a way that motivates them to do outstanding work. There are all sorts of aspects to analyze here, but 10 metrics are more important than the rest. This metric may not be as precise as the first one, but it’s sometimes even more important.

24 HR Metrics to Track and Measure

Achievers - Recruiting

It can provide your organization with valuable insights related to job design, recruiting, compensation, employee training, and more. By tracking key HR metrics, you can see where your organization is strong and what needs improvement. Using HR metrics.

Un”comp”licating Compensation - Building a Brand People Want to Work for

Speaker: Kathy Steele, CEO, Red Caffeine

Are people your greatest asset? Then fair and transparent compensation and benefits are the way to affirm your organization is dedicated to this pillar of the business. However, having a strategic comp philosophy is only one part of becoming an employer of choice. It is critical to showcase your company culture, establish an employer brand foundation, and modernize your talent strategy. With unemployment levels nearing all-time lows, it’s time to get started and embed your comp practices into a part of your overall employee experience. Join Kathy Steele, an accomplished serial entrepreneur, employer branding expert, and CEO of Inc. 5000 winner Red Caffeine, as she tackles the common business challenge of setting a compensation strategy that aligns with your culture to help you build a brand to attract, engage and retain top talent in a job seeker’s market.

19 Recruiting Metrics You Should Know About

Analytics in HR

Recruiting metrics are an essential part of a data-driven hiring and recruitment analytics. However, if you would keep track of every recruiting metric you could find on the web, you’d have no time left to do actual recruiting! But first, let’s answer the question: What are recruiting metrics? What are recruiting metrics? Recruiting metrics are measurements used to track hiring success and optimize the process of hiring candidates for an organization.

2021 Compensation Budgeting Forecast Part 2: Incentives, Bonuses, and Variable Compensation

Astron Solutions

2021 has been a year of uncertainty, especially in terms of compensation increase budgeting. As a result, organizations around the country are reexamining their variable compensation strategies and the impact on employee engagement & recognition.

Compensation Planning During a Pandemic

Affinity HR Group

The varying impacts of 2020 and all the unknowns of 2021 make compensation planning more important than ever. States and municipalities have enacted legislation that impacts compensation at breakneck speed. Review Compensation and Related Policies and Procedures.

Cafe Classic: Life Cycles and Compensation

Compensation Cafe

Compensation programs need to adapt to these different stages as companies grow and evolve. For example, compensation plans needed for start-ups are very different compared to those needed for mature companies. Let’s see how the various stages impact compensation. .

Rewarding Ambition: Determining Compensation Within Your OKR Process

15Five

One of the most common questions we get asked as leadership team coaches is how Objectives and Key Results (OKRs) should be used to determine salary, compensation, or bonuses. A growing number of organizations are eliminating the annual performance review altogether, but a need still remains for metrics and KPIs to determine compensation and promotions. You’ve likely already heard that OKRs should not be tightly coupled with employees evaluation and compensation.

People, HR & Analytics

Speaker: Rodney B. Bolton SPHR, CEO, HR BIZZ

Join us to learn how to empower your organization to align metrics with strategic business goals, using HR analytics.

Top 10 Recruiting Metrics that Every Manager Should Know

SurveySparrow

With the employment market getting more competitive, a vast majority of the hiring managers today rely on technology ( recruitment software ) and data-driven recruitment metrics to streamline the hiring process. What are Recruitment Metrics? Top 10 Recruitment metrics for every manager.

Cafe Classic: Black Holes and Compensation Metrics

Compensation Cafe

It's a little-known fact, but the fields of astrophysics and compensation are closely related. Similarities are particularly apparent between black holes and compensation metrics. We know that black holes and compensation metrics exist, but the full extent of their innermost mysteries are yet to be revealed. With that in mind, here are five things black holes can teach us about compensation metrics. The same is true for compensation metrics.

Compensation Dentistry (part 1)

Compensation Cafe

Compensation programs can often be the same. It is the rare compensation professional who gets excited about these impending issues. Just like the fact that most kids don’t grow up wishing to be a dentist, few compensation professionals aspire to be mavens of incentive plans. They also play vastly different roles in each companies compensation philosophy and in each individual’s total rewards package. When is the last time you reviewed the metrics used for each plan?

Futureproof Your Organization with These 8 Manager Effectiveness Metrics

Visier

Whether your organization is ready to adapt these new roles or wishes to coach current managers to be more effective, this updated article provides the key metrics you need to measure their success by. . If your business is moving towards a dual management structure system, gaining clarity around hiring, compensation, and performance will become even more important. Here are two distinct sets of metrics for each type of manager.

