|Running head: STAFFING METRICS EVALUATION||1|
|STAFFING METRICS EVALUATION||14|
There is a plethora of areas that staffing metrics covers. This functional area that is placed on any business/organization is used to provide an in-depth look at the trends of the performance and cost of any business. These patterns can either be done in short term or long term. Because of the various ways in which managers approach the many metrics available emphasis is placed more highly on multiple attributes. To ensure that you have a quality metric program it is an important to have much accountability in place. These can include productivity, cost, and risk. Metrics programs are a critical part of producing the staffing needs of the business. Metrics are used to help determine if the levels of staffing are able to work with the load it is given. With the way budget constraints are set up in all businesses it is important to have metrics that help to quantify the needs of your workload (Cohen, 2011). These metrics assure that these staffers can use staffing functions to perform their business objectives. For my business, three metrics have been chosen to track the information of my company as well as the effectiveness, outcome, and satisfaction of my business. The parameters selected are brand-related metrics, staffing efficiency, and sourcing channel metrics.
Metric 1 of 3 – Branding-Related Metrics
The first is brand-related metrics. This particular parameter is used to calculate the savings cost. This setting is the cost that it takes to fill a specific position in your company. It also determines weakness and strengths of the company’s brand by acknowledging what business objectives your company is achieving. To identify the brand metrics, they are quantified into four different categories. Behavioral parameters track what an employee can do to help not only promote the brand of the company but how to build from there. Second is Interactions metrics which follow the customers’ interactions with the company’s brand. Perception metrics track how the customers perceive the company’s brand. Performance metrics check the clients’ perceptions of the company’s business impact. The many ways in which individuals find out about our business from non-employment related ads such as from our web page, referrals, television, and walk-ins are being placed together and calculated to show the cost savings that our company has received to fill the positions that we have available.
Metric 2 of 3- Staffing Efficiency Metric
The amount of resources that are used in order to perform the staffing process is a staffing efficiency metric. By using vendors or partners for staffing we are able to evaluate staffing efficiency. There are also chances where a staffing metrics can become stale. This happens mostly when seeing the cost of using IT, administration assistance, mail clerks and any other type of creative staff that can be put into place. This is mainly for mid-range to large companies. When a group is using a staffing vendor, there must be successfully defined metrics that should be put into place. This can include soft and hard parameters. Some examples of hard metrics that help to bring success to a company is price, bill accuracy, and time to fill. Some softer metrics can be considered in order to reach goals both current and future. These elastic parameters must be able to correlate with the hard metrics that are already put into place. The purpose of these staffing vendors is to produce a partner. It is essential to ensure that a valid partnership is established between your company and the staffing vendor. It not only allows you to be successful but you vendor as well.
Metric 3 of 3- Sourcing Channel Metrics
Most major companies from large to mid-range use channel metrics in some fashion. Channels metrics come into play by this parameter. These metrics are used to track sources from a wide range. Some of these sources include organizational budgeting, hiring prospects compared to vacancies, efficiency of the sources being used to fill these positions, and the company turnover rate. The integrity of the sources that are used is essential as well as the salaries that are provided for the jobs available through the channels and the monitoring of the recruiters. These channels are used once metrics are put into place and operations are ready to be performed. There are some channels that should be considered when sourcing channels. These channels can include but are not limited to Career-Builder, Monster, and Indeed. These channels offer to the company a vast array of individuals who are looking for employment. These channels are a significant asset to any organization. Job boards that are placed into niche markets are also a handy tool that can be used for a group. These boards provide a high value to specialized positions. Examples that can be used for this are College Board and industry specific. Models that can also be utilized are resume sourcing, referrals, emails, and search engine.
