21407 Lecture Notes - Lecture 5: Strategic Management, Bet Her, Full-Time Equivalent
Document Summary
Metric = a quantified measure made over time, communicating vital info about the quality of a process, activity or resource. Hr metrics = measures as hr performance indicators (tracks performance) Actionable and predictive (must make company better corrective action) Capable of being tracked overtime/can be compared internally and externally. Accuracy and linked to strategic and operational objectives (most important) Can be used to drive hr management efforts. E. g strategic direction, cultural change (hr department engaged in ideas: transformational (long-term focus today"s organisation(cid:524, traditional (reactive focus on history = not good predictor of. E. g. staffing, compensation (focus on operations meeting the future) profit goals: transactional (compliance) Hr professionals must adopt a system of metrics for performance that will: Enable effective decisions to be made regarding value creation in orgs. Make better decisions and address the trend toward value reporting. Quantifies the value of hr and guides workforce strategies. Improvement process = measure understand control .
