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: Myth: Metrics & Analytics are the Same
Module: Setting The Foundation
Duration: 2:36
Before going any further into this topic, let’s clarify a few myths vs. realities.
Myth number 1. Metrics and analytics are the same thing. I’ve seen and heard these two terms used interchangeably. And it’s wrong. Do not confuse the
word “metrics” with the word “analytics”. To be clear, it’s close. The two are very much related but NOT the same thing. Here’s the reality.
Essentially, metrics are the foundation for calculating and developing analytics. Metrics are a part of analytics.
Metrics are measurements. HR and other business functions may use a dashboard or a scorecard. A scorecard illustrates the most important measurements
for the department’s goals and activities. HR metrics can include turnover rate, time to fill, number of trained employees, number of job openings
filled, etc.
Metrics are descriptive of what happened in the past and what’s happening here and now. We monitor metrics and through HR analytic techniques we take
the data a step further. We want to pull insights from that data for making better decisions. Now, to make matters more confusing…
There is also “descriptive analytics”. (I talk about this in my course, titled “HR Analytics”.)
Descriptive analytics answers the question “What happened?”. So…descriptive analytics are essentially metrics. They examine past and present
data and can be represented visually with bar graphs, tables and pie charts.
Most functions such as sales, marketing, operations, finance and, of course, HR use this type of information to illustrate their level of efficiency
and effectiveness. In fact, the majority of the metrics we use fall into this category. The data is usually a count, sum, percentage or average.
Have you ever accessed your company’s quarterly or annual reports? It is full of descriptive analytics. We’re going to come back to this in a bit.
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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...