HR Metrics: How to Calculate Cost Per Hire

The Clever Consultant

Cost Per Hire (CPH) is one of the most common HR metrics used to measure recruiting effectiveness. Metrics HR Efficiency human resources Recruiting Costs

Looking Beyond Short Term Financial Metrics (Nigel Lake, Part 2 of 10)

Tom Spencer

Tom: Do you think that short term financial metrics are part of the problem in developing long term strategy? And so, there appears to be a disparity between what companies do and what the metrics are measuring. (Source: Flickr ).

Don’t Be Tyrannized by Old Metrics

Harvard Business

While effective metrics are essential for focusing attention and achieving results, they can also overpower better sense. Most industries cower to a few central metrics, the yardsticks that define the winners and losers. Metrics tried and proven over years become a guide to what’s important, driving resource allocation. But these metrics can become tyrants. When things change, outmoded metrics can threaten a firm’s survival. HBR STAFF.

Contact Center Metrics Tracking Toward Customer Centricity

1 to 1

For too many years, contact center measurements have been focused on efficiency instead of customer experience. Metrics such as average handle time (AHT), number of contacts handled, average wait time, and average speed of answer have all been heavily used and tracked.

We Can’t Study Short-Termism Without the Right Metrics

Harvard Business

But a smaller ratio could also indicate that: A firm has enough capacity built up and does not want to overinvest; a firm has recently outsourced its production, and therefore needs to spend less on capital expenditure; a firm has improved its operating efficiency, and therefore needs lower capital expenditure than before; or a firm relies more on short-term operating leases, which are not captured by the capital expenditure number, to provide for its capacity needs.

Investing in slack

Seth Godin Blog

They’ll be super efficient at easily measurable metrics. They can invest in less easily measurable metrics. One thunderstorm can cripple the air traffic system for six major cities, because each plane is stacked so efficiently that the ripple cascades, leading to failure and cancellations. In the old days, when efficiency was measured over a longer term, there was enough buffer to absorb a bump like that.

Retail Bank Operational and Digital Leaders Reap the Rewards

BCG

At the heart of the benchmarking are core operational metrics. Article Tuesday, May 10, 2016.

Does Your Brand Inspire Customer Devotion?

Joellyn Sargent

The resulting improvements in speed and efficiency offer measurable cost savings. This allows more efficient investments in demand generation and creates better ROI. With the right metrics, you can quantify each of these benefits for your business. It’s Nice to Be Liked.

5 Field-tested Steps to Restructure Your Team

LSA Global

Unlocking potential in terms of efficiency or effectiveness. Aligning confusing or contradictory goals, roles, scope and success metrics. Ambiguous or misaligned goals, roles, or success metrics. The Definition of Organizational Structure.

Social media is good … newsletters are better … here are 8 reasons why

Rod Burkert

Social media can be incredibly efficient. 6 – Email metrics are better. So, does your website speak the right lingo ? You know how you want to feel when you land on someone’s website. Do you think your audience feels that way when they land on yours?

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4 Ways Change Management Consulting Leaders Leverage Organizational Structure

LSA Global

When roles and success metrics are unclear, it is difficult for teams to perform beyond the sum of their parts. It is also critical when internal operations must change to become more efficient or more satisfactory to external or internal customers.

Virgin Atlantic Tested 3 Ways to Change Employee Behavior

Harvard Business

An estimated 21% of carbon emissions in the United States are attributable to companies, and yet to date there is scant research on how to make firm operations more efficient in terms of reducing pollution.

10 Common Derailers in Organization Design

Kates Kesler

5. Structure solution only. • Changes do not stick as processes, metrics, and reward mechanisms still reinforce old ways of work. • Sub-optimized results as employees struggle to deliver on new expectations. The work of organization design benefits from a thoughtful, inclusive process where leaders can iterate and explore alternatives and align on a path forward.

What a More Transparent Company Culture Can Do

LSA Global

When coworkers know clearly what each of their teammates is doing, they can be far more efficient and productive within their own realm of responsibility. Dashboards show company metrics and the company opportunities and challenges are open to discussion.

Do Undergrad Clubs and Experiences Matter on my Consulting Resume?

Management Consulted

However, in general, your undergrad clubs and experiences can be an efficient way to show you are well-rounded and possess intellectual curiosity, especially if you have been in one industry (or academic field) for long. Tip : Be sure to include metrics wherever possible! It’s the question of our time – how far is too far to go back on my consulting resume? We get questions literally Every. Single.

