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sample of kpi for compensation and benefits

Listens and responds constructively to other team members’ ideas. The development of KPI metrics help to create measurement systems, information systems throughout the organization. An easier, effective method of 360-degree feedback collection from peers, upward, downward and customers too. : As an organization, you want to ensure that the dollars you are putting into training your employees is paying off. Works cooperatively with others to produce innovative solutions. Recognizes and encourages the behaviors that contribute to teamwork. : The number of D&I initiatives implemented measures organizational commitment to establishing and maintaining a culture of diversity and inclusion. Once you’ve successfully aligned your human resources KPIs with the organization’s goals in a scorecard, you’ve still got work to do. : Evaluates employee engagement in improving business processes, and reflects on the openness of a company to employee input. Expresses ideas clearly and concisely in writing. Improve absenteeism – The absenteeism KPI measures the extent to which employees show up for work every day. Turnover Rate – The percentage of posts within the firm that were vacated over one single year. Prepares a personal development plan with specific goals and a timeline for their accomplishment. : Helps show the company attitude toward a healthy work-life balance. Total Expense: Benefits per Benefits Employee – The total dollar expenses in offering benefits services during the preceding year, divided by the total number of benefits employees at the culmination of that year. Sets specific, measurable goals that are realistic but challenging, with dates for accomplishment. Attitude – Employee smiles while in the workplace. AUDIT REPORT COURTS ADMINISTRATION SERVICE 4 Audit of Internal Controls over Salaries and Employee Benefits . By OpsDog in Benchmarking, Data Analysis , HR ... HR Department employees are typically responsible for recruiting, hiring, employee relations, compensation and benefits management/administration, payroll processing, training and development, and strategic human capital management operations. : This ratio measures how many people already working at a company are considered for internal promotion versus the number of externally attracted people. Since HR departments typically aren’t included in the strategic planning process, creating an HR scorecard is a way to expose the department’s contributions in concrete, clearly understood metrics at the executive level. Applies a theoretical framework to understand a specific situation. The training and development office aims to boost the firm’s performance by teaching and constantly developing employee skills. Headquarters: 810 5th Avenue, Suite 200 San Rafael, CA 94901 Phone: (415) 461-2586 Belgium Office: Barbizonlaan 20, 3090 Overijse They enjoy their work and are committed to working together to achieve the company’s goals. Questions others to assess their confidence in solving a problem or tackling a situation. Capacity to communicate coherently in business writing. The strategy paper defines key remuneration components and the role of the component in the system. : This measure keeps tab on the amount of low-performing employees in an organization. Seeks the perspective of everyone involved in a situation. Percentage of Workforce below Performance Standards – The number of workers who fail to satisfy the established performance standards for their position or function. Maintains commitment to goals in the face of obstacles and frustrations. Annual Salary Increase – The percent rise in yearly salary for every staff member working within a specific job … Interpersonal Communications – Employee is comfortable anticipating sensitive issues and communicating with all parties involved. Human Resources key performance indicators (HR KPIs) are metrics that are used to see how HR is contributing to the rest of the organization. Maintains eye contact when speaking with others. This is the number of business days in the payroll process from start to finish. Strengths – Please rate the employee’s overall job strength and provide the areas in which the employee excels. Personally develops a new product or service. Example KPI for KPA 1 = reduce the recruitment cost per head by 10%. : Helps to measure workforce efficiency over time. Using a company-wide survey can be helpful in gauging employee happiness. KPI Benefits Understanding the benefits that creating, tracking and managing your KPI performance bring . Sets up procedures to ensure high quality of work (e.g., review meetings). Weighs the costs, benefits, risks, and chances for success, in making a decision. Ensures that everyone understands and identifies with the unit’s mission. Throughout this process, th… Long term performance and market leadership have seldom been achieved without retaining loyal, hardworking and motivated employees. Time to Start – The average amount of time from the announcement of job opening to the day a new hire starts the job. Posted by Hrformats - July 12, 2011 at 8:25 AM . Identifies the specific information needed to clarify a situation or to make a decision. KPIs not only provide an organization with a focus for strategic and operational improvement, but a way to compare achievements to similar organizations. Manages own behavior to prevent or reduce feelings of stress. In other words, HR KPIs mirror … Employees must use their vacation days. Ensures that the unit develops goals and a plan to help fulfill the business’ mission. Span of Control: HR – The average number of HR personnel reporting to every