It was the first day of my first internship in college. When I walked in the doors, my boss gave me a brief, 20-minute rundown on how the organization was structured, what my role entailed, and what my first assignment would be.

Then, I found my cubicle and got to work … feeling both largely unprepared and frustratingly secluded.

Who was on my team? Wasn’t I supposed to meet them? Were there other interns, and where were they? And what was the culture like, really?

It was an internship, but nonetheless, it quickly taught me the importance of onboarding.

Almost 70% of employees are more likely to

stay with a company for at least three years

after a great onboarding experience.

Ultimately, your company’s onboarding experience is your employees’ initial introduction to the company.

If you don’t implement a memorable and helpful onboarding process that fully integrates new employees into your company, you risk higher turnover rates and less productive teams.

To ensure your new hires remain thrilled by your company and engaged in their roles long after the initial onboarding process, take a look at our onboarding checklist.

Onboarding Checklist

An onboarding checklist is one of the easiest ways to ensure your onboarding process includes all the necessary elements to fully integrate new employees into your company. However, it’s important to note, onboarding isn’t one-size-fits-all — a junior copywriter is going to need different tools to succeed at your company than a new marketing director.

While onboarding will vary for each employee, there are a few components you should include for any new hire.

The following onboarding checklists are for managers or HR departments to use when they are helping a new hire integrate into the company. Of course, certain tasks, such as necessary paperwork or required reading, will differ depending on the company or role.

Before The First Day

Gather the necessary paperwork (e.g. W-4, I-9, and insurance forms, direct deposit forms).
Ask your new hire to review your company’s employee handbook and sign a non-disclosure agreement.
Prepare a workstation for your new hire.
Gather the necessary tools, such as a computer, and/or access to any required software.
Provide your new hire with a company email.
Give your new hire any relevant reading material, including company-wide policies and procedures, an organization chart, and a description of her role, as well as the company’s values, mission, and culture (unless this is included in employee handbook)

Before the first day, you might also consider leaving a note on your new hire’s desk, welcoming them to the team. Perhaps you can share any branded material, like a sweatshirt or mug, as a welcome gift.

Additionally, consider sending your new hire an email, cc’ing all team members, welcoming them to the team.

On The First Day

Provide your new hire with all necessary information, such as your dress code, where they can park, what time they should arrive, and what they should bring.
Prepare your team ahead of time — let them know your new hire is arriving so they can greet her when she gets to her workstation.
Reserve time on your team’s calendar for a “Welcome” lunch for the new hire, and tell the new hire ahead of time.
Give your new hire a tour of the office, including bathrooms, kitchen, and support desk.
Set up a meeting between the manager (if not you) and new hire, so the manager can introduce herself, explain how the department is structured and how one-on-one’s typically go, and answer any questions.
Assign the new hire a mentor and ask mentor to set up a time to have lunch with the new hire.

The first day will vary depending on how many new hires your company onboards at one time — one new hire, of course, will require a different process than a group of 30.

However, it’s important to keep your new hire busy and engaged. You don’t want her to feel awkward sitting at her desk waiting for instruction. You want to demonstrate you’ve taken the time to plan a full, productive day for her.

To keep the employee engaged and excited, you could give her a “30-day plan”, which might include:

Names of people you suggest she reach out to for lunch or coffee. These are likely people she’ll be working with closely, or people you believe can offer her guidance.
Reading material that will help her succeed in her new role — if she’s the new social media manager, perhaps you can include blog posts about social media you’d like her to read.
The manager’s expectations for her first month (i.e. “I’d like you to brainstorm and present one marketing video campaign idea by the end of this month”).

During Week One

Consider asking both new hire and manager to take the DiSC, if they haven’t already — understanding work personalities can help meetings and projects go more smoothly.
Within first few days, assign the first project to your new hire. This will help her feel like a valuable asset to the team and allow her to become more comfortable in her role.
Ensure all required paperwork is filled out.
Review employee performance evaluations and set goals for the first month.
If necessary, set aside time to teach new hire how to use any new software.

As a manager, it’s critical to keep your schedule open if you’re solely in charge of your new hire’s integration into the new team. Take the time to thoughtfully consider one-on-one lessons you can set up to acclimate your new hire to your software or work processes.

Additionally, keep her educated on what’s happening with the larger team. Ask her if she wants to sit in on meetings that, while not directly relevant to her at the moment, might be useful to her as she grows in her role. This may also help her get a better sense of what your team does and what kind of culture your department fosters.

Ultimately, it’s critical she has a firm understanding not just of her own role, but how her role fits into the company as a whole.

For the First Month

Set up weekly meetings to give your new hire constructive criticism regarding her first couple assignments.
Provide her with additional reading material as you see fit — perhaps you suggest books related to her role or articles you feel will help with her professional growth.
Check that she is meeting the appropriate people and getting lunch or coffee with core members of the team
Ask for feedback from the new hire(s) — if its a large group, offer the option to fill-out an anonymous survey. If you have only one new hire, simply ask her what else she needs to succeed or what she wishes the company provided.
Organize a team outing to help the new hire bond with the team — if dinner is difficult to plan, consider getting lunch with the team away from the office.
Ask her mentor to check-in with her.

