Since HR departments typically aren’t included in the strategic planning process, creating an HR scorecard is a way to expose the department’s contributions in concrete, clearly understood metrics at the executive level. Mistakes in creating compensation and benefits manager KPIs Building KPI system plays an important role in evaluating job performance of individual parts, divisions and the company’s objectives and performance management system in general. : Helps to measure the amount invested in onboarding new hires. Develops challenging but achievable goals. : The summed age of all retiring employees divided by the number of retiring employees. : Measures how likely an employee is to recommend their organization as a place to work. SimpleKPI has been developed to deal with the issues and problems surrounding tracking, analyzing and reporting on KPI's. Average Turnover Percentage – Average number of staff members who abandon the firm annually divided by the total number of staff members at the beginning of the same year, as percent. Once you’ve defined your human resources KPIs, it’s time to start implementing them by creating a Balanced Scorecard. Using a company-wide survey can be helpful in gauging employee happiness. Cost per Hire – The average cost acquired by the HR office to fill one available role within the firm. Organizes written ideas clearly and signals the organization to the reader (e.g., through an introductory paragraph or through use of headings). Questions others to assess their confidence in solving a problem or tackling a situation. Compensation and Benefits KPIs are reflective of HR functions and are grouped into the following clusters such as Fringe Benefits, General Compensation and Other C&B Expenses. Can be determined by dividing the number of high performers to leave in the past year by total high performers identified. Improve engagement surveys – The engagement survey measures the extent to which employees feel valued at your company. ***The Choice of HR KPI will vary … Engagement is a mindset. Works cooperatively with others to produce innovative solutions. Implements or supports various change management activities (e.g., communications, education, team development, coaching). Formal management of staff performance and responsibilities. This metric helps indicates the success of retention efforts and aids planning for talent replacement. Works for solutions that all team members can support. Improve turnover/retention – The turnover/retention KPI measures employee engagement by looking at employee turnover versus employee retention. Competencies dealing with people in influencing others. Total Expense: Training and Development Expense – Total amount of training and development expenditure for the past year, involving all charge backs to the company. Want to take this KPI list with you? Covered Employee Population – The percentage of workers who are qualified for health insurance coverage under the firm’s benefits policy compared to the total number of employees employed by the company. Encourages and supports entrepreneurial behavior in others. Identifies and targets influence efforts at the real decision-makers and those who can influence them. Tries to build relationships with people whose assistance, cooperation, and support may be needed. AUDIT REPORT COURTS ADMINISTRATION SERVICE 4 Audit of Internal Controls over Salaries and Employee Benefits . Seeing if the individuals retained knowledge well enough to apply it is critical. Compliance Training Hours – The average number of hours consumed on compliance-related training in the following fields: performance management, work/life concerns, sexual assault, discrimination, applicant evaluation. Seeks opportunities to work on teams as a means to develop experience and knowledge. : Allows managers to see the value added when current employees help to identify and acquire talent. Competencies dealing with people in building collaborative relationships. : This is a key metric underlying talent retention. +1 (970) 579-0900 Possesses in-depth knowledge and skill in a technical area. They could include: stock awards, stock sale, financial advice, and so on. Engaged employees participate actively in their job roles. Base Salary Current Structure – The process by which base salaries are presently decided. Competencies dealing with people in interpersonal awareness. : The performance of new hires can be compared to that of other employees. Reinforces team members for their contributions. HR admin and payroll positions must have KPIs in place to measure and monitor: Accuracy and proper management of payroll data. 1901 N. Moore Street, Suite 502 | Arlington, VA 22209 | 866-568-0590 | [email protected], Copyright © 2020 Ascendant Strategy Management Group LLC d/b/a ClearPoint Strategy |, Note: We’re not suggesting nor advocating for you to begin measuring all of these KPIs. Identifies and presents information or data that will have a strong effect on others. Some example objectives you can customize include: 1. Functional knowledge is significant so the corporation can depend on its HR managers to help direct … Likeability – I enjoy meeting with this employee outside of work. This is determined by the difference in percentage of promotors and detractors. Employees must use their vacation days. Payroll Headcount Ratio – The number of firm-wide FTEs divided by the overall number of payroll FTEs. Process Changes Cycle Time (Material/Non-Material) – Number of weeks needed to handle modifications that have a financial (401K contribution adjustment) or non-financial consequence on the employees (phone number change). Using one of the HR metric examples from above, minimizing employee turnover frequently appears on scorecards. The other primary benefit of a scorecard is that it demonstrates the strategic value of human resources to the leadership team. Key performance indicators for compensation measure an assistant’s efforts to help process payroll