A sophisticated crop of measurement tools could take the guesswork out of human-resources management.
Craig Schneider, CFO Magazine
February 15, 2006
A shared accountability between HR and Finance should be to maximize the huge investment companies make in acquiring, equiping, developing, retaining, compensating, rewarding and deploying their workforce. Therefore, the primary goal of every analytics strategy should be to show the impact of workforce practices and performance on business outcomes. Tools are available today to integrate disparate HR data with finance, operations and customer metrics to provide executives, line managers and the HR team with true insight into that impact. Additionally workforce analytics can be used to achieve excellence in HR process and service delivery. As a HR professional and executive for 25 years, I am now proud to work for one of the leading organizations in this field. Combining this technology tool with business knowledge, analytical skill and financal acumen, HR can effectively lead an organization's successful utilization and optimization of its workforce. Joanne Bintliff-Ritchie SPHR, DoubleStar Inc
Posted by Joanne Ritchie | January 25, 2007 09:38 am
I was riveted to read the comments in the story, "The New Human-Capital Metrics" in CFO. As a 20+ year HR practitioner, I have long felt that such measures as time-to-hire, % turnover, etc. were far too simplistic to measure and evaluate the real value of the HR to an organization. You fill jobs quickly, but the person doesn't stay. Or worse yet, they stay, but don't perform well. Your fill rate is good and turnover is low, but at what cost to organizational performance? Could these possibly be the right metrics??? The NEW Human Capital Metrics provide a much more clear picture of what really matters if HR is truly making the right contribution to the bottom line and to the market value of an organization. Are the hires the RIGHT hires (do the good people stay and move up, do the poor performers move on?) When workforce requirements are planned as part of a businesses strategy, are the people who are needed on board where they need to be and when they need to be? If employees are going to contribute to the achivement of organizational goals, do they know what those goals are, and are their performance goals established and tracked to help identify who really contributes to the bottom line and who doesn't? Finally, if the phrase, "Employees are our greatest assest" is more than just a platitude, are we continually making that asset of greater value through training, career planning, and succession planning? Measure what matters! Gone are the days where HR was the dumping ground for managers who couldn't cut in in line roles. Recognition and respect have finally arrived for those who shape and influence how the bottom line is achieved in an organization. We are no longer the only ones who recognize the real value-add people make to the bottom line. We now have a place at the table as organizational leaders who can enlighten and educate our team members in management on how to maximize this asset, and who can do it seamlessly. Better late never. Pamela Headsten, SPHR West Coast Division Human Resource Mgr. REXEL
Posted by Pamela Headsten | March 18, 2006 05:00 pm
Identifying top performers before the job offer is made is easier than most hiring managers realize. If we want to make sure that all employees become long-term successful employees, we need to make sure that all new hires are competent and have a talent for their jobs.
For employees to find job success...
Posted by Bob Gately | March 02, 2006 09:59 am
Hi, Though the intention of author is quite apt to the current context of HR metrics, I found the article lacking in terms of any suitable solutions etc. The case studies were too generic and I felt it did not bring out the best of what was intended to be communicated. However, I would like to thank the author for sharing some good practices from different industry segments. regards Sandip
Posted by Sandip Mishra | February 15, 2006 11:17 pm© CFO Publishing Corporation 2009. All rights reserved.