Chapel Hill, N.C. -- Leading human resources managers find key HR performance measures are critical to sound decision-making and that effective measurement leads to performance improvement, according to a groundbreaking study from Best Practices, LLC.
A study from the benchmarking form reveals the measures leading companies use to effectively manage employee development, rewards and recognition, recruitment and selection, and employee satisfaction and morale.
"Developing Human Resources Performance Measures,” unveils the most important gauges and management practices employed by more than 30 benchmark companies. The study also identifies performance targets and the importance rating of various performance indicators. For example, a leading financial services company uses a scorecard to track worker productivity. Sample scorecard categories include percentage of error free sales, conversations per hour and percentage of cross sales.
Based on exclusive interviews with HR executives, the report includes the following tools to help human resources organizations implement or improve their performance measurement systems:
- A summary matrix that details each benchmark partner's performance measures;
- Detailed best practices to help determine the optimal methods for implementing performance measurement; and
- Key performance benchmarks, as identified by interviewed executives at the world's top companies.
Companies profiled in the report include:
- Federal Express
- General Electric
- Northern Trust Company
- Ritz-Carlton Hotels
- Texas Instruments
- The U.S. Department of Transportation
"The old adage, 'What gets measured is what gets managed,' is no exception for human resources organizations," says Chris Bogan, President and CEO of Best Practices, LLC. "World-class companies realize that their people are their most valuable asset, and they are using an array of HR performance measures to make tremendous improvements in all areas of human resources."