Objective:
The objective of this lesson is for learners to acquire the ability to quantitatively measure and analyze the effectiveness of HR skills. By the end of this lesson, learners should be able to apply various techniques and tools to evaluate HR initiatives, from talent acquisition and development to retention strategies, and translate these findings into actionable insights for continuous improvement.
Comprehensive Content Overview:
Human Resources (HR) encompasses a range of skills and functions that contribute to the overall health of an organization. These include recruitment, onboarding, training and development, performance management, employee engagement, compliance, and benefits administration. Measuring the effectiveness of these skills is paramount to ensuring the strategic alignment of HR with business goals.
Techniques for Measurement:
- Key Performance Indicators (KPIs).
- Employee Surveys and Feedback.
- Cost-Benefit Analysis.
- Return on Investment (ROI).
- Data Analytics and Reporting.
In-depth Explanations with Actionable Insights:
Key Performance Indicators (KPIs): KPIs are quantifiable metrics that are used to gauge the performance of various HR functions. For example, ‘Time to Hire’ and ‘Turnover Rate’ are common HR KPIs.
How to calculate ‘Time to Hire’: 1. Identify the date a job requisition is opened. 2. Identify the date an offer is accepted. 3. Calculate the number of days between these two dates. 4. Average this metric across multiple hires to identify trends.
Example:
Job Requisition Opened Offer Accepted Time to Hire (Days) January 1 January 30 29 February 1 March 1 28
Employee Surveys ...