Call Length Is the Worst Way to Measure Customer Service

Harvard Business

Practitioners and pundits alike have long debated which metric is best for assessing the performance of a service organization. While this debate is unlikely to be settled anytime soon, we’d submit that there’s no question what the worst metric is for service: average handle time (AHT), which is principally a measure of call length, or, more simply, talk time. It’s not surprising that the metric figures prominently on a service rep’s scorecard.

Why CEOs Should Share Their Long-Term Plans with Investors

Harvard Business

We then scored the quality of disclosure based on whether there is no disclosure, generic disclosure, backward-looking metrics, or forward-looking metrics for a category. By contrast, forward-looking metrics were rarely provided for issues underlying the corporate governance theme.

Case Interview Foundations: 6 Types of Case Interviews

Management Consulted

However, in business, decisions can be effectively and efficiently made based on near-perfect data/calculations. Profitability is the ultimate business metric , and profitability cases can address a business in any industry.

Knowing What Works and What Doesn’t – Part 2

Martinka Consulting

Last week I discussed Rotary’s emphasis on sustainability, training and the use of metrics on International projects. I mentioned what I called the most important part of the project – training of the teachers on how to best use technology to improve classroom efficiency. We have to have metrics. Part two of two.

How to Improve Leadership Decision Making

LSA Global

Agree upon the decision making criteria and the metrics for both success and failure. In order for low risk decisions to be made efficiently and effectively, it is necessary to establish clear processes and responsibility. Effective Leadership Decision Making.

Technology and Wisdom: Where and How Do They Intersect in Life, Work and Play? (Part 2)

Women in Consulting

Her talk was about “the third metric” in measuring success beyond money and power. 100% recruiter efficiency. By: Jennifer LeBlanc. Following up to last week’s post, here’s the second half of what I learned at Wisdom 2.0, a technology and wisdom conference I attended Feb.

Uber Shows How Not to Apply Behavioral Economics

Harvard Business

Another example I often give concerns the use of fuel- and carbon-efficient flight practices in the airline industry. In a recent paper , using data from more than 40,000 unique flights, John List and colleagues found significant savings in carbon emissions and monetary costs when airline captains received tailored monthly information on fuel efficiency, along with targets and individualized feedback. All four groups increased their implementation of fuel-efficient behaviors.

Why CRM Projects Fail and How to Make Them More Successful

Harvard Business

The EVP of sales liked the easy-access dashboard to report on metrics and the forecast. ” If the sales team recognizes the value of this tool, you’ll get all the metric and forecast information you desire. PM Images/Getty Images.

Is More Effective Training the Answer?

LSA Global

Like most performance issues, the answer to improvements in TSA screening most likely contains a combination of actions related to clear goals/roles/processes, improved technology, better trained employees and aligned performance metrics and rewards.

Too Many Executives Are Missing the Most Important Part of CRM

Harvard Business

For most organizations, it’s calibrated to drive sales, which means sales conversions are the primary metric it follows. Relationships aren’t numbers, though, and CRM isn’t an efficiency tool. Assigning metrics that measure relationship activity.

64 Proven Ways Consultants Can Generate Leads Online (Consulting Lead Generation)

Tsavo Neal

This is an efficient way to re-purpose your content and create more value out of what you’ve already produced. What were the KPI’s or metrics achieved to show that the project was a success? Consulting lead generation isn’t easy, especially when done online.

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It’s Time to Make Business School Research More Relevant

Harvard Business

One review of methodologies concluded that, management researchers “…do what they know, what they have done, what is efficient and easier, and what is rewarded (i.e., Metrics that capture the extent to which research achieves these goals could be additional ways to assess scholarly impact. Each of these metrics is a reflection that a management scholar’s research has helped or enlightened communities beyond academia. spiderstock/Getty Images.

The Basic Social Media Mistakes Companies Still Make

Harvard Business

Start by basing your social strategy on business objectives, then follow that by thinking about target market, social media platforms, tools, and metrics. Don’t simply set goals for higher follower or engagement metrics in the brand’s current social media accounts. For efficiency, you may need tools that can bring together multidisciplinary social teams across department silos. Then make sure you have the necessary tools and metrics in place.

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How a U.S. Health Care System Uses 15-Minute Huddles to Keep 23 Hospitals Aligned

Harvard Business

A core challenge of management is to ensure that the organization’s priorities, strategies, and metrics are consistently embraced and that any impediments are identified and addressed quickly. Metrics that are reported daily, such as “units at capacity.”

