A new study on HR metrics by i4cp shows that higher-performing companies are more apt to measure talent-related metrics than lower performers. Common talent-related metrics include movement within the organization, quality of hires, quality of promotions and the cost of training/development.
For example, 93% of higher performers measure employee engagement, compared with 79% of lower performers. In this economy in particular, engaging the workforce is of paramount importance.
93% of higher performers utilize employee engagement surveys, compared with 78% of lower performers. Ninety percent of high performers report the use of satisfaction surveys for such measures, compared with 68% of lower performers.
As HR continues its quiet evolution to organizational performance advisor, the business partner role will continue its shift. The sourcing of this role will evolve, as will the competencies companies are looking for and the organizational structures they put in place to support it.
Using HR metrics for maximum impact – CIPD online practical tool
According to CIPD, developing the right HR metrics for your specific context which support long-term performance is an area that many organisations struggle with. However, we found that it is considered a high priority to get right, as it is through effective measurement, assessment and evaluation that it’s possible to provide insights about past performance and also ‘take the temperature’ of the
organisation at present.
CIPD research, in particular our Shaping the Future programme of work, has highlighted the importance of using HR metrics for maximum impact, drawing out insights from data to inform future direction and hence drive sustainable organisation performance.
This practical tool is the fourth in a series of four tools which build specifically on the Shaping the Future insights. This programme involved rigorous research over a two-year period and uncovered eight themes that we believe are important for long-term performance.
This tool focuses on insights related to measurement, assessment and evaluation. We look at what HR professionals can do to generate insight through the development and use of key metrics that are aligned with organisational goals. Effective and efficient assessment processes enable HR leaders to take and influence decisions in a way that creates value and stimulates change and improvement.