• Employee Engagement
    2024年未来全球人力资源趋势 本博客重点介绍了 2024 年新兴的未来全球人力资源趋势。探索人力资源专业人士和企业在 2024 年保持竞争力所需采取的最具影响力的发展和战略。  人力资源世界正在经历一场巨大的变革。它是由快速发展的技术、不断变化的劳动力人口结构以及对员工福祉的重新重视所推动的。未来的工作是重塑组织吸引、管理和留住人才的方式。  这些人力资源趋势植根于创新,并受到对现代劳动力需求和愿望的更深入理解的推动,将在未来几年重新定义人力资源的角色。人力资源 (HR) 专业人员有一些令人兴奋且重要的事情需要学习和适应。     混合工作模式——工作的演变 近年来,混合工作模式已成为一个流行词。远程和混合工作的日益普及正在重新定义企业的运营方式以及员工如何履行其专业职责。  众所周知,疫情导致远程工作大幅增加。   混合工作模式是雇主期待的新解决方案。它提供的灵活性允许个人定制他们的工作时间表,以更好地适应他们的个人生活。  然而,在混合工作场所中,人力资源部的主要重点是制定政策和实践,确保员工在与同事保持联系的同时实现健康的工作与生活平衡。明确的指导方针、开放的沟通和信任的文化对于有效管理这种平衡至关重要。 混合工作模式预计将成为现代工作场所的关键部分,提供灵活性,改善工作与生活的平衡,并为人才招聘提供有吸引力的好处。尽管存在挑战,但技术和人力资源实践的快速发展将继续支持混合工作场所和远程工作的未来。人力资源专业人士和企业必须拥抱这种混合远程工作的趋势,并调整策略,在这个新的工作时代为员工创造一个既高效又充实的工作环境。 工作场所的多元化、公平性和包容性 工作场所的多元化、公平性和包容性 (DEI) 不仅仅是一个流行词,而且是 2024 年继续流行的人力资源管理新兴趋势之一。  大多数组织已经在努力建立一个多元化和包容性的工作场所,这必将帮助他们成长和成功。工作场所的包容性和多样性不仅仅是一项道德和伦理举措,它正在成为吸引、留住和聘用顶尖人才的战略举措。  在来年鼓励工作场所的多样性、公平性和包容性时,可以考虑一些建议:  确保领导者为整个组织定下正确的基调  明确制定和传达“工作场所多元化”政策,并向所有员工提供指导方针  在招聘启事、多样化的面试小组以及对代表性不足的群体的外展活动中使用公正的语言。  通过向所有员工提供多元化和包容性培训来提高意识  建立包容性的工作文化,让所有声音都得到倾听和重视  确保无论性别、种族或背景如何,薪酬和机会均等  庆祝工作场所的文化和个人行为差异  衡量 DEI 为建立工作场所多样性、公平性和包容性而采取的举措的进展情况,并在需要时实施新战略 为未来做好准备的劳动力的再培训和技能提升 员工成长和发展日益受到重视。对于任何企业的成功,关注员工的持续学习和发展非常重要。  计划投资于员工培训、导师计划以及员工技能提升和再培训机会可能是企业的最佳选择。主动为员工提供咨询并为他们的职业发展制定明确的道路至关重要。这确保他们感到受到重视并能够在组织内看到未来。  持续学习、员工技能提升和再培训将有助于员工的内部流动。这也将有助于吸引和留住员工。  另一方面,就业市场也在不断变化。为了跟上工作场所不断变化的需求,员工必须专注于技能提升和再培训。他们将需要发展新技能,获得工作领域的专业知识,并根据新的行业趋势更新知识。 为未来做好准备的劳动力的再培训和技能提升将是来年未来人力资源的主要趋势之一。它将盛行并使员工和组织取得成功。  关注员工心理健康和工作场所福祉 快乐、健康和敬业的员工队伍不仅生产力高,而且更有可能对公司保持忠诚。随着压力和抑郁的专业人士比例不断增加,公司必须优先考虑员工的身体、心理和情感健康。  2024 年最新的人力资源趋势之一是关注员工的心理健康和福祉。员工援助计划和心理健康日将很快成为常态。事实上,雇主已经开始进行公开讨论并提供咨询服务。  通过提供灵活和支持性的工作环境并让员工保持健康的工作与生活平衡,可以照顾员工的福祉。这包括提供远程工作选项、灵活的日程安排以及为团队成员提供善解人意的经理。  未来的工作将观察到雇主将重点放在旨在为员工提供良好身体健康、营养和锻炼的健康计划上。有一些组织提供健身房会员资格、瑜伽课程以及心理和身体健康应用程序,以鼓励健康的生活方式。为了衡量这些努力的影响,采用数据驱动的工具和调查来评估员工的福祉和满意度。这将持续成为 2024 年及以后最突出的人力资源趋势之一。  用于数据驱动决策的人力资源分析工具  随着技术的进步,组织正在最大限度地利用人力资源分析来进行数据驱动的决策。  人力资源分析涉及收集和分析与员工绩效、敬业度和整体福祉相关的数据。这有助于获得洞察力,从而推动各个人力资源职能部门做出更好的决策。  使用人力资源分析工具和数据驱动的人力资源是当前人力资源趋势之一,并将在 2024 年继续占据主导地位。利用数据和人力资源分析力量的组织必将拥有竞争优势。  此外,人员分析将使人力资源专业人员能够:  识别员工相关趋势 衡量现有策略的有效性 做出数据驱动的决策,从而改善员工体验和组织成功 这些先进的人力资源数据分析工具将帮助雇主更好地了解员工流动率的关键驱动因素、培训和发展计划的影响、招聘策略的有效性等等。  积极的职场文化,共创美好明天  工作场所及其文化直接影响员工体验。因此,创造积极的职场文化当然需要一种具有前瞻性的方法,对于进入劳动力市场的新一代来说更是如此。 积极和包容的工作环境可以提高员工保留率、提高生产力和公司发展。因此,创造一个积极的工作环境,让员工感到受到重视、尊重和激励非常重要。  在未来的一年里,企业将需要塑造自己的工作文化,以体现多元化和包容性的价值观,并提供卓越的员工体验(满足员工的职业成长和个人福祉)。  简而言之,通过关注“工作文化”,人力资源部门将改变公司吸引、保留和聘用公司发展和成功所必需的顶尖人才的方式。  人工智能和人力资源流程自动化——2024 年全球热门未来人力资源趋势之一  利用人工智能 (AI) 进行人力资源自动化正在改变人力资源部门的运作方式。人工智能对人力资源的主要好处是它能够简化各种人力资源流程,从而提高效率和整体效益。 预计到 2024 年,人工智能和人力资源流程自动化将实现强大的结合。人工智能将深刻影响各种人力资源流程,从招聘和人才获取到绩效管理和员工敬业度。  基于人工智能的算法现在在简历筛选和候选人入围中发挥着至关重要的作用。这大大减少了招聘过程中花费的时间和精力。此外,聊天机器人和虚拟助理对于解决候选人的疑问并帮助他们完成申请流程至关重要。他们的主要目标是提高效率并提供用户友好的体验。  通过人工智能实现各种人力资源职能的自动化还简化了日常管理任务,例如工资单、福利管理和休假审批。提高准确性、减少管理开销和快速响应时间是其中一些好处。  可以说人工智能不会取代人力资源工作,但它肯定会让人力资源专业人员在塑造未来工作方面变得更具战略性。 零工工人,混合劳动力的新方面  近年来,零工经济已成为不断发展的人力资源格局的一部分。零工工人是指那些作为独立承包商、自由职业者或顾问工作的人。  如今,他们日益成为劳动力的重要组成部分。  专家预测,来年,雇主将不得不寻找方法来容纳零工劳动力。由于越来越多的人选择独立工作,而不是全职工作,远程零工工作将成为 2024 年人力资源管理的流行趋势之一。  为了保持积极主动,雇主必须制定有效管理零工工人的策略,认识到他们在灵活性、专业知识和成本效率方面带来的价值。人力资源专业人士还应优先创建一个欢迎全职员工和零工员工的多元化工作场所。需要实施灵活的工作场所政策和人力资源技术解决方案,以满足各种就业安排。  零工经济相信将成为 2024 年最重要的人力资源趋势之一,并将继续增长。  基于云的人力资源系统——对于成长型企业来说不是奢侈品而是必需品  2024 年人力资源的主要趋势之一是越来越多地采用云人力资源系统。 快速发展的技术不断重塑工作场所。人力资源技术趋势关注组织如何利用技术将其人力资源流程和数据管理转移到云端。人力资源专业人员正在使用云人力资源系统来提高灵活性和效率,并改变他们处理人力资源职能的方式。  云人力资源系统(例如Empxtrack)使人力资源专业人员能够安全地访问、更新和分析员工数据,即使他们在远程工作或在旅途中也是如此。  Empxtrack 是领先的人力资源管理系统之一,它简化了各种人力资源操作,包括薪资、福利管理、招聘、绩效管理等。该软件以其众多的配置选项以及出色的定制和集成功能而闻名,从而映射到每个客户的独特需求要求。云人力资源软件减少了管理工作量,确保数据安全,并让人力资源部门腾出时间专注于战略业务目标。  人力资源管理系统的重要性在未来几年只会增长。每个致力于打造高效、敬业和快乐员工队伍的企业都将在 2024 年实施并继续使用人力资源管理系统。  员工体验——2024 年未来全球人力资源趋势之一  2024年,“员工体验”将成为重点关注点。员工体验,通常缩写为 EX,是指员工在公司工作时的感受和经历。它的重点是让员工的工作场所变得更加愉快、有意义和高效。  这一趋势表明,快乐且敬业的员工更有可能留在公司并提高工作效率。这反过来对员工和组织都有好处。  来年,公司将投资各种举措来改善员工体验。其中一些举措包括:  了解员工的独特需求和偏好。这包括灵活的工作安排、创造舒适的物理工作空间等等。  提供职业发展机会。最好的方法是投资于培训、指导计划和技能提升机会。  关注工作场所员工的福祉。公司将提供咨询服务、灵活的时间表,并鼓励工作与生活的平衡。  促进工作场所的开放式沟通。创建一个让员工公开讨论他们的需求和挑战的工作场所。  定期提供反馈。为员工提供建设性的反馈和正确的指导。 员工体验不仅仅是一种趋势,而且将成为 2024 年人力资源部门的首要任务。 最后的想法  人力资源管理的未来趋势让我们对未来有了令人兴奋的看法,未来工作将更加灵活、包容和数据驱动。  成功当然取决于创新、技术以及让员工感到受到重视的工作场所。因此,组织需要拥抱这些人力资源技术趋势,才能走在最前沿并妥善管理员工队伍。  了解员工的期望并正确使用技术来满足他们的需求至关重要。遵循 2024 年未来全球人力资源趋势可能会在未来几年改变人力资源部门的游戏规则。 
    Employee Engagement
    2024年02月18日
  • Employee Engagement
    How to Build Your HR Technology Stack for 2024 In the AI age, you should use HR technology to ensure seamless integration and compatibility with your overall HR strategy for 2024. These are what Beqom is aiming for. Jan.17,2024 As organizations navigate the complexities of the evolving workforce in 2024, the strategic use of technology in Human Resources (HR) has become critical. This blog explores the crucial role of HR systems to deliver on corporate objectives, automate and streamline processes, improve the employee user experience, and reduce the administrative burden on HR. We also take a look at essential criteria for HR when evaluating technology solutions and delve into the nuanced landscape of trying to rely on HR suites versus a best-of-breed approach. What is an HR tech stack? The term "HR tech stack" refers to the comprehensive suite of tools and software applications that HR professionals use to manage various aspects of human resources. Just as a chef carefully selects and organizes different ingredients and methods to create a masterpiece, HR leaders curate and integrate diverse solutions to optimize HR processes, enhance employee engagement, and contribute strategically to business success. An HR tech stack typically includes a combination of software for recruitment, onboarding, performance management, learning and development, employee engagement, compensation management, and more. These tools work synergistically to streamline HR workflows, drive efficiency, and enable data-driven decision-making. The selection of tools depends on the unique needs and objectives of the organization, reflecting its high-level philosophy for HR technology adoption. The evolution of HR tech stack in modern businesses The journey of HR tech stacks has undergone a significant evolution in tandem with the changing of the modern workplace. In the early stages, HR systems primarily focused on automating administrative tasks and maintaining employee records. However, as organizations recognized the strategic importance of HR in achieving business objectives, the HR tech stack evolved into a dynamic ecosystem designed to address complex challenges and leverage opportunities. Key phases in the evolution have included: Automation of administrative tasks Early 2000s: The initial phase saw the adoption of HR information systems (HRIS) to automate routine administrative tasks, such as payroll processing and time tracking. Basic Applicant Tracking Systems (ATS) emerged to simplify recruitment processes. Introduction of integrated suites Mid-2000s to early 2010s: Integrated HR suites gained prominence, offering a unified platform for various HR functions. These suites aimed to streamline processes and enhance data consistency by providing a centralized platform for HR activities. Focus on employee experience and engagement Late 2010s: With the increasing emphasis on the employee experience, HR tech stacks expanded to include tools for talent management (recruiting, onboarding, learning, etc.), compensation and benefits, performance management, and employee engagement. Mobile applications and self-service portals became integral to fostering a positive workplace culture. Rise of specialized best-of-breed solutions Present day: The current phase witnesses a shift towards specialized best-of-breed software. Businesses are recognizing the value of choosing tools that excel in specific HR functions, providing depth and flexibility in their HR tech stacks, while delivering an improved employee experience. Significance of the evolution The evolution of HR tech stacks mirrors the broader transformation in HR's role—from a predominantly administrative function to a strategic partner driving company success. Modern HR tech stacks are not just about automation; they represent a strategic investment in technologies that empower HR professionals to make informed decisions, enhance employee engagement, and contribute meaningfully to achieving business objectives. Crafting a high-level philosophy for HR technology As organizations embark on the journey of leveraging technology in their Human Resources (HR) functions in 2024, it's helpful first to establish a high-level philosophy to guide your choices. As with most business decisions, it’s best to start with the "why" and articulate the overarching goals HR seeks to achieve for the company. Aim for strategic alignment Why do it? Your high-level systems philosophy must align seamlessly with the organization's overall strategic objectives. HR digital solutions should not be implemented in isolation but as a strategic enabler, contributing to the achievement of broader business goals like diversity, profit margin, market share, and so on. How to do it. HR leaders should collaboratively engage with organizational leadership to understand key business objectives and challenges. The technology philosophy should then be crafted to align with and support these goals. Enhance the employee experience Why do it? A key focus of HR technology should be on enhancing the overall employee experience. By delivering value to employees, providing user-friendly interfaces, fostering collaboration, and enabling self-service capabilities, HR can create an environment where employees thrive. How to do it. Conducting regular employee feedback surveys, analyzing pain points in HR processes, and understanding employee needs will inform the technology approach. The goal is to implement solutions that make work more meaningful and enjoyable for employees. Drive efficiency and agility Why do it? HR technology should be a catalyst for operational efficiency and agility. By automating repetitive tasks, streamlining workflows, and providing real-time insights, HR contributes to the organization's ability to adapt swiftly to changing market dynamics. How to do it. Assessing current HR processes, identifying bottlenecks, and evaluating the capability and adaptability of existing systems will guide the decision-making process. The aim is to implement an HR platform that not only addresses current needs but also scales as the organization evolves. Enable data-driven decision-making Why do it? A high-level philosophy should emphasize the importance of leveraging data for informed decision-making. HR technology should provide the tools and analytics necessary to transform raw data into actionable insights, empowering HR professionals to make strategic decisions. How to do it. Assessing the company's data maturity, identifying critical HR metrics, and understanding the capabilities of offerings in the market to support strategic decision-making at all levels will guide the choice of technology that aligns with this philosophy. Cultivate a culture of continuous improvement Why do it? The philosophy behind HR technology should embrace a culture of continuous improvement. Solutions should not be static but evolve to meet changing organizational needs, staying abreast of industry trends and workplace regulations, and driving innovation. How to do it. Regularly evaluating the effectiveness of existing technology, staying informed about emerging HR tech trends, and fostering a culture of innovation within the HR team contribute to a philosophy that embraces ongoing improvement. In essence, the high-level philosophy behind the HR tech stack should be a strategic roadmap, guiding the business towards success. It is the articulation of what HR aims to achieve and why technology is a critical enabler in achieving those objectives. Crafting this philosophy involves aligning with corporate goals, prioritizing employees, driving efficiency and agility, leveraging data, and fostering a culture of continuous improvement. As companies embark on the transformative journey of HR technology adoption, a well-defined and thoughtfully considered high-level philosophy will serve as the North Star, ensuring that technology becomes a powerful ally in achieving organizational excellence. The growing importance of technology in HR As Josh Bersin has framed it, we are now entering a post industrial economy. The industrial revolution over the last 150 years has created massive amounts of automation and productivity-enhancing advancements. The result is that employees no longer are just replaceable commodities, needed for menial tasks. They are more skilled and specialized than ever before, and that trend is only going to continue with the blossoming of artificial intelligence. Now, says Bersin, “every company is in the people business.”  HR is more important than ever, and the HR tech stack plays a key role in shaping today’s high performing organization in many ways, including: Efficiency and productivity In the fast-paced business environment of 2024, efficiency is key. Technology enables HR professionals to automate repetitive tasks and streamline complex processes. Whether in recruiting (resume screening, scheduling interviews, managing employee records), compensation (salary planning, merit increases, pay equity) or performance management (goal-setting, collecting feedback, performance reviews)—to name a few examples—the use of technology not only saves time but also allows HR teams to focus on strategic initiatives that contribute to the overall productivity of the organization. Data-driven decision-making Technology provides HR with tools to collect, analyze, and interpret data, and to make predictions. This data-driven approach enables HR professionals to make informed decisions regarding talent acquisition, employee engagement, compensation strategy, and workforce planning. Harnessing the power of workforce analytics can lead to more effective strategies and better outcomes for the business. Remote work and collaboration With the rise of remote work, HR technology facilitates seamless collaboration between dispersed teams. Virtual onboarding processes, digital communication tools, feedback platforms, self-service tools, and remotely administered systems are among the essential components that enable HR to adapt to the changing dynamics of the modern workplace. Impact of technology on different areas of HR Virtually every aspect of HR can be improved and accelerated through the use of digital solutions. It is up to HR leaders to determine what areas can have the most impact on the organization’s success and prioritize accordingly. Recruitment and talent acquisition Technology streamlines the recruitment process by leveraging artificial intelligence (AI) for resume screening and predictive analytics for identifying top talent. Applicant Tracking Systems (ATS) automate the hiring pipeline, reducing time-to-fill and ensuring a more efficient recruitment process. Learning and development HR software facilitates personalized learning experiences through e-learning platforms and Learning Management Systems (LMS). This not only enhances employee skills but also ensures that training programs align with organizational goals and industry trends. Compensation management and pay equity Technology can play a pivotal role in transforming compensation management, which is a critical core function. These solutions empower HR professionals to create transparent pay structures, conduct market analysis, design flexible compensation strategies, support data-driven pay decisions at all levels, and administer rewards efficiently. Advanced pay equity tools can ensure ongoing fair pay and legal compliance. Collaboration and coaching Integrated collaboration platforms facilitate seamless communication among dispersed teams, enhancing the employee experience and contributing to increased productivity. Support for manager coaching takes collaboration one step further and aids in employee-manager alignment. Goal-setting and tracking Software provides automation for setting and tracking individual and team goals, speeding up the cascading of high level goals throughout the organization, fostering real-time evaluation and progress tracking, and promoting a more dynamic performance management process. Continuous feedback and recognition Automated feedback and recognition tools contribute to a positive workplace culture by ensuring timely acknowledgment of employee achievements, fostering a sense of appreciation and motivation, as well as supporting continuous improvement. 360-degree feedback Performance management tools enable the automation of 360-degree feedback processes, providing a holistic view of employee performance from various perspectives within the enterprise. Performance appraisal and calibration Automation in performance appraisal processes, including calibration features, ensures consistency and fairness in evaluating employee performance across the organization, and saves enormous amounts of time. Impact on the business, employees, and HR staff HR technology has something to benefit everyone in the organization. Business impact Implementing HR technology positively affects the bottom line. Improved efficiency, better talent management, and data-driven decision-making contribute to overall business success. The adaptability of HR tech to changing market demands ensures that businesses stay competitive and agile, and attract and retain needed talent. Employee experience From recruitment to retirement, HR technology enhances the employee experience. Self-service portals, mobile applications, and digital communication tools empower employees, providing them with the tools they need to thrive in the workplace. This, in turn, contributes to a positive workplace culture, motivation, productivity, and loyalty. HR department and staff HR professionals benefit from technology by automating administrative tasks, allowing them to focus on strategic HR functions. Access to real-time data also equips HR staff with the insights needed to make informed decisions. This shift from transactional to strategic roles enhances the value HR brings to the organization. Risks of not embracing technology in HR Conversely, failure to keep up with the advances in HR technology can put your company at a competitive disadvantage. Organizations that fail to embrace HR digital solutions risk falling behind competitors who leverage these tools for strategic advantage. The ability to attract and retain top talent often hinges on the adoption of modern HR practices and technology. Employees want to work for a company with efficient processes, and increasingly, for companies that practice transparency and workplace equity. Manual processes are prone to errors and inefficiencies, both of which are costly. Without the aid of technology, HR departments may struggle with accuracy in record-keeping, compliance issues, and inefficient workflows, hindering the overall effectiveness of HR operations. Building a tech stack for HR So how to best approach technology adoption for HR? Assess organizational needs. Before implementing an HR solution, HR executives should conduct a thorough assessment of the organization's needs. Understanding specific pain points, goals, and desired outcomes is essential for choosing the right solutions. What are the company’s objectives and what would be needed to accomplish them? Identify critical areas. These are areas where you can gain the most strategic benefit, and where you therefore do not want to compromise on functionality. What is mission critical, what is core to realizing your strategy and achieving