Human Resource Departments have traditionally been concerned with the processing of transactions and administrative functions – often with little or no objective data to provide them feedback on:The effectiveness of their HR processesor the contribution that these processes are making to the organization’s business strategyHowever, many senior corporate executives are no longer satisfied with this scenario. They want HR to prove its value and effectiveness through objective data.At the end of this workshop, participants will be able to:Use HR Metrics to ‘paint a picture’ and use the ‘language of business’Know how to gauge whether they are satisfying the needs of their internal customersMake continuous, meaningful improvements to HR processesMake greater contributions to their business’ strategic and operational plansDevelop their personalized HR scorecardDiscuss ways of strategically implementing their HR dashboardSee and select from many potential HR MetricsShow that they are not afraid of measuring their contributionAreas Covered I. The Benefits of HR Metrics to HR Departments and OrganizationsReasons for Utilizing HR MetricsWhat HR Metrics ProduceII. Identifying What to MeasureBenefits and Limitations of Measurement Key Question: How to Best Measure an HR Process and Whether the Result Will Be Worth the Cost of MeasuringWhat are Your Customers’ Most Important Expectations?What HR Processes Impact/Influence These Expectations?How Can the Performance or Results of These HR Processes Be Measured?Five Categories of HR MetricsFour-Step Process for Implementing HR MetricsIII. Recruiting, Interviewing & Selection Metrics Cost: Per-Hire FormulaCost: Per-Interview Formula Time-to-Fill FormulaOffers Resulting in a Hire FormulaQuality of Hire Formula Other Frequently Utilized Recruiting Process MeasuresHuman Reactions to the Recruiting Process IV. Compensation & Benefits Metrics Four Key Objectives of a Compensation SystemEmployee Compensation Cost FormulaCompensation & Benefits Costs as a Percentage of Operating Costs FormulaProfit Factor per Employee FormulaRevenue Factor per Employee FormulaOther Frequently Utilized Compensation MetricsOther Frequently Utilized Benefit MetricsHuman Reactions to a Compensation PlanV. Training & Development Metrics Training and Development’s Biggest ChallengesDeveloping a Training Objective for Your OrganizationFour Levels of Training Evaluation Training Cost FormulaTraining Cost Per Hour FormulaKnowledge Change Formula Skill Change Formula Performance Change FormulaOther Frequently Utilized Training and Development MetricsHuman Reactions to Training & DevelopmentVI. Retention Metrics FormulasAverage Length of Service FormulaCost of Turnover FormulaQuantity of Turnover FormulaThe Quantity of Voluntary Turnover FormulaVoluntary Separation Rate by Tenure FormulaReplacement Factor Formula Quality of Performer Retention FormulaOther Frequently Utilized Retention MetricsHuman Reactions to Employee Retention & TurnoverVII. Measuring Other HR ProcessesMetrics for Other HR ProcessesVIII. Strategically Implementing Your HR DashboardCreating Your HR DashboardFour Key Summary QuestionsTaking the Next StepsWho Should Attend HR Professionals New to the Field & Experienced HR Professionals Looking for New Ideas and/or a RefresherWhy Should You Attend HR professionals leading many of the best-managed HR departments across the U.S. rely heavily on HR Metrics to guide and improve their departments' performance. They recognize that metrics offer significant benefits to both their departments and organizations.These HR professionals recognize that:Metrics is the ‘language of business’. Senior leaders are seeking objectivity. They don't speak in generalities or make key decisions based on opinions. Metrics communicate by painting an unbiased, objective, and believable pictureThey are in the service business, and their HR function can be seen as only an overhead expense until others see value in the function. They appreciate the fact that the results that they don't objectively report often don’t countThey need metrics to compare themselves to other organizations' standards and ‘best practices’. Those metrics provide early warning signals and identify performance gaps. And that it is difficult to control & improve upon any HR process that is not measured.Metrics provide a means of increasing visibility, clarifying performance expectations, and setting goals. That just measuring an HR process conveys its importance and tends to improve the performance of the process.Since the leaders of the other functions within their organizations - manufacturing, sales, accounting, customer service, etc. - measure and report their contributions and performance, they, as HR professionals, should as well.