During the first month, it’s important your new hire has a firm understanding of what’s expected of her and who she can turn to for guidance.

Additionally, your new hire likely has particular preferences regarding how she’d like to be managed. After providing constructive feedback during each one-on-one, ask her if she has any feedback for you as her manager.

Towards the end of the initial onboarding process, ask new hires to fill out a survey regarding the onboarding process. Your HR team can use these suggestions to alter the process for future employees.

While we’ve only covered the first month, it’s important to note studies have shown companies with less than one month dedicated to onboarding are 9% less likely to keep first-year employees than companies with longer processes.

Your new hires need time to fully acclimate to their roles and the company culture. A good time frame is roughly one to three months minimum, but some companies choose to implement an onboarding process that lasts a full year.

Ultimately, a good onboarding process will take into consideration both what your team needs from your new hire, and what your new hire needs to succeed in her role. It might require flexibility and patience, but it’s worth it if you can show your new hire she’s a valuable asset to your team. You can also adjust your strategies as you learn more about her strengths and weaknesses.

Editor’s note: This post was originally published in January 2019 and has been updated for comprehensiveness.

Original Source: blog.hubspot.com

What are Human Resource Metrics?

How do you quantify the costs and impact of employee programs and HR processes? By using Human Resource metrics. Employing human resource metrics in your business is a great way to measure the progress (or demise) of your HR actions. It can uncover your business’ strengths as well as its vulnerabilities — giving you much-needed information on areas that need focus, improvements, and capitalization.  HR metrics are priceless and most modern HR programs can help you seamlessly integrate these into your day to day HR functions.

Why HR Metrics are Important?

How well informed are you about your own business?

Whether your company is going to be successful or not depends on how you develop and utilize the effect of human resource metrics. A business, big or small, has a lot of things going on. Unfortunately, resources like time, money, and talent are finite. HR metrics can help a company focus its resources on what’s more important. It also helps drive improvements.

Metrics vary from one company to another. Whatever the analytics you are tracking, you must make sure that your metrics reflect and support your organization’s goals and strategies (i.e. marketing, finance, standards, customer requirements, safety, and competition.

In short, metrics will help tell your business:

Where it has been
Where it is going
When your business has reached its target
When something is going wrong

Good HR metrics will:

Drive overall performance
Give direction to the business
Help managers make informed decisions
Product good internal and external relations
Evolve with the business

Don’t know which metric to use? We’ve compiled the most common HR metrics that you can use in your business today. Read on below!

HR Metrics that Track Employee Performance and Productivity
1️⃣ Profit per Employee

To measure whether you are overstaffed or understaffed.

How to calculate:

 About 90 % of job candidates prefer a company that is managed by the principle of transparency. 
2️⃣ Health Care Costs per Employee

To give you an idea of how much of your company’s budget is going to your employees’ health insurance costs.

How to calculate:

 Health care costs per employee = Total health care costs / Number of employees signed up for health care 
3️⃣ Average Time until Pay Increase or Promotion

To help you measure the average time it takes an employee to receive a pay increase or promotion.

How to calculate:

 Average time until promotion = Date of pay increase or promotion – hire date 
4️⃣ Scheduling Match

Perfect for shift-based businesses like restaurants and retail shops, this metric can help you determine whether or not the number of hours worked is in line with the number of hours scheduled — giving you a measurement that relates to overstaffing and understaffing.

How to calculate:

 Scheduling match = Number of scheduled hours / Number of hours worked 
5️⃣ Billable Hours per Employee

Perfect for businesses that bill out to the client (i.e. marketing firms, law firms, project management firms, etc.). This metric helps you figure out whether your staffing is in line with your client needs or not.

How to calculate:

 Billable hours = Billable hours / Total hours worked 
6️⃣ Cost of HR per Employee

This efficiency metric refers to how much you pay your HR team for activities like recruiting, onboarding, and managing versus how many total employees your business has.

How to calculate:

 Cost of HR per employee = Total HR salary and benefits / Number of employees 
HR Metrics for Small Businesses
7️⃣ Revenue per Employee

To determine how valuable your employees are to your business.  This metric will help you justify the employment of your workers.

How to calculate:

 Revenue per employee = Total revenue / Total number of employees 
8️⃣ Employee Turnover

A perfect measure of how happy your employees in working with you. This number can give you insights into looming staffing or management issues.

How to calculate:

 Turnover rate = Number of employee terminations / Average number of employees 
9️⃣ Job Satisfaction Rate

Like a customer satisfaction survey, the job satisfaction rate can be determined using any kind of scale. The secret here is to compare your employees’ progress against a baseline to see if satisfaction has improved or not over a certain period.

