HR metrics, or human resources metrics, are indicators that help organizations have a better understanding of their human workforce in order to make better decisions. Indicators include data such as employee turnover, cost per hire, and expenses per employee.
What Are Examples of Key HR Metrics to Track?
Tracking HR metrics helps organizations to understand how the power of their workforce can be channeled to maximize productivity and efficiency.
Key HR metrics include:
- Revenue per employee;
- Cost per hire;
- Employee turnover;
- Employee productivity rate;
- Diversity and inclusion metrics;
- Pay equity;
- Overtime percentage;
- Absenteeism rate;
- Profit per employee;
- Training cost per employee;
- Employee net promoter score (eNPS);
- Employee referral program success;
- Employee engagement level.
Why Are HR Metrics Important?
HR metrics help stakeholders make better decisions about workforce management and growth. They provide important insights on numerous key indicators essential to the success of an organization.