By looking inward to our company, we can develop a staffing metric program that fits our business. This look will allow us to make determinations on if the metrics that our society is using the right parameters to capture the correct information. The metrics that our firm handles must ask if there are opportunities that exist to do better as well as what our most significant obstacles are. To choose the right metrics for your program, some factors must be considered. A company must ensure that they are prepared for the cost that our business will endure. By understanding the knowledge of the value, our company will have to suffer ahead of time is critical to success. This value can include recruitment and retention, company productivity, risk, accountability and supply, and demand. This information provides value by helping to streamline or submit a revision to your hiring process by providing a more efficient and supportive business strategy or objective. When the metrics that you have chosen do not align with your business objectives, the success of your business may fail.
Staffing Metrics Evaluation
Staffing Metrics Evaluation
Staffing decisions can affect the quality of an organization’s performance, degree of service, and employee retention rates. In most cases even company goals could be at risk. Measuring staffing performance is dependent on the type of metrics used. Staffing metrics are used to justify cost, analyze retention rates, and also give insight to position vacancy rates. The following paragraphs evaluate three metrics that the General Services Administration (GSA), uses to determine how well the staffing process meets the needs of the organization.
Staffing Process Metrics
Although there are many metrics that can be applied to staffing processes, I chose the three metrics below to evaluate, which are very important to any company’s success. The three metrics are cost of hire, retention, and position vacancy rates. These three metrics provide information on business performance. They not only provide an insight to hiring processes but to financial aspects as well.
Cost of Hire
The GSA receives their funding from the services it provides. When they hire, as for any company, it can be quite difficult to consider and measure every aspect of the hiring process. Subtle yet costly actions drive cost that no one really considers. For instance, the length of each interview in which the manager and/or supervisor take with an employee and a variety of advertisements used such as the set up and maintenance of social media outlets. Recruiting fees also add up as well as any accounting and administrative costs associated with the process. However, it is very important for them to allocate the correct number of funds so that they can stay in budget and on task. Utilizing this metric is important to the success of the company as it ensures that staffing metrics align with company goals.
Besides the money, time, and resources that goes into hiring a new candidate, additional fees add up as a result of insufficient staff retention rates. Loss in productivity, in rehiring, and retraining employees can be financially draining. These costs can add up to 4 times that of a regular employee salary. At GSA, an analysis of turnover rates are performed every 3-6 months. Retention is an important metric to evaluate. This metric also enables the company to stay the course and achieve company goals.
Position Vacancy Rates
Determining the number of present vacancies and the number of vacancies that are filled is important to keep track. GSA measured this metric by quarter. Some companies however, measure this each month. Vacancies have financial repercussions to an organization. It is imperative for vacancies to be filled in a timely manner. Money is lost, clients turn to competitors, and production is compromised when positions are left unfilled for too long. Many companies, like GSA, have recruiting software systems to help keep track of this metric, offer advice on how to improve performance, and forecast vacancy trends.
Metrics such as cost of hire, retention, and position vacancy rates provide value to a company. These metrics will help when deciding on opening new business locations each year. Financially, a company must be prepared to endure the costs. Gaining knowledge of that cost ahead of time is critical. This information is also valuable in helping to revise or streamline the hiring process for more efficiency and to support business strategies and objectives.
Staffing decisions can affect the quality of an organization’s performance, degree of service, and employee retention rates as explained above. Using these metrics to align company strategies and objectives are imperative to a company’s success. While many companies have different objectives and strategies, the processes and resources used are mainly the same to a certain extent. Knowing the cost associated with these metrics and discovering trends will help a company succeed in the short and long term.
Philips, J. M., & Gully, S. M., (2015). Strategic Staffing (3rd ed.). Hoboken, NJ Pearson.
|HRM548 Week 6 Grading Rubric for Learning Team Memo (Rev. 11-30-16)|
|RUBRIC INSTRUCTIONS FOR STUDENT: After you complete your references section in your assignment, copy and paste this grading rubric to your Word document. That way, I can give you structured feedback in a more organized way. I can also evaluate your papers more quickly.|
|Review the following student materials to understand the nature of this assignment:
· Week 6 Grading Rubric
· Memo Format Guidelines for Course Assignments
· Guide to Peer-Reviewed References & APA
· Strategic Staffing, Ch. 13
Consider that Staffing metrics can be short-term or long-term, and efficiency- or effectiveness-oriented. Short-term metrics can be used as leading indicators to gauge a company’s ability to place the right people in the right jobs at the right time. Long-term metrics are best for evaluating the effectiveness of a staffing system because they drive the financial impact of staffing for the organization.