efficiently and accurately. A low value can indicate poor employee engagement levels. Gives talks or presentations that energize groups. Involves others in a process or decision to ensure their support. Provides opportunities for people to learn to work together as a team. Provides helpful, behaviorally specific feedback to others. Competencies dealing with people in attention to communication. Can be calculated by looking at the number of employees who retired as a percentage of the headcount. Hiring a Compensation and Benefits Specialist? Take time to identify which HR metrics will bring the most value to your organization and department. : This measure keeps tab on the amount of low-performing employees in an organization. Below the infographic, we've provided a detailed list with explanations of each KPI. Turnover Rate – The percentage of posts within the firm that were vacated over one single year. Probes skillfully to get at the facts, when others are reluctant to provide full, detailed information. In addition to KPI names, the report contains a detailed description of each KPI… Does more than what is normally required in a situation. : The cost of the workforce as compared to all costs can be measured by summing all salaries and dividing by the total company costs within a given period. Sets up procedures to ensure high quality of work (e.g., review meetings). Training & Development Expense per Employee – The yearly expenditure on training for each enterprise-wide staff member. Typically determined through a post-training survey. Number of Continuing Education Participants per Year – Yearly average number of workers who engage in firm-sponsored continuing education projects. Identifying what needs to be done and takes action before being asked or the situation requires it. Evaluate scorecard metrics periodically to ensure they are still valid. HR generalists are in charge daily HR activities like keeping HR data system records and organizing reports from the database, establish department goals, targets and systems, setting up interviews and execute other functions assigned and required by the company management. Number of Training and Development Staff – Number of HR employees dedicated to training and development firm-wide. Takes the lead in setting new business directions, partnerships, policies, or procedures. Candidate Notification Cycle Time – Percentage of staff members who abandon the company after the initial year divided by the total number of staff members within that year. You will assess personnel needs and draft … Total Expense: Benefits per Firm-Wide Employee – Total dollar expenses in offering benefits services during the preceding year divided by the total number of workers at the culmination of that year. Competencies dealing with business in fostering innovation. : Used to evaluate the competitiveness of compensation options. Weighs the costs, benefits, risks, and chances for success, in making a decision. Seizes opportunities to influence the future direction of an organizational unit or the overall business. Develops and proposes a long-term (3-5 year) strategy for the organization based on an analysis of the industry and marketplace and the organization’s current and potential capabilities as compared. External Recruitment Rate – The rate in which posts are filled by personnel not currently employed by the company. Industry benchmarks can then be a helpful comparison. Understands both the strengths and weaknesses of others. : This metric is particularly important for any organization developing a strategic workforce plan. Takes time to get to know coworkers, to build rapport and establish a common bond. Uses appropriate grammar and choice of words in oral speech. : Reflects on how welcoming the company is to new hires. Findings and Recommendations . Carefully reviews and checks the accuracy of information in work reports (e.g., production, sales, financial performance) provided by management, management information systems, or other individuals. Regularly meets with employees to review their development progress. Maintains eye contact when speaking with others. : Helps to measure workforce efficiency over time. Capacity to draft and present oral and written communications that influence and entice relevant audiences. Competencies dealing with business in analytical thinking. Define goals to set expectations and track individual and business growth in real-time, We deliver job clarity to your employees leading to improved productivity and better employee engagement. Creates a graphic diagram showing a systems view of a situation. Ensures that all team members are treated fairly. Being aware of these trends aid in forecasting retirement and planning for workforce replacement. Recruiter’s Time Allocation – The average amount of a recruiters time consumed on specific tasks divided by the total expected time. High absenteeism levels affect everyone in the team because other team members must cover the absent employee’s work. Poor productivity from non-engaged staff is thought to contribute to a $7 trillion loss in the global economy . Can be determined by taking the total price of health care costs divided by all employees. Activity Breakdown: HR Generalist – The average percentage of HR generalist time directed to these tasks: handling workplace disputes, HR counseling, policy information. Understands the unspoken meaning in a situation. Contact Center to Benefits Headcount Ratio – Number of contact center personnel responding to benefits queries divided by the total number of benefits personnel firm-wide. Develops and uses systems to organize and keep track of information or work progress. Typically done by evaluating performance reports. But what is important is that you share both positive and negative results. Seeks out and builds relationships with others who can provide information, intelligence, career support, potential business, and other forms of help. Ensures that everyone understands and