HR Metrics: What you need to know

Metrics are simply ways to define, measure, and track key performance indicators. Metrics are certainly not unique to the HR profession but, rather, are used in almost every area of business, government, and education. For example, a key metric in education may be student performance on standardized tests. This information can help drive educational priorities to improve future student performance. Similarly, in HR metrics are used to measure and track the performance of most companies’ largest and most valuable investment—their workforce, or human capital. Through a variety of measurements, HR professionals can analyze a company’s strengths and weaknesses in hiring, compensation, training, and employee retention, to give a few examples.
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The role of HR is a dynamic one, changing as fast as technology and the global marketplace do (especially when you consider that HR depends on, and interacts with, both).
Historically, the HR department was considered administrative overhead. HR processed payroll, handled benefits administration, kept personnel files and other records, managed the hiring process, and provided other administrative support to the business. These functions were administrative necessities, but were not considered integral parts of the core business. Today, many of these administrative functions have been automated and/or outsourced. The positive result of these changes is that HR professionals now have the opportunity to play a more strategic role in the business and to rise as respected thought leaders and executives.
Business leaders focus on revenue, profit growth, market share, new ...

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