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%.

How to Revise Your Sales Compensation Plan during Covid-19

HR Digest

Should you make any changes to your incentives and sales compensation plan in the current economic landscape? A March survey from Willis Towers Watson found that 75% of companies did not plan on making adjustments to sales compensation plans at that time. Compensation Relief Committee.

The Secret To Selecting and Measuring Key Employee Performance Metrics

EmployeeConnect

Measuring critical employee performance metrics offers organisations key benefits for attracting and retaining top talent while meeting operational imperatives. The primary benefits of employee performance metrics are tied to fostering better employee engagement, which enhances productivity, innovation, creativity, employee loyalty and longevity. That’s why today’s software applications for measuring key performance metrics are so valuable.

Compensation Cafe: A Question of Measurement and Value Creation

RecognizeThis!

Nonfinancial metrics are increasingly used in compensation formulas; recent research and trends in crowdsourced data may improve the value of these trends. Getting compensation formulas right can be challenging, ensuring that leaders maintain a balanced focus on short-term results as well as long-term value creation. Traditional levers in those formulas have been in the form of various financial metrics. By Derek Irvine. Recognize This!

21 Employee Performance Metrics

Analytics in HR

Employee performance metrics are key to tracking how well employees are performing. However, when done right, employee performance metrics benefit both the organization and the employee. We listed the most important ones below and included some practical examples of each metric. There are various kinds of employee performance metrics. Work quality metrics. Work quantity metrics. Work efficiency metrics. Organizational performance metrics.

How HR tech can help manage COVID compensation changes

HRExecutive

This is the first in a series on compensation during the pandemic. *. Effectively deploying a fair, equality-driven compensation plan has been an ongoing challenge for HR executives.

10 Crucial Employee Engagement Metrics For Successful Surveys

Vantage Circle

As such organizations around the world are now trying to bridge the gap between them and their employees by taking into account the various employee engagement metrics. Measuring Employee Engagement and it’s Relation with Engagement Metrics. Compensation.

Human Resources KPIs: An In-depth Explanation with Metrics & Examples

Analytics in HR

KPIs are strategic metrics. Only metrics that have a direct link with the organizational strategy can be called KPIs. Human Resources key performance indicators (HR KPIs) are metrics that are used to see how HR is contributing to the rest of the organization. Don’t be fooled: most of these are simple HR metrics that are not important to track, as they usually don’t align with organizational strategy.

How to Update Compensation Without Performance Ratings

Reflektive

But for many companies, removing ratings puts compensation into a black box — employees don’t know how their raises and bonuses will be decided, possibly undermining the goal of removing ratings. Here are some ways you can determine compensation without annual performance ratings. Employees who decide their own compensation are more invested in their company and have higher performance, according to Lisa White, CEO of White Andreetto. Formula Based on Company Metrics.

Sales Compensation During Turbulent Times

SuccessFactors

Sales compensation may not be top of mind during these turbulent times, but it does affect a number of people in the front lines of business, including your sales organization. Sales compensation levers can enable established sales organizations to support and retain sales talent. The most successful compensation levers introduce the ability to adjust the expected outcomes with alternative success criteria. Shifting metrics and KPIs to activity-based compensation.

Sales Compensation During Turbulent Times

SuccessFactors

Sales compensation may not be top of mind during these turbulent times, but it does affect a number of people in the front lines of business, including your sales organization. Sales compensation levers can enable established sales organizations to support and retain sales talent. The most successful compensation levers introduce the ability to adjust the expected outcomes with alternative success criteria. Shifting metrics and KPIs to activity-based compensation.

Unleashing Your Inner Scientist: Lab Mindsets & HR/Compensation Experiments

Compensation Force

I agree with the direction of this thinking, that moving compensation (and all HR) programs and practices forward, at the ground level where most of us live and work, will happen through evidence-based learning and innovation, through tinkering and tailoring , and through raising the bar on our understanding of fundamental data analysis. Experimentation, it seems, is on a lot of our minds lately. As one example, check out Mercer's great piece on Cultivating a Lab Mindset.

Compensation Communications that Hit the Mark This Time

Compensation Cafe

What have data and analytics got to do with compensation communications? Imagine you had to tell the Compensation Committee that the company couldn't afford one of their proposals. Of course, there are new compensation practices to take into account as well.

