List two HR metrics that you picked for the company to examine that align with its goals and address how they should be reported (e.g., to whom, how often, and why.).?? Explain the im
Post by Day 3 a cohesive and scholarly response, based on and supported by your required readings, media, and research this week, that addresses the following:
- In a few sentences, recap the organization that you picked and briefly state its goals.
- List two HR metrics that you picked for the company to examine that align with its goals and address how they should be reported (e.g., to whom, how often, and why.).
- Explain the impact the two chosen metrics can have on the company and discuss any potential challenges the company should be aware of in putting the metric in place.
- List two additional HR metrics that you considered and discarded as not a good pick for the company. Explain why.
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Human Resource Management
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Metrics HR professionals can use to support organizational goals
Human resources metrics are crucial figures that usually help organizations and businesses in tracking their human capital and determining how effective their human resources initiatives are. The three metrics of human resources professionals can use to support organizational goals include engagement and retention, training and development, and recruitment (Kassick, 2019). The data obtained from these human resources metrics can give an organization the insights it requires to grow and succeed in its operations and processes.
How the metrics can offer strategic value to the organization
The three metrics, engagement and retention, training and development, and recruitment, can provide strategic value to the organization in different ways. For instance, recruitment will help the organization to determine various things like the time to hire, time to productivity, cost per hire, and the demographics of the workforce. Understanding an organization's demographics can help identify the workforce's characteristics, such as education level, gender, age, and length of service. Engagement and retention would provide strategic value by helping in determining the satisfaction of employees, the retention rate, and the turnover rate (Durai et al., 2019). Employee satisfaction is one of the important elements in an organization because it can recommend a company as a good place to work. The training and development metric can offer strategic value by evaluating various things such as training effectiveness, time to completion, training completion rate, and the training expenses for each employee.
Ways of leveraging human capital analytics to support organizational change
Some of the ways human resources professionals can leverage human capital analytics to support organizational change include avoiding compromising on the quality of data, embracing measurement, working across the organization, and recognizing that human capital analytics offer limited value (Bose, 2019). Other ways of leveraging human capital analytics comprise understanding the role that human capital analytics play in organizational change and determining the workforce-driven components of organization-driven metrics.
References
Bose, I. (2019). Metrics of Organizational Practices in Human Resource Management: Selected perspectives from HR analytics. RIMS Journal of Management, 4(1), 26-35.
Durai D., S., Rudhramoorthy, K., & Sarkar, S. (2019). HR metrics and workforce analytics: it is a journey, not a destination. Human Resource Management International Digest, 27(1), 4–6.
Kassick, D. (2019). Workforce analytics and human resource metrics: Algorithmically managed workers, tracking and surveillance technologies, and wearable biological measuring devices. Psychosociological Issues in Human Resource Management, 7(2), 55-60.
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