As an owner or manager human resources, you do not always have the time to monitor and analyze the decisions about recruitment, hiring, interviews and retention. However, understanding ROI is necessary for long-term growth. The good news is, you do not have the love of numbers to be able to apply these strategies to your business. 
In this article, we will discuss the importance of monitoring data HR and five summarize key data points all human resources of small businesses should follow.
For more information on HR data, download our free webinar on demand, "5 Points of HR data every small business should follow."
Why follow HR data?
It is easy to jump the track key indicators of HR. Why
For many it is because HR activities feel like a necessity, and feel so time-sensitive - you must hire now you have to shoot now, you need to keep employees happy . For others, it is because they do not know what to follow, or how
However, simple measures and monitoring data can help small businesses :.
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Understanding the health and stability of your workforce
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Follow the ROI of your HR costs
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Take decisions informed HR to recruit and retain the best employees
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Spend your dollars wiser human resources
Many small businesses to track only the data base of HR such as enrollment, FTE account, and the regime with the company. This is a good starting point. But, there are five additional calculations that add great value to any small HR department business
Basics -. What data HR Track
As you think about what HR data to monitor, consider these five data points as a starting point:
1. Employee Retention Rate - Do you know your employee retention (turnover) current rate? Has it increased or decreased? Why?
2. Cost of employee turnover - Each time an employee leaves, how much it costs your business? If you have implemented strategies or retention benefits, they work to reduce turnover? What is your return on investment
3. Recruitment - Expenses? How do you spend on employee recruitment? What methods attract the most qualified candidates?4. Training and integration expenses - How much do you spend on training and onboarding? How did he make your employee retention rate
5.Current and historical compensation data - Are online employee wages with other positions in your industry? The employees are paid correctly for promotions and inflation?Conclusion
Most small businesses have collection and measures related to the sales, service and profitability of solid data. So why not the same household data-driven HR?
With a few simple calculations about employee retention, turnover, recruitment, onboarding, and wages, small businesses can make decisions smarter HR and see the real return on investment on recruitment and retention strategies.
questions? Watch our on-demand webinar and / or leave a comment below.
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