KPIs for Human Resource Manager
HR key performance indicators are an important tool that can be used in any organization. They are used to track and measure your different business operations to make certain that they are performing properly. They can also be used to put metrics in place to help measure the different goals in your organization.
As a human resource manager key performance indicators can assist in making your job easier. You can use key performance indicators to track the efficiency of your hiring strategy, the performance of your employees etc. When all the data is now collected you can analyze and evaluate them.
This will help you to see if they are aligned with your company’s goals.
Below you can see a list of KPIs for Human Resource Manager you can measure as a human resource manager
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• Decrease the time to fill rate by 5% in 6 months
• Reduce the cost per hire cost by 10% in 3 years
• Increase the healthcare expense for our employees by 4% in 18 months in order to provide a better healthcare plan
• Increase the salary for top performing employees by 10% in 6 months
• Increase our employee retention rate by 5% in 4 years
• Increase our employee satisfaction rate that we’ve collected through our surveys by at least 8% in 15 months
• In the next 18 months re-train 40% of our workforce in order for them to gain the skills necessary to adapt to a new business environment
• Reduce our employees absenteeism rate by 10% in 12 months
• Increase the human resource budget spent on training by 5% in 6 months
• Increase the employee engagement rate in our organization in 8 months
• Over the course of 90 days measure the performance of our recent new hire to see how well he/she have performed
• Increase the hiring process satisfaction rate by 10% from the employee’s perspective
• Increase the rate of diversity within our organization by 4% in 3 years
• Reduce the rate of the time it takes to train new employees in 6 months
• Increase our internal referral rate by 5% in 18 months
These are just some of the Key performance indicators a human resource manager can use in their organization to help measure certain operations and goals to make certain everything is working in order. When creating key performance indicators in your organization make certain that your metrics are attainable.
Time and time again you have managers that just tend to set unrealistic goals. Nothing is wrong with that but on average the success rate is really on low average. When those targets are not achieved they play the blame game or lose confidence.
This could’ve easily been avoided if they did properly analyzed their business situation and set reachable goals.
Also ensure that your goals can be easily measured, this will take out a lot of hassle later on when you are tracking the performance of a certain metric.
It will also allow it to be easily communicated and understood by your business peers. In retrospect key performance indicators can help you spot a lot of areas of inefficiencies within your business. That would’ve otherwise gone unnoticed.
As a human resource manager when you implement key performance indicators in your company. It will make your already difficult job easier.