your goals? In other words, what is most worthy of investment? Consider integration and scalability. A well-rounded tech stack should be easily integrable with existing systems and scalable to accommodate future growth. Seamless integration ensures data consistency and avoids silos, while scalability future-proofs the technology against evolving organizational needs. Criteria for evaluating HR technology solutions Here are some key areas to consider when evaluating technology solutions. Functional coverage First and foremost, technology solutions should be able to do what you need done. You should not have to compromise on your strategy to conform to system limitations. If a solution cannot really handle your needs, scan the market to see if there is an alternative that is a better fit for your needs. Integration capabilities Seamless integration with existing systems is crucial for data consistency and efficient workflows. HR professionals should prioritize technology solutions that support interoperability. Scalability and global compatibility Large organizations must choose solutions that are scalable to accommodate their size and adaptable to meet global complexities and diverse compliance requirements. Global compatibility supports consistency in HR practices across different regions. User experience and accessibility A user-friendly interface and accessibility across devices are critical considerations. HR technology should be intuitive for users globally, promoting widespread adoption and engagement. And remember that part of the user experience is delivering real value to the end users. Data security and compliance Given the sensitivity of HR data, security features and compliance with data protection regulations should be paramount. Robust security measures safeguard against data breaches and ensure confidentiality. Vendor expertise and support Every solution has people behind it who create, implement, update, and support it. Even the most intuitive systems need support to keep the technology improving and advancing, look for expertise and a commitment to innovation. Comparing HR suites and best-of-breed solutions It is often tempting to try to rely on your core HR suite to handle most or all of your HR software needs. However, the benefit of a single source supplier is limited compared to the possible benefits of a best-of-breed approach. Limitations of HR suites Some of the common problems encountered when trying to stretch an HR suite to cover every need include: Lack of specialization. Comprehensive HR suites often provide a generalist approach, attempting to cover a broad spectrum of HR functions. While this may be suitable for some organizations, it can result in a lack of depth for specialized functions like compensation management and performance management. Slower innovation. The sheer size and complexity of comprehensive suites can sometimes lead to slower adaptation to emerging technologies and industry trends. The bureaucratic processes involved may hinder the swift integration of innovative solutions that could benefit the organization. Complex implementation. Implementing extensive HR suites can be intricate and resource-intensive, requiring substantial time and effort. The complexity of these systems may lead to challenges in user adoption and ongoing maintenance. Advantages of a best-of-breed HR tech approach What is driving companies to seek best-of-breed solutions within their HR tech stack? Some reasons include: Specialization. Best-of-breed solutions excel in specific HR functions, providing advanced features and customization options tailored to the organization's unique needs. This specialization ensures that each component of the HR tech stack is functionally rich and optimized for maximum efficiency. Faster innovation. Specialized providers often innovate more rapidly, adapting to industry trends and technological advancements with agility. This proactive approach allows organizations to stay at the forefront of HR technology, driving continuous improvement. Flexibility and integration. Best-of-breed solutions offer flexibility and can be seamlessly integrated with other systems. This allows organizations to build a tailored tech stack that aligns precisely with their requirements, avoiding the constraints of a one-size-fits-all solution. A best-of-breed HR technology success story One large multinational bank was facing an increasingly complex and competitive landscape including new non-traditional players, increasing regulation, artificial intelligence, and automation. These challenges made it crucial for them to attract, retain, and leverage their human capital to its fullest potential. They wanted to give employees and line managers a uniform and engaging experience, and establish a culture of continuous improvement, and so were seeking best of breed solutions for key HR processes to complement their core SAP HCM solution. beqom enabled crowdsourced real-time continuous feedback, regular check-ins, and agile goal setting, supporting managers in providing timely and helpful coaching. With pulse surveys, structured 360 feedback and insightful analytics, the solution measures the entire employee experience at every touchpoint. With beqom they can align personalized rewards with real-time performance data, as well as with feedback, skills, behavior, and goals, to provide meaningful and effective rewards. The bank was able to consolidate all compensation processes, including salary and promotion increases, short and long-term incentives, and cash awards, across more than 30 countries. And, their compensation budget can be continuously monitored as performance ratings are submitted and their cost impact calculated. All in all, it’s a real success story that shows the power of HR technology to transform an organization. Moving forward with your HR technology stack In today’s dynamic workplace, technology solutions will play a pivotal role in empowering HR professionals to deliver value for the organization. To find out how best-of-breed solutions can transform your HR processes and help you build a high-performing organization, take a positive first step and contact us at beqom. SOURCE Beqom
    Employee Engagement
    2024年01月17日
  • Employee Engagement
    Josh Bersin:2024: The Year That Changes Business Forever (Podcast) The podcast "2024: The Year That Changes Business Forever" by Josh Bersin explores anticipated transformations in business by 2024. It highlights the impact of AI, labor shortages, and evolving organizational structures. The podcast delves into the 2023 economic performance, changes in employee engagement, and the necessity for businesses to adapt strategically. It emphasizes a shift towards dynamic, flatter organizations and the critical role of systemic HR practices in shaping future business landscapes. Josh Bersin探讨了2024年企业预期的转型。这些转型由AI的应用、劳动力短缺和组织结构的变化驱动。播客讨论了2023年的经济表现、员工参与度的变化以及企业为应对未来挑战所需的适应策略。它强调了向动态、扁平化组织的转变和系统性人力资源实践在塑造未来商业环境中的重要作用。 In this podcast I recap 2023 and discuss the big stories for 2024, and to me this year is a tipping point that changes business forever. Why do I say this? Because we’re entering a world of labor shortages, redesign of our companies, and business transformation driven by AI. We’ll look back on 2024 and realize it was a very pivotal year. (Note: In mid-January we’re going to be publishing our detailed predictions report. This article is an edited transcript of this week’s podcast, so it reads like a conversation.) Podcast Begins: Interestingly, the entire year 2023 people were worried about a recession and it didn’t happen. In fact, economically and financially, we had a very strong year. Inflation in the United States and around the world went down. We did have to suffer rising interest rates, and that was a shock, but it was long overdue. I really think the problem we experienced is we had low interest rates for far too long, encouraging speculative investment. Now that the economy is more rational, consumer demand is high, the business environment is solid, and the stock market is performing well. The Nasdaq is almost at an all time high, the seven super stocks did extremely well: the big tech companies, the big retailers, the oil companies, many of the consumer luxury goods companies did extremely well. And the only companies that didn’t do well were the companies that couldn’t make it through the transformation that’s going on. On the cultural front we had the Supreme Court overturning affirmative action in education, which led to a political backlash on diversity and inclusion. The woke mind virus by Elon Musk and similar discussions further pushed back DEI programs, which has made chief diversity officers life difficult. We’re living through two wars, which have been very significant for many companies. I know a lot of you have closed down operations in Russia, and anybody doing business in Israel is having a tough time. And we’ve had this continuous period where every piece of data about employee engagement shows that employees are burned out, tired, stressed. They feel that they’re overworked. Despite this employee sentiment, wages went up by over 5% and people who changed jobs saw raise wages of 8% or more. The unemployment rate is very low so there are a lot of jobs. You could ask yourself, why are people stressed? I think it’s a continued overhang of the pandemic: the remote work challenges, the complexities and inconsistencies in hybrid work. And something else: the younger part of the workforce, those who are going to be living a lot longer than people who are baby boomers, are basically saying I don’t really want to kill myself just to get ahead. I want to have a life. I want to quietly quit. If my company don’t take care of me, I’m going to work my wage, meaning I’m going to work as hard as I’m paid, no more than that. And that mentality has created an environment for the four-day work week, which I think is coming quicker than you realize. And unions, which are politically in favor, are rising at an all time increase in about 25, 30 years. Inflation and the need to raise wages to attract talent leads to pay equity problems. This domain is more complex than you think. You can read about it in our research and in 2024 it belongs on your list. 2024 will also see enormous demand for career reinvention, career development, growth programs, coaching, mentorship, allyship and support amongst the younger part of the workforce. And that means that if you’re in retail, healthcare, hospitality, or one of the other industries that hires younger people you have to accommodate this tremendous demand for benefits. These are things that became very clear in 2023. But let’s talk about the elephant in the room:  the biggest thing that happened in 2023 was AI. AI has transformed the conversations we have about everything from media to publishing to HR technology to recruiting to employee development to employee experience. As you probably know, I’m very high on AI. I think it’s going to have a huge transformational effect on our companies, our jobs, our careers, and our personal lives. AI will improve our health, our ability to learn, the way we consume news (note that the NYT just sued OpenAI and Microsoft for copyright infringement). Almost every part of our life will be transformed by AI. I know from our conversations that most of you are trying to understand it and see where it fits. And many of you have been told by your CEO, “we need an AI strategy for the company as well as in HR.” And the AI strategy in HR is one thing, but the bigger topic is the rest of the company. So HR is going to have to be a part of this transformation: the new roles, jobs, rewards, and skills we need. This year I’m very excited that we introduced Galileo™, which about 500 or so of you have been using. We’re going to launch the corporate version for everybody in the corporate membership in February, so corporate members stay tuned (or join). Galileo brings AI to HR in an easy-to-use, safe, and high-value way, so it will help you get your strategy together. It’s basically ready to go. Then later in the year we’ll launch a version to the JBA community and more. AI, despite all the fear-mongering, is already a very positive technology. Where are we going next? Well as the title of this article states, I think this is the year that changes business forever. And I’m not trying to be hyperbolic, I really see a tipping point. Let me give you the story. For about a decade I’ve been writing about the flattening of organizations, breaking down of hierarchies, creating what I used to call the networked organization. And this is now mainstream and we’ve decided to call it the Dynamic Organization. And what we mean by this, as you read about in the Dynamic Organization research or in the Post-Industrial Age study, is that the functional hierarchies of jobs, careers, organizations and companies are being broken down for really good reasons. The reason we have functional hierarchies, job levels and siloed business functions is because they’re patterned after the industrial age when companies made money by selling products and services at scale. The automobile industry, the oil and gas industry, the manufacturing industries, the CPG industries, even the pharmaceutical companies are essentially building things, bringing them to market, launching them, selling them, and distributing them in a linear chain. And that “scalable industrial business model” is how we designed our organizations. So we built large organizations for R&D, large organizations for product management and product design and packaging, large organizations for marketing, large organizations for sales, large organizations for business development and distribution, supply chain, and so on (including Finance and HR). And all these ten or fifteen business functions had their own hierarchies. So you, as an employee, worked your way up those hierarchies. When I graduated from college in 1978 as an engineer, I went into one of those hierarchies. For each employee you were an engineer, a salesperson, a marketing manager, or whatever and you worked your way up the pyramid. And at some point in your career you crossed over and did other things, but that was fairly unusual. That wasn’t really the career path. You worked about 35-40 years in that profession and then you retired. And a lot of companies had another construct: management and labor. Management decided “what to do” and labor “did it.” And all of these designs helped us build most of the HR practices we use today, including hiring, pay, performance management, succession, career management, goal setting, leadership development, and on and on. Today, if you look at how the most valued companies in the world, they don’t operate this way any more. Why? Because it slows them down like molasses. If you have to traverse a functional hierarchy to come up with a new idea it takes months or years to create something new. Today value is created through innovation, time to market, closeness to customers, and unique and high-value offerings. The “hierarchy” wasn’t designed for this at all. Here are a few dogmas to consider. We used to think that all new ideas come out of R&D. That’s crazy. Of course R&D is important, but some of the most innovative companies in the world don’t even have R&D departments, they have product teams. The Research Department at Microsoft didn’t even invent AI, the company had to partner with OpenAI, a company that has less than a thousand employees. Here’s another one to consider. Deloitte consultants used to talk about “innovation at the edge,” otherwise known as “skunk works.” We used to advise clients to “separate the new ideas from the scale business” so they new ideas don’t get crushed or ignored. Well today all the new ideas come from the operating businesses, and we iterate in a real-time way. So there’s another industrial organization structure that just no longer applies. So what we’ve been going through in the dynamic organization, and we’ve studied this in detail, is that we’ve got to design our companies to be flatter. We’ve got to simplify the job titles and descriptions so people can move around. We have to organize people into cross functional teams, we have to motivate and train people to work across the functional  silos. We have to build agile working groups, we have to redo performance management around teams and projects, not around individual goals and cascading goals. We need to build pay equity into the system so you’re paid fairly regardless of where you started. Let’s talk about pay. One of the problems with the hierarchy is you get a raise every year based on your performance appraisal. And after a few years your pay may have been quite a bit different than somebody sitting next to you simply because of your appraisals. But you may not be delivering any more than them. That wasn’t fair. If you came into the company with a background in marketing, you made less money than somebody who came into the company with a background in engineering. But five years later you might be doing the same stuff but making different amounts of money. And then there’s gender bias, age bias, and other non-performance factors. In a “skills meritocracy,” as we call it, pay equity has to get fixed. We’ve got to have developmental careers and talent marketplaces and open job opportunities and mentoring for people. And these people practices are the facilitation of becoming more dynamic. And the problem of not being dynamic is what happened at Salesforce, Meta, and other tech companies last year. Salesforce hired thousands of salespeople during the last upcycle after the pandemic, and then a year later laid most of them off. Meta did the same thing. Google’s probably next. These companies, operating in the industrial mindset, thought that the only way to grow is to hire more salespeople, more engineers, or more marketing folks. But the quantity of people in one of these business functions doesn’t necessarily drive growth and profitability. What matters is how they work together and what they do, not how many of them there are. This old idea that we’re going to grow the company by hiring, hiring, hiring is gone. It doesn’t work anymore. It’s still a part of the growth part of the company, you’re always hiring to replace people, to bring new skills, et cetera, and to bring new perspectives. But in a dynamic organization, a lot of the growth comes from within. People grow too. Even the word growth mindset has become overused. We need to have an organizational growth mindset so that we can grow as an organization. A great example of this is Intel. Intel lost their way in the manufacturing of semiconductors and also in the R&D. Now they’re reinventing themselves internally and their stock is skyrocketing. They didn’t hire some guru to tell them what to do, they know what to do. They just need to get around to doing it. Google has more AI engineers than OpenAI, Anthropic, and all the other little guys put together, but they didn’t execute well. Now they’re executing better. They brought their AI teams together into cross-functional groups and they’re sharing IP from YouTube with other business areas. I bet they stomp many of the others in AI once they get it going. That’s part of being a dynamic organization. You as HR people know better than anybody how dysfunctional it is when there are multiple groups in the company doing competing things and they’re not working together because they don’t know about each other, or they don’t talk to each other. There’s no cross fertilization or they’re protecting their turf. All of these are the things that get in the way of being a dynamic organization. And the reason it’s relevant in the next year is this has taken hold. Things like talent marketplaces and career pathways and skills-based organizations, skills based hiring, skills based pay, skills based careers, skills based development, et cetera…  these are not just HR fads, they’re solutions to this big shift: making companies more dynamic. Despite their value in the past, hierarchical stove-piped companies don’t operate very well anymore. Now this isn’t an A-B switch type of thing. This is an evolution, but it’s taking place very quickly. And the reason we came up with this concept of Systemic HR is we in HR have to do the same thing. The HR function itself operates in silos. We’ve got the recruiting group, the DEI group, the Comp group, the L&D group, the business partners, the group that does compliance, the group that worries about wellbeing. We’ve got somebody over here is doing an EX project, somebody over there is doing a data management project, a people analytics group. Okay. Those are all great functional areas that belong in HR. But if they’re not working together on the problems that the company has, and I mean the big problems, growth, profitability, productivity, M&A, etc., then who cares? Then you’re at level one or level two in systemic HR. We built the Systemic HR initiative around business problems. And that’s how we came up with the new HR operating model (read more details here or view the video overview). I think Systemic HR will be a very big deal for 2024, and there are many reasons. Not only are we living in a labor shortage but there’s another accelerant, and that is AI. For those of you that have used Galileo, and I hope you all get a chance to use it this year, it’s absolutely unbelievable how AI can pull together information, data, text from many sources in the company and make sense of what your company is doing. You know as well as I do, if you’ve worked in sales, if you’ve worked in marketing, if you worked in finance, these are siloed groups. Few companies have a truly integrated data management system for all of their customer data match to their sales, data match to their revenue, data match to their marketing.  