Quality Over Quantity—Choosing the Right Recruiting Metrics: The 7 metrics that matter, and the 7 that don’t (as much)

Visibility Software Recruiting

What recruiting metrics should you be measuring, and how can you effectively gather the needed information? There are dozens of popular recruiting metrics, including the venerable Cost per Hire and Time to Fill. And while these two tried-and-trues remain important factors to measure, there are even more insightful metrics organizations can use to steer and hone their recruiting efforts. Recruiting Metrics Cheat Sheet. 20 Recruiting Metrics and How to Calculate Them.

Five Must-Have Manager Effectiveness Metrics for Engagement, Performance, and Tech Innovation Success

Visier

How to Link Workforce Metrics With Business Outcomes, Part Two. The second in a four-part series on linking workforce metrics to business outcomes, this post looks at five key metrics for manager effectiveness that will help your organization motivate talented people. So it’s important to use metrics that will help you answer questions like: Which managers retain the most top performers? Must-have manager effectiveness metric #2: High performer resignation rate.

Balancing Compensation and Benefits to Improve Employee Experience

Semos Cloud

T his document outlines the ways in which you communicate with your employees and defin es the key metrics to track your communication effectiveness. . It aligns your choice of communication channels and key metrics with a specific goal in mind. Identify key metrics to track .

Compensation Wins Talent, Recognition Retains It

Achievers - Recruiting

Compensation as a motivator. Does compensation align your employees to your company’s mission and values? Recognition has been proven to impact key business metrics such as employee engagement, cultural alignment, customer satisfaction, innovation, wellness, and productivity. In summary, compensation will help you open the door for new talent but won’t close it behind them when they enter. He has a combined 15 years of experience in legal and compensation consulting.

7 Screening Metrics to Measure to Get More From Background Checks

Goodhire

By understanding the background check metrics that you need to measure, tracking them on a regular basis, and comparing them to your chosen benchmarks, you can proactively address any potential issues, identify inefficiencies, reduce costs, and optimize your process.

What is Conscious Compensation®?

HRsoft

Conscious Compensation® helps companies move from the traditional, capitalist approach to compensation towards practices that are more socially responsible. For decades, traditional capitalist compensation has been characterized by the following: Base wage or salary. Primarily financial metrics. Stock-based compensation focused on executives. The following 12 ideas act as the foundation for Conscious Compensation®: Based on multi-stakeholder value creation.

Compensation: The Gap in Communicating Company Culture

Everwise

Can compensation plans actually reflect a company’s organizational culture? Compensation Indicates Corporate Values. Compensation provides a direct indication of a company’s values. If a company proclaims that people are its greatest asset, compensation is one way to put the company’s proclamation to the test. For example, there are companies that place 50% or more weight on living their organizational values while making compensation and reward decisions.

Five Must-Have Manager Effectiveness Metrics for Engagement, Performance, and Tech Innovation Success

Visier

How to Link Workforce Metrics With Business Outcomes, Part Two. The second in a four-part series on linking workforce metrics to business outcomes, this post looks at five key metrics for manager effectiveness that will help your organization motivate talented people. So it’s important to use metrics that will help you answer questions like: Which managers retain the most top performers? Must-have manager effectiveness metric #2: High performer resignation rate.

Life Cycles and Compensation

Compensation Cafe

Compensation programs need to adapt to these different stages as companies grow and evolve. For example, compensation plans needed for start-ups are very different compared to those needed for mature companies. Let’s see how the various stages impact compensation. . Compensation : Salaries are limited as companies are not flush with cash. There is no formal compensation program. Decisions on compensation-related issues are handled in a discretionary manner.

What is Your Organization’s Compensation Definition?

HRsoft

A quick search for “compensation definition” tells us that this important aspect of business refers to the “direct and indirect benefits that a worker receives from an employer.” Yet, compensation meanings can be different from one organization to the next. How should compensation be defined in your company? How to Define Compensation in Your Organization. Pay for performance is a leading compensation strategy, and for good reason.

Why is Three the Magic Number for Incentive Plan Metrics?

HRsoft

The Rule of Threes states that there should be no more than three metrics involved with any incentive plan. For one, having three metrics leaves enough room for differentiation, and enough weight for the metric to have a measurable impact. Conversely, with five or more metrics, at least one will be so low in terms of payout that it is essentially designed to be ignored. Finally, focusing on just one or two metrics could work well in theory.

The Compensation and Benefits Manager – A Full Guide

Digital HR Tech

The compensation and benefits manager plays a key role in coordinating the corporate compensation and benefits department. We dive into the core responsibilities of the compensation and benefits manager, take a look at his/her salary, and finish up with an example job description. Table of content What is the compensation and benefits manager? What is the compensation and benefits manager? Compensation and benefits manager job description.