Raising productivity May 2012

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  • 1. Raising productivityby Toronto Training and HR May 2012
  • 2. 3-4 Introduction to Toronto Training and HRContents 5-6 7-8 Definition Benefits of raising productivity 9-11 Calculating productivity 12-13 How to minimize distractions 14-15 Techniques to increase productivity 16-18 Economic growth 19-20 Labour productivity 21-22 Impact of a smooth career transition 23-26 Automating HR 27-42 HR measures 43-48 Points to consider with HR measures 49-50 Conclusion and questions Page 2
  • 3. Introduction Page 3
  • 4. Introduction to Toronto Training and HR• Toronto Training and HR is a specialist training and human resources consultancy headed by Timothy Holden• 10 years in banking• 10 years in training and human resources• Freelance practitioner since 2006• The core services provided by Toronto Training and HR are: - Training event design - Training event delivery - Reducing costs - Saving time - Improving employee engagement & morale - Services for job seekers Page 4
  • 5. Definition Page 5
  • 6. DefinitionProductivity Page 6
  • 7. Benefits of raising productivity Page 7
  • 8. Benefits of raising productivityIt leads to reduced attritionIt leads to less infightingIt leads to proper hiring Page 8
  • 9. Calculating productivity Page 9
  • 10. Calculating productivity 1 of 2Q = F (K,L,T)whereQ = OutputL =LabourK = CapitalT = Technological change (or productivity) Page 10
  • 11. Calculating productivity 2 of 2Growth in output is representedbyq=ak+bl+tt=q-ak-blwhereq = increase in l = Increase in output labourk = increase in t = increase in capital technologya, b = shares of capital and labour in output Page 11
  • 12. How to minimize distractions Page 12
  • 13. How to minimize distractionsStart with prioritizationSet a schedule for your workRemove distractions from your environmentPlan for time away from your deskDelegate and collaborate where you canDisconnect when you’re done Page 13
  • 14. Techniques to increase productivity Page 14
  • 15. Techniques to increase productivityConstant communicationCrucial confrontationFocus on feedbackCreate collaborationRemember to reward and recognize Page 15
  • 16. Economic growth Page 16
  • 17. Economic growth 1 of 2Increases in the factors of productionEfficiency gains Page 17
  • 18. Economic growth 2 of 2OutputEconomic growthGDP per capita Page 18
  • 19. Labour productivity Page 19
  • 20. Labour productivityCHANGESA change in capital intensityA change in labour qualityA change in multifactor productivityA cyclical change of the aggregate economicactivity Page 20
  • 21. Impact of a smooth career transition Page 21
  • 22. Impact of a smooth career transitionCost of recruitmentCost of trainingCost of compensation and benefitsCost of workplace integrationBreak-even point Page 22
  • 23. Automating HR Page 23
  • 24. Automating HR 1 of 3RECRUITMENT STATISTICSDon’t run reports in your applicant trackingsystem, do display them on a dashboardRESPONSE TIME AS A KPIDon’t browse through requisitions, do build a‘candidate alarm’VISBILITYDon’t use a Whiteboard, do create your Wallboard Page 24
  • 25. Automating HR 2 of 3ONBOARDINGDon’t send ad hoc emails, do trigger automatedemailsORGANIZATION CHARTS AND HEADCOUNTSDon’t update manually, do auto-sync with yourHRISSTAFF RECOGNITIONDon’t use a manual system, do keep the processonline and without restrictions Page 25
  • 26. Automating HR 3 of 3PERFORMANCE REVIEWSDon’t update your performance managementsystem, do make systems talk to each otherINDUCTIONDon’t use an online induction tool, do use a Wiki Page 26
  • 27. HR measures Page 27
  • 28. HR measures 1 of 15HR COSTHR cost per employeeHR cost v revenue Page 28
  • 29. HR measures 2 of 15HR RESPONSIVENESSAverage response time (ticket open with HR)Average resolution time (ticket open with HR) Page 29
  • 30. HR measures 3 of 15ISSUE MANAGEMENTHR complaints by categoryAverage complaint resolution timeLegal costsSettlement costs and penalties Page 30