How the Water Industry Learned to Embrace Data

Harvard Business

Organizations are also using these tools to improve maintenance, infrastructure planning, water conservation, and customer service (including repair efficiencies and pricing). For example, despite the social and efficiency value of using predictive analytics to prevent water leaks, many utility managers view themselves as heroes for responding after the leak has occurred. The water industry is using digital technologies and analytics to derive more value from its physical assets.

Fulfilling the Promise of AI Requires Rethinking the Nature of Work Itself

Harvard Business

The promise of today’s breakthroughs is not just efficiency – it’s unleashing value creation and capture in a time of mounting performance pressure. Optimized for efficiency rather than discovery and experimentation, their innovation and growth will stall. Executives today must make smart choices as automation and AI create massive efficiencies. Rethink your efficiency conversations. Paul Taylor/Getty Images.

(Re)Designing the HR Organization (Kates, Human Resource Planning, 2006)

Kates Kesler

At the same time, a focus on cost-cutting and efficiency aimed at staff functions in general—and at HR in particular—has pushed much HR transactional work into shared services or to outsourced vendors. Business leaders began to ask hard questions about outcomes, metrics, and the value of all these programs. Amy Kates. Human Resource Planning, 2006. Many HR functions have gone through the process of transformation over the past decade.

HR Must Make People Analytics More User-Friendly

Harvard Business

On the “push” side, HR leaders can do a better job of presenting human capital metrics to the rest of the organization using the LAMP framework: Logic. On the pull side, Wayne and I suggested that HR and other organizational leaders consider the necessary conditions for HR metrics and analytics information to get through to the pivotal audience of decision makers and influencers, who must: receive the analytics at the right time and in the right context.

CEOs Should Think Like Founders, Not Just Managers

Harvard Business

General Electric, Microsoft, ExxonMobil, Walmart, and CitiGroup — all were businesses led by managers who were experts in efficiency and optimization and who grew their businesses by making them work better than they had previously. They are for the most part young firms led by founders and their teams, bold leaders who continually prioritize new growth over efficiencies to their core businesses. Use New Metrics. TodUdom/iStock.

Business/busyness

Seth Godin Blog

He designed the Model T to be efficient to build. Social media might offer metrics that tell you if you’re moving toward what you hope to produce, but don’t confuse the map with the territory. As soon as you try to make a temporary metric go up at the expense of the real goal, you’re on your way to mere busyness. Our time is worth something.

How Avaya Turned Around Its Customer Ratings

Harvard Business

The design teams can then use the feedback from their customers to quickly and efficiently improve the products. And adding input and throughput metrics to the measurement of output means team leaders can see where they are in relation to the efforts of other parts of the company. Greater communication across the company contributed, as did adhering to hard metrics that allowed everyone to understand whether they were succeeding or failing.

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A Study of Hospitals Found That Outsider CEOs Make Their Organizations More Productive in the Long Run

Harvard Business

Our research , which focused on CEO succession in the American health care system, examined the impact of CEO succession on productivity and efficiency. We found that any type of leadership change will result in short-term adverse impacts on a firm’s operational efficiency, but outsider CEOs experienced a clear advantage in productivity gains. Lee Powers/Getty Images.

How the Most Successful Teams Bridge the Strategy-Execution Gap

Harvard Business

That time is spent establishing financial and operational metrics, aligning goals with overarching strategy, allocating resources, and reviewing key metrics. High-performing teams spend 14% more time checking their progress against strategic goals by reviewing key metrics and shifting resources accordingly. Hulton Archive/Getty Images. The strategy-to-execution gap is an enduring problem with no easy solution.

There Are Two Types of Performance — but Most Organizations Only Focus on One

Harvard Business

Every step of the process was measured, and real-time metrics were easily accessible. A great salesperson will operate much more efficiently with a defined process for reaching out to prospects. Metrics emphasized speed. We asked the management team if we could eliminate the narrow metrics and bonuses, which rewarded only tactical performance, and focus more on the adaptive. We rebuilt performance metrics to track impact, not to apply pressure.

How to Improve Your Finance Skills (Even If You Hate Numbers)

Harvard Business

” Focus on key metrics. Boosting your financial expertise requires figuring out the metrics by which your company measures success. That metric is often expressed in the form of a ratio. “There are four ratios common in every company: profitability, leverage, liquidity, and operational efficiency,” he says. Case Study #2: Learn the metrics your company uses to measure success. If you’re not a numbers person, finance is daunting.