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: KPIs
Module: Setting The Foundation
Duration: 2:16
Key Performance Indicators (or KPIs) often get confused with metrics and analytics. The word “key” is the primary differentiator. Not all metrics are created
and treated equally. Key Performance Indicators are a TYPE of metric. They are meant to show how well a business objective is actually doing. They
are critical. Think vital signs for your business. It drives me crazy to hear people use these terms interchangeably.
A metric is not necessarily a KPI but a KPI IS a metric, it’s just a more important one. Let’s take this a step further. A performance indicator could
also be either “leading” or “lagging”.
A leading indicator or metric tries to help an organization predict a result or future outcome. It is meant to “lead” or “drive” the team forward and identify
a future event. For example, in business, customer satisfaction may indicate future growth in sales. A high employee engagement survey score may indicate
a better employee retention rate. The opposite of “leading” is “lagging”.
A lagging indicator shows a result after-the-fact. They are usually easy to measure but they offer us “delayed” information, something historical in nature
that we can’t impact or change. For example, a common business lagging indicator is a 2nd quarter revenue review while a common HR lagging indicator
is the workforce absenteeism rate. There are quite a few resources available that make the case for organizations to move away from lagging indicators
and utilize leading indicators.
However, both are really necessary to understand the true state of the business. Together they provide valuable information for making the right decisions.
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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...