Managing Human Capital; Human Resource Metrics
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Institutional Affiliation
How a Company knows it Needs Culture Adjustment to be a Sustainable and Compassionate Employer
Employees not only yearn for steady jobs but also look for excellence in culture, purposefulness, prospects, among other factors that enhance compensation and job security through which they join organizations, retain jobs and perform to their utmost best(Seven habits, 2019). First, the ways a company can use to know whether they need culture adjustment is the employee satisfaction index, which is a metric under talent retention. A survey done for the company-wide can help to gauge the happiness of employees, which will provide an essential suggestion for the employees.
The number of employee satisfaction surveys is another way that an organization, as an employer, can use to tell the efforts being used in the maintenance and improvement of employees’ happiness (Jessee, n.d). The percentage of employees trained in a company’s culture shows the importance and knowledge of an organizational culture company-wide. The percentage of vacation days used will show the attitude of a company towards health work-life compared with unused days. The last factor is the net promoter score and is a measurement for the likelihood of employees recommending their organization as a working place. Its determination involves the promoters and detractors percentage difference.
The Type of Metrics Important in HR and their Use
The types of metrics important in HR are compensation, culture, employment, and performance metrics (Jessee, n.d). All of these measure their success with updates on key performance indicators. Compensation metrics show how a company is meeting its needs from compensation activities and would thus show the succeeding and failing programs and the meeting of goals. Culture metrics show how a company is used to daily activities for their net performance from employees and the means that may need to be taken for better changes. Employment metrics show all information about the workforce activities such as the hiring, retention, training, and costs of labor among the workforce. It provides critical information to the improvement of efficiency and value of activities. Performance metrics provide information about job activities such as new hiring, referrals, and promotion (Jessee, n.d).
Reasons why employee Engagement or Satisfaction Metrics Might Rise or Fall
A fall or rise in metrics may emanate from the devised new ways of working, impacting the HR profession that brings about irregular shapes. These reasons come from the HR professions’ daily execution activities in the design and implementation of people. It occurs when the businesses aim for shared value creation. When the HR profession creates proper management and development of people, the shared value is enhanced and thus a rise in performance metrics (Zheltoukhova, 2015). Some HR lack a business focus but look at employee commercial interests, which is practice causing a fall in the employee metrics. Such challenges lead to the fall in HR metrics concerned with the development of relevant professional expertise.
Steps a Company Should Take to Improve Employee Satisfaction or Engagement
One way is for a company to focus on the emerging trends among employees. It should allow the skilled employees to go to their best expertise area of work, focus on the necessary employee brands which reflect much about their voice, and ensure that the recruited employees are candidates for their suitable jobs. Communication in real-time and on ways will increase employee satisfaction (Seven habits, 2019). Connecting people in unimaginable ways, such as their shared goals and projects, will lead to an improvement in their happiness. Real-time data for employees must power organizations.
References
Jessee, T. (n.d.). 48 HR KPIs & metric examples and how to implement them. ClearPoint Strategy. Retrieved from https://www.clearpointstrategy.com/human-capital-kpis-scorecard-measures/.
Seven habits. (2019). 7 habits that are stalling your employee engagement program and how to fix them. Glint. Retrieved from https://info.glintinc.com/rs/586-OTD-288/images/GLINT-15-001_WP_P3.pdf.
Zheltoukhova, K. (2015). New ways of working: What is the real impact on the HR profession? ProQuest One Academic. Strategic HR Review, 14(5), 163-167.