The Recruitment Metric Includes Various Aspects to Consider
As the HR manager for Athabasca University, utilization of these five HR metrics would generate annual reports on aspects that are employment related. Absence, Talent turnover, Retention, Recruitment, and Revenue per employee. The absence rate metric analyzes the days an employee has not reported for duty without prior notice or permission. Absenteeism will have negative impacts because there will be a gap in responsibilities which will over-burden fellow employees. To measure absenteeism, divide the number of absent days by the total number of days for the duration, then multiply by one hundred. The result is the total percentage of the employee's absenteeism rate.
The talent turnover metric measures the number of employees leaving the university. This metric is crucial because it monitors the job vacancy rate, providing insights into the number of unoccupied positions. In measuring this metric, the number of vacant posts is divided by the number of people demanding. The average talent turnover rate is measured by dividing the number of employees who left the university by the initial number of employees for the period analyzed. The result is multiplied by one hundred to get the total percentage of talent turnover rate. To get the average number of employees present in a particular period, get the sum of employees hired at the beginning and the number of employees hired at the end. Then divide the result by two. The retention rate metric shows the number of employees who remained in the university. It is the inverse of Talent turnover. It refers to the ability of the university to retain its employees over long periods. Monitoring the employee retention rate offers insights into the university's success with new strategies and employee engagement platforms. With high retention rates, the university can focus on critical strategies to improve service delivery instead of constantly hiring processes and training new employees. To measure retention rates, first, determine a particular period, and divide the number of employees present during the time by the number of employees present since the first day. The result, multiply one hundred to get the average employee retention rate.
The recruitment metric includes various aspects to consider. This metric also includes demographics. Demographics are classified by employee gender, age, level of education, and length of employment. Included in this metric is also time to hire and cost per hire. Measuring time to hire is the average number of days between when a vacancy is advertised and when a candidate gets the job. To measure cost per hire, get the sum of internal and external recruiting costs. The result is divided by the total number of employees hired. This metric also includes time taken to become productive, which can be measured by monitoring how long it takes for recruits to integrate and become productive fully. The fifth metric is revenue per employee, measured by the total generated revenue divided by the total number of employees in the university. This metric measures how employee productivity is translated into client value and reflected in revenue generation. Revenue per employee permits the university to determine all employees' effectiveness, efficiency, and productivity.
Obtaining data for the annual report would be challenging for some of these metrics. However, for the absence rate metric, as HR, it would not be challenging because the university has a sign-in system. With these records, it is possible to monitor all employees and determine whether there is absenteeism. All employee records are available for talent turnover and retention rates, from recruitment to the last working date. Accessing these records and determining the position of the university is easy. For recruitment and revenue per employee metrics, employees’ records are available. Each employee's productivity and work effectiveness are indicated.
This information will be helpful to the new president because there will be a clear explanation and demonstration of the university’s position and performance in the market. High employee turnover rates will show there is an underlying problem. With these reports, the president will offer guidance on ways to mitigate the university's challenges and devise ways to improve employee morale and productivity. In case the is an unfair disparity in the university's demographics, the reports will reflect, leading to the president acting. For the new president, these reports will provide a firm footing and understanding of the university's performance, prompting changes where necessary.
Downsizing
When downsizing, the most important things to consider are reasons for the downsizing, who will leave, temporary retrenchment, the possibility of outsourcing jobs, and the objectives. HR managers are usually unfortunate because they are the ones to deliver the devastating news. Most organizations, however, involve HR managers in planning and implementing organizational strategies. By doing so, individuals in the organization get the sense of being part of the solution and not the problem. The first step to downsizing is having a good reason for it. Downsizing primarily aims at minimizing expenses by reducing the number of employees in an organization. Making these decisions poses significant challenges to managers because, with few employees, those remaining will have extra workloads and responsibilities to compensate for the shortage, thus burdening them.
The second issue ...