When it comes to understanding the effectiveness of your HR team, it's important to track key performance indicators (KPIs) that provide value to an organization. But which ones should you track? If you want to make your boss laugh, here are the top 5 HR KPIs to track:
Number of memes shared on Microsoft Teams: This is a great way to measure employee engagement and morale. If your employees are sharing memes, it means they're happy and productive.
Percentage of time spent on social media: This is a great way to measure employee productivity. If your employees are spending too much time on social media, it means they're not getting their work done.
Number of coffee breaks taken: This is a great way to measure employee stress levels. If your employees are taking a lot of coffee breaks, it means they're feeling stressed and overworked.
Number of sick days taken: This is a great way to measure employee health. If your employees are taking a lot of sick days, it means they're not healthy and may be contagious.
Number of times the CEO has been asked to dance: This is a great way to measure employee morale. If your employees are constantly asking the CEO to dance, it means they're happy and have a good relationship with their boss.
Of course, these are just a few of the many made up HR KPIs that came to my mind you can track. Sure, the ones above will make your boss rolling out of their chair laughing, but the most important thing is to track KPIs that are most important to your organization.
KPIs are like a compass. They help you stay on track and make sure you're headed in the right direction. If you don't have KPIs, you're just wandering around in the dark.
The following are some of the truly most important KPIs HR professionals should track to gain value for their organization.
Employee Retention Rate: Employee retention rate is one of the most important KPIs for HR professionals to track. This KPI measures the percentage of employees who stay with the organization for a certain period of time. Tracking this KPI provides insight into the organization's ability to keep employees engaged and motivated to stay. Additionally, it highlights any potential issues that may be causing employees to leave, such as salary, lack of development opportunities, or lack of job satisfaction. Consider tracking retention by department, location, position, manager, and tenure.
Employee Engagement: This KPI measures the level of employee enthusiasm and commitment to their work. By tracking this KPI, HR professionals can identify areas where employees are feeling disengaged and make changes to increase engagement. Additionally, tracking this KPI can help HR professionals measure the impact of any initiatives they have implemented to boost employee engagement. Capture this KPI within your new hire experience survey, 30-, 60-, & 90-day onboarding surveys, pulse surveys, annual engagement surveys.
Employee Productivity: This metric measures the amount of work that employees are able to produce in a given amount of time. A low level of productivity can be a sign of problems with employee training, motivation, or work environment.
Candidate Experience: In today's competitive job market, it's more important than ever to provide a positive candidate experience. A great candidate experience can help you attract top talent, improve your employer brand, and boost your bottom line.
Hiring Manager Experience: The hiring manager experience is just as important as the candidate experience. Hiring managers are responsible for making the final decision on who to hire, so they need to be engaged and happy with the process. If hiring managers are frustrated with the hiring process, it's likely that candidates will be too.
Recap: Of course, these are just a few of the many HR KPIs that you can track. The best KPIs for your organization will depend on your organization's specific goals and objectives. But if you can track these 5 KPIs, you'll be well on your way to making a difference for your organization while demonstrating how HR helps support your organization's goals and objectives.
Here are some additional tips for tracking HR KPIs:
Choose the right KPIs: Not all KPIs are created equal. It's important to choose KPIs that are aligned with your organization's strategic goals.
Collect data regularly: In order to track KPIs effectively, you need to collect data on a regular basis. This will help you identify trends and patterns over time.
Analyze data regularly: Once you have collected data, it's important to analyze it regularly. This will help you identify areas where you are doing well and areas where you need to improve.
Take action: The goal of tracking KPIs is to improve your HR initiatives and programs. Once you have identified areas where you need to improve, take action to make those improvements.
Now get out there and start tracking!