How To Set HR KPI?
HR KPI are not only relevant to HR manager but also to the CEO as human capital is often the most valuable asset of a company. Human resources performance indicators will tell a lot about the state of HR management as well as the number of employees and similar HR analytics.
Such metrics require careful analysis of the managers’ requirements. What does absolutely need to be tracked and how is it going to help them do their job better. In other words the answer to how to measure HR KPI starts with the definition of the HR KPIs which are deemed relevant for a given business.
An HR KPI dashboard template can help greatly set up the basis for your HR performance tracking as it can provide you with indicators idea. Nonetheless there is no such thing as one master HR KPI scorecard as each company should measure their HR KPI metrics for its own particular situation. For example, HR KPI best practice for a company growing abroad might include statistics around employee transfers from one affiliate to the other. That does not make sense for an office with no international activities. In a similar vein, a call center will want to know precisely about the profile of its best callers or will keep an eye on the turnover rate. These RH KPIs are not necessarily relevant for other organizations.
So in short the HR KPI definition should be your own.
HR KPI List
How to write hr kpi? Let’s start with a list! As you build the list you need to think of your end user: is it for the recruiter, the training manager, is it a general staff report to your management? Research a couple of HR KPI dashboards samples online and keep in mind what sort of resource you’ll need to maintain these reports overtime.
HR Manager in charge of Payroll: Percentage of Cost of Workforce, Salary Competitiveness Ratio (SCR), Human Capital Value Added (HCVA), Health Care Expense per Current Employee…
HR Manager in charge of recruitment: Rate of Internal Job Hires, Rate of Internal Referral Hires, Performance of New Hires, Employee Productivity Rate…
HR Manager in charge of training: Cost per Hire, Effectiveness of Training, Percentage of Employees Trained…
HR KPI Template
Your HR performance indicators need to be in line with your overall HR strategy. Once the list of indicators that matter to your organization has been defined, it’s time to figure out where to get the data, how to shape it and how to best display it so that end users will make the most out of the HR report.
HR kpi excel templates can help but the diversity of HR KPI graphs is better in a business intelligence platform. Plus such platform will allow you to clean up your data, merge data from different sources and automate the whole process.
Accounting KPI report results into profit or loss for the balance sheet and helps measure and project the Cashflow.
Discover more about KPI metrics with our other guides :
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