Human Resources Metrics For Business Continuity
In such difficult times, maintaining a grasp on the staff, objectives and the company overall can be stressful as a Human Resources professional. Businesses feel the consequences of the Coronavirus in several ways, including minimal (or fully interrupted) activities, new administrative policies, recruitment and staff protocols. Implementing HR Metrics to Track Post Coronavirus can be vital in ensuring mutual benefits for employees and business continuity.
After the Coronavirus epidemic, uncertainties may have impacted the employees’ ability to perform positively or negatively. Therefore, one of the most important metrics to be tracked, especially post-crisis is the rate of Employee Performance and Value. The easiest way to do this is through individual evaluations, superiors’ and colleagues’ appraisals. A mix of all three ensures that the analysis is not one-sided or biased. In case of a multitude of employees, consider installing a performance management tool. This will enable Human Resources to digitally monitor how employees are reaching their targets, and the percentage of their progress. As a considerable portion of the staff could be working remotely after COVID-19 crisis, these digital tracking metrics can be a great alternative.
Additionally, employee performance assessments can help track other metrics such as recruitment and employee satisfaction. For example, using a 9-box grid can be a solution if businesses want to avoid the added costs for external recruitment. It works by identifying a collection of top achievers who can be effective prospects for internal mobility according to their productivity and capability.
Similarly, in case of employee satisfaction, creating a survey mapping the differences between the level of performance versus how dedicated and appreciated employees feel can give the answer to declining output. This Human Resources Metric is time and cost-saving as it can proactively support employees, retention strategy, and recruitment. Both are necessary to strategically allocating limited resources available after a crisis.
This also extends to monitoring Key Point Indicators for training sessions to predict its’ efficiency in a post-Coronavirus world. For example, new additions such as digital knowledge are necessary for employees and should be a priority over conventional coaching sessions. The choice of KPIs can be different from business to business based on their necessities, therefore it is integral to run a survey or consult colleagues before it’s’ implementation.
The Coronavirus crisis has diversified the amount of uncertainties and forced Human Resources to take on additional responsibilities. Due to this reason, using the above-mentioned metrics can ensure improved efficiency.
However, these practices can be difficult and sometimes inaccurate when administered by less experienced executors. This is why using Talent Management companies to help may be the best way to optimise these HR metrics to track post Coronavirus efficiently with the available resources.
STRAMMER is an expert in Executive Search and Strategic Advice dedicated to the Life Sciences since 2008, and uses tailored solutions for each client such as coachings and full-proof personnel assessment programmes for each client.
- Top HR Metrics to Track During COVID-19, Paylocity.