This is part 1 of a 3 part series. The following is an excerpt of our new white paper, 6 Cutting-Edge HR Metrics to Measure. To download the full paper, click here.
The future of HR is data-driven. Need numbers to back that up? In one survey, more than 75 percent of survey respondents believed analytics would either make a substantial impact or be “revolutionary” for their organizations in the coming years. According to a Bersin by Deloitte study, data-driven HR teams are four times more likely to be respected by colleagues. At public companies that invest in people analytics, stock market returns are 30 percent higher.
The data doesn’t lie. So while the profession’s focus on data isn’t going anywhere, it’s definitely evolving; traditional HR metrics like turnover and retention aren’t cutting it anymore. In their place are new, cutting-edge metrics like quality of hire, career path ratio, and range penetration.
If that didn’t make any sense to you, don’t fret—we’ve got you covered. In this guide we’ll explore the critical HR and compensation metrics you and your team need to add to your repertoire. From the prep work to actual calculations, we’ll empower you to be a bonafide HR’s data scientist.
6 HR Metrics to Measure
The metrics covered in the white paper are:
- Quality of Hire
- Career Path Ratio
- Top Performer Retention Rate
- Comp Ratio
- Range Penetration
- Pay Disparities and Pay Equity
In this white paper, you will learn things like how to calculate each of these metrics, including how to run a pay equity audit. You will also learn how each of these HR metrics examples can help you improve your company brand and garner respect for your HR organization. Download the full white paper today.
TELL US WHAT YOU THINK
We want to hear from you. What are the most effective HR metrics you have measured in the past? Tell us your story in the comments.