Customer data platforms are a idea, but it doesn’t really happen very often, and it takes tens to hundreds of millions of dollars and many, many systems to do that. Well, AI does this almost automatically. So when you pull together a tool like Galileo, and you use our research as part of the corpus, and you add data about employee turnover, for example, in your company, or pay variations, you’ll see the relationship between pay and turnover just by asking a question. You don’t have to go spend months doing an analysis and trying to figure out if the analysis is any good. And that’s happening all over the company in sales and customer service and R&D and marketing – everywhere. So this more integrated, dynamic organization is happening before your eyes. In 2024, this is the context for almost everything we’re going to be working on now. The other context is the labor market, which is going to be very tough. You’ve read about from us and others about how tight the labor market is now. Unemployment in the United States is 3.8%, and it’s not going to get much better. Even if we do have a recession, which is questionable, there aren’t enough people to hire. The fertility rate is low, and even if every company gives employees fertility benefits and they all have babies, it will take twenty years for these people to go to work. So all of the developed countries: US, UK, Canada, Germany, Japan, the Nordics, China, Russia, the fertility rate has been low for a long time. The World Bank sees working population shrinking within ten years in almost every developed economy. Since hiring is going to get harder and we’ll see fewer and fewer working people, companies have to be much more integrated in hiring. And we all have to look the Four R’s: Recruit, Retain, Reskill, Redesign. This puts HR in the middle of a lot of job redesign, career reinvention, and a serious look at developing skills, not hiring skills, and using the tools we have as hr professionals to help the organization improve productivity without just hiring and hiring and hiring. I measure the success of companies by two things. One is their endurance: how well have they fared over ups and downs? The second is their revenue per employee. Companies with low revenues per employee tend to be poorly managed companies relative to their peers. Of course there’s a lot of industry differences. When we went through our GWI industry work: healthcare, consumer goods, pharma, banking, we could see the high performing companies were very efficient on a headcount basis. And we found out these companies are actually implementing Systemic HR practices. The other driver that we’re living in a service economy. Interestingly enough, in the United States, more than 70% of our GDP is now services. So the people you have, the humans in your company, are the product. And if you’re not getting good output per dollar of revenue per human, you’re not running the company very well. And this leads to many management topics. How are we going to build early and mid-level leaders? How can we rethink what employees really need? The topics of employee engagement and employee experience are really 25 to 30 years old. They need a massive update. How are we going to implement AI in L&D and replace a lot of these old systems that everybody kind of hates, but we’re stuck with? What’s going on with the ERP vendors and what role will they play as we replace our HR tech with AI powered systems? How will we implement scalable talent intelligence? In a world of labor shortages talent intelligence becomes even more important, whether you think of it for sourcing and recruiting or an internal mobility or just a strategic planning initiative. How do we all get comfortable with AI? And then there’s this issue of Systemic HR and developing your team, your function, your operating model to be more adaptive and more dynamic. So I look back on 2023 I feel it was one of the most fascinating and fun and enriching years that I’ve had. I am always amazed and impressed and energized by you, by you guys who were out there on the firing lines, dealing with these complex issues and companies with old technologies and all sorts of changes going on and how you’re adapting. I continue to be more impressed and more excited about the HR profession every year. I think a lot of people who aren’t in HR think we do a lot of compliance and administration stuff and we fire people. That is the tiniest part of what we do. 2024 is going to be an important year. You as an HR professional are going to have to learn a lot of things. You’re going to learn about Systemic HR issues, you’re going to learn about AI, and you’re going to learn to be a consultant. There’s no question in my mind that over the next decade or two dynamic organization management is going to become a bigger and bigger issue – how we manage people and companies. And I don’t mean manage like supervise, I mean develop, move, retain, pay, et cetera, culture, all of those things. I leave 2023 very energized about what’s to come with AI. And if you’re afraid of AI, just take a deep breath and relax. It’s not going to bite you. There’s nothing evil here. It’s a data driven system. If you don’t have your data act together, you’re not going to get a lot of good value out of AI. I talked to Donna Morris at Walmart last week; I talked to Nickle LaMoreaux at IBM; and I talked with the senior HR leaders at Microsoft. They’re all seeing huge returns on investment from the early implementations, and seeing hundreds of use cases. We’re going to have a lot of new tools and lots of vendor shakeout. (Check out what SAP is up to and where Workday is going.) Stay tuned for our big Predictions report coming out in mid January. That report is my chance to give you some deep perspectives on where I think things are going, recap things that have happened over the last couple of years, and give you some perspectives for the year ahead. As always we would be more than happy to walk through these things with your team. I hope you have a really nice holiday season and you take a deep breath. The world is never perfect. It’s never been perfect. It wasn’t perfect in the past. It won’t be perfect in the future. But the environment you live in and the environment that you create can be enriching, enjoyable, productive, and healthy, and fun if you decide. And I think we all have the opportunity to make those decisions. It has been a pleasure and an honor for me to serve and work with you this last year, and I’m really looking forward to an amazing 2024 together. –END OF PODCAST– Irresistible: The Seven Secrets of the World’s Most Enduring, Employee-Focused Organizations  
    Employee Engagement
    2023年12月30日
  • Employee Engagement
    12 Opportunities for HR in 2024: From Support Function to Strategic Partner This decade has been uniquely challenging to business with economic uncertainty, geopolitical tension, and the aftermath of the largest global pandemic for a century. But in the coming years, disruptions are likely to increase in frequency and severity (1). The business environment is increasingly volatile, uncertain, complex, and often ambiguous (2). Coupled with rapid advances in technology, organisations are transforming at an unprecedented pace and frequency – from ‘episodic transformation’ toward ‘continuous transformation’ (3). At the same time, companies are confronted with a series of organisational shifts that have significant implications for structures, processes, and people. These include complex questions around finding the optimal balance between in-person and remote work, building new organisational capabilities in the face of challenging workforce demographics and talent gaps, and focusing on developing a healthy, inclusive, and thriving company culture (4). HR is the CEO's right-hand in enlightened organisations. (Barbara Lavernos , Deputy CEO at L'Oreal (5) HR’s journey from support function to strategic partner has accelerated in recent years. During the pandemic, the CHRO and the HR function became as important to the company as the CFO and the finance function were in the global financial crisis (6). The importance of the CHRO and the function they lead will likely continue as many of the most significant challenges facing organisations (see FIG 1) essentially have people elements at their core. The ability of CHROs to assume new responsibilities, drive transformation for the enterprise, and reinvent and upskill the HR function, and therefore meet these higher expectations, will be critical to organisational success (7, 8). CHROs have the ability to drive a company’s growth and business outcomes by effectively using people strategy, data insights, and technology to the company’s advantage. Chuck Robbins, Chair and CEO at Cisco (9) FIG 1: For over a decade, I’ve published an annual set of predictions or trends that will shape work and HR for the upcoming year. For 2024, I want to frame these instead as ‘opportunities’ rather than ‘predictions’ – mainly because they will likely take more than a single year to play out. They are informed by the research and work we do at Insight222, interviews with guests on the Digital HR Leaders podcast, conversations with senior HR leaders, thinkers, and industry analysts, and market analysis. References are numbered throughout, and a comprehensive list is included at the end of the article. Get involved – what should opportunities #11 and #12 be? Readers may note that the title and accompanying image indicate 12 opportunities, whereas only ten are outlined. That is because – as was the case in the previous three years - I’m keen to crowdsource the final two opportunities from readers. What other opportunities should be included? Please let me know in the comments section below, and I’ll add my favourite two to an updated version in the New Year. THE 2024 OPPORTUNITIES FOR HR The first ten opportunities for HR to accelerate its journey from support function to strategic partner are set out below: 1. Prove the value of a fairer, healthier, and more humane organisation One of HR’s key responsibilities as the steward of people and culture in the organisation (10) is to advocate for a ‘people, first’ approach. With record levels of burnout (11, 12, 13), deepening skills shortages (14), and raised employee expectations about work (15), HR has a pivotal role to play not only in hiring, developing, and retaining great talent, but fashioning the culture and environment to enable talent to perform and thrive. Putting wellbeing at the centre, developing an inclusive and equitable culture, personalising the employee experience, and listening and acting on the employee voice, are just four ways to deliver on this opportunity. Collectively, these initiatives are designed to reinforce the ‘H’ in HR and demonstrate that building a fairer, healthier, and more humane organisation isn’t just the ‘right thing’ to do for the workforce, but that it drives business success too (16). Indeed, research by firms including McKinsey, BCG and PwC (see FIG 2) finds that companies that provide a clear people advantage, who consistently invest in building and developing their human capital and imbue a compelling employee value proposition and experience are more resilient and enjoy better financial performance than their peers (17, 18, 19). FIG 2: 2. Prepare the organisation and HR for the age of AI While the hyperbole about generative AI has deepened HR’s engagement with AI (20, 21), research from Gartner finds that only 22% of HR leaders are highly engaged in enterprise-wide discussions on the topic (22). HR should seek to play a leading role as early studies find that AI doesn’t just boost operational performance and productivity (23) but can be used to build better organisations too (24). Four areas where HR should lobby to get involved – all while reinforcing the ‘H’ in HR - are (i) Aligning the workforce transformation that will be required due to AI in line with company strategy and vision (25). (ii) Leading on the development of responsible AI policies and enablement programs (26). (iii) Prioritising high-impact use cases for deploying AI across HR programs and the employee lifecycle (27, 28, 29, 30, FIG 3). (iv) Reimagining the work of key HR roles including the automation of repetitive tasks and increasing the focus on high-value strategic work (31, 32) (v) Building upskilling programs for leaders, managers, employees, and HR professionals. Research finds that if companies can activate the growth combination of data, technology, and people, they stand to gain a premium of up to 11% on top-line productivity. (33). AI is the defining technology of our time, creating a massive paradigm that will transform the way we work with even greater impact than the introduction of the PC Kathleen Hogan , Chief People Officer at Microsoft (34) FIG 3 3. Redesign workplaces and work for the hybrid era Since the pandemic, 90 percent of companies have embraced a range of hybrid work models (35) with most employees now working remotely over 25% of the time (36, FIG 4). Moreover, eight out of ten CHROs say they have no plans to decrease the amount of remote work in the next 12 months (37). Indeed, Nick Bloom predicts here that in the coming years remote work will experience a ‘swoosh effect’ due to the impact of technology as well as new firms and managers being more open to remote. (38, 39). The debate shouldn’t just be fixated on where people work, it should also provide an opportunity to test traditional assumptions about how work is done and whatwork even is (40). It’s likely that this transition will play out over many years (41), and will require experimentation, data collection and analysis, and iterative learning. This provides the opportunity for chief people officers – and their people analytics teams - to play a leading role in the redesign of work and workplaces for the hybrid era. Research is already being published on topics such as when in-person matters most (42, 43), how teams that are intentional about collaboration are more productive (44), and how to drive innovation through adaptive teaming (45). Hybrid is here to stay, so let’s make hybrid work! FIG 4 4. Shift people analytics from insight to impact As Isabel Naidoo, chief people officer at Wise, articulated at the Insight222 Global Executive Retreat in Colorado in September, 2023: “People Analytics is the fastest route to credibility for the chief people officer.” (46). Certainly, for HR to be a truly strategic business partner, it has to have an impactful people analytics function. Insight222's fourth annual People Analytics Trends study, (47) finds that the discipline continues to grow in importance and influence with 22% of people analytics leaders now reporting to the CHRO (compared to 13% in 2020). The challenge for many companies is to move people analytics from insight to impact (48, 49). Our research identified eight distinct characteristics (see FIG 5) that set Leading Companies apart from their peers and enable them to deliver value on a consistent basis. Chief people officers wanting to shift their people analytics team to an ‘A Team’ (see FIG 6) should focus on understanding their organisation’s most pressing business priorities and then align and prioritise people analytics activities that will support them. A capable and flourishing people analytics team eases the path towards a quantified organisation (50) and an evidence-based HR function (51) Certainly, people analytics is a foundational capability to helping HR progress and realise the opportunities outlined in this article. People Analytics is the fastest route to credibility for the chief people officer Isabel Naidoo, Chief People Officer at Wise (46) FIG 5 FIG 6 5. Partner more effectively with Finance Deploying financial capital and human capital together is the secret to the success of a talent-driven organisation (52). If HR seeks to become a truly strategic partner to the business, then it needs to have an effective partnership with finance not least because of increasing regulation about the disclosure of human capital information (53, 54). Research by Insight222 (55) finds that when it comes to delivering value with people analytics, a strong relationship with finance can make the difference. Of the 65 (out of 271 companies) surveyed who confirmed that they had built a partnership with finance, 99% reported that the people analytics team had delivered measurable outcomes over the last 12 months. In HR, we need to be better at building business cases for investment, and in quantifying the commercial value of what we do – just like other business functions. Building a strong and mutually beneficial partnership with finance – like Alan Susi at S&P Global (56) and Laura Wright Shubert at MetLife (57) have achieved – is a good place to start. 