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I Need Some KPI For HR Dept. - Compensation And Benefits

Sfkmujahid Started The Discussion:

Can anyone send me some KPI for HR dept.

[ Leena ] (ContributingMember)

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Hi sfkmujahid, Some of the KPIs for the HRDepartment could be Employee Turnover,Employee Satisfaction, Absenteism, StaffCompetency. Regards, Leena

[ Kankana ] (ContributingMember)

I am a new entrant in the field of HR. So can youpls tell me wat does KPI stand for and wat is itssignificance in HR? Sorry for asking such a sillyques...

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[ Leena ] (ContributingMember)

Hi Kankana,

Let me try to help you.

KPI stands for Key Performance Indicator. Theyare not specifically linked only to HRD, but haveto do with the entire organization. EachDepartment/Division of an organization usuallyhas set and identified KPIs, which are measurableand quantifiable in nature so as to measure thesuccess of the organization in terms of theorganization's mission and goals. Hence KPIs canbe defined as measurements for an organization'ssuccess. KPIs are also known as KSIs whichstand for Key Success Indicators.

For instance, the HR Department could haveEmployee Turnover as one of its KPIs. The goalfor setting this KPI would be to reduce employeeturnover. It could be defined numerically for better

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difinition such as to reduce employee turnover by5% every year. This KPI could be defined as thetotal of the number of employees seperated fromthe organization for reasons of resignation ortermination divided by the number of employeesat the beginning of the year. It could be measuredon a fixed time schedule like every month or everyquarter.

I guess this will give you a basic idea. If you needany further clarification feel free to ask.

Regards,

Leena

[ Leolingham2000 ] (SeniorMember)

HR Key Performance Indicators

Frequently used HR Key Performance Indicatorsinclude:

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FTE = full time employees

Revenue per Employee (FTE) Assets per FTE Training Hours per FTE Training Costs per FTE HR Department Cost per FTE FTEs per HR Department FTE Acceptance Rate Average Cost per Hire Absence Rate Turnover RateResignation Rate Human Investment Ratio Compensation & Benefits/Revenue Average Remuneration

Time taken per recruitmentCost per recruitment

THE CHOICE OF HR KPI WILL VARY FROMYEAR TO YEAR,SUBJECT TO COMPANY'S -STRATEGIC PLANNING

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What Is Balance ScoreCard??? - BalancedScorecard

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-STRATEGIC PLANNING-CORPORATE STRATEGIES-CORPORATE OBJECTIVES

WHICH IN TURN AFFECTS THE HR'S

-HR STRATEGIC PLANNING-HRM STRATEGIES-HRM OBJECTIVES-------------------------------------------------------

The HR Balanced Scorecard is the measurementtool. It provides the management with a tool and aprocess to measure the performance of peoplepractices and the HR function from multipleperspectives:

1. Strategic Perspective the results of strategicinitiatives managed by the HR group. Thestrategic perspective focuses on themeasurement of the effectiveness of majorstrategy-linked people goals. For instance, thebusiness strategy called for major organizationalchange programs as the business faced major

SWOT Analysis - BalancedScorecard

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balancedscorecard

change management

performance management

hr strategies

compensation and benefits

role of hr hr processes

performance indicator

servicelevel

competitiveadvantage

mergers and acquisitions

human resourcemanagement


restructuring and multiple mergers andacquisitions. In this context, the organizationschange management capability will be a keyfactor in the success or failure of its execution.Therefore, measuring the ability of the business tomanage change effectively is the core measure ofthe effectiveness of HR and will be a key strategiccontribution to the future success of the business.

EXAMPLES-change management capability of theorganization-organization compensation and benefit packagewith respect market rate.-organization culture survey-HR BUDGET / ACTUAL-HR COSTS BENCHMARK EXTERNALLY-HR annual resource plan. -skills/ competency leveletc

2.Operational Perspective the operationaltasks at which HR must excel. This piece of theBalanced Scorecard provides answers to queries

management

humanresource

organizationculture

businesspartner

performance indicators

hrdepartment

businessdecisions

performance tracking

hr process

resource management

management process

compensation andbenefit

about hr

key performance indicator


Balanced Scorecard provides answers to queriesabout the effectiveness and efficiency in runningHR processes that are vital to the organization.Examples include measuring HR processes interms of cost, quality and cycle time such as timeto fill vacancies.

