Workforce and Staffing Metrics essay

This week, we studied and discussed metrics relevant to workforce and staffing. For this assignment, you will demonstrate your understanding of these metrics by writing a short paper  that addresses the following questions:

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1. What can each metric demonstrate? What is its importance to HRM and strategic decision-making?
2. What would be learned from statistics derived from this metric?
3. Where might one find (or collect) the raw data for this metric? How would you implement tracking this metric in an organizational dashboard/balanced scorecard?
4. What, if any, potential difficulties might create challenges in tracking this metric?

workforce and staffing metrics

Efficiency of Workforce and Job Satisfaction (Quantitative)

Metric 1: Absenteeism Rate and Cost

 Metric 2: Turnover Rate 

• Diversity and Minority Composition within the Workforce (Quantitative)
•  Metric 1: Measuring for Disparate Impact 
•  Metric 2: Ratio of Grievances to Employee Population 
•  Metric 3: Minority Representation by Category 
•  Metric 4: Minority Turnover Rate 
• Efficiency of Recruitment and Selection Systems (Quantitative)
•    Metric 1: Average Days to Fill an Open Position 
•  Metric 2: Offer Acceptance Rate 
•  Metric 3: Yield Ratios 
• Understanding the Applicant Experience and the Exit Interview (Qualitative)