`Hey,
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1)
Key performance indicators (KPI’s) come from defining critical success factors divided
into meaningful criteria. Human capital KPIs align with the company performance strategy and
relevant to business goals. Improvements can be measured with looking at relationships between
time periods relative to risk. Having the right team is essential in maintaining company and
product stability. There are many human capital KPI’s which can measure different areas within
HR depending on the desired objectives. Compensation, culture, employment, and performance,
are just some of the over arching critical success factor subgroups which break up human capital
potential KPI’s into meaningful criteria available to be considered. Since a company can
measure anything, they need only gather data to evaluate and have a perspective on company
performance with respect to human capital.
In order to help improve an organization, a human capital key performance indicator to
consider is the absenteeism rate. Regardless of sick days or vacation days, if employees are not
at work to participate in the success of the organization, there are repercussions on the company
as a whole. Absenteeism results in overall inability to accomplish the quantity and quality of
tasks the team as a whole could. If your human capital is not available to ensure the product is available, the company will have nothing to provide. Being able to evaluate the absenteeism rate
can be calculated by totaling the number of workdays lost due to absence, divided by the number
of workdays available in the company, would equal the absenteeism rate.
Success with respect to human capital can be subject to everyone connected to the
company – employees, contractors, volunteers, and interns. When evaluating the KPI’s to
implement for human capital, focus on a few specific pieces so they can be detailed enabling to
see success or failure. Data should be easily read or analyzed, and ownership of the information
should be maintained so adjustments can be applied as needed.
2)
Traditional Risk Management | Enterprise Risk Management |
Segmented / Departmentalized | Holistic approach |
Each department/business unit/silo deals with own risk | Emanates from the "top" – typically the Board of Directors |
Little or no knowledge of overall organizational risks | Broad perspective on overall organizational risks |
Focus is on preventing loss within the business unit (tactical) | Focus is on lowering risk, increasing sustainability and providing savings/value across the entire organization (strategic) |
Manages uncertainties around physical and financial assets | Assesses entire asset portfolio including intangibles such as customers, employees, suppliers, innovative processes, proprietary systems |
Solutions to mitigating risk based on each silo's expertise and decision-making skills | Solutions to mitigating risk based on strategy-setting across the entire organization |
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