To really understand the health and performance of your human resources function, I have created a list of the most important HR metrics that will provide a clear picture of how the department is performing.
- Cost of Hire
- Ratio Compensation/Benefits to Revenue/Profit (compare each year to industry averages)
- Employee turnover rate of new hires within their first 24 months
- Percentage of new hires that rate training and educational opportunities among the top 3 reasons they accepted and still love their job – compared with the % who rate training and educational opportunities as excellent 12 months into the job
- Quarterly turnover % of high performing employees
- Turnover % of low performing employees within one year of receiving low rating
- Percentage of employees with superior performance ratings against salary levels
- Monthly turnover rate
- Revenue per employee: total revenue/total number of employees
- Percentage of women promotions to top level positions
- Promotions Rate: Promotions/Headcount
- Number of raises
- *Compensation Analysis to ensure competitive market salary is offered
Notable 