HR supervisor. By Department. Improve goal performance – The goal performance KPI determines how engaged employees are by measuring the ratio between achievements versus failures. Capacity to exhibit attentiveness, proficiency, and achievement in getting teams to cooperate. Having an informed and invested leadership team has been proven to increase HR budgets and department support. Number of Requisitions Filled: Managers – The total number of managerial level job postings occupied in a specified term. Implementation of change through projects and … Establishes structures and processes to plan and manage the orderly implementation of change. Keeps informed about cutting-edge technology in his/her technical area. Other than the University’s right to cause the Concessionaire to remove the Operator pursuant to Section 3.3(c), the payment of KPI Compensation by the Concessionaire shall constitute the Concessionaire’s sole and exclusive liability and the University’s sole and exclusive remedy for any KPI Event. A healthy work-life balance promotes employee engagement. Rather, you can use this extensive list to get an idea of what like-minded organizations may be looking at, research KPIs from other lists, and then decide upon the critical few KPIs that are in line with your unique strategy. When an HR department successfully lowers the turnover rate, it saves the company from the considerable expense of recruiting, interviewing, and training new employees. Total Expense: Training and Development Expense – Total amount of training and development expenditure for the past year, involving all charge backs to the company. Shares ideas and information with others who might find them useful. Expresses gratitude and appreciation to others who have provided information, assistance, or support. Gives people assignments that will help develop their abilities. Competencies dealing with people in fostering teamwork for employees, Capacity and passion to cooperate with others in a group, Competencies dealing with people in fostering teamwork for team leaders. Can be determined by taking the total price of health care costs divided by all employees. Offers trade-offs or exchanges to gain commitment. : This metric is particularly important for any organization developing a strategic workforce plan. Takes charge of a group when it is necessary to facilitate change, overcome an impasse, face issues, or ensure that decisions are made. External Recruitment Rate – The rate in which posts are filled by personnel not currently employed by the company. Sign up & Evaluate Human Resource Professionals. : Examines the growth in associated workers over time. Competencies dealing with business in strategic thinking. Effectively applies technical knowledge to solve a range of problems. This KPI gauges staffing levels within the HR office. Having an informed and invested leadership team has been proven to increase HR budgets and department support. : Helps determine how successful the talent acquisition process is at finding the right fit for jobs. Competencies dealing with business in entrepreneurial orientation. Develops clear goals for meetings and projects. ***The Choice of HR KPI will vary … Shares information, advice, and suggestions to help others to be more successful; provides effective coaching. Finds ways to measure and track customer satisfaction. Learn everything you need to know about Balanced Scorecards in this article. Adding real-time tracking adds value to the KPI measurement and prevents any long-term negative trends from interfering with organizational success. Being aware of these trends aid in forecasting retirement and planning for workforce replacement. Typically determined through a post-training survey. Capacity to convey oneself coherently in discussions and interactions with others. Diversity of nationalities and ethnicities can be calculated by noting the differences among employee demographic segments. Percentage of Premium Covered (Employee and Dependents) – The percentage of health insurance benefits that are paid for by the firm for plans that protect the employee and his/her dependents. : Dividing the number of acceptances by the number of offers allows organizations to get a sense of how successful their recruitment strategies are. But what is important is that you share both positive and negative results. Recognizes the business concerns and perspectives of others. Identifies and promptly tackles morale problems. Is open with other team members about his/her concerns. Works to make a particular impression on others. It provides the means to monitor workforce indicators, analyze workforce statistics, diagnose issues, and calculate financial impacts. Uses multiple channels or means to communicate important messages (e.g., memos, newsletters, meetings, electronic mail). The Top 25 Compensation and Benefits KPIs of 2011-2012 report is a comprehensive analysis on the most popular HR KPIs … Using one of the HR metric examples from above, minimizing employee turnover frequently appears on scorecards. Sponsors the development of new products, services, methods, or procedures. Understands industry and market trends affecting the organization’s competitiveness. HR KPI … Carries his/her fair share of the workload. Obtain a Compensation and Benefits … Presents a cheerful, positive manner with customers. HR KPIs are strategic tools that can help you understand whether you’re accomplishing your HR objectives in a way that is in line with your strategy. : Determined by calculating the total number of candidates interviewed by the total number of hires in a particular hiring period. Proposes innovative business deals to potential customers, suppliers, and