6. Build the skills-based organisation Talent gaps and shortages represent the most pressing challenge that companies face (58), with three-quarters of CEOs being concerned about how the availability of key skills will impact on their growth strategies (59). These talent scarcity challenges will only be exacerbated by shrinking working populations – especially in the G7 economies (60) and rapid advances in technology meaning that 44% of workers’ skills will be disrupted by 2028 (61). This is leading to a shift from the traditional focus on jobs to one on skills (62) and the continued rollout of internal talent marketplaces (63, 64) with one study finding that 90% of companies are moving towards a skills-based approach (65). The effort to do so should not be underestimated with the same study finding that less than 20% are currently adopting skills-based approaches to a significant extent. While it is still early days, benefits cited by companies that have made this shift include (i) Standard Chartered unlocking productivity of $2.1m from a talent marketplace pilot in India (66, 67), (ii) IBM improving diversity through skills-based hiring (68), (iii) Unilever increasing productivity by 40% and significantly reducing attrition through its internal talent marketplace (69), and (iv) J&J democratising career development and mobility for its employees (70). The undoubted potential of skills-based approaches for hiring, learning, internal mobility, compensation, and workforce planning is tantalising, but it also makes it difficult for organisations to know where to start. HR can help by identifying a challenge in a specific business function and/or location, partnering with a senior business stakeholder and piloting a skills-based approach, starting to build a skills taxonomy, and then learning and iterating as you go. As companies jostle to build a complete picture of what they need (for the future of work) and how to get there, we’re fast learning that the real currency is skills Placid Jover, Chief Talent Officer at Unilever (71) FIG 7 7. Make workforce planning strategic The shift to skills, the pace and frequency of transformation, and rapid technological advances have all increased the urgency for organisations to become proficient in strategic workforce planning. It is now a top three challenge for people leaders (see FIG 8, 72). The availability of data-driven insights is altering the landscape with responsibility for SWP increasingly coming under the auspices of the people analytics team – this is the case in 50% of companies, based on 2023 research by Insight222 (73). This is driving the expansion from a pure focus on cost and operational based workforce planning to strategic and skills-based workforce planning (74, 75), which enables organisations to get a clearer view on future talent needs and how to close any gaps (76, 77). Steps for HR leaders to do this well include (i) Linking SWP to the business strategy (78). (ii) Joint ownership of SWP with the business and close collaboration with finance. (iii) Prioritising the most critical workforce segments. (iv) Focusing on skills as well as cost. (v) Combining HR, business, and external data to get a full picture (79). (vi) Measuring the impact of workforce planning activities and linking these to business outcomes. (80, 81) FIG 8 8. Advance diversity, equity, inclusion and belonging The business case for diversity, equity, inclusion and belonging (DEIB) continues to grow stronger. In a recent McKinsey study, leadership diversity is convincingly associated with company performance, societal impact, and employee experience (82, FIG 9). Moreover, research by Insight222 found that in 2023 – for the third successive year - DEIB is the area where people analytics is adding the most business value (83). These timely reminders of the value of DEIB are important in a year where the US Supreme Court ruling on affirmative action led to some companies rolling back on their DEIB initiatives (84, 85). As such, HR leaders have a critical role to play in advancing the DEIB agenda in their organisations, demonstrating that it isn’t just the right thing to do, but that is demanded by employees and leads to better business outcomes. People analytics can help in terms of enabling the organisation to measure outcomes and drive action (86), using advanced analytics to get deeper insights on belonging and inclusion, and supporting organisational moves to be more transparent – including providing data that forms the basis of annual DEIB reports e.g. Microsoft (87). Also, with demographics meaning that 150 million jobs will shift to older workers by the end of the decade (88), HR has an opportunity to ensure that their organisation is able to attract, develop and retain older workers, and enable them to thrive. FIG 9 9. Empower and invest in people managers 75% of HR Leaders say that their managers are overwhelmed by the growth of their job responsibilities (89) while more than 50% of managers report feeling burned out (90). These concerning statistics are not surprising given that the role of the manager is being changed beyond recognition due to digitalisation, hybrid work and agile initiatives (91, 92). The pressure is exacerbated by companies cutting middle management roles in the current macroeconomic climate. Given that studies find that investing in people managers leads to better firm financial performance (93) and is key to realising the opportunities from AI (94), it’s time to better support and empower people managers. One way HR can do this is through democratising people data to help managers to be more productive, support decisions on hiring, promotion and pay, and equip them with insights to be more effective and human leaders. The benefit of successfully democratising people data to managers are vast, with one 2023 study calculating that in a 10,000 person organisation, this could amount to $400 million in cost savings, and almost $200 million in revenue expansion (95, 96). HR leaders can also support people managers through being more thoughtful about spans and layers, reimagining the role of the manager, implementing capability building programs, and prioritising manager experience and wellbeing (97). 10. Prioritise HR upskilling If HR is to become a true strategic partner to the business and realise the opportunities from new operating models (98) then chief people officers need to prioritise efforts to upskill their HR professionals – particularly on topics such as business acumen, technology, and analytics (99). At Insight222, our HR in the Digital Age study identified nine skills for the future HR professional to be more data driven, experience led, and business focused (100, 101). Additionally, our 2023 study, Upskilling the HR Professional: Building Data Literacy as Scale, highlighted the critical role of the chief people officer and their direct reports in role-modelling the use of people data and analytics (102). With another study by Mercer finding that 41% of chief people officers wish they had had greater depth in people analytics prior to assuming their roles, there is clearly significant room for improvement (103). On a more positive note, 55% of companies now say they have a data driven culture in HR, which is up from 42% in 2021. 2024 is the year to improve this further, and from a data literacy perspective, Insight222 research highlights five skills (see FIG 10) that HR professionals need to develop (104). Moreover, the study also highlights that the investment required is between $600-$800 per person for an upskilling program (see example in FIG 11). Now is the time to invest in upskilling HR professionals. FIG 10 FIG 11 References (1) Jens Stefan Baier, Vinciane Beauchene, Julie Bedard, Jean-Michel Caye, Dr. Philipp Kolo, Fang Ruan, Alexander Alonso, PhD SHRM-SCP, Anthony Ariganello, Kai H. Helfritz, Bob Morton, Chartered CCIPD, Lucas van Wees, and Wilson Wong - Creating People Advantage: Set the Right People Priorities for Challenging Times (BCG, 2023) (2) Dr. Patrick Guggenberger, Dana Maor, Michael Park, and Dr. Patrick Simon - The State of Organizations 2023: Ten shifts transforming organizations (McKinsey, 2023) (3) Kathi Enderes and Josh Bersin, The Definitive Guide to Building a Dynamic Organization (LinkedIn, 2023) (4) Guggenberger et al, see reference (2) (5) David Green, The Best HR and People Analytics articles of October 2023 featuring quote from Barbara Lavernos, Deputy CEO at L’Oreal, from UNLEASH World, Paris (LinkedIn, 2023) (6) The coronavirus crisis thrusts corporate HR chiefs into the spotlight (The Economist, 2020) (7) Jonathan Gordin, Shari Chernack, Karen Shellenback, and Yamile Bruzza, Evolving the CHRO role in a rapidly changing world of work (Mercer 2023) (8) Julie Bedard, Katie Lavoie, Renée Laverdière, Allison Bailey, Vinciane Beauchene, and Jens Stefan Baier, How Generative AI will Transform HR (BCG, 2023) (9) Ellyn Shook, Yusuf Tayob, and Laurie Henneborn, MSLIS, The CHRO as a Growth Executive (Accenture, 2023) (10) Diane Gherson, The New Deal of Work (SHRM People+Strategy, Fall edition, 2023) (11) Jacqui Brassey, PhD, MA, MAfN (née Schouten), Erica Hutchins Coe, Martin Dewhurst, Kana Enomoto, Renata Giarola, Brad Herbig, and Barbara Jeffery, Addressing employee burnout: Are you solving the right problem? (McKinsey Health Institute, 2022) (12) Kathleen Hogan, Why Leaders Can’t Ignore the Human Energy Crisis (LinkedIn, 2022) (13) Dawn Klinghoffer and Katie Kirkpatrick-Husk PhD - With Burnout on the Rise, What Can Companies Do About It? (MIT Sloan Management Review, 2023) (14) Mark Whittle and Chief Etheridge - Top 5 HR Trends and Priorities for 2024 (Gartner, 2023) (15) Gherson (see reference 10) (16) Angus Bauer, Human capital management research: how people are our greatest asset (Schroders, Saïd Business School, University of Oxford, and the California Public Employees’ Retirement System, 2023) (17) Anu Madgavkar, Bill Schaninger, Ph.D., Dana Maor, Olivia White, Sven Smit, Hamid H. S., Jonathan Woetzel, Davis Carlin, and Kanmani Chockalingam - Performance through people: Transforming human capital into competitive advantage (McKinsey Global Institute, 2023) (18) Amanda Luther, Romain de Laubier, Saibal Chakraborty, Dylan Bolden, Sylvain Duranton, Tauseef Charanya, and Patrick Forth - The New Blueprint for Corporate Performance (BCG, 2023) (19) Bastiaan Starink and Jan Willem Velthuijsen - What every HR leader needs to show the CFO (PwC, 2023) (20) Bedard et al (see reference 8) (21) Kate Bravery, Jesse Bramall, William Self, Ravin Jesuthasan, CFA, FRSA, Benjamin Hoster, and Christopher Lomas - Chief People Officer’s quick guide to generative artificial intelligence (Mercer, 2023) (22) Whittle and Etheridge (see reference 14) (23) Kathleen Hogan - What Can Copilot’s Earliest Users Teach Us About Generative AI at Work? (Microsoft Work Trends, 2023) (24) Guggenberger et al, (see reference 2) (25) Baier et al (see reference 1) (26) Guru Sethupathy and David Green ?? - How to Ensure AI in HR is Fair, Effective and Explainable (myHRfuture, 2023) (27) Bedard et al (see reference 8) (28) Baier et al (see reference 1) (29)  Whittle and Etheridge (see reference 14) (30) Andrew Marritt and David Green ?? - The Impact of GPT and Generative AI Models on People Analytics (myHRfuture, 2023) (31) Bedard et al (see reference 8) (32) Ravin Jesuthasan, CFA, FRSA, Helen White, Kate Bravery, Jason Averbook, and Todd Lambrugo – Generative AI will transform three key HR roles (Mercer, 2023) (33) Shook et al (see reference 9) (34) Kathleen Hogan - Microsoft’s Chief People Officer shares how AI will impact workers (Fast Company, 2023) (35) Guggenberger et al, (see reference 2) (36) Jose Maria Barrero, Nick Bloom, Shelby Buckman, and Steven J. Davis – SWAA December 2023 Updates (WFH Research, 2023) (37) Ben Wigert, Ph.D, MBA, Jim Harter, and Sangeeta Agrawal - The Future of the Office Has Arrived: It's Hybrid (Gallup, 2023) (38) Nicholas Bloom predicts a working-from-home Nike swoosh (The Economist, 2023) (39) Nick Bloom and David Green ?? – Unmasking Common Myths around Remote Work (Digital HR Leaders Podcast, myHRfuture, 2023) (40) Lynda Gratton – Redesigning How We Work (Harvard Business Review, 2023) (41) Dean Carter - Top 3 insights I’m hearing now from HR leaders (Guild, 2023) (42) Michael Arena - Moments that Matter: 3 Network Advantages of Being Face-to-Face (HR Exchange Network, 2023) (43) Karen Kocher and Dawn Klinghoffer - In the Changing Role of the Office, It’s All about Moments That Matter (Microsoft Work Trends, 2023) (44) Mary Baker , 4 Modes of Collaboration Are Key to Success in Hybrid Work (Gartner, 2021) (45) Michael Arena - Effective Strategies for Intentional Collaboration in the New World of Work (HR Exchange Network, 2023) (46) David Green ?? - Influencing the World of Work: Insights from The Insight222 Global Executive Retreat 2023 (myHRfuture, 2023) (47) Jonathan Ferrar, Naomi Verghese, and Heidi Binder-Matsuo - Investing to Deliver Value: A New Model for People Analytics (Insight222, 2023) (48) Thomas Hedegaard Rasmussen, Mike Ulrich, and Dave Ulrich - Moving People Analytics From Insight to Impact (Sage Journals, 2023) (49) Patrick Coolen, Sjoerd van den Heuvel, PhD, Karina Van De Voorde, and Jaap Paauwe - Understanding the adoption and institutionalization of workforce analytics: A systematic literature review and research agenda (Human Resource Management Review, 2023) (50) Arthur Mazor, Steve Hatfield, Philippe Burger, Simona Spelman, Nicole Scoble-Williams, and Robin Jones - Beyond Productivity: The journey to the quantified organization (Deloitte, 2023) (51) Rob Briner - Aligning HR with the business through the evidence-based HR process (HRD Connect, 2023) (52) Dominic Barton, Dennis Carey, and Ram Charan - An agenda for the talent-first CEO (McKinsey, 2018) (53) Dave Ulrich - Human Capability Improvement and Reporting: How to Make Dramatic Progress (LinkedIn, 2023) (54) Yves Van Durme and David Green ?? - How to Prepare Your HR Data for EU CSRD Reporting (Digital HR Leaders podcast, myHRfuture, 2023) (55) Ferrar et al (see reference 47) (56) Ferrar et al, S&P case study (see reference 47) (57) Jonathan Ferrar and David Green ?? – Excellence in People Analytics, Case study with Laura Wright Shubert of MetLife (Kogan Page, 2021) (58) Baier et al (see reference 1) (59) Navigating the rising tide of uncertainty, PwC 23rd Annual Global CEO Survey (PwC, 2020) (60) James Root, Andrew Schwedel, Mike Haslett, and Nicole Bitler Kuehnle - Better with Age: The Rising Importance of Older Workers (Bain & Company, 2023) (61) Attilio Di Battista, Sam Grayling, Elselot Hasselaar, Till Alexander Leopold, Ricky LI, Mark Rayner and Saadia Zahidi – The Future of Jobs Report 2023 (World Economic Forum, 2023) (62) Josh Bersin - Introducing The Systemic HR™ Initiative (The Josh Bersin Company, 2023) (63) Bo Cowgill, Jonathan Davis, Pablo Montagnes, Patryk Perkowski and Bettina Hammer - How to Design an Internal Talent Marketplace (Harvard Business Review, 2023) (64) Jeff Schwartz, Jeroen Wels, and David Green ?? - Navigating the Talent Marketplace of the Future (Digital HR Leaders podcast, Gloat, myHRfuture, 2023) (65) Susan Cantrell, Michael Griffiths, Robin Jones, and Julie Hiipakka - The skills-based organization: A new operating model for work and the workforce (Deloitte, 2022) (66) Tanuj Kapilashrami - Investing for a resilient and inclusive future of work (LinkedIn, 2022) (67) Tanuj Kapilashrami and David Green ?? - How Standard Chartered is Unlocking the Power of Skills in the Workplace (Digital HR Leaders podcast, myHRfuture, 2023) (68) Jane Thier - Generative AI is the major turning point in skills-first hiring, says former IBM CEO Ginni Rometty: ‘People are afraid of what their jobs are going to look like’ (Yahoo Finance, 2023) (69) Placid Jover – The Future of Work is Flexible (2023) (70) Christina Norris-Watts, Doug Shagam, and David Green ?? - How Johnson & Johnson are Scaling Their Skills-Based Approach to Talent (Digital HR Leaders podcast, myHRfuture, 2023) (71) Jover (see reference 69) (72) Baier et al (see reference 1) (73) Ferrar et al (see reference 47) (74) Alicia Roach – The Evolution of SWP (LinkedIn, 2023) (75) Simmi Mehta, Kevin Moss, and Dhruv Patel - Meet business outcomes by evolving to strategic workforce planning (Deloitte, 2023) (76) Alex Browne and David Green ?? - Nestlé's 4B Methodology to Strategic Workforce Planning (Digital HR Leaders podcast, myHRfuture, 2023) (77) Laura Wright Shubert and David Green ?? - How MetLife Made a Success of their Strategic Workforce Planning (Digital HR Leaders podcast, myHRfuture, 2022) (78) Alicia Roach and Chris Hare - How to Democratise Strategic Workforce Planning (Digital HR Leaders podcast, eQ8, myHRfuture, 2022) (79) Jeroen Van Hautte ? - How unlocking skills lies in capturing business data (TechWolf, 2023) (80) Jonathan Ferrar - How to Build a Workforce Planning Strategy that Delivers Business Value (myHRfuture, 2021) (81) Ian Bailie and Caroline Styr – A New Playbook for Workforce Planning (Insight222, 2021) (82) Dame Vivian Hunt, Sundiatu Dixon-Fyle, Celia Huber, Maria del Mar Martinez, Sara Prince, and Ashley Thomas - Diversity matters even more: The case for holistic impact (McKinsey, 2023) (83) Ferrar et al (see reference 47) (84) Paul Rubenstein - Prioritizing DEI Is the Secret to Future-Proofing Your Business (Entrepreneur, 2023) (85) Lily Zheng - How to Effectively — and Legally — Use Racial Data for DEI (Harvard Business Review, 2023) (86) Lily Zheng - To Make Lasting Progress on DEI, Measure Outcomes (Harvard Business Review, 2023) (87) Lindsay-Rae McIntyre - Microsoft’s 2023 Diversity and Inclusion Report: A decade of transparency, commitment and progress (Microsoft, 2023) (88) Root et al (see reference 60) (89) Whittle and Etheridge (see reference 14) (90) Dawn Klinghoffer and Katie Kirkpatrick-Husk PhD - More Than 50% of Managers Feel Burned Out (Harvard Business Review, 2023) (91) Diane Gherson and Lynda Gratton - Managers Can’t Do It All (Harvard Business Review, 2022) (92) Stacia Sherman Garr and Priyanka Mehrotra - What’s Holding Back Manager Effectiveness, and How to Fix It (MIT Sloan Management Review, 2023) (93) Emily Field, Bryan Hancock, Stephanie Smallets, Ph.D., and Brooke Weddle - Investing in People Managers pays off literally (McKinsey, 2023) (94) Emily Field , Bryan Hancock, Ruth Imose, PhD, and Lareina Yee - Middle managers hold the key to unlock generative AI (McKinsey, 2023) (95) Lexy Martin - Unlocking Manager Effectiveness: The Next Driver of Value (Visier, 2023) (96) Lexy Martin and David Green ?? - How to Democratise Data for People Manager Effectiveness (Digital HR Leaders podcast, myHRfuture, 2023) (97) Bill Schaninger, Ph.D., Bryan Hancock, and Emily Field – Power to the Middle: Why Managers Hold the Key to the Future of Work (Harvard Business Review Press, 2023) (98) Sandra Durth, Neel Gandhi, Asmus Komm, and Florian Pollner – HR’s new operating model (McKinsey, 2022) (99) Dave Ulrich, Joe Grochowski, Norm Smallwood, and Joseph Hanson - What Makes an Effective HR Function? (The RBL Group, 2023) (100) Manpreet Randhawa - 9 Skills HR Professionals Need to Succeed in the Digital Age (myHRfuture, 2023) (101) Caroline Styr and Ian Bailie - HR in the Digital Age (Insight222, 2021) (102) Naomi Verghese and Jonathan Ferrar - Upskilling the HR Profession: Building Data Literacy at Scale (Insight222, 2023) (103) Gordin et al (see reference 7) (104) Verghese and Ferrar (see reference 99) A selection of other 2024 HR predictions and trends There are a plethora of other resources documenting predictions and trends for HR and the future of work in 2024 including: Gartner - Top 5 HR Trends and Priorities for 2024 Visier Inc. - 10 Workforce trends for 2024: The New Rules of HR Mercer – 2024 Global Talent Trends McKinsey - What matters most? Eight CEO priorities for 2024 Ken Oehler – RADICL People Predictions for 2024 Damon Klotz and Didier Elzinga - 7 trends that will define HR in 2024 Dr. Solange Charas and Stela Lupushor - HR and Workforce Trends Predictions for 2024 Dan Schawbel - 10 Predictions for 2024 from a World-of-Work Expert Joelle Emerson - New Data: 2023 DEI Trends & 2024 Opportunities Francesca Di Meglio - 8 HR Trends for 2024 LinkedIn News - 34 Big Ideas that will change our world in 2024 __________________________________________________________________ ABOUT THE AUTHOR David Green ?? is a globally respected author, speaker, conference chair, and executive consultant on people analytics, data-driven HR and the future of work. As Managing Partner and Executive Director at Insight222, he has overall responsibility for the delivery of the Insight222 People Analytics Program, which supports the advancement of people analytics in over 90 global organisations. Prior to co-founding Insight222, David accumulated over 20 years experience in the human resources and people analytics fields, including as Global Director of People Analytics Solutions at IBM. As such, David has extensive experience in helping organisations increase value, impact and focus from the wise and ethical use of people analytics. David also hosts the Digital HR Leaders Podcast and is an instructor for Insight222's myHRfuture Academy. His book, co-authored with Jonathan Ferrar, Excellence in People Analytics: How to use Workforce Data to Create Business Value was published in the summer of 2021.