identifies with the unit’s mission. Capacity to hand over obligations and to collaborate with others and mentor them to improve their competence. Capacity to search and grab business opportunities; eagerness to take well-considered risks to accomplish business objectives. Work Ethic – Please rate employee’s work ethic and ability to achieve stated goals and objectives. In addition to KPI names, the report contains a detailed description of each KPI, as documented in smartKPIs Premium. Candidates Interviewed per Hire – Average number of applicants interviewed divided by the number of applicants who were retained. : Determined by calculating the total number of candidates interviewed by the total number of hires in a particular hiring period. : The number of business days it takes to resolve payroll error reported by employees. Time to Start – The average amount of time from the announcement of job opening to the day a new hire starts the job. Can be determined by dividing the number of promoted individuals by the total number of employees. Works with employees to set and communicate performance standards that are specific and measurable. Recruiting & Hiring Expense per FTE – The total expenditure of the Recruiting & Hiring management divided by the expenses acquired by enterprise-wide FTEs. Presents several different arguments in support of a position. Quickly and effectively solves customer problems. Can be defined as the profit per dollar invested in social compensations/wages. Total Headcount: College/MBA Recruiting – Total number of workers in the firm’s college/MBA recruiting office by degree. Uses graphics and other aids to clarify complex or technical information. Effectively applies technical knowledge to solve a range of problems. Number of Interviews per Day – Average number of applicants interviewed during a single interview day. Spans and Layers: Recruiter per HR Manager – Average number of workers who report straight to a manager within the staffing and recruiting division. Improve goal performance – The goal performance KPI determines how engaged employees are by measuring the ratio between achievements versus failures. Span of Control: HR – The average number of HR personnel reporting to every HR supervisor. 1. HR Training Expense as a Percentage Total HR Expense – Total percentage of expenditure associated with employee training and advancement compared to the total HR division expenditure. The Compensation and Benefits policy ensures to manage the employees’ fixed pay and provide various benefits by setting performance standards and maintaining the same for every employee. Signals own commitment to a process by being personally present and involved at key events. Identifies and proposes solutions that benefit all parties involved in a situation. Specifically, HR departments are often responsible for controlling costs by eliminating inefficiencies. Conveys a command of the relevant facts and information. Seeks performance feedback from his/her manager and from others with whom he/she interacts on the job. Can effectively handle several problems or tasks at once. Strengths – Please rate the employee’s overall job strength and provide the areas in which the employee excels. Cycle Time of Enrollment – Number of weeks needed for a new employee to be fully admitted in the company’s benefits policy. Improve supervisor satisfaction – The supervisor satisfaction KPI measures how engaged and satisfied employees are with their supervisors or managers. Develops technical solutions to new or highly complex problems that cannot be solved using existing methods or approaches. Having an informed and invested leadership team has been proven to increase HR budgets and department support. The capacity to take charge of all matters concerning employee performance by establishing specific goals and objectives, evaluate progress against the objective, securing feedback, and quickly deal with performance issues. Gives people latitude to make decisions in their own sphere of work. Turnover Rate: Involuntary – The total percentage of forced separations over a specific term compared to the total number of  company-wide staff members. Prepares a personal development plan with specific goals and a timeline for their accomplishment. We serve most industry types effectively. Develops other indirect strategies to influence others. A high number of days could indicate the need to review your payroll process. Can be determined through surveys, and can be used to break down each benefit individually. HR Recruiting & Hiring Expense as a Percentage of Total HR Expense – Total HR Recruiting & Hiring related expense divided by total HR Team expense, as a percentage. Capacity to be accountable for own’s conduct. Recognizes and rewards people for their achievements. A successful company is one that has established an open and accepting work environment. Gets more complete and accurate information by checking multiple sources. It provides the means to monitor workforce indicators, analyze workforce statistics, diagnose issues, and calculate financial impacts. Human Resources key performance indicators (HR KPIs) are metrics that are used to see how HR is contributing to the rest of the organization. Improve the productivity rate of employees – The productivity rate of employees KPI is designed to evaluate the productivity of an organization over time. HR KPI metric ‘Engagement’ follows at 54%, as the next most used metrics. When building KPI … Presents arguments that address others’ most important concerns and issues and looks for win-win solutions. Understands the organization’s strengths and weaknesses as compared to competitors. Keeps informed about cutting-edge technology in his/her technical area. Capacity to create, uphold, and reinforce partnerships with others outside or within the company who can contribute in terms of knowledge, aid, and assistance. Capacity to come up with efficient solutions by taking an integrated, conceptual, or