business partners. Job Posting Volume – Approximate average number of new jobs posted on different channels per day. Respects the confidentiality of information or concerns shared by others. Gives talks or presentations that energize groups. This is determined by the difference in percentage of promotors and detractors. Work Ethic – Please rate employee’s work ethic and ability to achieve stated goals and objectives. Stays abreast of business, industry, and market information that may reveal business opportunities. Competencies dealing with people in establishing focus. : The number of HR full time equivalents divided by the total number of full time equivalents. Promptly notifies his/her manager about any problems that affect his/her ability to accomplish planned goals. : The cost of the workforce as compared to all costs can be measured by summing all salaries and dividing by the total company costs within a given period. Seeks out and builds relationships with others who can provide information, intelligence, career support, potential business, and other forms of help. And it is calculated by dividing total revenue by the total number of employees for the pre-defined period. These sample KPIs reflect common metrics for both departments and industries. Controls his/her response when criticized, attacked or provoked. Uses graphics and other aids to clarify complex or technical information. Managers seem to recognize that it is now (more than ever) vital to have the right team executing company strategy. We are looking for a Compensation and Benefits Specialist to oversee and administer the employees perfect rewards and smart benefits. They could involve broad banding, point fact or other means. Ensures that regular, consistent communication takes place. A diverse employee pool results in vibrant, healthy work culture and improves employee engagement. Determined by observing the number of vacation days used as compared to those unused. Conveys a command of the relevant facts and information. Identifies many possible causes of a problem. Competencies dealing with business in forward thinking. Average Resolution Time (ticket open with HR) Average ticket resolution time … Managers check draft reports for correct overtime, paid sick leave and vacation calculations. Recognizes and rewards people for their achievements. Capacity to pinpoint the information necessary to resolve a situation, find that information from the right sources, and use smart investigation to deduce the information, when others are unwilling to reveal it. : Provides perspective on how well the process works from the employee’s perspective. It’s almost inevitable that your measures will change at some point and it will benefit you to get out ahead of this. Note: We’re not suggesting nor advocating for you to begin measuring all of these KPIs. Specifically, HR departments are often responsible for controlling costs by eliminating inefficiencies. HR admin and payroll positions must have KPIs in place to measure and monitor: Accuracy and proper management of payroll data. The Compensation and Benefits policy ensures to manage the employees’ fixed pay and provide various benefits by setting performance standards and maintaining the same for every employee. As such, it's important to revise your KPIs as business objectives evolve over time. Market Survey Data Processing Cycle Time – Average number of days needed to deal with market survey information from the time data is accepted until the time data is compiled, evaluated, and published. Competencies dealing with business in conceptual thinking. It measures how resilient employees are. Knows when to escalate critical issues to own or others’ management, if own efforts to enlist support have not succeeded. Enlists experts or third parties to influence others. Compensation and Benefits KPIs are reflective of HR functions and are grouped into the following clusters such as Fringe Benefits, General Compensation and Other C&B Expenses. Transfer Request Ratio – Number of transfer applications accepted from staff members during the last year divided by the total number of workers at the start of the year. : Reflects on how welcoming the company is to new hires. You will assess personnel needs and draft … Recruiter’s Time Allocation – The average amount of a recruiters time consumed on specific tasks divided by the total expected time. Larger organizations typically have a smaller ratio, but more HR staff overall, than small businesses. Anticipates how others will react to a situation. Demonstrates willingness to take calculated risks to achieve business goals. : Measures how likely an employee is to recommend their organization as a place to work. Uses appropriate grammar and choice of words in oral speech. HR Training Expense as a Percentage Total HR Expense – Total percentage of expenditure associated with employee training and advancement compared to the total HR division expenditure. Presents arguments that address others’ most important concerns and issues and looks for win-win solutions. Total Headcount: Generalist – Total number of HR generalists, both in main and business groups’ HR divisions at the end of the preceding year. Selects stories, analogies, or examples to illustrate a point. Consistently looking at the scorecard will ensure it stays relevant and top of mind for the HR department. Competencies dealing with people in building collaborative relationships. Limited-Time Special: Download All Products Today 60% Off >> Rated #1 Excel Dashboards, Scorecards and KPIs Reports. Mistakes in creating compensation & benefits manager KPIs Building KPI system plays an important role in evaluating job performance of