7 Key HR Metrics That HR Professionals Should Track And How To Calculate Them | HR Analytics

Learn the 7 key HR metrics that HR Professionals should track. HR Metrics are measurements used to determine the effectiveness and efficiency of the HR function. #HRMetrics #HRAnalytics
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⏰Timestamps
0:00 - Intro
0:28 - Key HR Metrics To Track
1:20 - Cost Per Hire
2:26 - Effectiveness of Recruitment Sources
4:09 - Job Offer Acceptance Rate
5:52 - Revenue Per Employee
7:09 - Average Length of Service
8:44 - Employee Turnover
10:09 - Employee Satisfaction Index (ESI)
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[@segunakiode]

📌Remember to drop your comment and to subscribe to my channel for more videos. 😀

[@emmyz431]

Notice you didn't mention anything about Staff Cost

[@affanali645]

Can you help me create an HR attendance MIS report that can be used to base KPIs for salary increase, yearly bonus, and increment? The report should include the following information: Employee name Department Job title *Quality of Delivery *Learning *Improvement in Interpersonal Skills *Attendance percentage Salary increase Yearly bonus Increment The report should also include a summary of the key findings and recommendations. Thank you! *These are Kpi's

[@futhimandiwana3823]

Thank you so much

[@segunakiode]

You are welcome!

[@pournamipooja9624]

Thank you🤩

[@segunakiode]

You’re welcome 😊

[@pauliasiqalinauci4574]

many thanks for your video. really love it.

[@segunakiode]

So nice of you. Thanks.

[@dumplinggeek9595]

Thanks Segun, very well explained and helpful :)

[@segunakiode]

Glad it was helpful!

[@AnonymousA-do3pi]

Thanks ❤

[@segunakiode]

You're welcome 😊

[@ctctraininganddevelopment]

Thank you very much; for your videos

[@segunakiode]

@Caraldean Chambers - Glad you like them!

[@LinLin2084]

Thank you so, so much. This is very helpful.

[@segunakiode]

@Lin K - glad it was helpful!

[@haaynzzz9669]

Awesome video! Really helpful, thank you

[@segunakiode]

Glad it was helpful!

[@eulechidinma3336]

Thanks.

[@segunakiode]

You're welcome

[@changinglifenarrative]

Very instructive, thanks for sharing.

[@segunakiode]

@Adeola Agbelemoge - Glad it was helpful! 🙂

[@olumideoladipupo1251]

This is highly appreciated. Thank you Segun

[@segunakiode]

Glad it was helpful!

[@gittajuliet7942]

Good presentation, please keep sharing

[@segunakiode]

Thank you for your kind words!

[@HireME-]

Great video, thanks for sharing

[@segunakiode]

Thanks for watching!

[@adexadex1610]

Thank you for simplifying HR Metric

[@segunakiode]

Glad it was helpful!

[@pacificaphilipo5697]

Excellent job Segun! No one could have brought this out better than you did! I especially appreciate these practical examples...really on point! Keep up the good job bro

[@segunakiode]

Thank you for your kind words!

[@akinsoladeborah5108]

Thanks for sharing sir.

[@segunakiode]

So nice of you!

[@riyadhalharbi5581]

Thank you for valuable explanations of HR metrics

[@segunakiode]

Glad it was helpful!

[@clinton9110]

Nice video.. i will research further on the points you have mentioned

[@segunakiode]

Glad it was helpful!

[@ranjannayak99]

Nice Videos Segun....Really Appreciated.....Keep Going...👍

[@segunakiode]

Thank you, I will.🙂

[@thearchetype]

Great Help. You made HR Platform very simple to understand. Thanks so much. Grace with you !!

[@segunakiode]

Thanks for your kind words. I am so glad you got value.

[@Indlestari]

Thank you, very useful for HR Practioner

[@segunakiode]

Glad it was helpful!

[@venkataramanan5558]

An amazing video...... Really enjoyed learinng from You Mr. Segun Akiode

[@segunakiode]

Glad you enjoyed it. Thank you!

[@theofficial_eo]

This is helpful. I'm currently gathering some info on how to be a freelance HR consultant and this just came in handy. Thank you sir.

[@segunakiode]

Glad it was helpful!

