Last week ASHHRA met in Tampa, FL and HR Executive hosted their HR Technology show in Chicago. Metrics received a lot of attention in both shows with good session attendance and sidebar conversations. Recent blogs about HR Metrics include Upstart HR “Two ways to make your HR metrics rock”, FOT’s “HR Metrics Gone Wild” and Kim’s HR Potpourri “HR Metrics Isn’t Voodoo”. HR and Talent Metrics can cover hundreds of things but are most effective when they are focused on a dozen critical factors. Knowing your business goals will lead you to your critical talent metrics.

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Based on these recent conversations, one of the critical factors to measure is if your talent plan is meeting the needs from your workforce plan. In order to have an effective talent management solution you need to know your organization’s business strategy and goals and compare them to your current employee numbers and skills. HR technology can help with capturing data and reporting, but only you can know which data should be closely monitored based on your organization’s goals. In one session, Novartis talked about using a statistician to align a workforce plan with their business goals. In a session run by PwC Saratoga, it was recommended to combine metrics and surveys to give you the most accurate picture of your talent effectiveness. At the NAHCR show earlier this year, Lean Human Capital had an extended session on how capturing the right metrics can help you get budget to meet the business goals.

Here are some common talent questions to ask and the metrics you could use to monitor the results:

    • Do you have the right staff to meet your business goals/strategy in the next 1 – 3 years?

    • Metric: Inventory current skills against skills needed in the future.

    • Is your hiring bringing in the right skill, quality and cultural match to meet your business objectives?

    • Metric: 90 day and 1 year voluntary turnover rates

    • Are your internal development efforts achieving the goals of reducing turn over?

    • Metric: Internal hiring numbers and voluntary turnover rates compared to industry benchmarks

    • Are we managing our talent needs or just reacting?

    • Metric: Do you have a pipeline of candidates for critical jobs?

    • Does your hiring process have a bottleneck slowing your time to hire? Are you hiring efficiently?

    • Metric: How many applicants are routed to a hiring manager per actual hire.

    • Metric: How long does each step in the hiring process take?

    • How much does it cost my organization each day a key role is unfilled?

    • Metric: Many roles in hospitals require hard dollars to be spent to cover an unfilled or short staffed position. Capture that cost and multiple by the number of days to fill the position.

The one discussion no longer happening at HR shows is how HR gets a seat at the table. The answer was the Executive team cares about meeting the business goals and HR should align their strategy to meet those business goals. When HR has data to share that is relevant and impactful to meeting business goals, the Executive team will invite them to participate. Spend the time to find your right metrics, then collect the data, monitor regularly and adjust your talent strategy accordingly.

Use the upcoming HealthcareSource User Conference to talk with other organizations about how they are tracking and monitoring data to insure their talent strategy is meeting the business goals.

About The Editorial Staff

The Editorial Staff is a team of writers with a passion for helping healthcare organizations manage their biggest and most important investment: their employees.