In search of the most insightful HR analytics metrics, we’ve gathered insights from industry leaders, ranging from business development leads to marketing specialists. From guiding recruitment marketing with the time-to-hire metric to determining the cost savings from HR software, discover the metrics that have proven particularly insightful for these professionals’ organizations.
Time-to-Hire: Guiding Recruitment Marketing
Comparing time-to-hire across sourcing channels has produced helpful insights to guide recruitment marketing budget allocation, as well as time and energy expenditure.
Historically, applicant volume was the fixation, but realistically, it’s a vanity metric. Identifying opportunities to fill roles in a time- and cost-effective way, regardless of applicant volume, is key.
Matt Parkin
Business Development Lead, FindWRK
Turnover Rate: Enhancing Engagement and Retention
One HR analytics metric that has been insightful for our organization is the turnover rate of each department. By analyzing this metric, we gained valuable insights into areas with higher turnover rates, allowing us to identify potential issues and take proactive measures.
We focused on improving employee engagement, providing targeted training and development opportunities and enhancing communication within those departments. This metric served as a key indicator of areas requiring attention, helping us drive retention efforts and create a more positive work environment.
Ranee Zhang
VP of Growth, Airgram
Time to Fill: Refining Recruitment Processes
The “time to fill” metric measures the time to fill a vacant position within our company. While this may seem like a fairly common metric, what sets it apart for us is the additional insight we have gained by breaking it down further.
Instead of just looking at the overall average time to fill across all positions, we have analyzed this metric specific to different job roles and departments within our organization. We found that entry-level positions take significantly longer to fill vs. senior-level roles in our organization.
This valuable information has allowed us to pinpoint areas where our recruitment processes can be improved, such as targeting entry-level candidates more effectively or refining our onboarding procedures for these specific roles. Ultimately, understanding the nuances within the “time-to-fill” metric has enabled us to make data-driven decisions.
Steve Dinelli
Founder, Marketer Interview
Productivity Power Index: Boosting Performance
Move over. Our HR analytics has spilled the beans on a metric that’s more revealing than a magician’s tricks. Introducing the “Productivity Power Index” (PPI)—the key to unlocking our organization’s performance secrets.
Hold on to your hats because the data speaks volumes. Our top-performing teams witnessed a staggering 25% surge in productivity with regular team-building activities. It’s like witnessing a superhero squad assemble!
But wait, there’s more! Brace yourselves for this mind-blowing revelation: employees who received ongoing training and development experienced an astounding 40% spike in individual productivity. It’s like equipping them with lightsabers to battle inefficiency!
Armed with the PPI, we’re uncovering the secrets to peak performance and transforming our organization into an unstoppable force. Get ready to dive into the realm of analytics and unleash your team’s full potential. The game of productivity just got a major upgrade!
Himanshu Sharma
CEO and Founder, Academy of Digital Marketing
HR Software Cost Savings: Optimizing Costs
We can find the cost savings from HR software by calculating the ROI of our HR software and determining the difference between the expenses incurred for implementing and maintaining the software and the amount of money it has generated or saved for our organization.
This metric allows us to assess the effectiveness of our HR software in terms of cost optimization. It helps us identify areas where the software has led to tangible savings, such as reduced administrative costs, streamlined hiring processes, improved employee retention and better workforce planning.
Understanding the cost savings generated by our HR software empowers us to make data-driven decisions for investing in technology and further enhancing our HR practices.
Mark Asker
Managing Director, Air Energy LTD
Image: Canva
