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The 21 metrics you need for Strategic Workforce Development

Analytics in HR

In this article, we will explore the key metrics that you need to prepare your organization for the future. For this article, I want to zoom in on the data and metrics that are useful to create in the Strategic Workforce Development process and why. This is where strategic workforce planning, or development, comes in. The must-haves.

Metrics 101
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What is HR Analytics? All You Need to Know to Get Started

Analytics in HR

Importance of HR analytics HR analytics examples Key HR metrics Data analytics in HR: How to get started How to transition from descriptive to predictive and prescriptive analytics in HR HR analytics certification FAQ What is HR analytics? Furthermore, analytics helps test the effectiveness of HR policies and interventions.

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HR in 2024: Shaping Tomorrow’s Workforce Through Bold Leadership

HR Digest

“As Baby Boomers and Gen Xers get closer to the ends of their careers, we’ll see a bigger emphasis from employees and employers on financial wellness and retirement preparedness. In 2024, financial wellness will be front and center as employers take a more active role in ensuring their employees are financially prepared to retire.

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Calculating and improving your attrition rate: Metrics that matter

Bob

This is essentially the opposite of attrition metrics, which measure the percentage of employees who leave the company. The truth is that retention is a complex metric that, on its own, doesn’t tell us all that much about organizational health. It can often be inevitable due to retirement, layoffs, and resignations.

Metrics 148
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Want a Career in Human Resources? Your In-Depth (2023) Guide

Analytics in HR

HR must ensure they receive the correct pay and benefits, such as health insurance, retirement plans, wellness programs, and leave credits. HR also manages payroll and prepares and documents HR policies and procedures.

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How to Become a Human Resources (HR) Manager: The Definitive Guide

Analytics in HR

Performance management : HR managers facilitate performance evaluations, establish performance goals and metrics, provide feedback, and implement performance improvement plans when necessary. Policy development and compliance: They develop HR policies and procedures, ensuring compliance with labor laws, regulations, and industry standards.

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From Compliance to Talent Management: The 15 Essential HR Responsibilities

Analytics in HR

Today, HR professionals play critical roles in policy development, onboarding, manager training, employee experience, digitalization, and much more. They establish metrics that align with the plan and provide regular feedback, facilitating employee improvement and contributing to achieving the company’s objectives.