human resource kpi scorecard x18

Human Resources KPI Scorecard Template using typical hr kpi metrics and excel gauges. In this tutorial we will use four essential group of performance indicator in area of HR. Employee turnover, Recruiting, Retention finally Training and Development.

What is the 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, administer payroll, follow-up work performance, ensure that employees receive the necessary trainings for their development.

In order to measure particular activities of the company and the employees, HR has to set up Key Performace Indicators that show whether given goals have been met.

HR Dashboard – A Clooser Look

Let’s take a closer look at the figure below. We will use custom infographics (people graph style) to display and manage your hr related decisions!

We created a speedometer section to display eye-cathing dashboard visualization for the main KPIs using an interactive excel dashboard.

Check the formulas to see how it work! How to calculate the sub KPIs?

Choose your KPI so you will see the value of sub KPIs. Our Human Resources KPI Scorecard is free as always!

The Weight column can be filled with values between 1 and 10 according to the importance of the displayed value. As perfect 1 represents the least important value in the company. 10 is the most important in the given field.

human-resource-kpi-scorecard

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

Unfortunately onto the picture couldn’t be placed the help table in its entirely so out of the four key performance indicator only the first and last one is visible in details.

human-resources-kpi-scorecard-data-2016

In the column Description we have made a short description of a key performance indicator so those also can use the human resources kpi scorecard who not familiar with this field.

In column Performance the given sub KPI’s value can be seen that we score in percentage format.

The question justly arises, how did we calculate the 54% belonging to the Employee Turnover can be seen in the Total Performance line? We have mentioned in 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 make the short summery of the phrases used in the making of the human resources kpi scorecard. The knowledge of these can be useful 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 costs 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. Not only are the costs of recruiting a new employee included but also 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 in the given month divided by the average number of employees. Separations include employees who quit, are dismissed, move to another another business or retire.

Time to Fill: One important 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. The longer a position remains vacant, the greater the disruption to productivity.

Recruiting

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

New Hires Performance Appraisal: Evaluation of new employees’ average performance. Newcomers are usually evaulated 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: It is calculated as the ratio of total turnovers occurred among employees hired in the last 12 months to the total number of employess hired in the last 12 months.

Financial Impact of Bad Hire: A bad hire can have negative finanical impact on a company from many aspects. On the one hand the company pays the salary, benefits and the hiring cost of an employee that does not meet the expectation. On the other hand when this employee leaves the company, they most likely need to hire a new one which loads additional hiring costs on the company.

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 is 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 of all turnovers in the company.

Financial Impact of Employee Turnover

Learning and Growth Opportunities: This metric shows the percentage of those employees who are 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. There are many different approaches to measure employee satisfaction with varying questions and weights. The most commonly used aspects are communication with managers coopeartion with collegaues, working conditions, long-term career opportunities, 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. You are free to change both the weight and the percentage of any indicators, the gauges and the people bar charts will change accordingly. I hope you will find this tool useful.

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