    Employee Engagement
    2023年12月14日
  • Employee Engagement
    您需要了解的 19 个最重要的人力资源指标 In the complex, ever-evolving realm of human resources, effective decision-making is anchored in data-specific insights. This underlines the significance of HR metrics, which serve as key navigational beacons in the journey of driving business success. These metrics, or key performance indicators (KPI) – do not mix them with Key Result Areas (KRA), transform abstract aspects of HR management into quantifiable data, which can be measured, analyzed, and optimized. In this review, we will navigate through the 19 most crucial HR metrics, offering HR professionals and business leaders a comprehensive understanding of these powerful analytical tools. Table of Contents Key HR Metrics Number of Employees (FTEs) Employee Turnover Rate Voluntary Turnover Rate Employee Net Promoter Score (eNPS) Employee Engagement Employee Satisfaction Employee Experience Employee Value Recruitment Metrics Time to Hire Time to Fill Cost of Hire Compensation and Benefits Metrics Salary Range Penetration Salary Averages Pay Equity Pay Gap Gender Pay Gap Talent Development Metrics Employee Growth Rate Retention Rates Employee Performance Metrics Summary At the helm of these metrics are those concerning workforce management. Metrics such as employee turnover rate, retention rate, and absenteeism rate offer profound insights into the dynamics of the workforce. These HR metrics allow teams to assess workforce stability and employee engagement, and are instrumental in highlighting areas that need remedial action, contributing to enhancing workforce efficiency and fostering a positive organizational culture. Moreover, the spectrum of HR metrics extends to illuminate performance-based aspects, using data points like productivity rate, performance score, and training effectiveness. These metrics are invaluable in tracking skill enhancement, individual and team performances, and the efficacy of training initiatives. By analyzing these HR metrics, HR Managers can optimize talent management strategies, assisting in the creation of a high-performing, competitive workforce. Another significant category involves financial aspects including compensation competitiveness ratio and the cost of hiring. By yielding a clear perspective of the financial implications of HR policies, these metrics enable organizations to ensure their reward structures are market-competitive and recruitment processes are cost-effective. Armed with these HR metrics, management can strike an optimal balance between employee satisfaction and the organization’s financial health. 19 Most Important HR Metrics To encapsulate, the knowledge and understanding of these 19 imperative HR metrics provide a robust framework for strategic decision making in HR management. Each data point, each metric acts like a compass directing towards greater business success. They bravely shine the light on areas of improvement, success, and stagnation. By intelligently utilizing these HR metrics as outlined in the HRM Guide, HR leaders stand poised to significantly augment their human resource initiatives, thereby strengthening the backbone of their organizations. The relationship between HR Metrics and HR Analytics forms a powerful synergy that fuels informed decision-making. While HR Metrics offer quantifiable indicators of HR policies’ efficiency and effectiveness, HR Analytics dives deeper, harnessing these metrics to glean crucial insights and derive data-driven conclusions. This confluence of metrics and analytics is central to enhancing the overall effectiveness of HR management, ensuring that decisions made are grounded in empirical evidence and tailored to the organization’s evolving needs. In essence, the symbiosis between HR Metrics and HR Analytics paves the way for continuous improvement and strategic foresight, standing testament to the commitment of HR teams and organizations in nurturing and safeguarding the success of their people. Key HR Metrics In the sphere of Human Resource Management, informed decision-making is the cornerstone of effective practice. It is this that underscores the quintessential value of Key HR Metrics. These quantitative indicators reflect the efficiency and effectiveness of HR policies and operations, generating valuable insights that guide business strategy. Harnessing these metrics equips HR practitioners with a robust toolkit to measure, analyze, and optimize various aspects of HR processes. Navigating this vast array of metrics, a few distinguish themselves for their impact and universality. Among these are the Employee Net Promoter Score (eNPS), Employee Turnover Rate, and several other vital measures. The eNPS, a definitive metric of employee loyalty and job satisfaction, offers a transparent lens into the internal health of an organization. On the other hand, the Employee Turnover Rate stands as an indicator of organizational stability and workforce retention capacity. Thorough exploration and seamless integration of these key metrics play a pivotal role in honing effective HR strategies. Number of Employees (FTEs) Nestled within the cascade of HR metrics, the ‘Number of Employees’ or ‘Full-Time Equivalent’ (FTE) stands out as a fundamental measure of an organization’s human capital. This metric tracks the total number of full-time employees within the organization, encapsulating the breadth of the workforce at a glance. Understood across industries, FTE refers to the number of full-time employees that could have been employed if the reported number of hours worked by part-time employees had been worked by full-time employees. While seemingly straightforward, the value derived from this key metric extends far beyond a cursory headcount. A clear understanding of the Number of Employees (FTEs) serves as a vital foundation for resource planning and analysis. It aids in assessing the organization’s growth and expansion capacity, mapping the trajectory of workforce development, and determining if current staffing levels are aligned with the business goals. It also provides a clear picture of the scale at which HR policies and procedures operate, reinforcing the significance of understanding this measure within the larger HR Analytics structure. Ultimately, the metric mirrors the size and complexity of an organization’s human resources, guiding critical decisions about recruitment, retention, and resource allocation to align with the organization’s strategic objectives. Employee Turnover Rate Among the essential HR Metrics, the Employee Turnover Rate holds significant weight as a measure of workforce stability. This crucial metric gauges the rate at which employees exit an organization within a specified time frame, reflecting the tempo of attrition. An elevated turnover rate may be a symptom of underlying issues with job satisfaction, company culture, or a disconnect between employee expectations and organizational realities. By monitoring and analyzing this metric, HR specialists and business leaders alike can glean crucial insights into the overall health and attractiveness of their workplace. Understanding the Employee Turnover Rate assists organizations in identifying areas in need of improvement and implementing targeted interventions. A high turnover rate can profoundly impact a company’s bottom line, as the loss of experienced personnel often leads to increased recruitment costs and decreased productivity. Additionally, it may negatively affect the morale of the remaining workforce, as employees witness their peers departing, potentially eroding the organization’s internal cohesion. Conversely, a low Employee Turnover Rate often speaks to a thriving and nurturing work environment where employees are content and well-supported. It signifies that the organization has been successful in fostering a positive company culture, attractive compensation packages, and opportunities for personal and professional growth. Analyzing this metric in tandem with other HR Metrics, such as Employee Retention Rate and Employee satisfaction, can provide a comprehensive and holistic picture of the employee experience within the organization. To sum up, the Employee Turnover Rate is an indispensable tool that allows HR professionals to recognize the strengths and weaknesses of their talent management strategies effectively. Pivoting their initiatives and interventions based on this data, organizations are better equipped to create a more stable, engaged, and high-performing workforce. Recognizing the immense value of this metric and taking proactive steps to address unwanted fluctuations is a testament to an organization’s commitment to its people’s success and well-being. Voluntary Turnover Rate In the sphere of human resource management, deciphering the dynamics of employee attrition is of paramount importance. Here, an essential metric that provides specific insights is the Voluntary Turnover Rate. Distinct from overall turnover, this metric zeroes in on the number of employees who willingly choose to leave the organization. By analyzing this key performance indicator, HR managers and business leaders gain valuable understanding into the effectiveness of their employee retention strategies and overall workplace health. Unveiling the reasons behind voluntary departures empowers organizations to address potential lapses in their offerings and policies. Common drivers of voluntary turnover may include a lack of career advancement opportunities, insufficient compensation, or a misalignment of personal values with the organization’s culture. Identifying such factors through the lens of the Voluntary Turnover Rate enables HR teams to proactively design and implement relevant programs, cultivating a more nurturing, engaging work environment. Moreover, tracking the Voluntary Turnover Rate in combination with other HR metrics, such as Employee Satisfaction and Employee Retention Rate, can provide a comprehensive overview of employee engagement and commitment. By addressing the issues highlighted by these interrelated metrics, organizations ensure that they maintain a content and productive workforce willing to contribute to the company’s long-term vision. The Voluntary Turnover Rate serves as an eye-opening metric for understanding an organization’s employee retention capabilities. Through skillful analysis and thoughtful response, HR departments and business leaders can utilize this metric to sharpen their talent management strategies, sustain a resilient workforce, and ultimately, fortify their organization’s foundation by fostering a committed and satisfied team of professionals. Employee Net Promoter Score (eNPS) In the multifaceted domain of human resources, the Employee Net Promoter Score (eNPS) emerges as a powerful tool to measure employee satisfaction and engagement. This metric gauges the loyalty of employees by posing a simple, yet insightful question: How likely are they to recommend the company as a place to work? Built on the premise of the Net Promoter Score concept used in customer satisfaction, the eNPS distills the essence of employee sentiment into meaningful key data points that reflect their commitment and attachment to the organization. A profound understanding of the Employee Net Promoter Score offers HR professionals and business leaders not merely a numerical score, but valuable insights into the health and vitality of their organizational culture. By monitoring the fluctuations of this pivotal metric, organizations can identify trends, recognize areas of success, and spot aspects of the work environment that might require redress and reinforcement. Furthermore, the analysis of the eNPS in conjunction with related HR metrics provides a holistic perspective on the many elements influencing employee satisfaction. For instance, evaluating eNPS alongside Employee Turnover Rate or Employee Retention Rate can illuminate the intricate relationship between overall satisfaction and workforce stability. By harnessing the power of these interrelated data points, HR teams can tailor their strategies and interventions, ultimately fostering a nurturing environment that engenders employee commitment and loyalty. The Employee Net Promoter Score remains a cornerstone within the portfolio of HR metrics for assessing employee satisfaction and engagement. The wisdom and understanding that arise from the skillful interpretation of eNPS pave the way for optimizing employee experience and cultivating a resilient organization deeply invested in the success of its people. Embracing the opportunity to learn from the eNPS reflects an organization’s commitment to fostering a thriving culture, where employee satisfaction and well-being are at the core of its mission. Employee Engagement Employee Engagement is a vital HR metric that gauges the emotional investment and commitment of employees towards their work and the company. This measurement helps gauge the level of enthusiasm, loyalty, and dedication employees have for their roles within the organization. It directly impacts key performance indicators, such as productivity, turnover, and overall organizational performance. Simply put, employee engagement stems from the deeply human need for fulfillment in one’s work and plays a decisive role in the success of an organization. Delving deeper into Employee Engagement unveils its significance. High engagement levels often translate into a more motivated, resilient workforce that achieves higher productivity levels and fosters a lower turnover rate. Engaged employees are typically more loyal, invest greater effort into their work, and are likely to go the extra mile for the company’s success. Additionally, they form the backbone of a positive workplace culture, contributing to a harmonious, cooperative work environment. However, measuring Employee Engagement can be challenging, as it encompasses various key data points, including job satisfaction, loyalty, pride in their work, and the quality of relationships with co-workers and supervisors. Various tools like surveys and feedback sessions can gather these data points, which, when analyzed together, can provide a composite picture of the organization’s engagement health. In essence, Employee Engagement is an invaluable measurement within the HR metrics spectrum. Its findings shed light on the pulse of the organization, highlighting areas that require optimization to enhance job satisfaction, increase loyalty, and improve overall performance. Prioritizing and nurturing Employee Engagement reflects an organization’s commitment to its most critical resource – its people. It is a testament to the organization’s dedicated pursuit of achieving success by building a highly engaged and motivated workforce. Employee Satisfaction Within the dimensions of Human Resources Management, the metric of Employee Satisfaction stands as a direct barometer of how content employees are. It comprehensively measures their satisfaction levels with aspects like job roles, the work environment, organizational policies, and workflows. This critical metric transcends the mundane statistics, illuminating the subjective experiences and feelings of employees towards their workplace. Central to the robustness of the HR Processes, Employee Satisfaction harbors the potential to significantly influence an organization’s success trajectory. A workforce that is satisfied with their roles, feels valued, and finds alignment with organizational policies tends to exhibit higher productivity, lower turnover rates, and greater levels of engagement. It also underscores the positive aspects of an organization’s culture, reinforcing its attractiveness to prospective talent and bolstering its reputation in the job market. By undertaking regular Employee Satisfaction surveys and making this assessment an integral part of their Human Resources Management, organizations can amass valuable insights. These key data points then serve as a compass to navigate the planning and execution of HR policies, correcting course where needed and thus ensuring an environment that promotes satisfaction. To conclude, Employee Satisfaction (aka Employee Happiness) is not merely a measure of contentment. It is a testament to the effectiveness of the HR processes and the overall health of an organization. Prioritizing this critical metric helps build a workforce that is not just satisfied, but also engaged, productive, and committed to driving the organization’s success. Employee Experience A core metric within the domain of Human Resources Management is the Employee Experience. This term encompasses an employee’s entire journey within an organization, encapsulating every touchpoint from recruitment to exit. It includes their encounters with the organization’s culture, work environment, management philosophy, and HR Operating Rhythm. Essentially, it reflects how an employee perceives their interaction with the organization at large, offering a panoramic view of their professional journey. The depth and breadth of the Employee Experience shed light on critical aspects of the Human Resources Management strategy. It helps identify potential areas for improvement, and, perhaps more importantly, areas that are working well. This measure is not confined to the individual employee’s direct work-related tasks; it extends to cover the overarching environment, company culture, and sentiment within the organization. A positive experience fosters a feeling of inclusion, boosts engagement, improves job satisfaction, and reinforces a sense of loyalty. Accurate measurement of the Employee Experience requires a detailed understanding of the organization’s HR Operating Rhythm. It calls for a systematic, disciplined approach to assess each phase of an employee’s journey, from onboarding and integration to growth and eventually, their exit. Regular feedback sessions, pulse surveys, and open communication channels can serve as tools for capturing the nuances of Employee Experience reliably. The Employee Experience stands as a pillar in the realm of HR metrics. A thorough understanding of this metric empowers Human Resources Management to create a fulfilling, rewarding environment that positively influences every facet of the employees’ professional lives. In prioritizing Employee Experience, an organization reinforces its commitment to its most valuable asset–its people. This is instrumental in building a strong, vibrant, and high-performing workplace where each individual is fully engaged and aligned with the company’s vision and direction. Employee Value In the strategic framework of human resource management, Employee Value