Human Resource COMMON HR METRICS and FORMULAS Flashcards
Common HR Metrics and Their Formulas A table lists the metrics and their formulas. A continuation table lists the metrics and their formulas. A continuation table lists the metrics and their formulas.
What are HR metrics?
HR metrics are quantitative measures used to evaluate the efficiency and effectiveness of HR practices.
What is the formula for calculating Turnover Rate?
Turnover Rate = (Number of separations / Average number of employees) x 100
What does the Absenteeism Rate measure?
Absenteeism Rate measures the percentage of employees who are absent during a given period.
What is the formula for calculating Absenteeism Rate?
Absenteeism Rate = (Number of days absent / Total number of available workdays) x 100
What does Employee Engagement measure?
Employee Engagement measures the level of commitment and involvement an employee has towards their organization.
What is the formula for calculating Cost per Hire?
Cost per Hire = (Total recruiting costs / Number of hires)
What is the formula for calculating Training ROI?
Training ROI = (Net benefits of training / Total training costs) x 100
What does Time to Fill measure?
Time to Fill measures the time taken to fill a vacant position from the moment it is opened.
What is the formula for calculating Time to Fill?
Time to Fill = Date position is filled - Date position was opened
What does Employee Satisfaction measure?
Employee Satisfaction measures how happy and content employees are with their job and workplace.
What is the formula for calculating Employee Satisfaction Index?
Employee Satisfaction Index = (Total score of satisfaction survey / Total number of respondents)
Fill in the blank: The _______ Rate measures the percentage of employees who leave the organization.
Turnover
True or False: The Cost per Hire includes only the salaries of the new employees.
False
What is the formula for calculating Revenue per Employee?
Revenue per Employee = Total revenue / Total number of employees
