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Trip: MBA Assignment Help on HR Metrics
Monday June 4 2018 06:04:57 AM
Date: from Jun 4, 2018 to Jun 4, 2018
Surf trip description:
Human resources strategy should be linked to the business goals and objectives and employee performance appraisals should be tied in with business plan and goals. It is found through research that productivity is increased with an HR metrics system in the organization (Fitz-Enz, 2010). According assignment help Australia, Employee Productivity, Employee Attendance, Employee Engagement, Turnover, Rewards System, recruitment and Retention are several new HR metrics that should be meet with the overall business plan (Becker & Huselid & Ulrich, 2001).
Challenges of implementing HR metrics
There are various challenges to implement a new HR metrics such as high investment, continued use of legacy metrics and accessibility of value-added metrics. It is costly and need high investment to implement a new HR metrics.
Overcome on this challenge
This challenge can overcome through reducing wastage and saving costs. HR metrics go beyond the commonly-used cost-per-hire and time-to-fill calculations. Through this, organizations would get benefits in the form of assessing the problems in the hiring process and improving efficiency of recruitment process. Along with this, by reducing new hire turnover, organizations can reduce wasted efforts and costs that are involved in hiring process (Fürst, 2003). For example, in order to fill the post of a supervisor, business organization can recruit a fresher or less experienced candidate or employee. It would be helpful for the company to reduce cost in hiring processes. In this way, a company can effectively reduce the costs that are associated with the high investment of organizations (Becker & Huselid & Ulrich, 2001).
Through the cost-to-proficiency calculation, organizations can calculate the wasted wages paid to all of the employees who left during their first 90 days. Organizations can save the cost of hiring and training through the implementation of new HR metrics. At the same time, by defining, capturing, and analyzing staffing data to document, high investment can be reduced properly (Fitz-Enz, 2010). For instance, business firms can recruit lower level employee from internal sources in order to fill vacant post. It can be helpful in reducing cost of company effectively. It means, if a company recruits the employees from the internal process, this would be beneficial for the company in minimizing the high investment (Cascio & Boudreau, 2010).
Apart from this MBA assignment help, it should also be noted down that by improving the screening and interviewing process, business organizations can ensure a great organizational fit before hiring. In the same manner, high investment can also be minimized by improving training programs or implementing mentoring systems, because it would help in new hires succeed and reducing this turnover (Fürst, 2003). In this way, it is identified that by using different systematic and effective strategies, companies may overcome high investment challenges of implementing a new HR metric. For example, through providing technical training and development programs for new and existing employees, business organization can reduce the investment that can be helpful in minimizing organizational costs. Hence, by providing effective & proper training to all the employees, company can reduce high investment (Becker & Huselid & Ulrich, 2001).
Becker, B. & Huselid, M. & Ulrich, D. (2001). The HR scorecard: Linking people, strategy, and performance. USA: Harvard Business School Press.
Cascio, W.F. & Boudreau, J.W. (2010). Investing in People: Financial Impact of Human Resource Initiatives. USA: FT Press.
Fitz-Enz, J. (2010). The New HR Analytics: Predicting the Economic Value of Your Company's Human Capital Investments. USA: AMACOM Div American Mgmt Assn.
Fürst, R. (2003). Implementing New Information Technology: Dealing with Management and Employee Rejection. Germany: GRIN Verlag.
Modified: Monday June 4 2018 06:04:57 AM