emerges as a critical metric. This term encapsulates the aggregate contribution an employee brings to an organization, assessed in light of key facets such as productivity, innovation, and teamwork. Effectively, it quantifies the unique worth of each employee within the organization, detailing their individual impacts on overall company performance. An employee’s value is intrinsically linked to their productivity. Higher employee productivity often directly translates to greater value for the organization. However, this metric extends beyond merely measuring task completion rates or output levels. It also encompasses the innovative capacities of the employee–their potential and demonstrated ability to introduce or improve processes, ideas, or products, thereby contributing to the organization’s evolution and growth. Further, the concept of Employee Value embraces the power of teamwork, recognizing the synergistic effects of cooperative, harmonious office relationships. The quality of interactions and collaborations, the readiness to assist colleagues, and the ability to effectively function within a team all contribute to an individual’s cumulative value to an organization. Understanding these dimensions through the lens of Employee Value illuminates the factors driving both individual and collective successes. The Employee Value stands as a comprehensive measure of an employee’s impact on an organization. It encompasses not only the tangible output in terms of employee productivity but also the softer aspects of innovation capacity and teamwork. A nuanced understanding and application of the Employee Value metric play a pivotal role in empowering HR leaders and business leaders alike, enabling them to enhance talent management strategies, foster a productive workplace, and drive their organization toward unparalleled success. Recruitment Metrics Recruitment Metrics serve as indispensable tools for HR managers and business leaders striving to optimize their talent acquisition process. These essential performance indicators, including time-to-hire, time-to-fill, and cost-of-hire, enable organizations to assess the efficacy, speed, and cost-effectiveness of their recruitment frameworks. By evaluating these key metrics, decision-makers can ensure that their talent acquisition strategies are aligned with the organization’s broader objectives while providing a seamless experience for both candidates and hiring managers. Central to the HR metrics ecosystem, Recruitment Metrics hold the key to detecting areas requiring streamlining, improvement, or an outright transformation in the recruitment journey. A comprehensive understanding of these metrics allows an organization to stay competitive in the job market, attract top talent, and fine-tune their recruitment strategies to bolster their workforce. In this context, time-to-hire, time-to-fill, and cost-of-hire metrics emerge as vital signposts guiding organizations toward the best practices for finding, hiring, and retaining exceptional candidates while striving for operational excellence. Time to Hire In the panorama of HR metrics, Time to Hire emerges as a key measure of efficiency within the recruitment process. It succinctly outlines the duration from when a job is posted to when a candidate accepts the offered role. A shorter Time to Hire often stands as an indicator of a more streamlined and efficient hiring process, reflecting the effectiveness of the recruitment strategies employed by an organization. Assessing Time to Hire provides valuable insights into the speed and efficacy of the recruitment function. A brief duration could signal a well-structured and efficient system capable of quickly attracting, evaluating, and securing suitable candidates. It may also imply a positive working relationship with hiring managers, facilitating swift decision-making and expediting the overall recruitment process. Conversely, a lengthier Time to Hire could indicate possible inefficiencies or bottlenecks that are slowing down the recruitment cycle. These could range from a lengthy decision-making process, difficulties in attracting the right candidates, to perhaps the absence of a robust recruitment platform or system. Understanding and analyzing this metric empowers an organization to undertake necessary revisions or enhancements to the recruitment process. Time to Hire is an essential recruitment metric, offering quantifiable evidence of the strengths and potential weak links within an organization’s recruitment process. Regular monitoring of this metric enables HR hiring specialists to uphold the efficiency and effectiveness of their recruitment practices, ensuring the organization remains competitive in the dynamic talent acquisition landscape. Having an optimized Time to Hire helps harness the full potential of the recruitment process, ensuring timely talent acquisition that aligns with the strategic growth objectives of the organization. Time to Fill At the heart of an organization’s talent acquisition process stands the crucial recruitment metric known as Time to Fill. This metric gauges the amount of time it takes to fill a vacant position, stretching from the moment a job opening is identified to the point when the selected candidate steps into the role. Time to Fill shines light on the efficiency of an organization’s hiring practices, offering valuable insights into potential bottlenecks or areas that may warrant improvement. A shorter Time to Fill typically reflects a well-orchestrated recruitment process, where vacant positions are rapidly filled, minimizing the adverse impacts of extended vacancies on the organization’s operational efficiency. Conversely, a protracted duration can signal complexities within the talent acquisition process that may require streamlining, or a case of substantial applicant volume making candidate selection challenging. Analyzing Time to Fill enables HR managers and business leaders to reveal and address any inefficiencies, reinforcing smoother, more effective hiring practices. Developing an understanding of Time to Fill is fundamental in fostering a more efficient talent acquisition process. Through the identification of friction points, organizations can take targeted measures such as optimizing job descriptions, refining selection criteria, or enhancing the interview process. These tailored strategies contribute to a more agile and proficient recruitment system, resulting in a competitive advantage in the quest for top talent. In summary, the Time to Fill metric serves as a vital indicator of the productivity and effectiveness of an organization’s talent acquisition process. Identifying areas for improvement can bolster overall efficiency, ensuring that businesses are well-positioned to swiftly hire the brilliant minds required to drive the organization to new heights. This metric not only measures the speed of the recruitment process but also signifies the organization’s commitment to selecting the best candidates for the job, thereby contributing to a sustainable, high-performing workforce. Cost of Hire In the realm of effective talent management strategies, understanding the Cost of Hire is of paramount importance. This financial metric delves into the costs associated with filling a vacant position, encompassing both direct and indirect expenses incurred during the talent acquisition process. Direct costs include job advertising fees, agency or recruiter fees, and background check costs. Indirect costs may incorporate time spent on candidate sourcing, interviewing, and onboarding across different organizational departments. A comprehensive overview of Cost of Hire offers indispensable insights to HR team members and business leaders, enabling them to evaluate their organizations’ recruitment efficiency and overall competitiveness. Evaluating the Cost of Hire is crucial in optimizing talent acquisition strategies, which, in turn, can profoundly influence an organization’s long-term success. By monitoring this metric, decision-makers can identify areas where cost savings and process improvements can be realized, minimizing excessive recruitment expenditure without compromising on the quality of hires. A solid grasp of Cost of Hire supports resource allocation and budgeting decisions, ensuring that organizations remain agile and capable of attracting top talent in the increasingly competitive job market. Efficient Cost of Hire management is vital to the sustenance and growth of an organization. By streamlining the talent acquisition process, HR professionals and business leaders can balance cost control with the pursuit of high-quality candidates, ultimately fostering a strong and vibrant workforce. Continued investment into refining recruitment strategies and processes will contribute to reductions in Cost of Hire while also positioning companies as attractive destinations for top talent. Assessing and managing the Cost of Hire is integral to the development and optimization of a company’s talent acquisition process. By examining these costs and identifying areas of potential improvement, organizations can refine their recruitment strategies, strike a balance between cost-efficiency, and quality hires, and solidify their foundation for enduring success. As a critical component of the recruitment metrics toolkit, the Cost of Hire serves as a key investment in the prosperity and future of the organization and its employees. Compensation and Benefits Metrics Amplifying the potency of an organization’s human resources strategy necessitates a comprehensive understanding of Compensation and Benefits Metrics. These crucial benchmarks, encapsulating aspects like pay gaps, salary averages, and more, guide HR managers and business leaders in making informed decisions about their organizations’ compensation structures. With these metrics at their disposal, professionals are better equipped to foster a fair, competitive, and enticing workplace, uplifting both employee satisfaction and organizational performance. Beyond merely representing numbers, Compensation and Benefits Metrics carry significant implications for talent acquisition, retention, and overall employee engagement. Drawing a clear picture of current compensation structures and comparing them to market standards can yield deep insights and illuminate areas for potential improvement. By closing pay gaps, aligning salary averages with industry standards, and delivering competitive benefits packages, organizations can showcase a palpable commitment to their employees’ welfare, ultimately underpinning a rock-solid foundation for sustainable success. Salary Range Penetration At the nexus of effective compensation management is the critical metric known as Salary Range Penetration. This evaluates how closely an employee’s salary matches the market or industry standards, ensuring businesses offer a competitive compensation package. Here, the Total Cost of compensation incorporates the entire salary spectrum—from minimum to maximum—considering various job roles and levels within an organization. The central role of Salary Range Penetration is to measure the employee’s pay position within the organization’s established salary range. This can help determine if the compensation offered aligns with industry benchmarks and remains attractive to both the current workforce and potential hires. By understanding where an employee’s salary stands in relation to these ranges, HR managers and business leaders can make informed decisions about pay increases, promotions, or adjustments needed to remain competitive. An efficient Salary Range Penetration system is vital for HR Compensation and Benefits managers in maintaining equity and transparency in compensation practices. Regular reviews and adjustments inspired by this metric can ensure the workforce feels valued, subsequently fostering higher levels of job satisfaction and commitment. By being mindful of this metric, organizations can shape an equitable pay structure that securely aligns the interest of employees and the strategic objectives of the company. Salary Range Penetration offers in-depth insights that fuel fair and competitive pay structures within organizations. By constantly monitoring and adjusting this measure, organizations can ensure their compensation strategies align with market standards, positively impacting employee satisfaction, and, ultimately, retention. Recognizing and acting upon the nuances of this metric is an investment in your people’s contentment and your organization’s long-term success. Salary Averages In the realm of fair and competitive compensation practices, understanding the concept of Salary Averages stands central. Salary Averages refer to the mean salary within an organization or a specific role. It essentially entails a comprehensive evaluation of the sum of all salaries divided by the total number of employees. This metric enables HR professionals and managers to maintain a balance in their internal pay structure while also considering relevant external costs. The value of Salary Averages is reflected in its ability to influence both internal and external costs tied to employee compensation. Internally, it aids in maintaining equity within the organization, ensuring a balanced distribution of compensation centered around fair market value. Externally, comprehending this metric efficiently allows companies to remain competitive in the market by offering attractive compensation packages that can attract and retain talent. Calculating and monitoring Salary Averages affords organizations a clearer lens through which to view potential disparities or imbalances in their pay structure. By identifying these gaps, companies can take corrective measures to ensure equitable pay among employees, fostering an environment of transparency and fairness. This conscious and conscientious practice not only strengthens employee relations but also encourages a more dedicated and motivated workforce. Salary Averages serve as a critical component of a balanced and competitive compensation practice. The insights derived from it throw light on both internal and external costs associated with employee compensation. This, in turn, equips organizations with the knowledge needed to ensure a fair, transparent, and competitive remuneration system—an instrumental cornerstone to fostering a satisfied and high-performing workforce. Pay Equity Centered at the heart of a constructive, diverse, and inclusive workforce is the core HR metric known as Pay Equity. It ensures that all employees receive fair compensation for their work and contributions, regardless of their gender or other demographic factors. The primary purpose of this metric is to foster a culture of equality, aligning with the principles of diversity and inclusion. Pay Equity helps eliminate unjustifiable disparities in the workforce relating to compensation. It is a reflection of an organization’s commitment towards upholding fairness by assessing and adjusting pay scales based solely on factors such as role, experience, and performance. With Pay Equity, HR leaders and business leaders commit to a critical investment in ensuring that their compensation practices do not discriminate but, instead, respect diversity and promote inclusion. Practicing Pay Equity necessitates regular monitoring and adjustments of pay strategies. It may involve conducting equity audits, examining pay practices, and implementing relevant policies that ensure fair compensation. The process extends beyond just remuneration and reflects the organization’s values, translating to higher employee satisfaction, improved employer branding, and fostering a culture that truly values diversity and inclusion. Pay Equity is not merely a metric; it’s an organizational commitment towards fostering a workplace culture that upholds the principles of equality, diversity, and inclusion. By driving pay practices that ensure equitable compensation, businesses can strengthen their employer brand, enhance employee loyalty, and build a robust foundation of trust and mutual respect. Pay Equity, thus, is less a choice and more a responsibility that organizations must shoulder in their quest for sustainable success. Pay Gap In the landscape of fair and equitable compensation practices, addressing the issue of the Pay Gap is a non-negotiable priority. Broadly speaking, this term refers to variations in pay across not only genders but also across different demographic, racial, and cultural groups. Comprehensive understanding of the concept of Pay Gap ensures that organizations adopt a sincerely fair approach to employees, emphasizing the principle of internal equity in compensation models. The Pay Gap is not merely about discerning salary discrepancies; it provides important insights into deeper systemic issues that might exist within an organization. Adjusting for these gaps is crucial for fostering a sense of fairness among employees and maintaining internal equity. This involves understanding these differences, identifying their origins, and devising systematic interventions to ensure equitable pay across all levels and roles. Efficient management of the Pay Gap necessitates close collaboration with HR managers and business leaders. This involves scrutinizing internal salary data, benchmarking against external markets, and rolling out policies that uphold equitable compensation. The commitment to narrowing and eventually eliminating the Pay Gap is a testament to an organization’s dedication to a fair approach to employees. Addressing the Pay Gap is a critical step towards establishing fairness and equality in compensation across all layers of an organization. Tackling this problem fosters a sense of internal equity, resulting in improved employee morale and productivity. As directly linked to a fair approach to employees, successful management of the Pay Gap is a substantial boon to the overall organizational health and reputation. Gender Pay Gap In the spectrum of fair compensation, addressing the Gender Pay Gap is of paramount importance. This metric underlines the salary disparity between male and female employees performing the same work. The alignment of the Gender Pay Gap to equitable pay scales is key in promoting workplace equality and maintaining internal equity. Firstly, let’s understand what the Gender Pay Gap is. It’s the differential between the average earnings of male and female employees, considering they are in identical roles with similar experience and performance. A noteworthy point is that a “gap” indicates a disparity, not justified by professional factors, signaling that there are elements beyond work performance influencing compensation. Such inequalities can undermine the spirit of fairness, negatively impacting the work environment and an organization’s ethical stature. The inevitability of addressing the Gender Pay Gap signals a commitment towards valuing a fair and balanced compensation strategy. By recognizing and actively responding to these discrepancies, organizations cement their commitment to internal equity. Revisiting pay structures, conducting thorough equity audits, and cultivating an environment of open dialogue about compensation are measures that can help in overcoming these challenges. Analyzing and working to lessen the Gender Pay Gap is more than an HR metric; it is a significant stride towards forging an equitable, inclusive workplace. The conscious examination and rectification of these disparities serve as a testament to an organization’s investment in their people, contributing to enhanced organizational morale and overall productivity. Prioritizing a sphere of pay equality is a critical contributor to achieving