1. Employee Engagement
One common tool for this is the Employee Net Promoter Score (eNPS), where employees rate their likelihood to recommend the company. Based on scores:
– Promoters (9 or 10): Highly satisfied.
– Passives (7 or 8): Content but not overly enthusiastic.
– Detractors (0 to 6): Dissatisfied and unlikely to recommend.
This helps pinpoint areas for improvement to enhance overall employee satisfaction.
2. Diversity, Equity, Inclusion, and Belonging metrics
DEIB metrics gauge HRBP effectiveness by assessing workplace fairness and equity. Key factors include demographics and pay equity.
DEIB Goal:
✅ Target: Increase women’s representation by 10% in three years.
✅ Actions:
✅ Post all jobs on women-focused platforms.
✅ Reduce the gender pay gap by 15%.
3. Wellbeing metrics
Employee wellbeing reflects physical, mental, and financial health, affecting performance and productivity. HRBPs often oversee wellbeing programs, making it a key metric for their performance assessment.
Measuring Wellbeing:
✅ Surveys: Gather feedback on personal wellbeing, work satisfaction, and teamwork.
✅ Indicators: Monitor sick days, absenteeism, and healthcare expenses.
4. Retention rates
Employee retention rate measures the percentage of employees staying with a company over time. High retention indicates effective HRBP efforts, while low rates signal a need for strategy adjustment.
Goal Example:
Target: Increase retention rate by 6% annually.
Actions:
✅ Ensure 75% of employees have a salary and development discussion with managers.
✅ Conduct exit interviews for all departing employees to identify common reasons for leaving.
5. Absenteeism rate
Absenteeism rate measures the percentage of employees taking unplanned leave, excluding holidays and planned absences. A high rate often indicates poor wellbeing or engagement.
Action for HRBPs:
Address absenteeism by improving work engagement and wellness measures.
6. Cost of HR per employee
The cost of HR represents the total expenses on HR functions like recruitment, training, and employee management. Lower HR costs per employee can indicate HRBP efficiency.
Goal Example:
Target: Reduce HR cost per employee by 5% quarterly.
Actions:
✅ Audit HR tech tools and cancel unnecessary subscriptions.
✅ Cut administrative task time by 55% in a year.
7. Quality of hire
Quality of Hire (QoH) measures the value a new hire brings to the company, often based on performance metrics like sales targets, customer satisfaction, and meeting deadlines.
Indicators:
✅ Performance appraisal scores
✅ Retention rates
✅ 360-degree feedback
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