theoretical outlook. Exerts unusual effort over time to achieve a goal. : Gives perspective on the amount of labor and productivity lost due to sickness and otherwise unpredicted leave. Having an informed and invested leadership team has been proven to increase HR budgets and department support. You can use a variety of HR KPIs to create a balanced scorecard, which will give you a broader overview of how the … Speaks clearly and can be easily understood. The higher this index, the more engaged employees are because they are healthy and happy. A scorecard is a cluster of data that helps your leadership team critically analyze the effectiveness of your HR strategies in relation to developing a competitive advantage, improving skills, managing your culture, reducing costs, etc. Identifies the specific information needed to clarify a situation or to make a decision. Determine what actions need to performed and doing it before any orders or before the situation calls for it. Improve vacation days used – The vacation days used KPI measures the number of vacation days an employee has used. 1.4. Employees who are not happy will leave to find employment where they can be happy at work. Facilitates groups or teams through the problem-solving and creative-thinking processes leading to the development and implementation of new approaches, systems, structures, and methods. Can be determined by dividing the average company salary by the average salary offered from competitors or by the rest of your industry. Carefully prepares for meetings and presentations. Encourages individuals and groups to set their own goals, consistent with business goals. Competencies dealing with people in persuasive communication. … The employee engagement objectives (KPIs) are designed to track and measure how happy and engaged your employees are. Share your HR metrics and progress with the entire organization to demonstrate the department’s contribution to the strategic goals. An HR Balanced Scorecard is a tool to keep your staff focused on activities that not only support the department, but also the company’s overall goals. Asks about the other person’s personal experiences, interests, and family. The Top 25 Compensation and Benefits KPIs of 2011-2012 report is a comprehensive analysis on the most popular HR KPIs … When building KPI … of sample employee files for the period of April 1, 2013 to March 31, 2014. Competencies dealing with people in managing change for employees, Capacity to show approval for modernization and for administrative changes necessary to boost the organization’s performance, Competencies dealing with people in managing change for manager/team leader, Institute, promote, and enforce organizational transformation; provide aid to others so they can effectively handle the transformation, Competencies dealing with people in oral communication. Finds creative ways to make people’s work rewarding. We dive into the core responsibilities of the compensation and benefits manager, take a look at his/her salary, and finish up with an example job description. : This ratio measures how many people already working at a company are considered for internal promotion versus the number of externally attracted people. HR Tools, Scorecards and Dashboard Templates . Quickly identifies the central or underlying issues in a complex situation. It measures how resilient employees are. HR KPIs are measurements that indicate whether a human resources department is meeting its goals as they relate to the business. Percentage of Workforce below Performance Standards – The number of workers who fail to satisfy the established performance standards for their position or function. A diverse employee pool results in vibrant, healthy work culture and improves employee engagement. Ensures that regular, consistent communication takes place. Voluntary Separation Rate – The percentage of voluntary exits (resignations) compared to the total number of terminations. Competencies of managing performance for managers. Conduct regular meetings to review HR KPI progress at both the department and organization level. Your next step is to choose the KPIs that will bring the most value to your organization and create your scorecard. Human capital administration directs efforts on the techniques and procedures in managing employees efficiently. Stays informed about employees’ progress and performance through both formal methods (e.g., status reports) and informal methods (e.g., management by walking around). It doesn’t have to be complex or take a gargantuan effort to create—it could be something as straightforward as an HR KPI dashboard. Job brief. We are looking for a Compensation and Benefits Specialist to oversee and administer the employees perfect rewards and smart benefits. Provides specific performance feedback, both positive and corrective, as soon as possible after an event. Example KPI for KPA 1 = reduce the recruitment cost per head by 10%. A KPI Dashboard Template makes it easy to analyze key performance indicators and visualize trends, use this extensive list to get an idea of what like-minded organizations may be looking at. HR KPIs are strategic tools that can help you understand whether you’re accomplishing your HR objectives in a way that is in line with your strategy. Responsibilities includes employee’s right to have a fair practices to work safety and with benefits structure. Ensures that people in the unit understand how their work relates to the business’ mission. The "Top 25 C ompensation and B enefits KPIs of 2011-2012" report provides insights in the state of Compensation and Benefits performance measurement today by listing and analysing the most visited KPIs in this category on smartKPIs.com in 2011-2012. Employee suggestion box – The employee satisfaction box KPI measures the extent to which employees use this option to express their views about the business, including their relationships with their peers, direct reports, and managers. Capacity to