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What is the Employee Headcount KPI used for?
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It measures the total number of employees and is important for calculating other HR metrics like turnover rate.
What criteria does the SMART framework stand for?
Specific, Measurable, Achievable, Relevant, Timely.
How is Benefit Satisfaction measured?
It is measured through employee engagement surveys.
How is the Absence Rate KPI calculated?
It is calculated by dividing the number of days absent by the total working days.
What components are essential for a KPI?
A metric, a current value, and a target value.
What is a Leading Indicator and give an example.
Leading Indicators measure future events and causes; an example is productivity for labor cost.
Define Unwanted Turnover Rate.
It is the percentage of good performers leaving as a percentage of all performers.
What does the Employee Satisfaction Index measure and why is it important?
It measures employee satisfaction via surveys; dissatisfaction can lead to turnover.
What is the primary function of HR metrics?
To track and assess the status of various performance areas in HR.
What are examples of strategic goals that might require different KPIs?
Examples include increasing employee productivity, reducing turnover, or improving employee satisfaction.
Why are KPIs important in HR?
They are essential for maximizing employee and workforce data, tracking progress, and defining good performance.
Give an example of a Lagging Indicator.
Examples of Lagging Indicators include profit, expenses, customer participation, renewal rates, and revenue.
Describe the 90-Day or 360-Day Quit Rate KPI.
It is the number of hires that leave within three months or a year.
Why is combining Leading and Lagging Indicators important?
Using both provides the most accurate and meaningful KPIs.
What is the Internal Promotion Rate KPI reflective of?
It reflects employees' ability to improve their skills and progress within the company.
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