Human resource (HR) management is an essential component of any company, big or small. HR departments use various tools to analyze the overall business performance, define objectives, and set goals and milestones for the company and the staff. This data analysis can be done through the use of Key Performance Indicators (KPIs), which are part of the HR metrics framework. This framework takes into account many other parameters, including employee engagement and compensation, turnover, learning and development opportunities, etc.
In the post-pandemic work environment, these KPIs and the other metrics have gained even more importance due to the scattering of teams. Remote working teams pose a set of unique challenges that require metrics for employee performance and metrics for employee engagement, among others.
This article delves into key HR metrics for remote staff. HR teams and managerial staff can perhaps get the most benefit out of this piece, which contains tips on how to use KPIs for more efficient management to boost the teams' performance.
KPIs are far more than a 'bunch of numbers on a spreadsheet,' as some people refer to them. Rather, KPIs are powerful, dynamic tools that help you measure and understand the busines' health and performance. When used correctly, those numbers can help key stakeholders to make strategic and decisive choices and decisions that translate into strategic achievements for the business.
There are five reasons why KPIs are important:
These reasons wrap themselves into Specific, Measurable, Attainable, Relevant, and Time-Bound (SMART) KPIs that help the management layer assess employee and company performance.
But SMART KPIs are only good as long as they help the company attain its strategic goals, and this is where the two concepts, KPIs and goals, intersect. In simple terms, goals are the desired outcome, and KPIs are the metrics that measure the progress toward achieving those outcomes.
The era of remote work comes with a set of challenges, particularly in terms of maintaining cohesion, morale, and productivity. Regarding productivity, the focus should not be on counting the hours or days it took to complete a project or working to a strict schedule. Instead, the focus should be on completing the project according to the client's specifications. How the team achieves this is up to the team itself, the manager should be there to ensure the team has all the tools and the support they need to achieve this goal.
To this end, a monthly productivity check keeps everyone in sync and ensures that the deadlines, client specs, and other factors are clear for the team.
This is one of the most basic KPIs, but the challenge is determining exactly what the client is satisfied with. Is it the project delivery time? Is it quality? Business impact? These parameters can differ wildly, too, depending on the actual industry that the client is involved with.
In any case, the management layer must emphasize this KPI and ensure that it is tailored to the client's needs, industry, and specifications.
When jobseekers consider applying for a particular role in a specific company, they consider many things. Competitive remuneration, pension entitlements, and medical insurance are just components of the basic package. In the current work-from-home (WfH) productivity paradigm, candidates have become far more discerning. They expect that WfH is an option (rather than a perk, as it used to be treated in the past and usually only reserved for a few privileged employees), and they expect to have company-sponsored opportunities for professional and educational growth. Part of this is learning and development programs that enable employees to grow personally and in their roles. These programs can be in the form of access to online educational platforms, educational assistance, or both.
Some say that engaged employees are happy employees. This is easy to see and understand, as an employee who's disillusioned or dissatisfied in the role or company is unlikely to become overly engaged.
The company should have strategies in place to promote this engagement, and there are many approaches to do this. Companies like ALLSTARSIT create the right conditions to support employee satisfaction, and this includes promoting engagement through charitable initiatives, visits to local animal shelters, workations, and much more.
Though a competitive remuneration package is of course a key consideration when applying for a particular role, money is no longer the be-all and end-all of today's work environment. Currently, the financial aspect is only part of the overall offering. Perks like learning and development opportunities are also very much sought after by prospective candidates.
Still, the onus is with HR departments to ensure that the remuneration being offered is competitive and, if the budget allows it, above the market average.
Measuring and reducing turnover is another key part of human resource metrics. Reducing the turnover rate should in fact be integral to the overall HR strategy.
Again, ALLSTARSIT is a leader in employee retention and satisfaction, with a 90% and 96% respectively.
Finding the right talent for the right job can take time and effort. It takes a dedicated and passionate team to do it, a team and a business with strong brand recognition and knowledge of the local legal framework. All these things come together in AllSTARSIT. We have mastered the recruitment process so you can spend your time on something other than it. Plus, we offer an industry-leading range of benefits & perks. All our clients have to do is present an exciting project, and we care for the rest.
See our Expertise page to learn more about the hiring process industries we work with, and read some client reviews.