[@azeezadeola1356]

This is the best explanation of key HR metrics have seen so far. Thank you

[@segunakiode]

Wow, thank you for your kind words!

[@poonamrajput622]

Kindly do more videos on hr analyst with various cases

[@segunakiode]

@Poonam Rajput - your suggestion is well noted. Thanks 😊

[@samuelkofiamet7639]

Mr Segun, nice job my colleague.Thanks for raising new professionals

[@segunakiode]

@Samuel Kofi Amet - I am glad to be of value. 🙂

[@joshlamo6738]

You are too good my brother

[@segunakiode]

Thank you!

[@jessicahargley6153]

This was insightful. you didn't just list out formulas. Thank you

[@segunakiode]

@Jessica Hargley - I am glad it was helpful!

[@aziz6109]

thanks

[@segunakiode]

You're welcome!

[@francisabraham9102]

Thank you for sharing. I believe this metrics can be used to measure how effective a HR professional is on the job.

[@segunakiode]

@Francis Abraham - yes, it can serve that purpose as well. However, not an absolute.

[@farhanbinfuad3368]

As a new HR professional, this is eye opening sir.

[@segunakiode]

Glad to be of value to you.

[@jenbac.s1858]

Hi Segun 👋excellent delivery honestly. You just gave me clear orientation to answer my case study. Short concised and insightful 👌🏽 👏 👍🏼 I am also curious to learn from your version of EX,- Employee Experience. Thank you in advance.

[@segunakiode]

I am so glad the video was helpful!

[@HaritzLaundry]

I am not one to comment but i have to say it's a fantastic 👏 delivery. I can appreciate the depth because these are my everyday experiences. GREAT JOB❗ Thank you.

[@segunakiode]

@Femi Coker - Wow, thank you for your kind words!

[@hypertiagamedze1066]

Great presentation on HR metrics. What are the parameters of a holistic engagement survey.

[@segunakiode]

I did a video on How To Conduct An Employee Satisfaction Survey. Click here to watch it - kzbin.info/www/bejne/iXWcYp-lrsxkZ68

[@damilolajones4715]

Hello Sir, great job you're doing for the community, God bless you. Sir, kindly beam more light on how to carryout an employee satisfaction survey. Thank you

[@segunakiode]

@Damilola Jones - thank you for your kind words. I will dedicate another video to "employee satisfaction surveys".

[@emmyz431]

Thanks for this, do we need to include outsource employees when calculating revenue per employee. And why?

[@segunakiode]

@Emmyz - that will depend on the organisation.

[@Wildflower87]

Can’t help but notice all the books behind you! Can you share some of your just reads? 😊

[@segunakiode]

Smiles at the book compliments ☺️

[@abdofeduconsult]

Thanks for knowledge sharing. However, Specific Average Cost of recruitment = (Total cost of recruitment at a time divided by total number of new hires at the same time) will be a better measure than Cost per Hire. The cost per hire is literally the cost to get a staff employed which varies. Thus, such measure will remain a biased estimate measure of recruitment cost. Besides, Job Acceptance rate could be better expressed as (number of applicants that accept job offer divided by total number offers made ) multiply by 100%. This is expected to be higher. This approach is suggested because we mentioned acceptance rate in title of calculated measure. In Employee turnover, we mean Number of "Exit" , not exist (I guess typo error) Thanks

[@segunakiode]

Thank you for the feedback.

[@fumnanyabiose2885]

Thank you sir for these explanations. I do have a question. With the current trends of people leaving the country. I believe this has drastically reduced the average length of service for organizations. What strategies can a company now come up with to help retain their staff given that they cannot meet/match the new needs of the exiting employees?. Thank you

[@segunakiode]

There is no one size fits all answer to this question. Start with doing an employee exit survey to know why people are leaving plus a pulse survey of current employees. That can a good place to start to generate the problems to be solved by any "retention strategies" to be introduced.

[@johnsonmagama6972]

Hallo Segun. Kindly shed more light on industry benchmarks. Doesn't the employee contribution index also show the level of mechanisation or automation? Is your analysis ceteris paribus?

[@segunakiode]

Yes, my analysis is "all other things being equal". And Industry Benchmarks differ from Country to Country.

