Capturing data within the human resources (HR) management function offers insight about employees and managers that can help leaders improve performance and team engagement.
For example, recent research by John Sullivan, Ph.D. shows that:
- New hires are more likely to quit on their one-year anniversary than any other time.
- Sales people are five times more likely to quit in December than any other month.
- Only 12 percent of CEOs are confident in their human capital metrics.
The finance, sales and operations functions are well-known for capturing data and producing metrics to analyze performance. Unfortunately that’s not always the case with HR. If you happen to be in this boat, it’s not difficult to get started with data.
So what HR metrics are important to evaluate?
1. Employee Performance Expectations
2. Cultural Health
- If you’ve done a good job defining business goals, you should be able to develop employee performance expectations that align with your business goals.
- Comparing actual performance among the same positions, business functions, managers and geography will provide insight that leaders can act on.
3. Workplace Satisfaction
- Culture health is often the most ignored aspect of evaluating a company’s performance because metrics are not put in place to measure. However, with our Performance Culture Performance Management Platform you can easily accomplish this.
- If you’ve defined your company’s core values and required workplace behaviors to be successful, you can use these values and behaviors as part of your performance management and coaching process. Performance Culture enables you to transform the measurement of cultural health from a very subjective process to an objective management evaluation.
- We all want team members who are very satisfied at work. Asking employees about their satisfaction on a quarterly basis will help leaders keep a pulse on their team. Circumstances can change quickly, so if you only check on satisfaction once a year, you could be asking the question too late.
Capturing this type of data within your company will add value over time since you will be able to spot trends that will help you hire better and improve your team’s synergy. Remember: What gets measured gets done and what gets rewarded gets repeated.
The Cornerstone Business Advisors team includes former C-Level executives, successful entrepreneurs and advisors who offer unmatched experience in delivering advanced, custom-tailored, results-oriented solutions for business leaders. Cornerstone has worked with hundreds of companies that range from fast-growth start-ups to Fortune 500 corporations. It developed the Performance Culture System™ to help clients implement best practices and drive high performance throughout their organization. For more information, visit www.PerformanceCulture.com or email [email protected].