CH 7 Metrics Flashcards
What are HR metrics?
Measures of data that reflect some descriptive detail about given processes or outcomes.
What are analytics?
How we look to identify relationships, patterns, indicators for forward planning.
What are the benefits of looking at metrics and analytics?
reduce cost of assessment real-time analysis easy data sharing focus on cost and ROI of human capital because there is more reliance on evidence-based management.
What is the balanced score card?
recognizes the limitations of financial indicators of performance.
focuses on on indicators such as customer satisfaction, process effectiveness, and employee development.
Focuses on factors that drive performance.
What are the focuses of the SHRM effectiveness metrics?
Financial results, equations based on dollar amounts to measure different areas of HR.
What has caused recent higher adoption rate of HR metrics?
Computerization, greater access to data, better consistency in data and over time.
What are the barriers that HR is having with getting managers to use metrics?
- Managers don’t say what info they need
- Managers don’t use HR metrics that are included in existing reports
- They don’t acknowledge receipt of reports.
What is a drawback of metrics and the balanced scorecard method?
Still rearview or feedback viewpoints.
What is the main objective of HR metrics?
To provide managers with the information they need to make better decisions regarding the acquisition and deployment of an organization’s human capital.
What are the activities that use HR metrics?
Reporting Dashboards Infographics Benchmarking Data mining Predictive analyses Workforce modelling Better problem solving/decision making
What kinds of decisions are involved in reporting?
What metrics?
How will the be packaged
How(via report or interactively), when(frequency), and to whom should they be reported.
What are dashboards?
Are a current snapshot of key metrics that show users real-time analysis of organizational processes and users can view several levels within the org.
What is data mining?
Efforts to identify patterns that exist within the data that may identify unrecognized causal mechanisms that can be used in decision making. Methods used incl. correlation and multiple regression.
What is predictive analyses?
attempts to develop models of organizational systems that can be used to predict future outcomes and understand the consequences of hypothetical changes.
Identify leading indicators of important org. outcomes and the relationships expected to lead to the.
Ie balanced score card.
What is workforce modelling?
Tries to understand how an organization’s human capital needs would change as a function of some expected change in the org’s environment. Incl. hr planning program.
