Assignment Task:
Human Resource Metrics
Instructions:
In this exercise, you will research Human Resource metrics and measurements and consider the appropriate types of metrics and measurements that should be used by an HR department in a mid-sized company of approximately 1,000 - 3.000 employees. Examples of HR metrics are Compa-ratio, Market Index, Turnover Rates (Voluntary and Involuntary), Time to Hire, Revenue per employee, Total Compensation to Revenue, Revenue per employee, etc.
Assignment Description:
For your paper, you will write a five-page report on the appropriate types of Human Resource Metrics that a typical mid-sized company would need to analyze and regularly report to Senior Management. The paper should explain how the data will be obtained (i.e., what source will you draw the data from), how the data will be analyzed, and how the data will be regularly reported to Senior Management.
Further, you will discuss the various public or private sources of benchmark Human Resource Metrics data. Report what you found from your research on sources of benchmark Human Resource Metrics and discuss which sources you would recommend for a mid-sized company.
To be considered complete, the following information must be included in your paper. Use the headings provided below in your paper. Include sub-headings where appropriate to demonstrate a shift in thought. Need Assignment Help?
- Introduction: The introduction provides a brief historical overview, the reasoning for recommendations, and previews the report's major points.
- A General Discussion on HR Metrics: This section should include a discussion about the main types and categories of Human Resource Metrics; what each metrics measure; their importance in analyzing the effectiveness of a company's human capital expenditures; the importance of using quantification in measuring the effectiveness of a company's human resources.
- Suggested Metrics for a Mid-Sized Company: This section should include a discussion about which metrics are important for a mid-sized company detailing the reasons why they are important. Also discuss which metrics are must-haves for mid-sized companies, and which metrics are wanted.
- Collecting Comparative Data on Human Resource Metrics: This section should include a discussion on the various public or private sources of benchmark Human Resource Metrics data; a report on what you found from the research on sources of benchmark Human Resource Metrics, and then an explanation about which sources you would recommend for a mid-sized company. Important! Do NOT simply cut and paste information from websites or copy information directly.
- Conclusion: Provide appropriate concluding remarks by summarizing the purpose of the research.
Treat this assignment as a real-world situation. Doing so will give you the opportunity to practice how you would research and provide information as an HR professional.