Raising productivity May 2012


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Raising productivity May 2012

  1. 1. Raising productivityby Toronto Training and HR May 2012
  2. 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. 3. Introduction Page 3
  4. 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. 5. Definition Page 5
  6. 6. DefinitionProductivity Page 6
  7. 7. Benefits of raising productivity Page 7
  8. 8. Benefits of raising productivityIt leads to reduced attritionIt leads to less infightingIt leads to proper hiring Page 8
  9. 9. Calculating productivity Page 9
  10. 10. Calculating productivity 1 of 2Q = F (K,L,T)whereQ = OutputL =LabourK = CapitalT = Technological change (or productivity) Page 10
  11. 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. 12. How to minimize distractions Page 12
  13. 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. 14. Techniques to increase productivity Page 14
  15. 15. Techniques to increase productivityConstant communicationCrucial confrontationFocus on feedbackCreate collaborationRemember to reward and recognize Page 15
  16. 16. Economic growth Page 16
  17. 17. Economic growth 1 of 2Increases in the factors of productionEfficiency gains Page 17
  18. 18. Economic growth 2 of 2OutputEconomic growthGDP per capita Page 18
  19. 19. Labour productivity Page 19
  20. 20. Labour productivityCHANGESA change in capital intensityA change in labour qualityA change in multifactor productivityA cyclical change of the aggregate economicactivity Page 20
  21. 21. Impact of a smooth career transition Page 21
  22. 22. Impact of a smooth career transitionCost of recruitmentCost of trainingCost of compensation and benefitsCost of workplace integrationBreak-even point Page 22
  23. 23. Automating HR Page 23
  24. 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. 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. 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. 27. HR measures Page 27
  28. 28. HR measures 1 of 15HR COSTHR cost per employeeHR cost v revenue Page 28
  29. 29. HR measures 2 of 15HR RESPONSIVENESSAverage response time (ticket open with HR)Average resolution time (ticket open with HR) Page 29
  30. 30. HR measures 3 of 15ISSUE MANAGEMENTHR complaints by categoryAverage complaint resolution timeLegal costsSettlement costs and penalties Page 30
  31. 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. 32. HR measures 5 of 15RECRUITMENTManager satisfaction with new hiresManager satisfaction with recruitment processEmployees recruited from key competitors Page 32
  33. 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. 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. 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. 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. 37. HR measures 10 of 15HR PIPELINEEmployee salary by levelNumber of employees by bandEmployee productivity by positionAttrition by level Page 37
  38. 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. 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. 40. HR measures 13 of 15EMPLOYEE SATISFACTIONEqual opportunitiesWork/life balanceEmployee commitment indexMarket opportunity indexEmployee complaintsEmployee lawsuits Page 40
  41. 41. HR measures 14 of 15TRAINING AND DEVELOPMENTTraining cost per employeeTraining per employee Page 41
  42. 42. HR measures 15 of 15DIVERSITY AND COMPLIANCEGenderDisabilities Page 42
  43. 43. Points to consider with HR measures Page 43
  44. 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. 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. 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. 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. 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. 49. Conclusion and questions Page 49
  50. 50. Conclusion and questionsSummaryVideosQuestions Page 50