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Showing posts from October, 2022

Retention Metrics

  Retention Metrics The main objective of measuring retention metrics is to find the best approach to reduce the chance of additional hiring and onboarding costs while increasing employee loyalty and trust in the company. 1  Employee Net Promoter Score (eNPS) This metric measures employees’ satisfaction with their jobs as a way to gauge their willingness to promote the company to potential candidates. This can be done by distributing a survey to obtain a numerical score for employee satisfaction and dividing the score into three ranges, namely promoters, neutral, and detractors. The eNPS can be calculated by using the formula below: (number of promotes – number of detractors) x 100 (number of respondents) The objective is to measure this metric regularly to monitor a company-wide problem and immediately address it through a well-established employee feedback system. 2

Recruitment Metrics

  Recruitment Metrics This metric category is used to measure your company’s performance in recruiting new employees. The main objective is to speed up the recruitment process to avoid losing any talented candidates.  To attain this ideal process, the efforts should come from the HR department and be supported by other stakeholders, such as finance or even the legal department. The top recruitment metrics are as follows: 1 Time-to-Hire This metric measures how long organizations recruit a new employee after the hiring process begins or when the candidates start participating. The objective of collecting this information is to find if there are lags in the recruitment processes due to misfitting job advertising channels, an insufficient number of recruiters to handle applicants, an irresponsive hiring manager, or an overly complex hiring decision path. 2  Cost per Hire This metric depicts the total cost to attain one new hire for a