internal equity in the workplace. Talent Development Metrics In the evolving landscape of Human Resources, the collection, analysis, and interpretation of HR Metrics form a cornerstone for success. One subset of these vital metrics, particularly significant for both the HR Professional and the holistic growth of an organization, is the realm of Talent Development Metrics. These work to quantitatively measure the efficiency and impact of the organization’s talent development and training programs, fueling strategic decision-making and enhancing overall operational efficiency. Talent Development Metrics offer insight into the effectiveness of the company’s employee development strategies. These metrics range from gauging the reach, relevance, and responsiveness of training programs to measuring resultant employee performance and retention levels. While effectively broadening the scope of traditional employee metrics, these data points serve as a critical tool in assessing employee skill growth, job satisfaction, and, ultimately, boosting business productivity. Employee Growth Rate The Employee Growth Rate is a critical HR metric that helps assess this capability. By monitoring the development and promotion rate of employees within an organization, this metric highlights the effectiveness of training and development programs while signaling a truly forward-thinking learning organization. An organization’s deliberate focus on Employee Growth Rate is the embodiment of its commitment to competency-based learning. By tracking advancements, skill enhancements, and career progressions, this metric stresses the importance of investing in people. At the same time, it also serves as a valuable input for decision-makers looking to improve existing development programs, create new opportunities for growth, and better align workforce skills with strategic business goals. Employee Growth Rate, when viewed as a part of the bigger picture, is transformative. It elevates human capital, enhances employee engagement, and promotes exceptional performance. As a direct result, this results in increased levels of job satisfaction and employee retention. When it comes to a business performance perspective, an environment that nurtures talent and encourages growth leads to a more agile, effective, and adaptive workforce, enabling an organization to thrive in an ever-changing market. The Employee Growth Rate serves as an insightful measure of an organization’s dedication to cultivating a learning organization. Paying close attention to this metric and taking data-driven, empathetic actions reflects an organization’s commitment to its people, ultimately ensuring that it stays on a path of continuous growth. Embracing the Employee Growth Rate is a testament to an organization’s focus on competency-based learning, its appreciation for individual aspirations, and its unwavering pursuit of sustained business performance. Retention Rates In a world where employees are the linchpin of business success, Retention Rates serve as a crucial HR metric. This metric quantifies how well a company retains its employees over a period, effectively revealing insights into job satisfaction levels and the overall company culture. Keeping a keen eye on Retention Rates is central to the sustained effectiveness of a learning organization. Retention Rates are more than just numbers. They are indicative of an organization’s ability to maintain a competent, motivated workforce. High retention rates usually point towards positive job satisfaction and a supportive company culture. On the contrary, low retention rates may signal potential challenges that need to be addressed. These could include aspects related to competency-based learning, compensation, employee engagement, or opportunities for growth and development. Studying Retention Rates enables HR professionals and business leaders to identify areas of improvement within the organization. These insights guide decision-making processes around recruitment, onboarding, training, rewards, and recognition systems. An organization that thrives on high retention rates is likely to have a team of committed employees on board, willing to contribute to improved business performance. Such an organization tends to exude a positive ambiance, advantageous for its reputation as an employer, and its customer relationships. In a nutshell, Retention Rates are a vital health check of an organization. They portray how effectively an organization cultivates a climate of employee satisfaction and continuous growth, in line with principles of a learning organization. By focusing on Retention Rates, businesses can significantly influence competency-based learning, drive enhanced employee job satisfaction, and sculpt an empowering company culture, all of which are essentials for elevated business performance. Employee Performance Metrics At the heart of a successful business are its employees and their performance. Employee Performance Metrics offer a systematic lens to evaluate individual productivity and effectiveness. By providing a measure of an employee’s contributions and accomplishments, these metrics serve as an essential tool to comprehend and enhance workforce capabilities, a critical aspect of any learning organization. The scope of Employee Performance Metrics is broad and multifaceted, capturing a spectrum of data points such as quality and quantity of work, adherence to deadlines, job knowledge, and innovation. By providing clear and accurate information of individual employee contributions, these metrics aid HR professionals and business leaders in decision-making processes. They shed light on areas for improvement, identify potentials for promotion, and inform strategies for competency-based learning initiatives. The power of these metrics extends beyond individual employees and has the capacity to transform the entire organization. A workforce that is regularly assessed and guided using performance metrics is more likely to be engaged, motivated, and productive. This engagement and productivity directly impact the operational efficiency of the organization, contributing to enhanced business performance. Employee Performance Metrics provide valuable insights into an organization’s most valuable asset, its people. By focusing on these metrics, organizations can create a proactive workforce, inspire continued learning, and drive performance growth, making them an indispensable feature of a well-functioning learning organization. They are the lynchpin that ties individual performance to competency-based learning and business performance, creating a synergetic environment that benefits employees and organizations alike. Summary Summary For HR leaders and organizational leaders, understanding a variety of key HR metrics is nothing short of essential. By successfully interpreting and actioning the insights from these 19 HR metrics, decision-makers equip themselves with the knowledge to effectively manage and enhance multiple areas of their human resource initiatives. These metrics not only help in shaping a productive and content workforce but also contribute tangibly to an organization’s future success. Diving deep into employee satisfaction, organizations must adopt a systematic approach to gauge the happiness and well-being of their workforce. By accurately capturing the significance of various factors that influence satisfaction, HR metrics enable organizational leaders to make informed decisions, fostering an uplifting workplace atmosphere where employees feel acknowledged, motivated, and valued. Retention rates, on the other hand, hold a mirror to the overall company culture, illuminating aspects that may need improvement, or areas that are flourishing. Consequently, these metrics facilitate effective action plans that drive harmonious cultures and stable employee longevity. The connection between a satisfied employee base and an efficient workforce highlights the core importance of retaining human capital for success in any business. In conclusion, comprehending and leveraging these key HR metrics is an indispensable requirement for building a robust and thriving organization that stands the test of time. HR teams, armed with these insights, play a crucial role in weaving together a genuinely outstanding company tapestry. By nurturing employees through informed, empathetic decisions, organizations can strengthen the foundations of their workforce, ensuring long-lasting success sustained by satisfied, productive, and fulfilled employees.
    Employee Engagement
    2023年12月10日
  • Employee Engagement
    Anita Lettink Challenges HR Norms: Adapting to the Unpredictable Work Landscape of 2024 ANITA LETTINK:Why I'm not writing 2024 HR trends Anita Lettink, in her newsletter, discusses why she is not writing the 2024 HR trends. She emphasizes the importance of a dynamic, continuous strategy over annual predictions in HR. The article reflects on the evolving nature of work and the need for a fluid, adaptable approach. Lettink argues that understanding and navigating HR challenges require responsiveness to rapid changes in technology, economics, and workforce dynamics. She introduces the 2024 HR challenge, encouraging HR professionals to maximize the use of their HR solutions and focus on making incremental changes to better support their workforce. 推荐给大家; Hey future of work friends, I probably find you during budgeting and planning time. For me, it’s the end of conference season. I did my final keynote on the New Employee Experience at Indeed FutureWorks last week. And now I am back home, and will use December to read everything I bookmarked to surprise you with new keynotes and articles next year. I’ll also write my annual HR Tech Startup report. And if you’d like an in-company webinar on what to expect from AI in HR or how to prepare for Equal Pay please reach out - I’ve got you covered! Thinking about the Future of Work is important. And yes, you’d already assumed I would say that. I've spent years analyzing trends at the intersection of economics, business, technology, and human resources. Each year, I've distilled these insights into trend articles, aiming to forecast the year ahead. However, I've realized that our rapidly evolving world demands a different approach. In this newsletter, I'll share why I've moved away from annual trend predictions and why we need a more dynamic, continuous strategy in understanding and navigating HR challenges. I'll explore how embracing a fluid, responsive stance can better equip us to handle HR (tech) developments. Why I am not writing 2024 HR trends I've always been deeply invested in keeping a finger on the pulse of our industry. For years, it was a tradition of mine to sit down at the end of each year and write an article on emerging trends in Human Resources, based on my analysis of developments in economics, business, technology, and HR. I wrote them to reflect on the past year and help you - and me - prepare for the next. I stopped this tradition. And if you wonder why, it's not for a lack of trends or changes in the industry—far from it. The HR landscape is as dynamic as ever, perhaps even more so. But I've realized that these annual trend articles, while insightful, may not be as beneficial as I once thought. Sure, they give a nice overview of what’s happening and what might happen, but you can’t run after every trend. And most years there were way too many of them. The world of work is evolving at an unprecedented pace, and the tools and strategies that were groundbreaking a year ago might now be outdated. In this fast-paced environment, I believe that what we need isn't annual predictions but a continuous, adaptable approach to understanding and navigating HR challenges. When you want to provide a stable environment for employees and your company, thoughtful, strategic adjustments might be much more impactful. So, instead of offering predictions, I'm taking a different path. I want to share with you the reasons behind this shift in my thinking and why I believe it's crucial for all of us in HR to adopt a more fluid, responsive stance towards industry trends. Embracing a fluid approach This change was sparked by several realizations. Firstly, the very nature of HR is fundamentally about people, and people are inherently unpredictable. People also like stability. And while trends can give us a broad outline, they can't capture the nuanced, often sudden shifts in employee needs, workplace dynamics, and organizational cultures. We all remember the start of the pandemic, when we put everything aside to make sure that employees could work safely, and where possible, from home. And while we might think this was a once-in-a-lifetime occurrence, we also know the world has become more unpredictable, and we should be ready to deal with similar sudden events. And that means we should think more in terms of how we can offer a stable base that can handle these sudden shifts. That also means we should not be so quick in dividing work in “the past” and “the future”. While some people argue you should only look at the future of work, I believe we should take a much more nuanced approach. As example, the picture above: it’s often used to show the past and the future of work. In my thinking, both sides represent the future. It’s not either/or, it’s and/and. And when I speak about the New Employee Experience, I use it to encourage HR professionals to cast a wide net: how can you offer all work options, so you appeal to a larger section of the workforce? It’s not about discarding the past and looking at the future. It’s embracing both where you can. Some people like the 9-5 day, working from an office. Some people find profit more important than purpose. It’s about offering a wide range of choices, to attract and retain people in a time when the labor market is tight. That’s especially important when you work in the Global North, and a next major shift is upon us: a shrinking workforce due to demographics in combination with the lack of skilled workers. How useful are predictions anyway? Secondly, I noticed a pattern over the years. Many of the trends I predicted would either rapidly evolve or be overtaken by entirely new developments before the year was out. Just look at Generative AI: at the end of last year, no one predicted that this would be the main topic of 2023. This rapid (r)evolution made me question the usefulness of annual predictions: why do we write them only at the end of the year? In a world where change is the only constant, static yearly forecasts seem almost counterintuitive. How can we even begin to predict what is coming, when recent events put everything we know upside down? And lastly, I also started to wonder if focusing too heavily on future trends might pull us away from the present. When we always look ahead, we might miss crucial opportunities to address current issues effectively or fail to build on the strengths we already have. It can sometimes cause us to miss out on addressing the immediate needs and challenges facing our employees and organizations. By constantly chasing what might be ahead or new, we risk not fully leveraging the strengths and successes we currently possess. It's vital to strike a balance between preparing for future changes and optimizing our current practices. This way, we can ensure that our efforts are not only geared towards what the 'future of work' might look like but are enhancing today’s HR strengths, thereby creating a more holistic and effective HR strategy. 2024 Challenge And to illustrate the above with a practical example, let me ask you this: what percentage of your HR solution do you actually use? I am not asking for an exact number, just an estimated guess. When you look at its current functionality, do you use all of it? Half? Maybe even less? When you close a contract for an HR cloud solution, the vendor will not only maintain the solution in its current state, but also improve it over time. And the fee you pay covers all those new features and functionalities. That means you get more bang for your buck. But if you don’t activate any of these features, then the vendor is wasting development capacity, and you are paying for something you will never see. Would you consider that good use? And the problem isn't just the use; you will also miss out on the potential to support your workers better and change your workplace. Every unused feature in your HR solution is a lost chance to improve employee engagement, streamline processes, or uncover people insights. So, here’s my 2024 HR challenge for you: 1. Guess: How much of your HR solution do you use today? 2. Pick one unused feature in your HR solution, explore it, and make it available! Try to make a gradual change every month. Repeat that during the first six months of 2024 and then evaluate your success or learn from your mistakes! And don’t forget to tag me with the results! Instead of focusing on yet another 2024 HR trend, let’s make sure that we first use our HR solution to the fullest, one feature at a time. I think this will be more helpful to your organization than you might think. Let’s continue the conversation I don’t want to leave you with the impression that looking forward isn't important. On the contrary, it's crucial. If only for the reason that what we build today will affect our future workforce the most. But we should do it with the understanding that HR is less about predicting the future and more about creating it through proactive, ongoing engagement with our workforce, our company, and the world around us. To maybe not take giant leaps but make incremental changes that benefit the people we work with most. People are tired of constant change. However, we can draw inspiration from social media tools - by implementing small, gradual improvements, we can consistently enhance the experience, allowing people to smoothly adapt to these changes over time. This shift is not just about how we talk about HR trends; it's about how we do HR. It's a move towards a more dynamic, responsive, and collaborative approach that recognizes the complexity and fluidity of our work. It's about creating a living dialogue that evolves with our ever-changing environment. We must talk about the future. But it shouldn’t be confined to the end of the year. There is no reason for such a hard cut. I look forward to engaging with you, in continuous conversations about what we're seeing, doing, and expecting in real-time. This approach, I believe, will not only keep us more connected to the immediate needs of our organizations but also better prepared to adapt to whatever the future holds. While I don’t write HR trend articles anymore, my commitment to helping you understand and make sense of the future of work is as strong as ever. I will keep you posted on the latest developments as I see them. I will continue to write this newsletter about my observations on how we can improve work with the help of technology, especially new tech. Good luck with planning the year ahead. And let me know if you would have preferred a list of 2024 HR trends, Have a great day, Anita What’s next for compensation? Pete Tiliakos, Anke Mogannam and I participated in an online #WDAYChats. We shared insights and POV’s on modern payroll operations and how payroll leaders can help their organizations minimize cost and accelerate innovation. Decusoft asked me how companies can prepare for pay transparency and equal pay. You can find my answers here. Indeed asked people if money really makes them happy. Find the surprising answers, an interview with yours tryly and more compensation charts in this insightful Dutch report: De toekomst van compensatie.
