This section of the template requires figures and statistical data to compare human resources performance for the current period against the figures from the preceding period. If the human resources report card is to be tabulated for a quarter, the data for the last quarter should also be at hand, likewise if it’s being made on a monthly basis the previous month’s data will also be required. This section is divided into three sub-sections and here is a list of pointers for feeding in data across these sections.
Cost per Hire: This is the average cost of filling up a job vacancy and should take into account – vacancy advertisement charges, employment agency commission, relocation charges etc.
Turnover Cost: This is the average cost of employee turnover and in addition to taking the cost per hire into account the cost of termination or relieving is also added to the amount.
Training Cost per Employee: This is the average cost incurred on training new as well as existing employees.
Average Claims: This is the average amount of employee claims disbursed during the period.
Average Employee Compensation: This can be calculated as the total amount of salaries paid divided by the total number of employees.
Employee Retention and Management:
- Employee Turnover
- Vacant Period: The total number of days any job position has remained unfilled during the period
- Lost Work Hours
- Accidents and Hazards: Here instead of entering the number of accidents, its better to put in the total amount of financial loss suffered due to the accidents for a more accurate analysis.
Human Resource Efficiency
Revenue per Employee: This is calculated as the total revenue of the business divided by the total number of employees.
Employee Productivity: Total revenue divided by total number of logged work hours is the employee productivity.
Skilled/Unskilled Employee Ratio: The ratio of skilled versus unskilled employees.
Human Resource ROI: The return on investment for human resource can be calculated as total revenue minus all other expenses except employee costs divided by the total employee compensation.
Training ROI: this field requires the return on investment for all the efforts and expenses made towards employee training.
The performance measurement section requires the user to furnish three types of data – the previous period’s data, the current period’s data and the weight for each criterion. The weight is the relative importance for the particular criterion. Here again the user has to distribute a total of 100 points across the five criteria under each sub-section.
Once these three fields have been filled the human resource report card template will provide the following information:
Achievement: The achievement column will show the percentage achievement and can be both negative as well as positive. Every criterion which shows a negative achievement should be on the priority list over the next period.
Performance Score: The performance score tries to indicate how much each criterion affects the overall performance of the human resource department.