[@Dr.Aditya-Agrawal]

Dear Prof Akiode, by its very definition, job offer acceptance rate should have numerator as: No. of people who ACCEPT a job offer. Alternatively you can change the name of the metrics to "Job Offer Rejection rate"

[@segunakiode]

Thank you for the feedback.

[@obaaama152]

you are a genius and i am happy you are an african for that matter

[@segunakiode]

Thank you for your kind words. 🙂

[@hemalbuch]

Good Insight developed about HR Metrics. Will it be possible to focus on Metrics listing by each functional areas of HR?

[@segunakiode]

Thanks for the feedback.

[@AskREO.]

A situation whereby you’re not preview to how much the company makes how then does one calculate revenue per hire?

[@segunakiode]

Transparent is critical in the revenue per employee metric computation. If there is no revenue data then there is no computation.

[@ranjannayak99]

Kindly upload few on Power BI videos too...But no background music this time...😊

[@segunakiode]

This is well noted.

[@mariamomotunwase3442]

Thank you for this video However I wasn’t so clear with the effectiveness of recruitment sources Let’s say we get 50CV from Facebook And 50from LinkedIn Would be calculation be for each? To determine which practice to adopt Thank you sir

[@segunakiode]

@Mariam Omotunwase - glad the video is valuable. To your question, for Effectiveness of Recruitment Sources, you need to find the number of successful applicants from each source (i.e. get hired from each recruitment sources) divided by the total number of applicants from each source. Express the result as a percentage. This means you will calculate for each recruitment source separately to know which is the most effective source. So Facebook is different from LinkedIn. So out of the 50CVs, how many of the CVs got hired? Hope my explanation above is clearer?

[@mariamomotunwase3442]

@@segunakiode Extremely clear Sir.. I appreciate, for an Emerging HR like me your page is so insightful My notification bell is on

[@segunakiode]

@@mariamomotunwase3442 thank you for your kind words and vote of confidence!

[@sritama12]

Hello Sir, actually I enrolled for the course HR Dashboard using excel on Udemy, there I am unable to download Practice file employee data and reading material on data visualisation ... kindly help.. I did not see any channel to communicate on the same platform. Thanking you in anticipation of your cooperation.

[@segunakiode]

Apologies for your experience. There is a Resources Tab on the Udemy Course to download the practice files. Kindly check and let me know.

[@sritama12]

Thank you so much, I have downloaded.. your videos are indeed very useful, and way better than many books..

[@sritama12]

Hi, as I am going through your videos very vividly, I think there is a small error ' In employee turnover formula..it is written as 'No of exists..' it should be 'no of exits..'.

[@segunakiode]

@@sritama12 thank you for the feedback. 🙏

[@radhikadeshpande5527]

Job offer acceptance rate formula is wrong. How can the lower offer acceptance rate be considered efficient for business?

[@SahilTayal]

I was looking for this comment

[@segunakiode]

I will double check and revert. I suspect a formula mix-up here.

[@ctctraininganddevelopment]

Could you speak to human resources Developing Hr reports

[@segunakiode]

@Caraldean Chambers - I did a video on HR Reports. You can watch it here: How To Make HR Reports Using Excel - kzbin.info/www/bejne/rIqoi5Svos1gqJY

[@ctctraininganddevelopment]

Thank you;do you tutor academically

[@segunakiode]

@Caraldean Chambers I do facilitate human resources related trainings and online courses. 😀

[@mahaveerasangi1306]

With due respect, looks like the metrics: 'Offer acceptance Rate' is not correct. I think it should have been (Number of Job Offers Accepted/Total Number of Job Offers Extended)*100. ​Higher the 'Offer acceptance Rate' efficient is the recruitment process. Correct me if I am mistaken.

[@segunakiode]

Thank you for your feedback!

[@dr.shilpawadhwa1741]

you have mentioned exists - it should be exit in all the content.

[@segunakiode]

Thanks for the feedback.

[@ubsambo7710]

I feel blessed to have run into your page. i would love to speak with you, what's your IG handle boss?

[@segunakiode]

Kindly book a session using this link - bit.ly/Call-Segun-Akiode

[@agenos6071]

Wao Segun u are the best coach