3 HR KPIs to measure for business success
With so many staff, clients and candidates all needing to be monitored, there’s a lot of planning and KPI measurement to be done. To save you some much needed time, we’ve summed up the 3 main KPIs to monitor in your HR firm.
1. Employee churn rate: If candidates aren’t sticking to their assigned jobs, you may have a problem with employee retention. Measuring the churn rate is a reliable way of identifying when things are going well or not.
2. Leads per month: There are two parts to this KPI – it’s worth measuring them separately.
– Candidate leads: Set up a target for this and see how you’re measuring up to that. Let’s say you need 20 fresh faces per week. How will you find them?
– Business leads: If you think each candidate is going to want at least 3 or 4 options, have you catered for that? The existing businesses using your services are to be nurtured as they could give your business referrals, helping you get your brand noticed.
3. Staff development: This shows how well each person on your books is performing. It’s essential that you place this at the heart of your strategy for growing the business. Time to train is a staffing metric examining how long it takes for your new recruit to learn the ropes.
For more KPIs, check out our KPI Library packed with top tips for your business.
Find out how to measure employee churn.
Learn more about your Customer Acquisition Cost.
Learn about staff development training time.