Your company wants to do more than just hire people – you want to make sure you are finding the right staff members, taking full advantage of your human resources, and not losing out on the talent your organization needs to thrive. To ensure that you’re leveraging human resources to drive performance, it’s important to collect the right data and to integrate it into a broader assessment of the business organization.
Whether your company has a dedicated human resources department or not, it’s vital to collect data on your hiring process and to understand how a few key metrics can serve as clear indicators of whether that process is actually resulting in the creation of a team that improves business performance… or whether the process is creating hassle and hardship for departments companywide.
The key metrics your company should look out for include:
While it’s obvious that high turnover is bad, just knowing your turnover rate isn’t going to be enough. You need the data you have on turnover to guide your policy, which means you need to understand much more about what’s driving your turnover rate. Consider whether turnover is too high company-wide or just in a particular department, and then find out what managers are doing in both high and low turnover teams. Dig deep into the data so you can better understand what is really going on and so you can stop the damage that comes from too many employees leaving too quickly.
- Time to hire
Is it taking your company a long time to recruit and hire qualified candidates? You’ll need to find out why so you don’t have a talent shortage. Dig deep into the parts of the hiring process that could be creating a bottleneck. Are the wrong candidates applying? You may need to tweak your job description. Are candidates not accepting your offer? Is the application process too complicated? Find out where the issues are to make your process more efficient so you can put an end to labor shortages that undermine productivity.
- Return on investment
When you bring new people on board, you need to know they are pulling their weight and adding value to the organization as a whole. You need to build a business case for why a new hire was justified and why the candidate is the right one- and you need your data to back it up.
Spectra Staffing can help you to quickly and efficiently hire quality staff members who will succeed at your company, stay a long time, and drive revenue growth. To find out more about how our staffing service can help you to ease workplace pain points by bringing the right staff on board at your organization, contact our team of experts today!