  • 31. HR measures 4 of 15RECRUITMENTCost per hireHiring cycle timeHiring fill rateOffer acceptance rateInterview no-show rateAverage performance of new hiresVoluntary termination rate in first yearInvoluntary termination rate in first yearFirst year turnover cost rate Page 31
  • 32. HR measures 5 of 15RECRUITMENTManager satisfaction with new hiresManager satisfaction with recruitment processEmployees recruited from key competitors Page 32
  • 33. HR measures 6 of 15PRODUCTIVITYRevenue per employeeProfit per employeeProfit per people $Average days absentBusiness specific productivity metricsSalary increase v revenue increase Page 33
  • 34. HR measures 7 of 15PERFORMANCE MANAGEMENTAverage performance ratingProblem employee rateRehabilitation rate for problem employeesTermination rate for problem employeesAverage cost to terminate employee Page 34
  • 35. HR measures 8 of 15COSTSAverage salarySalary deviation (by job level)Cost of benefits as a percentage of salaryCost of benefits as a percentage of revenue Page 35
  • 36. HR measures 9 of 15KEY EMPLOYEES AND STAR PERFORMERSKey employee satisfaction rateKey employee retention rateKey employee cost rateKey employees eligible for retirementBench strengthKey employee turnover by reason code Page 36
  • 37. HR measures 10 of 15HR PIPELINEEmployee salary by levelNumber of employees by bandEmployee productivity by positionAttrition by level Page 37
  • 38. HR measures 11 of 15EMPLOYEE RETENTIONInvoluntary termination rateVoluntary termination rateAverage retention periodEmployees eligible for retirementEmployees eligible for early retirementAverage tenureVoluntary termination by reason code Page 38
  • 39. HR measures 12 of 15EMPLOYEE SATISFACTIONJob satisfactionJob empowermentCompensation satisfactionOpportunities for advancementTraining and development effectivenessNet promotion rateHR department satisfaction rateManagement effectivenessClarity of company vision Page 39
  • 40. HR measures 13 of 15EMPLOYEE SATISFACTIONEqual opportunitiesWork/life balanceEmployee commitment indexMarket opportunity indexEmployee complaintsEmployee lawsuits Page 40
  • 41. HR measures 14 of 15TRAINING AND DEVELOPMENTTraining cost per employeeTraining per employee Page 41
  • 42. HR measures 15 of 15DIVERSITY AND COMPLIANCEGenderDisabilities Page 42
  • 43. Points to consider with HR measures Page 43
  • 44. Points to consider with HR measures 1 of 5Don’t just start measuring the usual suspects, startwith your organizational strategy and work fromthereDon’t copy your neighbor’s HR metrics for thereason listed aboveDon’t use benchmarks for the sake ofbenchmarking because average does not equalbetter result Page 44
  • 45. Points to consider with HR measures 2 of 5Don’t just email metrics out and expect yourmanagers to understand them-make sure themetrics tell a compelling storyDon’t celebrate metrics that aren’t impactfulbecause no one cares how many days it takes youto fill requisitions on average or if you have 100%participation in the performance managementprocess, but they do care about what impactsrevenue, profit and costs-DIRECTLY Page 45
  • 46. Points to consider with HR measures 3 of 5Don’t use unreliable data or data that has notbeen verified-this will make you lose credibilitypoints fastDon’t go through a lesson in correlations andregressions as no one cares; instead just tell thestory on how the data analysis has uncoveredsomething that impacts the business Page 46
  • 47. Points to consider with HR measures 4 of 5Don’t measure for measuring sake as trackinghundreds of metrics is not smart nor does it movethe dial-determine what are those levers thatmove your organizational success factors andmeasure thoseDon’t use fancy technology when an Excelspreadsheet will do-start small and if you gettraction and buy in organizational wide then moveto a more robust solution Page 47
  • 48. Points to consider with HR measures 5 of 5Don’t depend on current employees to have theanalytical muscle to perform statistical testing-noteveryone feels comfortable with numbers…if youhave that talent within the organization great, butthat skill set is not one that is usually found in HRdepartments Page 48
  • 49. Conclusion and questions Page 49
  • 50. Conclusion and questionsSummaryVideosQuestions Page 50