The HR Metrics Toolbox: Determining the RIGHT Metrics for Your Business Needs

The HR Metrics Toolbox
Determining the RIGHT Metrics for Your
Business Needs

Personal Introduction
Joey V. Price is an entrepreneur,
philanthropist, and Human Resource
extraordinaire with incredible
experience, expertise, and
unprecedented passion for the field.

As CEO and Chief HR Consultant of
Jumpstart:HR, a Managed HR
Services Firm, Joey oversees the
operations of the organization providing
trusted Human Resources supports and
expertise to small and medium sized
business across the United States.

Jumpstart:HR | "Get more HR while doing less." | www.jumpstart-hr.com | #HRmetrics | @JVPsaid - On Twitter

Business Introduction
Jumpstart:HR is your trusted Managed HR Services partner.
We work with your organization as a virtual and on-site service
provider to solve your HR challenges, alleviate your burdens
and free up your time.
OUR MISSION:
To become a pioneer and trusted Managed HR Services partner
for small to medium sized businesses in the US. We strive to
provide up-to-date and creative Human Resources knowledge
and implementation strategies marked with high quality
personable customer service and career development tools that
inspire growth. Jumpstart:HR works to make an immediate
impact in as little as one month’s worth of support.


Housekeeping Rules
This Workshop Session Includes the Following:

Lecture
Feedback and Engagement
Video
Peer to Peer Discussion
Q&A

“It is not that I'm so smart. But I stay with the questions much
longer.”
― Albert Einstein


HR Metrics
• Effective metrics are the key to achieving tangible results;
with a multitude of potential metrics to measure it’s easy to
get lost in the data.
• Aligning your metrics to showcase results applicable to your
organization’s business goals is crucial.
• This workshop will take you through the various
measurement options you have available as an HR
professional, show you the benefits and drawbacks of each
and guide you through determining what best suits your
organization and budgetary needs.


What You Will Learn:
How to determine which metrics is the best for your organization

How to prioritize your metrics to those pertinent to your organization’s
business strategy

How to discover causations and correlations amongst metrics

Understand the tools used throughout the industry

Map out the specific tools needed that align with your organization’s
business goals

Build your own toolbox specific to your business needs


How You Will Benefit:
• Gain practical experience in utilizing only the most imperative
metrics that are linked to a company’s success
• Turn your organization’s weaknesses into strengths by
obtaining a deeper understanding of the metrics that fit your
company
• Save time and money by only utilizing the metrics that are
critical to your business’ success


TRUTH:
THE DATA YOU NEED TO
MEASURE IS ALREADY THERE.
YOU JUST HAVE TO PAY ATTENTION.

The Data is Already There


TRUTH:
THE ROLE OF HR IS CHANGING AND EFFECTIVE
INFORMATION ANALYTICS WILL POSITION
LEADERS TO SUCCEED.

HR From The Outside In


TRUTH:
WE ARE ALREADY WELL-VERSED ON THE
CAUSE/CORRELATION EFFECT OF DATA,
METRICS AND OUTCOMES.

Comparison of Health Metrics
Knowledge is power but knowledge does not equal results.

Blood Body
Heart Beat Weight
Pressure Temperature

Reinforce:

Knowledge Action Results


Comparison of Car Metrics
Measure What You Need,
But Understand As Much As Possible

GPS/Miles &
What does this
Fuel Remaining Air Pressure time left until
light mean?
destination
• (Knowing when you
don’t know what is
going on but you
see a warning sign)

Reinforce:
Knowing what you don’t know is helpful.


Lagging Indicators & Leading Indicators
• Leading Indicators: “Process Measures” – Gauge incremental
progress towards your key HR outcomes. Leading =
Performance
• Lagging Indicators: “Outcome measures” – Gauge your HR
progress by examining the final end result or outcomes of
your efforts. Lag = delay


Practical Examples:
SCENARIOS
• Recruitment and Workforce Planning
• Compensation and Retention
• Training and Productivity
• Diversity Initiatives
• Government Compliance and Reporting
• PPACA and Benefit Costs


Key Metrics to Use


What belongs in your toolbox?
Business Management & Strategy
 Strategic Role Of HR In Organizations
 HR Business Management Skills
 Strategic Planning Process
 Evaluating The Internal/External Environment
 HR & The Legislative & Regulatory Environment


Workforce Planning & Employment
 Employee Rights, Privacy & Consumer Protection
Legislation
 Organizational Staffing Requirements
 Job Analysis & Documentation
 Recruitment, Flexible Staffing, Selection & Retention


Human Resource Development
 Organizational Development Initiatives
 Adult Learning & Motivation; Training & Development
 Talent And Performance Management


Compensation & Benefits
 Compensation Structure & Systems
 Benefit Programs
 Compensation & Benefits Legislation


Case Study by Branch of HR (PHR/SPHR):
Employee & Labor Relations
 Employee & Labor Relations Legislation
 Union Organizing & Collective Bargaining
 Unfair Labor Practices
 Discipline & Complaint Resolution


Case Study by Branch of HR (PHR/SPHR):
Risk Management
 Organizational Risk
 Workplace Safety, Health, Security And Privacy
 Risk Management Legislation


How To Prioritize Your Metrics
Prioritize Metrics In The Following Order:
What Isn't Working (And What Needs
To Be Fixed Right Away)

What Measurements
Help Ensure Business
Strategy Is On
Track/Where are
opportunities for
growth?

Everything Else


Lean Industry Metric Tools
• MS Excel Spreadsheets
• SHRM Metric Calculators
– (http://www.shrm.org/Te
mplatesTools/Samples/
Metr...)
• Eyes & Ears
– (Management by
wandering around)
– This is the best for "real-
time" measurement


HR Metric “Cool Tools”
• HRIS/HRMS Data
Analytics
– Kenexa
– Oracle PeopleSoft
– Oracle Taleo
– ADP WorkForceNow
– iCIMS
• SuccessFactors
• Cfactor
• Social Tools
– CrowdBooster
– Bottlenose
– Recruiting Cool Tools


Personality Tests
• StrengthFinders
• Work Personality Index
• Myers-Briggs
• Others


Map Out The Specific Tools:
How To Select
Tools: Learning
Cost
Curve

Ease of
Outsource
Use


Build your own toolbox:
• Start With Two Questions:
– What do we need to measure and why do we need to
measure it?
• Refer to the worksheet provided for metric formulas and
consider your current technology
• Assign responsibilities within your HR department (or
what you will outsource)
• Measure, Manage, Measure (Keep a frequent cycle of
measuring data, interpreting results and adjusting as
necessary)


Key Take-Aways:

Knowledge [of
metric formulas
Just because you and data] is
Measure only
don’t see it, power, but
what you need,
doesn’t mean that accurate
but understand as
the data isn’t interpretation and
much as possible.
there. execution of the
findings are what
lead to to results.


Questions & Answers


Contact Information
• Email: jprice@jumpstart-hr.com
• Phone: 301-244-8577
• LinkedIn: http://www.linkedin.com/in/joeyvprice
• Twitter: @JVPSaid


The HR Metrics Toolbox: Determining the RIGHT Metrics for Your Business Needs

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The HR Metrics Toolbox: Determining the RIGHT Metrics for Your Business Needs