How to calculate:

 Job satisfaction rate = Number of people who report being satisfied / Total number of employees 
1️⃣0️⃣ Length of Service

This is another measure of employee happiness. A good number means that your business is stable, your workers are happy and efficient, and you have lower hiring costs (since you don’t have a lot of employees to replace).

How to calculate:

 Length of service = (Today’s date – Employee’s hire date) ÷ 365 
1️⃣1️⃣ Absenteeism

Employees who have work, health, or home issues take time off more often. This makes absenteeism a great HR metric to track employee health and wellness. Normal absenteeism rates across industries are at 2.5%.

How to calculate:

 Absenteeism = Workdays missed / Total workdays scheduled 
1️⃣2️⃣ Overtime Percentage

Most businesses don’t want to pay overtime because they are more expensive. More employees on overtime can highlight some scheduling or staffing issues inside your company.

How to calculate:

 Overtime percentage = Overtime pay amount / Total payroll 
1️⃣3️⃣ Cost per Hire

One of the best HR metrics to determine how much you are paying to recruit, hire, and onboard new employees.

How to calculate:

 Cost per hire = All recruiting and HR staffing costs / Number of new hires 
HR Metrics for Employee Development
1️⃣4️⃣ Innovation

This is measured in terms of the number and quality of ideas. Innovation, as a metric, is a great way to track progress if you have a team dedicated to developing new products or better ways to do business.

How to calculate:

 Innovation = Number (or value) of successful product or process ideas / Total number of suggestions 
1️⃣5️⃣ Above Average Performance Management Ratio

Based on your performance review, this metric measure how many people are performing at a high level.

How to calculate:

 Above-average performance management ratio = Number of employees rated above average / All employees 
1️⃣6️⃣ Time to Productivity

Calculated as a time frame (days, weeks, or months). This management metric determines how long it takes a new hire to become 100% productive.

 Time to productivity = Date new hire hit the target (as defined in your performance management system) – New hire start date 
1️⃣7️⃣ Training ROI

This metric answers the question: “is our training worth it?”

How to calculate:

 Training return on investment (ROI) = Cost of employee training / Value of increased performance 
1️⃣8️⃣ Training Spend per Employee

Determines how much you are spending training your employees.

How to calculate:

 Training spend per employee = Total training costs divided by / Number of employees 
HR Metrics for Hiring  
1️⃣9️⃣ Employee Referral Program Success

For companies that use employee referral programs when recruiting, this the metric to go.

How to calculate:

 Employee referral program success = Number of referrals / Number of open jobs 
2️⃣0️⃣ New Hire Fail Rate

This determines how many employees leave after getting hired. You can measure this based on a certain time frame such as 120 days after hiring.

How to calculate:

 New hire fail rate = Number of new hires that quit or are fired / Total new hires in that time frame 
2️⃣1️⃣ Ghost Rate

This HR metric measures the number of job candidates who accepted the job offer but did not show up to work. Ideally, your ghost rate should be zero.

How to calculate:

 Ghost rate = Number of candidates who fail to show up on the first day / Total hires 
2️⃣2️⃣ Offer Acceptance Ratio

One of the simplest HR metrics that track how many job candidates accepted the offer versus how many rejected it.

How to calculate:

 Offer acceptance ratio = Number of offers accepted / Total job offers extended 
2️⃣3️⃣
Annual Recruiting Costs

This metric measures the efficiency of your recruitment process — cost-wise. Recruitment costs also include the work hours of your HR team.

How to calculate:

 Annual recruiting costs = Total off all hiring expenses the year (software + advertising + fees) 
2️⃣4️⃣ Time to Hire

For some companies, the recruitment process can take too long. To save time and money, aim for a recruitment process that takes 4-6 weeks or less.

How to calculate:

 Time to hire = Start date – Date of the first interview 
Conclusion

Today, data is king. HR metrics provide valuable insight into your business’ strengths, key areas to focus, and weaknesses. Before deciding on what HR metrics to use for your business, ask yourself these questions first:

What am I measuring?
What outcome do I want?
What number do I want?

And don’t forget these methodologies when setting up your metrics:

Identify what HR functions directly align with corporate strategy by assessing business requirements.
Identify measurement areas. This is done by aligning business goals with HR objectives and actions.  From this, you will ascertain three-five KPI’s.
Get the raw data, calculate and translate. Greater insight is achieved if you can segment the data by different dimensions (such as demographics, organization structure, functions, employment levels etc).
Analyze the data, evaluate and report on the metric.

CakeHR can seamlessly integrate the metrics you’ve chosen into your various HR processes.

Want to check how you are doing?

The app’s HR metrics dashboard displays all the information you need so you can steer your business towards the right direction anytime.

Diana.

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CakeHR is a one stop shop for your HR management needs. With attention to user experience & making the software easy to use yet packed with loads of features we strive to make your HR management as easy as a piece of cake!

The post 24 HR Metrics That Can Make a Difference in Your Business Today appeared first on CakeHR Blog | Easy to implement HR tips!.

Original Source: blog.cake.hr

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