Metrics & Finance

Question 1

ROI

Answer 1

Benefit - Cost/ Cost

Question 2

Types of HR Management Systems (3)

Answer 2

• Enterprise Resource Planning
• HRIS
• Specialty Products

Question 3

Federal & provincial legislation regulates what (4)

Answer 3

• What is collected
• How it is stored
• Who has access
• How long it is retained

Question 4

How long does the CRA require documents pertaining to earnings be kept

Answer 4

6 years

*also stipulated in income tax act, employment insurance act and Canada Pension act

Question 5

How long does the Ontario ESA stipulate employee records be kept

Answer 5

3 years

*some other provinces stipulate a 2-year retention

Question 6

HR Audit

Answer 6

a review of HR policies, programs, processes, and documentation to identify opportunities to improve efficiency, effectiveness, customer satisfaction and legal compliance

Question 7

Efficiency Metrics

Answer 7

“Doing things right”

Question 8

Effectiveness Metrics

Answer 8

“Doing the right things”

Question 9

Operational Metrics

Answer 9

Short-term impacts

Assessing the efficiency and effectiveness of programs and services

Question 10

Strategic Metrics

Answer 10

Long-term impact

Assessing the linkage between HR programs and services and the organization’s strategic goals

Question 11

5C Model of HRM Impact

Answer 11

• Compliance
• Client Satisfaction
• Culture Management
• Cost Control
• Contribution

Question 12

Service Profit Chain

Answer 12

Engaged Employees -> Engaged Customers -> Sustained Profit & Growth

Question 13

Absenteeism Measures

Answer 13

# of workdays missed = sick days/FTE
*productivity measure

Question 14

Overtime Metrics

Answer 14

Average # of overtime hours worked by each contributor = overtime hours/individual contributor headcount

Question 15

Human Capital ROI

Answer 15

Revenue - {operating expenses-[comp and benefits cost]}/comp and benefits cost

Question 16

Compa-ratio for an individual

Answer 16

individual’s salary/midpoint of salary band

*tells are they paid at the upper or lower end of salary bands

Question 17

% of positions being actively recruited for is the vacancy rate

Answer 17

vacant positions/headcount

Question 18

External hire rate

Answer 18

of external hires/# all positions filled

Question 19

Average time to fill when hiring from outside

Answer 19

sum of all external days to fill/# external recruits

Question 20

Cost of external hires

Answer 20

total external hiring costs# external recruits

Question 21

Quality of external hires by source

Answer 21

average performance ratings of new recruits after 3 months from each hiring

Question 22

Turnover

Answer 22

{resignations + retirements+ involuntary terminations}/headcount

Question 23

Succession Planning Rate

Answer 23

of succession planning candidates/executive level headcount

Question 24

Grievance incidence

Answer 24

of open grievances/unionized headcount

Question 25

% of grievances closed

Answer 25

of grievances closed# of open grievances

Question 26

Arbitrated grievance rate

Answer 26

of grievances gone to arbitration/# of open grievances

Question 27

Most common HR metrics tracked (L&D)

Answer 27

• Cost
• Employee Participation Rates
• Training Programs
• Incidence

Question 28

Statistical Significant

Answer 28

Determines how sure we can be about the relationship between an outcome and another variable

Question 29

4 most common research designs

Answer 29

1. Surveys
2. Experimental
3. Qualitative
4. Existing Research

Question 30

Acquiescence Response

Answer 30

When a person gives the same favorable response to every questions

Question 31

Social Desirability

Answer 31

When a person gives the answer they think you want to hear

Question 32

Criterion Measures

Answer 32

ensure we are measuring what is important

Question 33

Criterion Relevance

Answer 33

ensure the criteria are relevant to what we are trying to predict

Question 34

Criterion Deficiency

Answer 34

Occurs when we haven’t assessed all the necessary criteria

Question 35

Criterion Contamination

Answer 35

Occurs when we measure things that are irrelevant

Question 36

Measurement Scales (4)

Answer 36

1. Nominal
2. Ordinal
3. Interval
4. Ratio

Question 37

Content Validity

Answer 37

ensures the measure accurately measures what it is supposed to

Question 38

Construct Validity

Answer 38

measures abstract constructs, such as IQ and Personality typer

Question 39

Concurrent Validity

Answer 39

when it can be shown, for example, that current high performers also do well on the test, it is said to have concurrent validity

Question 40

Split-Half Reliability/Internal Consistency

Answer 40

when the score a person receives on one-half of the test is the same as the score they receive on the other half of the test

Question 41

Fish Bone Diagram

Answer 41

Used to identify a problem, sorting causes into four categories (machinery, methods, materials, people)

Question 42

Utility Analysis

Answer 42

Assessing the dollar value of an initiative in terms increased productivity or performance