8 Ways to Leverage HR Metrics and Grow Your Business
Your startup is only as good as the people you hire. A strategic HR department is crucial for success and growth. That means you need to keep a close eye on metrics like compensation, turnover, and training. Focusing on employee satisfaction and performance are musts.
When you start to monitor your HR metrics, you’ll likely find areas for improvement. Take Google’s HR department — or “People Operations, as they call it — for example. When they started monitoring turnover rate, they made an important discovery: women who had just given birth were leaving at twice the rate of Google’s average departure rate. To compensate, they extended their maternity leave policy from two months to five. This helped them retain important employees and now they’re consistently rated as one of the best places to work.
Not every company is Google, but you can leverage tech to make compiling data easier — no matter the size of your team. Report on your HR metrics quarterly so you can identify trends over time and constantly improve your people process. For more examples, check out the infographics on how ten of the world’s top companies are leveraging HR to grow their business.
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