This presentation discusses the top five workforce metrics that you should look at to measure your organization’s effectiveness and overall success. We explore how to measure different aspects of workforce management, including recruiting, retention, employee engagement, performance, and operational efficiency.
Your Year in Review: Top 5 Workforce Metrics to Measure Success
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YOUR YEAR IN REVIEW:
TOP 5 WORKFORCE METRICS
FOR MEASURING SUCCESS
2. As President & CEO at DATIS, Erik's focus is
on delivering value, productivity, and
efficiencies for Health and Human
Services organizations through a fully unified
HR and Payroll platform. With over 25 years
of experience in Finance and Technology,
Erik combines this knowledge to help
organizations better manage their workforce
and achieve their mission.
TOP 5 WORKFORCE METRICS FOR MEASURING SUCCESS
ABOUT THE SPEAKER
3. • Examine the importance of looking at workforce metrics
as we approach year end
• Explore top metrics in 5 key areas:
• Recruiting
• Retention
• Employee Engagement
• Performance
• Operational Efficiency
• Discuss next steps when collecting and analyzing these
metrics
SESSION OVERVIEW
TOP 5 WORKFORCE METRICS FOR MEASURING SUCCESS
4. • You can’t improve what you can’t measure
• Year end is a critical time to look organizational
performance and plan improvements for 2020
• Most organizations don’t adequately measure workforce
management because it’s too difficult to piece together
the information they need for clear insights
• We need to think about metrics carefully and
intentionally
TOP 5 WORKFORCE METRICS FOR MEASURING SUCCESS
WHY METRICS? WHY NOW?
5. KEY METRIC #1: RECRUITING
TOP 5 WORKFORCE METRICS FOR MEASURING SUCCESS
• What we’re trying to answer:
• Are we able to effectively and efficiently bring in
new talent to maintain and/or grow our
organization to meet the demand for services?
• Measures that can help:
• Cost per hire
• Time to fill and time to hire
• Daily lost revenue
6. TOP 5 WORKFORCE METRICS FOR MEASURING SUCCESS
KEY METRIC #2: RETENTION
• What we’re trying to answer:
• Are we managing our workforce in an effective
way to retain our top employees?
• Measures that can help:
• Turnover trends
• By department, location, manager, and more
• Exit interviews
• Termination reasons
7. TOP 5 WORKFORCE METRICS FOR MEASURING SUCCESS
• What we’re trying to answer:
• Are our employees engaged with their work
and therefore doing the best job possible?
• Measures that can help:
• Employee engagement surveys
• Pulse surveys
• Frequent feedback systems
KEY METRIC #3: ENGAGEMENT
8. TOP 5 WORKFORCE METRICS FOR MEASURING SUCCESS
• What we’re trying to answer:
• Are our employees meeting their productivity
goals to help the organization achieve their
mission?
• Measures that can help:
• Productivity targets
• Configurable and frequent 1-1 check ins
• Learning and development goals
KEY METRIC #4: PRODUCTIVITY/PERFORMANCE
9. TOP 5 WORKFORCE METRICS FOR MEASURING SUCCESS
• What we’re trying to answer:
• Bringing all of the metrics together, are we allocating
time, resources, and people effectively to maximize
resources while controlling costs
• Measures that can help:
• Cost of providing programs and services
• Financial efficiency
• By program, department, location, cost center etc.
• Budget compliance
KEY METRIC #5: OPERATIONAL EFFICIENCY
10. LOOKING AT WORKFORCE
MANAGEMENT HOLISTICALLY
• These metrics are very much interrelated and
interdependent
• Important to break down into specific areas
and measure, and then bring everything back
together
• Gives the data-driven insights necessary to
understand the whole picture
TOP 5 WORKFORCE METRICS FOR MEASURING SUCCESS