HR Metrics In Human Resource Management

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Introduction For this assignment I have the task to research Human Resource Metrics and the role these measurements play in the effectiveness of a company’s human resources. HR metrics are indicators that supply HR with measurable data to track performance and ultimately allow HRM to predict future needs or behaviors. This information is crucial to helping organizations decrease time and save costs through efficiency. Throughout this assignment we will look at different metrics that supply HR with measurable data and how that data help to improve on the efficiency of HR processes. My research will be gathered from multiple websites that list the relevance of tracking performance and what that data means to Human Resources. The types of metrics…show more content…
Information I gathered from an article entitled “Human resources data analytics bring metrics to workforce management” stated that HR data analytics help companies add fact based reasoning to their hiring and termination process. Employees are strategic assets and have to be managed using measurable data to determine the most efficient outcome. HRM use data from analytics to align their workforce with the right competencies to meet business objectives. Companies want their systems to be factual and provide accurate information in benchmarking goals so that a clear path to efficiency can be created. Data collected in my opinion should be from those within the same industry when considering compensation data as those who seek jobs in specific industry usually apply at competing firms. If your competitors are offering benefits and a better compensation package then you will possibly lose out on great candidates. When it comes to public or private jobs I believe that all sectors should be acknowledged depending on if the positions align with jobs in both the public and the private sector but the bottom line is, I believe all about budget. Smaller companies may follow governmental metrics as they usually have limited budgets. For sake of our mid-sized company maybe a mixture of data from both would be efficient. Governments are usually operating on a smaller and stricter budget and require clearances and security. These agencies are not usually in a competitive market, but they transfer and share employees within their sector. Metrics should be aligned with other governmental agencies for the purpose of a consistent budget. As well Private sector jobs although they also have budgets they are in a competitive market which mean that funds can be shifted from one department to the next as a strategy to gain competitive
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