Here is a list of example KPIs in HR to put on your dashboard:
The absenteeism rate in the company is usually measured by dividing the number of working days in which the worker was absent by their total number of working days.
The total cost of absence is gauged by including worker pay, the cost of supervising absence, and replacement cost. These KPIs are especially relevant for Asian countries with strong labour unions and a high degree of workforce protection.
Satisfaction with worker benefits is usually calculated through an employee engagement survey. These can be very helpful in dropping employee turnover.
Employee yield rate:
Although this measuring tool is hard to estimate, it says something about the capability of growth in terms of the production of human capital. It often relates to swiftness or could reflect accurateness.
Employee fulfilment index:
Employee satisfaction is calculated via employee mindset and engagement surveys. Dissatisfaction is a common root of employee turnover.
Employee commitment index:
Employee engagement is also calculated through attitude or engagement surveys. High workforce engagement predicts higher productivity, better client service, lower turnover, and many other pertinent and constructive outcomes.
Worker innovation directory:
Innovation is also measured through attitude or commitment surveys. Innovation is more and more often an important driver of business triumph. It’s the role of HR to facilitate this improvement.
Internal promotion rate:
These key performance indicators are measured by dividing the number of senior functions that were filled through internal promotion by the total number of senior positions filled. Internal hires are often up to speed faster, reduce the risk of a bad hire, and stay longer in the role.
Net Promoter keep count:
A Net Promoter Score is an exceptional way of measuring to what degree someone would advise a service or business to another person. To find out how fulfilled employees are with HR’s services, you can gauge the net promoter score of HR. Using the net promoter score, you can also measure to what degree people recommend working for the organization. Depending on your strategic goals, the net promoter score can be a solid KPIs for HR department.
Percentage of cost of the Human capital:
This is a metric that takes the price tag of the human capital and divides it by the sum cost faced by the company. These key performance indicators, although not often in employment, could be used for cost cutback purposes or to help perk up automation/robotization in an organization.
Worth of hire:
The quality of hire is the proportion of new hires that are given a good rating by their top management during their performance review. Quality of hire reflects how effective HR is in recruiting and selecting applicants. Time after time, maintaining a high quality of hire rating enables the company to reach its strategic goals.
Turnover is a very ordinary metric and also an important aspect of key performance indicators, as high turnover can be very costly.
Unintentional turnover rate:
Not all turnovers are intentional. This is the number of recruiter-led resignations as a proportion of the total resignations.
Unpaid turnover rate:
This is the amount of employee-led resignations as a fraction of the total resignations.
Unnecessary turnover rate:
Not all turnovers are terrible. It is usually helpful when bad performers leave. This is the number of excellent performers leaving as a proportion of all performers.
Training has to be helpful to attain its goal and objectives.
Three Months’ quit rate:
Or the 360-day give up rate. This is the number of hires that depart within three months or a year. A double-digit proportion is already very bad. It’s HR’s work to recruit the right people. Failing to do so will have serious repercussions and a harmful impact on organizational success. This is key staffing of KPIs in HR.