In today’s business environment, more and more HR professionals are being asked to show value and measurable results. HR needs to make fact based decisions about what HR programs best support the organization’s mission and goals. HR Metrics allow HR to measure the impact of programs as well as their own efficiency and effectiveness. These metrics can be reported to management and, where applicable, benchmarked to see how your HR department compares.
As a member of MRA, you have easy access to information on HR Metrics as well as access to benchmark data on 12 of the most frequently used metrics. The benchmarks represent not only MRA organizations but organizations across the country who are members of other employer associations like MRA. These are located on a secure HR Metrics Calculator page.
Over 100 MRA members already successfully use these calculators. Join them by setting up an account on the Calculator site. You'll be able to securely store your own data and see your results benchmarked by size, industry, and geographic region.
Here are the 12 Measures/Metrics you’ll see:
- Revenue per Employee
- Profit per Employee
- Human Resource Expense Factor
- Total Compensation as a Percentage of Revenue
- Absence Rate
- Turnover Rate
- Cost per Hire
- Turnover/Replacement Cost
- Benefit Cost as a Percentage of Total Compensation
- Benefit Cost a as Percentage of Revenue
- Variable Compensation as a Percentage of Total Compensation
- Time to Fill Jobs
It's another great member benefit from MRA! Log in and check out the site today to see how easy it is to get strategic HR information that can benefit your organization.