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The Importance of HR Performance Data
25 November 2008:
How many of your senior managers are you in danger of losing in the next two years – and do you have replacements lined up? Do you know how effectively you’re spending your recruitment and training budgets, or how closely your reward system matches individual performance?
The reality is that many HR departments still struggle to provide information that’s really meaningful to the broader business. Much of the data that gets produced in HR is inward-looking, and much of the focus is still on administrative efficiency.
Your HR department might have a great system in place to ensure performance appraisals are carried out on time - but are you able to slice and dice the performance data to find out which teams are working together most effectively, or identify the best-performing new hires over the last twelve months and where they were sourced from?
The good news is that all this is starting to change. To begin with, there’s evidence of a gradual mindset shift across the HR profession. In a survey of 100 HR managers carried out by Webster Buchanan Research earlier this year, less than a quarter of respondents said they report on the direct cost of recruitment, such as adverts or agency fees, and only 6% report on indirect costs (e.g. time spent by HR managers or line managers).
However, the positive news is that in both cases, 29% plan to do so within a year.
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Source: Director of Finance online
