HR Metrics: A Benchmarking Towards Excellency
Hussain, S A
Murthy, Dr. O Narayana
- Publisher: Journal Of Business Management & Social Sciences Research
Journal Of Business Management & Social Sciences Research
(issn: 2319-5614, eissn: 2319-5614)
Business Management; HUman Resources Management | : HR Metrics and its significance, Objectives & Strategies, Global Human Resource Metrics, Human Resource Information System (HRIS)
Globalization and changing business dynamics presently increasing challenges to HR and line management on how best to develop and deploy an agile and highly-competency workforce while maintaining cost efficiency. HR metrics are a vital way to quantify the cost of HR and the impact of employee programs and HR processes And measure the success (or failure) of HR initiatives. They enable a company to track year-to-year trends and changes in these critical variables. It is how organizations measure the value of the time and money spent on HR activities in their organizations. Metrics provide a number of factors that can be measured to show how HR contributes to the business. Some important Measures such as absence rate, health cost per employee, and HR expense factors show that HR has a sense of the importance of human capital measurement in supporting our business objectives. The following calculators are basic HR and business metrics to help measure your companys absence rate, cost per hire, the value of your human capital and human capital return on investment.