Human Resource Efficiency
The application of human resources metrics is a very important step for companies for many different reasons. Organizations should have goals set in place for what HR metrics should achieve and should also expect their team to fulfill them. These goals will help the business be both efficient and effective in relations to hiring and training new and existing employees. HR metrics should also make an impact that is felt throughout the company. These three goals should be used to ensure the organization that the application of HR metrics is being used properly.
Efficiency of HR metrics deals with the administrative aspect of HR metrics (Lawler & Levenson, 2004). This information should be able to reflect how quickly the human resources department responds to a need in the company. An example of this could be found in how long it takes to fill an open position. Another measuring stick could be found in how long it takes to fill open vacancies. These are both measurable pieces of data that the company can track to determine how efficient the human resources department is. It would also be wise to track the cost of hiring a new team member. This information can help determine what the turnover goal should be. It would also provide investigation to see if there was a way to cut costs. All of these pieces of data should be tracked and compared to other companies within the same market. This would give a clear answer to how efficient human resources is and how they compare to other like-companies
Another application of human resources metrics can be found in effectiveness. This would be used to show how effective HR metrics and policies are in the workplace for current employees and applicants currently in the cue (Lawler & Levenson, 2004). A major application that can be found in HR metrics effectiveness is training. It is vital to build necessary skills by using on-the-job training. This is an effective way to equip your current employees with the skills required for them to succeed. It should also be a priority to give employees motivation,