    Employee Engagement
    2023年12月01日
  • Employee Engagement
    AIHR:Measuring Employee Experience: A Practical Guide for 2024 Keeping your employees engaged, motivated, and satisfied throughout their journey with your organization is key to business success. Measuring employee experience allows HR professionals to understand how their workforce feels and ensure the team remains fulfilled. In this article, we’ll explore how to measure employee experience, evaluate the results, and turn them into meaningful action. Contents What is employee experience (EX)? Why measure employee experience? How to measure employee experience Best practices for measuring employee experience FAQ What is employee experience (EX)? Employee experience (EX), in its simplest form, is how employees perceive their stay at your organization from when they apply for a job to after they leave. It encompasses various dimensions – ranging from the physical workspace and technological tools being used to the organizational culture, professional growth opportunities made available, and social interactions they have with colleagues or superiors. It’s more than just a collection of daily experiences at work; EX profoundly shapes an employee’s perceptions about their employer and impacts their decision to stay or leave. DIVE DEEPEREmployee Experience vs. Employee Engagement: 4 Differences To Know Why measure employee experience? 87% of employee experience experts say that a great employee experience helps retain and attract talent. However, only 51% of employees feel that their organization is delivering on the experience they promised. By measuring employee experience, you can uncover and fix issues and discrepancies to reap the benefits of a satisfied and engaged workforce. Let’s break down the reasons why you should measure employee experience. Enhanced productivity and performance Research shows that superior employee experience (EX) may lead to enhanced productivity. Employees who feel satisfied, empowered, and valued are more motivated to perform at their highest level. They significantly contribute to organizational goals, which can result in an over 50% increase in revenue. By focusing on optimizing the employee journey – from end to end – companies can foster a work environment that stimulates both individual and team performance. LEARN MORE23 Key Employee Experience Statistics You Should Know in 2024 Retaining talent Monitoring and enhancing EX levels significantly contributes to improving retention rates. Employees who resonate with their company culture and find meaning in their work stay longer in their organizations. Examining facets like workplace habits or preferences provides employers invaluable insights related to employee experience – which ultimately feeds into long-term staff retention strategies. Making informed decisions related to HR practices A robust method of measuring employee experience offers in-depth insights into how employees perceive things such as career development opportunities or even intricate details like office seating arrangements. This helps HR shape policies and practices strategically and make smarter decisions that maximize the workforce potential while actively minimizing discontentment factors. Enhanced customer experience A happier workforce equals happier customers. Companies with great employee experience report 2X as high customer satisfaction levels compared to businesses scoring low on employee experience. A well-executed EX strategy will aid your organization in delivering higher standards of service, creating a ripple effect that extends far beyond merely measuring employee experience for internal benefit.   Australian Defence Bank collaborated with the employee and customer experience management platform Insync to measure and improve EX and CX.   Investing in their employees has helped them build a motivated workforce and get outstanding business results. Not only are they in the top 10% for employee engagement compared to other financial organizations, but they have also achieved record deposit growth in transaction and savings account balances.   Innovation, growth, and improved organizational performance As we’ve already alluded to, keeping your finger on the pulse of EX can set the scene for broader innovation and growth within an organization. Employee experience goes hand in hand with employee engagement, which helps foster an innovative culture and a passionate commitment to ongoing improvement—an infallible recipe to drive the company performance northward. To sum it up, measuring employee experience isn’t simply good practice, but it can bring numerous strategic benefits that make a profound impact on organizations and their competitive standing in the market. How to measure employee experience Employee experience is a multifaceted and intangible concept, which is not easy to quantify at first sight. Successfully measuring it involves defining relevant employee experience metrics and methods of measurement to collect the data. Let’s take a closer look. 1. Define and track employee experience metrics Employee experience metrics allow organizations to gain insight into the wellbeing, satisfaction, and productivity of their teams. The following metrics serve as good indicators of the employee experience levels at your organization: Retention rates Retention rates signify how many employees remained within the company over a specified period. A high employee retention rate generally implies positive experiences at work, while low rates indicate potential problems or dissatisfactions among staff. Intent to stay This metric shows how many employees foresee themselves staying with an organization over a lengthy period. It can provide insights into the workforce’s commitment level and their perception of future opportunities within the company. Number of employee referrals The number of referrals from existing staff suggests how highly they rate working within the organization. The higher this figure is, the more positive opinions workers hold about their employee experience, and that’s why they’re willing to recommend you as an employer. Productivity metrics Productivity indicators such as performance ratings or meeting project deadlines can reveal a lot about how efficiently an employee works. High productivity levels generally imply a supportive environment that propels the team towards achieving set objectives. Employee Net Promoter Score (eNPS) The eNPS asks employees on a scale from 0-10 whether they would recommend their place of work to others – typically friends or family members. The data gleaned helps appraise the overall employee experience levels. Employee Experience Index The Employee Experience Index score takes into account an array of factors influencing the overall workplace atmosphere, like engagement levels, empowerment feelings, job fulfillment factors, and key performance indicator achievement. It provides a holistic overview of what it might be like working for your organization. The exact dimensions of the Employee Experience Index depend on how an organization defines it. Two well-known Employee Experience Index systems have been developed by IBM and Forrester. 2. Administer surveys Once you know what insights you’re hoping to gain, you can start collecting data. Surveys are an indispensable tool for measuring employee experience. There are a couple of types of surveys that you can utilize. Employee experience surveys Employee experience surveys provide an avenue for employees to confidentially share views about their workplace, its leadership practices, and its culture. Organizations typically conduct employee experience surveys annually, bi-annually, or quarterly. Including both quantitative and qualitative questions in your survey will provide you with comprehensive data on your respondents’ perspectives. Quantitative questions, usually closed-ended, help gather structured data that you can do a statistical analysis of, revealing patterns and trends in responses. On the other hand, qualitative questions, typically open-ended, elicit descriptive and narrative responses that dive deeper into the nuances and complexities of participants’ experiences and feelings. These responses shed light on the ‘why’ and ‘how’ behind the numbers, uncovering the underlying motivations, beliefs, and emotions that drive behaviors and opinions. By incorporating both types of questions, you can capture the breadth of information and the depth of insights. Employee experience survey questions examples Next to the eNPS question “On a scale from 1 to 10, how likely are you to recommend our organization as a place to work to your friends and family?”, examples of quantitative employee experience survey questions include: On a scale of 1 to 10, with 1 being “Not at all” and 10 being “Extremely”: How satisfied are you with the opportunities for professional development within the company? How confident do you feel in your current role and responsibilities? How supported do you feel by your direct supervisor or manager? Qualitative questions you can consider covering in your survey are: In your opinion, what 2-3 changes could be made to improve the overall work environment and culture? What aspects of our company’s culture do you value the most? If you could recommend one thing to improve team collaboration, what would it be and why? Pulse surveys Pulse surveys are short, frequent surveys designed to quickly capture employee feedback and continuously gauge overall sentiment about their workplace experience. Focusing on a few key questions, they are less burdensome for employees, leading to higher response rates. These surveys can help organizations zoom in on current events or specific workplace issues that impact employee experience. However, regularly collecting data can lead to an abundance of information. Organizations must have the capacity and tools to analyze and act on this data to prevent it from becoming overwhelming or underutilized. It’s crucial to use pulse surveys strategically and in combination with other feedback mechanisms to ensure a comprehensive understanding of the employee experience. New hire surveys New hire surveys help you capture insights about one of the most crucial “moments that matter” in an employee’s journey: their onboarding. This initial phase sets the tone for an employee’s tenure with the company, shaping their perceptions, expectations, and overall sentiment toward the organization. You can glean valuable feedback about the effectiveness of your onboarding processes, the clarity of role expectations, and the cultural immersion experience. This feedback not only provides a snapshot of the new employees’ experience but also offers actionable insights for organizations to refine their onboarding processes so that they create a positive and lasting first impression. 3. Conduct qualitative interviews One-on-one dialogues with employees afford a deeper understanding of the intricacies at play regarding the overall employee experience. By conducting employee interviews, you can complement and enrich your survey data. They provide you with an excellent opportunity to ask open-ended questions and give your employees space to express their opinions and perceptions. Two common types of interviews to gather qualitative data are stay interviews and exit interviews. Stay interviews These discussions aim to find out why employees opt to remain with an organization. HR professionals can then identify the positive aspects of their working experiences that should be reinforced or replicated. Exit interviews Exit interviews help you assess why employees leave your organization and how they see their time spent working for you. These discussions allow you to better understand the challenges our employees face at work, providing insights into potential corrective measures. By adopting these varied approaches blending both quantitative and qualitative employee experience measurement methods, businesses can effectively gauge worker sentiments – thereby improving employee experiences and driving organizational success. Best practices for measuring employee experience Measuring employee experience effectively goes beyond defining relevant metrics and conducting surveys and interviews. To get a comprehensive view of employee experience at your organization and put your findings into action, you need to follow these five best practices. Setting clear objectives Begin with a set of distinct objectives that align with your company’s overall business strategy. This is crucial for accurately evaluating the employee experience. Why exactly do you want to assess employee experience? Are you aiming to increase productivity or retention rates or encourage higher creativity levels across teams? Your end goals play an indispensable role in determining which part of the employee journey needs focus and what type of feedback you need from the employees. Conducting research across different employee groups When you’re measuring employee experience, you need to recognize diversity within your workforce. That helps you accurately capture different facets of the work experiences of diverse groups in your organization. Make sure to survey or interview employees from diverse backgrounds, different job levels, departments, and lengths of service to understand the unique challenges they might face. Dell Technologies partnered with an employee experience measurement platform Voxxify to design a hybrid work plan for one of their European offices. Over 60% of employees responded to the survey, providing more than 2,100 individual comments. The analysis results helped identify four areas of focus. These included updating the handbook for managers and employees for hybrid work considerations, defining the value of coming into the office, supporting employees’ mental wellness, and optimizing facilities and technology to enhance the work environment. The office now sees occupancy rates of 60% or more on Tuesdays through Thursdays, and the success of the measurement effort has led to plans to repeat it annually. Overcoming survey fatigue and ensuring participation It may be tempting to send surveys left and right for comprehensive data collection when measuring employee experience. However, you should really avoid doing so. Survey fatigue can quickly pile up, draining previously enthusiastic participants’ eagerness to provide valuable insights. To keep engagement high and maximize response rates, make sure your surveys are succinct yet thorough. Carefully plan your survey schedule to not overwhelm your team. For example, you can send out a comprehensive survey quarterly or bi-annually, with a couple of shorter pulse surveys in between. It also helps to effectively communicate the purpose behind these assessments, so employees see them not as tasks but as avenues towards improving their work lives. You can, for instance, share examples of initiatives you implemented based on employee feedback. Guaranteeing confidentiality Nothing squashes honesty quicker than a sense of insecurity surrounding responses’ anonymity, which makes maintaining confidentiality critical to effective employee experience measurement. If you use external applications for gathering feedback, emphasize their confidentiality features. You should also invest in fostering an environment where employees feel they can honestly express thoughts and concerns without fear of retribution. Doing so will not only amplify trust but also provide you with more authentic data to work on. Acting on employee feedback Once you’ve gathered and analyzed employee feedback, it’s time to take action. Prioritize high-impact initiatives and create a plan for how to implement these. Employees need to believe that their input sparks real change; otherwise, they might lose engagement in such processes altogether. Recognize employee contributions and communicate plans about future improvements based on their input clearly. Transparency here fosters a sense of responsibility among the staff and improves morale during periods of change. Ultimately, measuring employee experience is a cyclical process. It starts from setting clear objectives leading up each step to enacting feedback-led changes and then identifying newer areas for improvement continuously. Key takeaway Staying on top of your employees’ experiences at work allows companies to detect dissatisfaction early enough and tackle issues before they develop into bigger problems. It’s a great way to improve HR practices and design employee experience that promotes productivity, talent retention rates, and ultimately a better workplace environment. Relevant employee experience metrics help you quantify the concept and solidify your measurement process. Surveys and qualitative interviews give voice to your employees, offering rich insights into the workers’ perceptions of the workplace. However, it’s the organization’s responsiveness to feedback that significantly impacts the effectiveness of measuring employee experience. It is key to not just listen but also take action based on employees’ feedback for positive changes. FAQ What are the most important employee experience metrics to measure? When it comes to measuring employee experience, key metrics that organizations use include: – Retention rates: Your business’s retention rates can reveal much about employees’ willingness to commit long-term to an organization. – Intent to stay: Beyond just assessing current employee tenure, discerning whether staff members aspire to stay with the company for the foreseeable future is a valuable indicator of how they perceive their journey at your organization. – Employee Net Promoter Score (eNPS): This quantifies how likely employees would recommend their workplace to others – a telling sign of overall satisfaction and positive employee experience. A combination of several employee experience metrics paints a nuanced picture of overall employee experience in any organization. Are surveys the best way to measure employee experience? Surveys play an instrumental role in gauging overall employee experience levels—all thanks to their ability for large-scale data collection and sentiment analysis. They also provide insights into potential pain points and highlight areas for improvement according to actual employee sentiments. However, while valuable, relying solely on surveys can lead to limited insights. Conducting different types of interviews, like stay and exit interviews, helps complement the survey data with deeper insights. What is the Employee Experience Index? The Employee Experience Index is a metric that aims to give a comprehensive view of employees’ experience. Essentially, it helps you gauge the overall ‘health’ of organizational culture and environment. IBM’s Employee Experience Index assesses employee experience on five core dimensions: Belonging, Purpose, Achievement, Happiness, and Vigor. The Employee Experience Index from Forrester evaluates three elements of EX: Empower, Inspire, and Enable.
    Employee Engagement
    2023年11月18日