35 Key HR Metrics with Examples, Formulas and Detailed Analytics

Aarya Chalke13 Dec, 2023Technology

Human resources metrics are the KPI (key performance indicators) of HR. These are evaluated by HR professionals to assess the effectiveness of HR functions, operations, processes, and strategies. Human resources metrics can help to compare the efficiency of HR operations to the expenses made. It gives an insight into the impact of the HR department in the organization, and the prevailing gaps in HR functions that may have adverse effects on the organizational well-being. Hence, this metric holds great significance in strategizing data-driven decisions that would benefit your organization. Let us know in detail about the types of HR metrics and analytics, as well as their significance in the organization’s structuring.

Employee Value Proposition (EVP): Meaning, Benefits & Examples

Aarya Chalke13 Dec, 2023Technology

Employee value proposition is a process in which employers provide an extra bunch of benefits to employees in return for the skills, capabilities, contributions, performances, and employment they deliver for fostering the growth of the organization. An Employee value proposition EVP is a combination of tangible and intangible elements such as career advancement opportunities, benefits, compensations, rewards and recognition, etc. The goal of an EVP is to attract and retain top talents in the organization.

Streamlining Businesses: Pocket HRMS announces integration with Logic ERP

Aarya Chalke12 Dec, 2023Technology

In a dynamic business landscape, where efficiency and integration are paramount, we are excited to announce a ground-breaking collaboration between Pocket HRMS, and Logic ERP, a leading provider of comprehensive Enterprise Resource Planning (ERP) solutions. This strategic integration is set to revolutionize the way businesses manage their human resources and streamline their overall operations.

Top 5 Performance Management Strategies for Employees

Aarya Chalke11 Dec, 2023Technology

In every industry, one of main responsibilities of employers is regulating the employee performance management. It is not only helpful for enhancing the employee involvement in workforce also help the company making improvement in business productivity. A right employee performance management helps the organization creating a space for the employees where they can perform well with right strategies. It ensures the employer- employee bonding, their interpersonal relationships, constructive feedback, effective leadership and teamwork.

All About Employee Performance Improvement Plan (PIP)

Aarya Chalke04 Dec, 2023Technology

A performance improvement plan (PIP), is a documented performance improvement tool used by the employer to outline the areas of improvements required for the employees who do not meet the performance expectations of the organization. The primary objective of a performance improvement plan (PIP) is to provide a framework to the employee on the lacking or deficient areas of their performance that need immediate actions for improvement.

20 Best Employee Engagement Software in 2023

Aarya Chalke27 Nov, 2023Technology

Employee engagement and enhanced employee experience are essential for the success of any organisation. Engaged employees stay with the company for longer, which results in long-term dedicated staff, who are interested in remaining a part of the company. Such employees are more productive and provide valuable inputs to enhance the company’s products and services too. Hence, an employee engagement software has become a necessity for any modern organization, and utilizing the best payroll software in India can further streamline and optimize the management of employee compensation, contributing to a comprehensive approach to workforce management.

10 Brilliant CSR Activities Ideas for Social Impact

Aarya Chalke23 Nov, 2023Technology

CSR stands for Corporate Social Responsibility. CSR in the business is about integrating social and environmental concerns in business operations. CSR activities allow companies to act for the greater benefit of the world. This comes from the idea that the business should not be focused only on the bottom line and be conscious of harm caused to shared resources. The philanthropic initiatives taken up by the organization are volunteer work depending on the values the company believes in. Most big organizations use huge amounts of natural resources. CSR activities are seen as a way for businesses to give back to society.

Management By Objectives (MBO): A Comprehensive Analysis

Aarya Chalke22 Nov, 2023Technology

‘Management By Objectives’ is the strategic process of setting organizational goals with reciprocated responses from both employees and management. The term ‘Management by Objectives’ was coined by Australian-American management author Peter Drucker in his book ‘The Practice Management’ in 1954. Management By Objectives is designed by aligning organizational goals with the overall employee objectives to provide a directive pre-defined conduct to accomplish the vision of the business in the future. It is a strategic approach to enhance the efficiency and effectiveness of the organization and remove any ambiguity.

What is Attrition Rate and How to Calculate it Easily?

Aarya Chalke22 Nov, 2023Technology

Attrition rate is a measuring tool that identifies the ratio of employees who resign from organisations voluntarily or involuntarily. It also represents the percentage of loyal customers of which employee leaves the company. It is a key indicator that calculates the pace at which people leave a company. It measures how many people or employees leave, voluntarily or involuntarily. Additionally, it helps track average employment duration, and competitive compensation, detects the cost of requirements, training, and exit interview, and maintains customer base and marketing. HRs can measure the attrition rate monthly, quarterly or annually to monitor progress.

Private Pension Plan for Company Employees in 2023

Aarya Chalke22 Nov, 2023Technology

A few years ago, people used to say that the ‘only government job is a secure job where you get benefits even after retirement. It become a joke nowadays. If a person wants smooth retirement planning, he can easily do so by investing some amount regularly in a private pension plan. Starting saving in younger years, individuals can spread their savings over an extended period. Moreover, they can decide when they break from their financial responsibilities and enjoy their retirement life hassle-free.

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