HRM Metrics Essential in Corporate Decision-Making Processes

Question: Explain Why Are Appropriate HRM Metrics Essential In Corporate Decision-Making Processes? Explain, Using Examples Answer: Business starts with clear goals and objectives they pursue to achieve. The managers have the mandate to oversee the execution of activities to reach the targets. However, managers cannot do all the duties of the firm alone but yet need employees to assist them. Employees represent the internal stakeholders of the organization, and they comprise of skilled and non-skilled persons. All the staff is vital to the achievement of the goals of the organization, and they must be treated with respect by the managers. The human resource department headed by the human resource manager in any organization is responsible for dealing with the employee's matters. The department deals with recruitment, job placement, appraisal, rewarding and termination of the contract of the employees (Boxall, and Purcell, 2011). Human resource metrics are measurements that are used to find the value and effectiveness of the human resource strategies or initiatives. They are standards that show how the human resource department has performed (Bratton, and Gold, 2012). They aim at tracking, monitoring and assessing the performance of the HR department in dealing with the employees of the organization. The metrics include; turnovers, employees' performance, scrap materials and cost of labor. Human resource department to be successful it must ensure employees satisfaction and also provide the organization with employees able and willing to execute the activities. The employees also must be at a low cost for the team not to incur huge expenses to the firm. Turnover is the rate at which workers exit the group. High employees' turnover means the HR department has failed to satisfy the needs of the employees. Continuous recruitment of employees is costly for the firm and should be avoided (Hausknecht, and Trevor, 2011, pp.352-388). The performance of employees also determines the performance of the HR. High fulfillment in the firm implies that employees are qualified for the job execution hence success to the human resource department. Scrap materials are the waste after execution of business processes when the trash level is high it means that there is a lot of wastage in production and employees is inefficiency and ineffective. The HR department has the mandate to ensure that the skills of the workers are sufficient and where the employees have no skills due to technological changes, training and development are essential (Daley, 2012, pp.120-125). The above factor helps the managers to make a decision on the actions to make regarding the employees they have. If the employees are doing well strategies, have to be put to ensure continuous execution of business activities. However, when many problems are facing the employees' remedies have to be implemented. References Bacal, R., 2011. Performance Management 2/E. McGraw Hill Professional. Boxall, P. and Purcell, J., 2011. Strategy and human resource management. Palgrave Macmillan. Bratton, J. and Gold, J., 2012. Human resource management: theory and practice. Palgrave Macmillan. Daley, D.M., 2012. Strategic human resource management. Public Personnel Management, pp.120-125. Hausknecht, J.P. and Trevor, C.O., 2011. Collective turnover at the group, unit, and organizational levels: Evidence, issues, and implications. Journal of Management, 37(1), pp.352-388.