HR Metrics That Matter
- Format: Self-paced
- Course Duration: 1 hr 16 mins
- SHRM Professional Development Credits: 1.25
- HRCI Business Recertification Credits: 1.25
- Certificate of Completion (after passing quiz)
Today, we are addicted to numbers! Our focus on metrics has grown tremendously in the last decade. Targets, Scorecards, Dashboards, KPIs. We all know the
buzzwords. In fact, many of us spend hours calculating and presenting what we think are key HR performance indicators. But have you asked yourself
the most important question of all?
“If I stop tracking my current metrics, will anyone notice?”
It’s possible you and your team are not only wasting time, but also hurting your credibility by sharing useless information!
The work you do matters. Your Human Resources department must be able to develop and use metrics directly linked to an organization’s goals like every function of the business. If you’re tired of measuring outcomes that no one cares about, learn how to identify KPIs (key performance indicators) that impact your organization’s balanced scorecard and keep your HR team on target.
Modules:
- Setting The Foundation
- The Process
- Business Example
- Conclusion
SHRM:
HR Jetpack is recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP or SHRM-SCP. This program is valid for 1.25 PDCs for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit shrmcertification.org.
HRCI:
This activity, has been approved for 1.25 HR (Business) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
The use of the HRCI seal confirms that this activity has met HR Certification Institute's® (HRCI®) criteria for recertification credit pre-approval.
Title: Business Case Example - Step #2 (KPIs)
Module: Business Example
Duration: 1:28
A new product design, development and launch will mean a new set of key performance indicators (or KPIs). What will be those success metrics attached to the organization’s goals?
Let’s look at a Balanced Scorecard.
The first quadrant is finance. The finance team has decided to focus on tracking increased revenue from new product sales.
The second quadrant is customer. The leadership team wants to dominate the widget market with this new product line. Tracking increased market share
will illustrate whether or not the company is meeting this goal.
The third quadrant is business processes. Widgets R Us is still focused on providing a high-quality product but must be careful in terms of costs and timing. Thus, the KPI for business processes is to improve operational efficiencies in production.
The last quadrant is learning and growth which probably speaks to all of us in HR. The business wants to measure improvements it makes in the use of technology and workforce skill set.
Remember, your organization’s scorecard may be much more detailed and intricate. I’ve kept this organization’s scorecard simple. It’s a great way to start learning how best to build the right metrics.
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Lessons Not Completed:
- Welcome & Course Objectives
- Myth: Metrics & Analytics are the Same
- Myth: Metrics will Remain the Same
- Myth: There's a Universal Set of HR Metrics
- Myth: The More Metrics, the Better
- Metrics & Analytics
- KPIs
- A Word of Caution
- Balanced Scorecard
- A Note on Dashboards
- Summary
- Introduction
- Know the Business
- Understand Goals & KPIs
- Set HR Goals & Select a Metric
- Pass the Relevancy Test
- Communicate
- Summary - Dos & Don’ts
- Business Case Example - Step #1
- Business Case Example - Step #2 (Goals)
- Business Case Example - Step #2 (KPIs)
- Business Case Example - Step #3
- Business Case Example - Steps #4 & #5
- HR's Opportunity
- Populating an HR Scorecard Template
- A Note on Collaboration
- Course Wrap-up
Instructor: Christina A. Danforth
Christina A. Danforth, SHRM-SCP & SPHR, launched HR Jetpack in 2016 to support the development and professional growth of her fellow HR colleagues. She started her HR career in 2002. After obtaining her Master’s in Business Administration degree, Christina joined United Technologies Corporation. She moved across the United States...