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Workforce Management

5 Tips for Effectively Using Your HR Metrics

With today’s technology, it is becoming increasingly important to

measure and analyze the value of your employees. Business intelligence

allows your company to use fact-based decision making when it comes to

development and management of your human resources. We have outlined

some measurement best practices and key properties of successful

metrics.

It is important to be selective and deliberate about what you measure

and report on, or else you will spend your time focusing on measuring

trends that may not have an impact on key decisions. Here are five tips

to keep in mind:

1. Keep your HR metrics focused. If your business is reporting on too

many things, you often lose sight of the key performance indicators.

Determine the key drivers in your business to focus on measuring what

will truly tell the story of what is happening with your employees.

2. Align reports with your strategic goals. Be deliberate about

matching your analysis with your business goals. It is important to show

progress and to identify problem areas early, so they can be corrected.

3. Use metrics to drive executive action. The goal of reporting on

key metrics is to compel the executive team to take action on areas of

the business that may need attention and improvement. Be sure to clearly

show how your employees are developing and becoming more efficient.

4. Ensure your supporting data is available and accurate. Before

outlining your key performance indicators, double-check that you are

able to access the required information and verify that you are

reporting accurate data.

5. Share your reports to make them actionable. To make your reports

actionable and easy to reference, put them in a place where the key

stakeholders can easily view them.

These guidelines are a great way to start making your data analysis more

effective and keeping your business on track towards its strategic

initiatives. Paycor offers tools that can help you organize and

interpret your human resources and help you reach your business goals.

Take a look at our

payroll, HRIS systems and advanced reporting solutions,

and get in touch with us to learn more.