Choose an organization with which you are familiar except government or military.
Write at least a 1000-word memo using a minimum of 5 different peer-reviewed sources. You must address the following topics below using the section headers (labels) in bold.
· Section 1- Metric 1 of 3- (<– this is a section header). Identify and describe a metric that could be used to determine how well the staffing process meets the needs of the organization. Explain how it can help the organization determine effectiveness. If the metric is quantitative, explain how the metric is calculated.
· Section 2- Metric 2 of 3- (<– this is a section header) Identify and describe 2nd metric that could be used to determine how well the staffing process meets the needs of the organization. Explain how it can help the organization determine effectiveness. If the metric is quantitative, explain how the metric is calculated.
· Section 3- Metric 3 of 3- (<– this is a section header) Identify and describe a 3rd metric that could be used to determine how well the staffing process meets the needs of the organization. Explain how it can help the organization determine effectiveness. If the metric is quantitative, explain how the metric is calculated.
· Section 4- References- (<– this is a section header) your paper incorporates 5 peer-reviewed references via in-text citation in APA format. The references are also cited in full APA format in this list reference list.
· Section 5- Grading Rubric- (<– this is a section header) you copied and pasted the grading rubric provided on the link to your right to the end of your paper.
Submit your assignment to the Assignment Files tab by the deadline of Week 6 Day 6.
|Content 50%||Points Available
|Section 1- Metric 1 of 3- (<– this is a section header). Identify and describe a metric that could be used to determine how well the staffing process meets the needs of the organization. Explain how it can help the organization determine effectiveness. If the metric is quantitative, explain how the metric is calculated.|
|Section 2- Metric 2 of 3- (<– this is a section header) Identify and describe 2nd metric that could be used to determine how well the staffing process meets the needs of the organization. Explain how it can help the organization determine effectiveness. If the metric is quantitative, explain how the metric is calculated.|
|Section 3- Metric 3 of 3- (<– this is a section header) Identify and describe a 3rd metric that could be used to determine how well the staffing process meets the needs of the organization. Explain how it can help the organization determine effectiveness. If the metric is quantitative, explain how the metric is calculated.|
|Section 4- References- (<– this is a section header) your paper incorporates 5 peer-reviewed references via in-text citation in APA format. The references are also cited in full APA format in this list reference list.|
|Section 5- Grading Rubric- (<– this is a section header) you copied and pasted the grading rubric provided on the link to your right to the end of your paper.|
|Organization / Development 25%||Points Available
|The 5 required sections are organized separately in sequence as listed in the Content section.|
|The memo is at least 1000 words in length (excluding labels, headers, references)|
|Each section has a clear label or header.|
|Mechanics 25%||Points Earned
|Formatting or layout and graphics are pleasing to the eye (font, colors, spacing).|
|Rules of grammar, word usage, punctuation, capitalization, and spelling are followed.|
|Sentences are complete, clear, varied, and concise with proper syntax.|
|Used size 12 Times New Roman font for main body text and references.|
|Used double spacing between sentences and in References section.|
|Used memo format.|
|Used naming convention “FirstName_LastName_Week #_ Memo.doc” when saving and uploading file.|
|Total Points Available
|Total Points Earned|
|LATE POLICY: Students should submit assignments according to Arizona time (MST) based on the assigned due dates. Late assignments will be penalized with a 10% grade deduction for each day late. Deadlines will be defined as 11:59 p.m. MST. Assignments submitted more than four days late will not be accepted. Assignments submitted after the last day of class will not be accepted.|