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HR Metrics for Employee Engagement

Submitted by: Abhishek Bansal (A003) Pranav Kamath (A012) Aanchal Maria (A018) Kritika Thakur (A029)

Contents

INTRODUCTION ...................................................................... 3

EMPLOYEE ENGAGEMENT ...................................................... 4

HR METRIC ............................................................................ 5

HR METRICS & EMPLOYEE ENGAGEMENT .............................. 6

Annexure ................................................................................ 8

References .............................................................................. 9

INTRODUCTION
Human capital is one of the least measured and analyzed investments, despite the fact that more than 70% of company costs are labor related. Executives are realizing that they do not have a firm grasp on the characteristics and capabilities of their workforce. Investors are asking for „human capital‟ statements to be included as part of annual reports because human capital drives the performance of all other assets. The process of managing and improving the workplace is crucial and presents great challenges to nearly every organization. So it is vital that the instruments used to create change do, in fact, measure workplace dynamics The world‟s top-performing organizations understand that employee engagement is a force that drives business outcomes. Research shows that engaged employees are more productive employees. They are more profitable, more customer-focused, safer, and more likely to withstand temptations to leave the organization. In the best organizations, employee engagement transcends a human resources initiative — it is the way they do business. Employee engagement is a strategic approach supported by tactics for driving improvement and organizational change. The best performing companies know that developing an employee engagement strategy and linking it to the achievement of corporate goals will help them win in the marketplace.

EMPLOYEE ENGAGEMENT

Employee engagement, also called worker engagement, is a business management concept. An "engaged employee" is one who is fully involved in, and enthusiastic about their work, and thus will act in a way that furthers their organization's interests. According to Scarlett Surveys, "Employee Engagement is a measurable degree of an employee's positive or negative emotional attachment to their job, colleagues and organization that profoundly influences their willingness to learn and perform is at work". With the advent of the knowledge worker and emphasis on individual talent management (stars), a term was needed to describe an individual's emotional attachment to the organization, fellow associates and the job. Thus the birth of the term "employee engagement" which is an individual emotional phenomenon whereas morale is a group emotional phenomenon of similar characteristics. In other words, employee engagement is the raw material of morale composed of 15 intrinsic and extrinsic attitudinal drivers. Actively disengaged employees erode an organization‟s bottom line, while breaking the spirits of colleagues in the process. Within the global workforce, Gallup estimates this cost to the bottom line to be more than $300 billion in lost productivity alone. In stark contrast, world-class organizations that have built a sustainable model have an engagement ratio of more than 9:1. As organizations move toward this benchmark, they greatly reduce the negative effect of actively disengaged employees while unleashing the organization‟s potential for rapid growth.

HR METRIC
HR metric refers to Human Resource Metrics. It provides a number of factors that can be measured to show how HR contributes to the business. HR is now a key role in developing and implementing corporate strategy as well as becoming a high-valued-added part of

organization.(Lawler, 2003). And HR Metrics provides a...
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