Staffing Metrics
This article covers meaning & overview of Staffing Metrics from HRM perspective.
What is Staffing Metrics?
Staffing Metrics essentially are indicators of staffing performance. Good metrics need to be:
- In tandem with the organisational goals
- Trackable
- Consistent
- Actionable
Predominantly there are four broad functional areas which are measured:
- Productivity : The Unit of Service or the UOS is a commonly used metric which is basically calculated by dividing the number of things an employee does in a period of time with the total number of working hours in that period. Unproductive employees increase costs for the organisation and improving efficiency becomes very important.
- Cost of Labor: The common metrics used include overtime costs, per unit costs of labor, cost of unproductive labor, payroll costs etc.
- Satisfaction levels: Employee and Customer satisfaction are metrics which are determined using research surveys.
- Retention: It is important to retain existing employees by providing them opportunities to grow as hiring new employees involve a cost. The annualized turnover rate is a common metric used.
- Level of Recruitment: The costs involved and the time taken to recruit new employees are metrics used here.
Browse the definition and meaning of more similar terms. The Management Dictionary covers over 1800 business concepts from 5 categories.
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