This week, we studied and discussed metrics relevant to workforce and staffing. For this assignment, you will demonstrate your understanding of these metrics by writing a short paper (about 2000 words) that addresses the following questions:
- What can each metric demonstrate? What is its importance to HRM and strategic decision-making?
- What would be learned from statistics derived from this metric?
- Where might one find (or collect) the raw data for this metric? How would you implement tracking this metric in an organizational dashboard/balanced scorecard?
- What, if any, potential difficulties might create challenges in tracking this metric?
workforce and staffing metrics
Efficiency of Workforce and Job Satisfaction (Quantitative)
Metric 1: Absenteeism Rate and Cost
Metric 2: Turnover Rate
- Diversity and Minority Composition within the Workforce (Quantitative)
- Metric 1: Measuring for Disparate Impact
- Metric 2: Ratio of Grievances to Employee Population
- Metric 3: Minority Representation by Category
- Metric 4: Minority Turnover Rate
- Efficiency of Recruitment and Selection Systems (Quantitative)
- Metric 1: Average Days to Fill an Open Position
- Metric 2: Offer Acceptance Rate
- Metric 3: Yield Ratios
- Understanding the Applicant Experience and the Exit Interview (Qualitative)