📊 HR Metrics Small Businesses Should Track

HR metrics are important for making informed decisions based on collected data. [Fit Small Business]( Expert Insights on HR October 02, 2024 Our Expert’s Topic for the Week: HR metrics small businesses should track HR metrics are key data points that help your human resources department keep track of important aspects like performance, turnover rate, time to hire, cost per hire, absenteeism, and diversity. These metrics ensure your workforce is productive and costs are kept within budget for the HR department and the company as a whole. The importance of HR metrics is to use the data collected to make informed decisions. Since metrics are based on fact and evidence rather than intuition it can help optimize talent management and improve overall company performance. - Jennifer Soper, Robie Ann Ferrer & Genevieve Que   Here are the articles covered in today's edition. - [13 Important HR Metrics & How to Measure Them]( - [How to Measure Employee Productivity (+ Free Calculator)]( - [What are Key Performance Indicators for Employees: Types & Examples](   [13 Important HR Metrics & How to Measure Them]( [13 Important HR Metrics & How to Measure Them]( Employers use human resources (HR) metrics to measure how their human capital-related costs contribute to overall business performance. These can also be used to establish a baseline for your business to track productivity, revenue, training, and more. As your numbers increase (or decrease) around this baseline, you can determine steps to take, as necessary, to improve performance.   [How to Measure Employee Productivity (+ Free Calculator)]( [How to Measure Employee Productivity (+ Free Calculator)]( Measuring employee productivity is important in helping identify how company resources, money, and time are used to produce products or provide services. Learning how to measure this will help you gauge your workforce’s overall efficiency and capability.   [What are Key Performance Indicators for Employees: Types & Examples]( [What are Key Performance Indicators for Employees: Types & Examples]( Key performance indicators (KPIs) for employees are measurable values that allow you to determine how effectively workers are achieving business objectives. It also lets you monitor worker productivity and efficiency, enabling you to spot potential problems and make the necessary adjustments. Based on Your Latest Reads   [Free Time Card Calculator]( A time card calculator can be a great tool to help you calculate the total number of hours your employees worked in a given week. [How to Calculate Vacation Accruals (+ Free PTO Calculator)]( Small businesses that offer PTO must calculate accruals appropriately to avoid penalties. Use our free PTO calculator to help. [Free Excel Test for Interviewing Candidates]( An Excel test for interview candidates can show a person’s proficiency in using Excel. To assess candidates, download our free Excel test.   Latest in HR   [9 Best HR Software for Small Businesses]( The best software for HR can handle a multitude of tasks, from hiring and payroll to benefits and performance management. Many have all-in-one systems, while some provide additional professional employer organization (PEO) services for those needing expert help handling day-to-day HR tasks.   [Time to Hire: Measuring & Improving Recruitment Efficiency]( This is one of the standard HR metrics that recruiters use. With time to hire, you can evaluate the efficiency of your recruitment process. A shorter time to hire is often desirable as it indicates that the company can quickly identify, assess, and hire qualified candidates, reducing the impact of the vacancy on productivity and operations.   [5 Best Performance Management Systems for 2024]( Modern performance management systems do more than record annual manager/employee reviews. They include 360-degree feedback, intermittent check-ins, goal setting and management, and more. More FSB Resources   More Than A Newsletter   Written by Jennifer Soper, Robie Ann Ferrer & Genevieve Que About Fit Small Business HR Newsletter: Providing you with newsworthy tips, tricks, and informational deep dives on all HR and Payroll topics relevant to small business owners. Delivered to your inbox every Wednesday. [Sign up today]( Visit the [Subscription Center]( to get other free newsletters, manage your account settings or to be removed from Fit Small Business communications. 0[Unsubscribe](