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Key HR Metrics Along With Their Formulas

The document outlines 10 key HR metrics including their formulas, calculations, and examples using made-up numbers for a fictional company ABC Corp. The metrics are: employee turnover rate, retention rate, time-to-fill, cost per hire, absenteeism rate, human capital ROI, training and development ROI, productivity index, employee satisfaction score, and diversity and inclusion index. Formulas show how to calculate each metric based on factors like number of employees hired or absent, recruiting costs, employee satisfaction survey results, and more.

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168 views2 pages

Key HR Metrics Along With Their Formulas

The document outlines 10 key HR metrics including their formulas, calculations, and examples using made-up numbers for a fictional company ABC Corp. The metrics are: employee turnover rate, retention rate, time-to-fill, cost per hire, absenteeism rate, human capital ROI, training and development ROI, productivity index, employee satisfaction score, and diversity and inclusion index. Formulas show how to calculate each metric based on factors like number of employees hired or absent, recruiting costs, employee satisfaction survey results, and more.

Uploaded by

mba2135156
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Key HR metrics along with their formulas , calculations and example

Let's consider a fictional company, ABC Corp, to illustrate these HR metrics with
hypothetical numbers:

1. Employee Turnover Rate:


- Formula: (Number of employees who left during a period / Average total number of
employees during the same period) x 100
- Example: 30 employees left during the year, and the average total number of
employees was 500.
- Calculation:(30 / 500) x 100 = 6%

2. Retention Rate:
- Formula: 100% - Turnover Rate
- Example: Retention Rate = 100% - 6% = 94%

3. Time-to-Fill:
- Formula: (Number of days to fill a position / Total number of positions filled)
- Example: It took an average of 45 days to fill 50 positions.
- Calculation: 45 / 50 = 0.9 days per position.

4. Cost per Hire:


- Formula: (Total recruiting costs / Total number of hires)
- Example: Total recruiting costs for the year were $100,000, and 50 positions were
filled.
- Calculation: $100,000 / 50 = $2,000 per hire.

5. Absenteeism Rate:
- Formula: (Total days employees were absent / (Total number of workdays * Number
of employees)) x 100
- **Example:** Employees were absent for a total of 500 days, and there were 250
workdays with 200 employees.
- **Calculation:** (500 / (250 * 200)) x 100 = 1%

6. Human Capital ROI (Return on Investment):


- Formula:[(Revenue per Employee - Cost per Employee) / Cost per Employee] x 100
- Example: Revenue per employee is $80,000, and cost per employee is $60,000.
- Calculation: [(80,000 - 60,000) / 60,000] x 100 = 33.33%
7. Training and Development ROI:
- Formula:[(Gains from Training - Cost of Training) / Cost of Training] x 100
- Example: Gains from training amounted to $50,000, and the cost of training was
$20,000.
- Calculation: [(50,000 - 20,000) / 20,000] x 100 = 150%

8. Productivity Index:
- Formula: (Total Output / Total Input) x 100
- Example: The company produced 10,000 units with 500 hours of labor.
- Calculation: (10,000 / 500) x 100 = 2000

9. **Employee Satisfaction Score:**


- Formula: (Number of satisfied employees / Total number of respondents) x 100
- Example: 150 employees reported being satisfied out of 200 survey respondents.
- Calculation: (150 / 200) x 100 = 75%

10. Diversity and Inclusion Index:


- Formula: (Number of diverse employees / Total number of employees) x 100
- Example: The company has 80 diverse employees out of a total of 400 employees.
- Calculation: (80 / 400) x 100 = 20%

These examples provide a glimpse into how these HR metrics can be calculated and
interpreted using hypothetical numbers for illustrative purposes.

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