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
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
and get in touch with us to learn more.