Implementing a solid employee retention strategy is critical for any company. Having the right mix of employees, especially since the world of work is transforming and the economic landscape keeps changing with it, helps keep your business afloat and growing. Let’s have a look at employee retention metrics that help improve employee retention at your…
Employee engagement is essential for business success. However, if you’re not tracking the ROI of employee engagement, it can be tough to justify the investment and focus your energy on the right initiatives. How do you measure the ROI of employee engagement? Let’s find out. ContentsWhy is employee engagement important?How to measure ROI on employee…
There are routine annual processes that organizations go through – strategic alignment, financial planning, employee satisfaction surveys, reporting, and many other vital processes – to keep the organization moving forward. However, the one that often gets neglected but is among the most important is succession planning. Tracking succession planning metrics helps you understand how you’re doing…
Hiring a new employee demands a significant investment of resources, including time and money. When you invest in this, the last thing you want is a new employee to quit after a few weeks or months and have to begin the hiring process all over again. So, how can you reduce new hire turnover in…
Organizations today are facing the question of how to accurately measure productivity, particularly as the world becomes more and more remote. Furthermore, the question of measuring productivity has moved beyond measuring a simple ‘output.’ It is nuanced, taking into account external and internal factors and the organization’s needs at a particular given point. Organizations and…
We’ve heard the quote ‘people are your most important asset’ for decades now in business, but what does it mean? It’s easy to understand that people are the ones that deliver on the organization’s value proposition and vision; however, is there a way to quantify this? Enter employee lifetime value (ELTV) which aims to quantify…
Voluntary turnover is a normal occurrence, as employees seek new opportunities or leave because they are unsatisfied with the current role for a multitude of reasons. However, it is still an expensive activity. Consider relocation costs, advertising of a new role, the costs of having a vacant role, the recruiting costs, onboarding, training of the…
How much does it really cost to hire a new employee? Cost per hire is one of the most used HR metrics and recruiting KPIs. Understanding cost per hire enables you to make more strategic decisions when investing in your recruitment efforts. In other words, it helps in decision-making around the costs involved in the hiring…
In this article, we will look beyond the scope of traditional HR KPIs. We will show that financial KPIs are not the end-goal – rather HR should step up its game and report on the leading indicators of organizational effectiveness. We will end the article with a list of recommended KPIs to focus on. Are…
