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Common Types of Human Resources Metrics:
Time to hire.
The average length of time that it takes for you to hire a new employee, from the time of the job posting to their acceptance of an employment offer. You can calculate this by adding up the time for each individual hire and dividing it by the number of new hires in a given period.
Cost per hire.
How much does it cost for you to hire a new employee? This includes things like the recruiter's time, the possible cost of listing a job on a third-party site, time spent interviewing, etc.
Employee turnover.
Every business wants to have low employee turnover rates. If you are frequently losing employees and having to hire new ones, there might be an issue with your hiring or staffing process. Pay close attention to this number.
Revenue per employee.
It is very easy to determine your revenue per employee. Just divide that company's total revenue for the year by the number of employees that you have. You can also use this metric for individual departments.
Billable hours per employee.
This metric may not be applicable to every business, but it is usually relevant for businesses that offer a professional service like marketing agencies or legal firms. Not every employee will log hours that are directly billable to a client, so employees should track their time to allow you to gauge this on an individual basis. Essentially, the more billable hours per employee you have, the more revenue the company is making.
Absenteeism.
Absenteeism is the amount of time that your employees are absent from work for any reason (vacation, sick days, other). Metrics for absenteeism are given as a percentage of the total amount of available working days.
Cost of HR per employee.
Hiring, training and managing your workforce costs money. If you look at your HR expenditures for the previous month or year and then factor in the number of employees on your payroll, you can determine how much each employee costs on average for HR. This will allow you to make adjustments and lower costs.
Employee engagement.
Employee engagement is one of the most difficult metrics to obtain because it cannot be found using your financial records. You can issue company-wide surveys to your employees and ask questions rated one to five about their experience working in the company. The results can be averaged to rate your level of employee engagement.
Cost of training per employee.
In most situations, the success of a new employee has to do with the quality of their training. Still, that training has a cost. You need to pay people to spend time training new employees, you may need to supply them with equipment and materials, and they may need some time before they are ready to work without assistance. Look at your training expenditures and the number of employees you've trained to find out how much each new trainee is costing you.
Diversity/EEOC numbers.
The diversity of your workforce is more than an arbitrary number - it could be the key to your success. Diversity includes race, ethnicity, job type and salary. If your business is required to file an EEO-1 report with the Equal Employment Opportunities Commission, then you should already have access to these metrics.