Here is a list of HR KPIs to consider including on your dashboard:
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Rate of non-attendance:
The absenteeism rate in the workplace is often calculated by dividing the number of working days missed by the total number of working days.
Cost of nonattendance:
These KPIs are particularly important for Asian countries with strong labor unions and a high level of workforce protection.
Advantages of contentment:
Employee satisfaction with benefits is typically measured via an employee engagement survey. These can be quite beneficial in reducing staff turnover.
Although this metric is difficult to assess, it reveals something about the capacity for growth in terms of human capital output. It frequently refers to quickness or could indicate accuracy.
Employee satisfaction index:
Employee happiness is measured by surveys of employee mindset and engagement. Amployee turnover is frequently caused by dissatisfaction.
Index of employee commitment:
High staff involvement predicts higher productivity, better customer service, lower attrition, and a variety of other relevant and beneficial consequences.
Directory of Employee Innovators:
Innovation is becoming an increasingly crucial driver of business success. It is HR’s responsibility to facilitate this improvement.
Rate of internal promotion:
Internal recruits typically get up to speed faster, lower the risk of a disastrous hire, and stay in the role longer.
Net Promoter Score (NPS) tally:
A Net Promoter Score is an excellent means of determining how likely someone is to recommend a service or business to another person. You can also use the net promoter score to determine how strongly individuals endorse working for the organization. Depending on your business objectives, the net promoter score might be a valuable KPI for the HR department.
Human capital cost as a percentage of total cost:
This is a statistic that divides the cost of human capital by the total cost incurred by the organization.
Maintaining a high quality of hiring rating allows the organization to achieve its strategic goals time and again.
Turnover is a common statistic that is also an important component of key performance indicators, as high turnover can be costly.
Rate of unintentional turnover:
Not all turnovers are deliberate. This is the number of resignations caused by recruiters as a percentage of all resignations.
Rate of unpaid turnover:
This is the number of employee-led resignations as a percentage of overall resignations.
Unneeded turnover rate:
Not all turnovers are bad. When poor performers depart, it is usually beneficial. This is the number of exceptional performers who have left as a percentage of all performers.
Training must be beneficial in order to achieve its goals and objectives.
Three-month dropout rate:
Or the 360-day abandonment rate. This is the percentage of new hires who leave within three months or a year. A double-digit proportion is already quite poor. It is HR’s responsibility to find the right individuals. Failure to do so will have major consequences and will impair organizational success. This is the critical staffing of HR KPIs.