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The path to strategic HR measurement excellence "If you focus all your attentions on the software and see it as a cure-all, you will fail. The right expert support and centralized collation is important but without a sense of how the data will be used by individual managers, you will simply wind up with unusable data." Greig Aitken The research into HR measurement highlights the new emphasis being placed on strategic HR measures against the following background: - The continuing uncertainty and change affecting all businesses, reflected in emerging business concepts like business resilience, strategic readiness and operational risk management. - The breakdown of traditional employment relationships and the consequent importance organizations are placing on measuring the effectiveness of strategies designed to attract and retain key talent. - The concept of 'engagement' Ð the need to distinguish between the degree of willingness by the individual to perform beyond the usually expected level (engagement) from the simple urge in the individual to remain part of the organization (retention). - The links that are now being made between the active engagement of the workforce and the ability of the organization to innovate, anticipate change and respond to customers' needs. - The challenge of measuring intangible assets like these that are critical to the competitive capability of any organization but have no intrinsic value of their own. - The need to benchmark the organization's performance in people-related measures such as leadership, teamwork and culture against that of competitors and high performing companies. - The need to include people-related indicators of good management and leadership in operating and financial reports, to meet regulatory requirements and to better inform decisions by investors and other key stakeholders. If you are a subscriber, click here to read the full briefing. Click here to find out how to subscribe. |