EXAMPLES-time taken to fill vacancies-cost per recruitment promotions-absenteeism by job category-accident costs-accident safety ratings-training cost per employee-training hours per employee-average employee tenure in the company-lost time due to injuries-no. of recruiting advertising programs-no. of employees put through training.-turnover rate-attrition rateetc

forhr

Location-Bangladesh-Dhaka

employee perception


3.Financial Perspective this perspective tries toanswer questions relating to the financialmeasures that demonstrate how people and theHR function add value to the organization. Thismight include arriving at the value of the humanassets and total people expenses for thecompany. HR

EXAMPLES-compensation and benefits per employee-sales per employee-profit per employee-cost of injuries-HR expenses per employee-turnove cost-employee '' workers compensation costs''etc

4.Customer Perspective this focuses on theeffectiveness of HR from the internal customerviewpoint. Are the customers of HR satisfied withtheir service; are service level agreements met;


their service; are service level agreements met;do the customers think they can get better serviceelsewhere? Conducting an HR customer surveymight typically arrive at this.

EXAMPLES-employee perception of the HRM-employee perception of the company , as anemployer-customer/market perception of the company, asan employer.etc

All four components of the scorecard are used todefine and measure the effectiveness of people-management activities and how the HR functionexecutes them. This provides a strategicmeasurement and management process to showthe connection between a companys businessstrategies and goals and its HR strategies,activities, and results. The Balanced Scorecard


can provide an ideal approach to measure thecontribution that human resource managementmakes to business success.

With the HR Balanced Scorecard in place, it canassist organizations to easily monitor theworkforce indicators that are key to their businesssuccess. Such solutions enhance HRs ability toprovide counsel to line management and deliverresults that make a difference to the achievementof their goals and strategy and thereby toshareholders. The apparent and inherent values that the HRBalanced Scorecard brings include: Measurement provides the data and facts tosupport business decisions, giving credibility toHR recommendations and initiatives; Collecting and using data to makedecisionsregarding retaining and motivating theworkforce, giving the organization a competitiveadvantage in the marketplace; The right mix of lead and lag measures helps thebusiness assess its strategicalignment and progress towards its objectives;


alignment and progress towards its objectives; HR will be proactive in identifying potentialimprovements and bringing suggestionsto the business that improve bottom-line results;and A business and linked measurement frameworkfocuses activity on those tasksthat contribute to organizational success. Thisprocess lifts the role of HR from being viewedpurely as a cost centre to that as strategicbusiness partner.

regards

LEO LINGHAM

[ AniruddhThakore ]

Some of the KPI may be ;Canteen CostEmployee Cost


Safety i.e No. of Accidents , Mandays LostAbsenteeismMandays lost due to labour problemPeople Development i.e No.of Trg Progs, No ofParticipants etcEmployees involved in SGASpecial projects i.e. progs for CommunityDevelopment, Environment Mgt etc

Regards

Aniruddh

[ Urvashipawar ]

Hi there,

I am Urvashi, New Entrant to this site.I work with Torrent Pharma and I am right nowtaking care of Performance Management System.I can help you in understanding few KPI of HRdept.


e.g if the KRA is 1.Saving of 20% amount on Budget forRecruitment Expenses.then the KPI could be 20%(excellent)15%(good)10%(satisfatory)7.50% (needs improvment)

2. Recruitment timeline (average) to be improved- 60 Days from vacancy creationthen the KPI could be 45 Days(excellent)60Days(good) 75 Days(satisfatory) 90 Days(needsimprovment)

KPI's are specific measures of KRA. It indicatesthe successful achievement of the KRA. KPIcould be -a percentage of decreasean amount of timea cost savingdate of completion....... to name a few.

Hope this info would help you understand better

Urvashi


Urvashi


Thanks a ton for your help in explaining theconcept and the practices. Thanks to Leena,Anirudh, Leo, Urvashi and the others who havehelped me get a better hang of the concept.Regards, Kankana




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