create and disseminate objectives in upholding the business’ goal. Enlists his/her manager’s support in obtaining the information, resources, and training needed to accomplish his/her work effectively. Competencies dealing with business in diagnostic information gathering. The recruiting and hiring office invites, evaluates, and chooses candidates for available jobs within the firm. As such, it's important to revise your KPIs as business objectives evolve over time. This is the number of business days in the payroll process from start to finish. Mistakes in creating compensation & benefits manager KPIs Building KPI system plays an important role in evaluating job performance of individual parts, divisions and the company’s objectives and performance management system in general. Goals are designed to stretch and stimulate employees. Related: Human Capital Management Consultant, Human Capital Management Analyst, Human Capital Management Specialist, Human Capital Management Associate. HR KPIs should be specific, measurable, and actionable. Competencies dealing with business in results orientation. Improve the diversity rate – The employee diversity rate KPI is defined as a measurement that tracks how diverse the organization’s employees are. : As an organization, you want to ensure that the dollars you are putting into training your employees is paying off. Search Sample Formats: employee kpi evaluation form; kpi for resignation; poor kpi letter notice to employee ; No Related Sample Formats. Capacity to execute crucial decisions promptly. Identifies a set of features, parameters, or considerations to take into account, in analyzing a situation or making a decision. HR Generalist Staff Percentage – The total percentage of HR workers compared to the number of HR generalists. Can be compared to the number of full-time workers to better understand workforce trends. Finds non-threatening ways to approach others about sensitive issues. HR Management Levels – Number of executive levels in HR from office head to the lowest executive level. Annual Salary Increase – The percent rise in yearly salary for every staff member working within a specific job … If this metric is high, then your employees are not as engaged as they should be. Determined by dividing the number of employees who left the company in a given period by the average number of employees in that time period. Encourages groups to resolve problems on their own; avoids prescribing a solution. And employees must be given the correct tools and training before they can engage with their job roles. In other words, HR KPIs mirror … Click To Tweet. Acknowledges and thanks to people for their contributions. Well-known organizations and enterprises from all over the world regularly discuss how important it is to hire and retain the right talent, and this ability is often regarded as one of the greatest predictors of organizational success. Competencies dealing with people in written communication. Makes a systematic comparison of two or more alternatives. Finds ways to measure and track customer satisfaction. Number of Grades (Bands) – Ranks or groups into which positions of the same valuation are classified for compensation objectives (in a point factor systems the ranks are usually determined as grades; in a broadbanding system the ranks are usually determined as bands – grades within bands specify career or occupational grades). Competencies dealing with business in initiative. Provides assistance to others when they need it. Summarizes or paraphrases his/her understanding of what others have said to verify understanding and prevent miscommunication. A low percentage might indicate the need to update an unclear or unattractive job posting, and a high percentage indicates a larger number of qualified candidates with whom to continue the hiring process. KPIs not only provide an organization with a focus for strategic and operational improvement, but a way to compare achievements to similar organizations. Has a strong sense of urgency about solving problems and getting work done. Healthcare Expense per Covered Employee – The average amount of health insurance costs accumulated by the firm, for each staff member protected by company health insurance. Anticipates the consequences of situations and plans accordingly. Generalist Reporting Structure – An evaluation showing which every HR generalist report to: HR Chief, Business Group Head, CAO, Regional Chief, dual reporting. Competencies dealing with people in developing others. Training & Development Headcount Ratio – The number of company-wide employees per employee under the training and development division. Transfer Request Ratio – Number of transfer applications accepted from staff members during the last year divided by the total number of workers at the start of the year. Setting up key performance indicators for your human resource department will help you to … HR Benefits Expense as a Percentage of Total HR Expense – The average amount of health insurance costs accumulated by the firm, for each staff member protected by company health insurance. Develops clear goals for meetings and projects. Takes a personal interest in others (e.g., by asking about their concerns, interests, family, friends, hobbies) to develop relationships. Is able to let others make decisions and take charge. : Helps understand how much effort is being put into maintaining and improving employee happiness. Creates graphics, overheads, or slides that display information clearly and with high impact. Human Resources KPIs measure and evaluate all levels of employees who work within the Human Resource sector. The happier and more satisfied employees are, the higher the engagement levels, the greater the productive output, and the higher the organization’s profitability figures. : Keeps track of how successfully the organization is creating an environment that fosters an open and accepting community.
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