individual parts, divisions and the company’s objectives and performance management system in general. Seeks performance feedback from his/her manager and from others with whom he/she interacts on the job. Competencies dealing with business in decisiveness. : This is the percentage of candidates remaining after each round of elimination in the hiring process. Expresses pride in the group and encourages people to feel good about their accomplishments. A high percentage suggests that the right people are being hired, but not embraced. Business Pool to Individual Compensation Cycle Time – Average number of days from the point the business group remuneration pool is determined until individual compensation selections are made. Is willing to speak up to the right person or group at the right time, when he/she disagrees with a decision or strategy. Personally develops a new method or approach. Capacity to establish, promote, or encourage the introduction of advanced techniques, products, strategies, or machineries. Involves others in a process or decision to ensure their support. 9am – 5:00pm EST Routinely walks around to see how people are doing and to hear about any problems they are encountering. Ensures that people in the unit understand how their work relates to the business’ mission. Provides opportunities for people to learn to work together as a team. Clarifies expectations about what will be done and how. Hiring a Compensation and Benefits Specialist? The policy is the tactical … Has a strong sense of urgency about solving problems and getting work done. Promotes cooperation with other work units. Carefully weighs the priority of things to be done. Deals firmly and promptly with performance problems; lets people know what is expected of them and when. Key performance indicators for compensation measure an assistant’s efforts to help process payroll efficiently and accurately. HR Administration Expense per Firm-Wide Employee – Total HR management-related costs divided by the total number of enterprise-wide FTEs. Total Expense: Compensation per Compensation Employee – Total dollar expenses in offering compensation services during the preceding year divided by the total number of compensations employees at the culmination of that year. Quality of Hires – Percentage of hires who are top performers after a single year of service compared to the total number of hires for specific segments. Talent retention. KEY PERFORMANCE INDICATORS (KPI) Select a KPI for each KPA, which would enable the individual to improve performance to achieve the objectives. Future Vision – Employee considers how various scenarios will impact the future of the business. Takes the lead in setting new business directions, partnerships, policies, or procedures. Responsibilities includes employee’s right to have a fair practices to work safety and with benefits structure. Categories: Compensation and Benefits, KRAs & KPIs, Performance management Tags: KPI… Notices similarities between different and apparently unrelated situations. Accurately anticipates the implications of events or decisions for various stakeholders in the organization and plans strategy accordingly. Takes time to get to know coworkers, to build rapport and establish a common bond. Spans and Layers: Recruiter per HR Manager – Average number of workers who report straight to a manager within the staffing and recruiting division. Total Employees per Policy & Benefits Employee Headcount Ratio – Total number of staff members at the end of the preceding year divided by the total number of compensation employees at the culmination of that year. Improve new hire 90-day failure rate – The new hire 90-day failure rate measures the number of new employees who do not make it through the first 90-day period. : Allows managers to see the value added when current employees help to identify and acquire talent. HR generalists are in charge daily HR activities like keeping HR data system records and organizing reports from the database, establish department goals, targets and systems, setting up interviews and execute other functions assigned and required by the company management. Market Data Sources – Sources for acquiring market information, by data percentage. Identifies and targets influence efforts at the real decision-makers and those who can influence them. In addition to KPI names, the report contains a detailed description of each KPI, as documented in smartKPIs Premium. Questions others to assess whether they have thought through a plan of action. Notice discrepancies and inconsistencies in available information. Be the first to comment - What do you think? Examples of these KPIs would be the cleanliness target compliance by machine type, the humidity limit compliance by machine type, the temperature limit compliance by machine type, the compliance of varnish potential limits by machine type, and the progress in the implementation of machine modifications and other … Possesses in-depth knowledge and skill in a technical area. Improve the diversity rate – The employee diversity rate KPI is defined as a measurement that tracks how diverse the organization’s employees are. HR Planning & Analysis Expense per Employee – Total dollar expense in offering HR planning and auditing during the preceding year divided  by the total number of workers at the culmination of that ear. Understands the interests and important concerns of others. Having an informed and invested leadership team has been proven to increase HR budgets and department support. Related: HR Generalist, HR Coordinator, HR Admin, HR Manager. Competencies dealing with people in interpersonal awareness.

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