Human Resources KPI Scorecard

Human Resources KPI Scorecard Template using typical HR KPIs and excel gauge charts. In this tutorial, we will use four essential groups of performance indicators in the area of HR. Employee turnover, Recruiting, Retention finally, Training and Development.

What is the key role of a HR in a company?

Medium and large enterprises today are inconceivable without a Human Resources department. HR is responsible for recruitment, handling employees’ records, administering payroll. Furthermore, follow-up work performance, and ensuring that employees receive the necessary training for their development. The dashboard shows the differences between targets and goals to track the company’s particular activities and the employees.

human-resource-kpi-scorecard

HR Template – A Closer Look

Let’s take a closer look at the figure below. We will use people graphs to build a dashboard template and to manage your HR-related decisions! We created a gauger section to display eye-catching visualization for the main KPIs.

Check the formulas to see how they work! How to calculate the sub-KPIs? Choose your KPI so you will know the value of sub-KPIs. Our HR KPI Scorecard is free as always.

You can fill column ‘Weight’ with values between 1 and 10 according to the displayed value’s importance. If the value is equal to 1, it represents the least important value in the company. Ten is the most important in the given field.

We have summed up weights; the “Employee Turnover” summarizing field on the figure is the sum of the columns subcategories. (Cost per Hire, Turnover Cast, Turnover Rate, and Time to Fill)

human-resources-kpi-scorecard-data-2016

We have made a short description of a key performance indicator in the column Description, so those who are not familiar with this field can also use the hr analytics template.

In column Performance, you will see the sub-KPI’s value that we track in a percentage format.

The question justly arises: How to calculate the 54% rate in the Total Performance line (Employee turnover group)? We have mentioned at the beginning of the article that this is a group performance indicator.

The calculation is as follows:
(3*30% + 2*70% + 3*80% + 3*4%) / 7 = 54%

And with this, we are done with the calculation part of the human resource KPI scorecard. And now we only have to do is to create the design.

Finally, let’s summarize the phrases used in the making of the dashboard. The knowledge of these can be helpful in our future work.

Human Resources KPI Scorecard – Indicators

Employee Turnover

Cost per Hire: The sum of advertising and marketing fees, employee referrals, relocation expense, recruiter salary, and any other expenses incurring until hiring, divided by the total number of hires.

Turnover Cost: It refers to the cost of replacing an employee who leaves the company. The costs of recruiting a new employee include hidden expenses like the time it takes to train the newcomer to the same productivity level.

Turnover Rate: The primary formula for turnover rate percentage is the number of separations divided by the average number of employees in the given month. Partitions include employees who quit, are dismissed, move to another business, or retire.

Time to Fill: One crucial element in measuring the efficiency and effectiveness of the recruiting function is to measure the time it takes to fill a vacancy. In order words, it means the number of days spent between publishing a job post and receiving a signed employment contract.

Recruiting

Vacant Period: Number of overall days the positions were vacant
New Hires Performance Appraisal: Average performance appraisal of new hires, in comparison to the previous period

New Hires Performance Appraisal: Evaluation of new employees’ average performance. Newcomers are usually evaluated before the end of the probation period so that the employer can decide whether they want to extend the contract with the employee or terminate the employment.

Turnover Rates of New Hires is the ratio of total turnovers among employees hired in the last 12 months to the total number of employees engaged in the previous 12 months.

Financial Impact of Bad Hire: A bad hire can negatively impact a company from many aspects. On the one hand, the company pays an employee’s salary, benefits, and hiring costs that do not meet expectations. But, on the other hand, when this employee leaves the company, they most likely need to hire a new one which loads additional hiring costs.

Retention

Preventable Turnover: This indicator refers to the rate of those turnovers that could have been evaded with better management, expressing expectations more clearly during the hiring process, or creating an appealing workplace atmosphere. (When the reasons why the employee leaves are out of the company’s control, we talk about Non-Preventable Turnover.)

Diversity Turnover: This metric describes the rate of turnover in a given group of employees (based on gender, race, or age distinction) compared to the number of all turnovers in the company.

Financial Impact of Employee Turnover

Learning and Growth Opportunities: This metric shows the percentage of employees satisfied with the learning and training opportunities and the career prospects provided by the company.

Job Satisfaction: This indicator shows the average satisfaction of the employees of the company. So, there are many different approaches to measure employee satisfaction with varying questions and weights. The most commonly used aspects are communication with managers, cooperation with colleagues, working conditions, salary, and benefits.

Conlusion:

As you can see, using our Human Resources KPI Scorecard, one can easily present a fancy, appealing insight on the most important and generally used HR measurements. Finally, You are free to change both the weight and the percentage of any indicators. Likewise, the gauges and the people bar charts will adjust accordingly.

Download our Human Resources KPI Scorecard in Excel! Then, follow this link and play with our new excel template!