HRM – metrics
In this paper I will mention some HRM metrics that are very important for our business (night club) I need to mention that most of our work is done by night.
1 - Absence Rate
This shows how many days workers are missing. There are two aspects why this is very important. First, if employee is missing too many working days he can’t done job he must done. Secondly, this could show employees satisfaction of their work. If you like what you really like you will do as much as you can – even if you are sick.
2 – Tenure
This shows how long people are sticking in a specific department or job. When our company analyses Tenure we can see if there is needed any improvements retention efforts. This can be a jumping off point for a more complicated metric that ties into the sales department.
3 – Yield ratio
Percentage of applicants from recruitment source that make it to the next stage of the selection process. We are using this metric to be sure that we are not to strict by our requirements. Or in other words if salary and requirements are in balance.
4 - Failure rate
How many the people that we hire are a mistake? What happens to them? Track number of employees who leave voluntarily before probation or do not meet probation. After we analysis this metric we can see if there is no error in companies recruitment process. And if probation level is not too high or low.
5-Number of complaints filed per employee per period of time We are using this method to determinate employees who are in wrong places not to find the way how to fired people. We think we need to find employee different position and then we need to see other employees reaction and if there is no more complains – Well job done.
These are most important metrics for our company. We need to remember that we can’t measure everything.
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