Benefits Metrics

We believe the most valuable and relevant metrics support objectives. In our quest to standardize metrics we believe that we can find several common objectives among companies of all sizes and across all sectors in relation to categories of HR. For instance, we believe that most people would agree that a common objective of most businesses would be to make a profit. In the staffing function of HR, we believe that most people would agree that a common objective would be to attract and retain employees that perform adequately in achieving the company’s objectives.

Can a common objective be identified in relation to the HR function of Benefits? What are companies really trying to achieve in relation to benefits? We ask these question as one of the first steps in tabulating the results, capturing any commonality, and then developing meaningful standardized metrics. Below please find a sample “Benefits Objective”. Does it mirror your company’s objectives? If not, would you be willing to share your company’s objectives with us? Post your ideas, thoughts, and metrics.

Sample Benefits Objective - Competitive benefits efficiency that supports the attraction and retention of key employees

We’ve developed sample metrics that support the objective above. They can be found on our Benefits Metrics page. This page also contains some common benefits metrics that are being used and we’ve set up a message board dedicated to sharing information regarding benefits. The page is a prototype for other metrics pages on our site within other functions of HR so please provide us with your feedback.

Visit our Benefits Metrics Page Now

What to look for in 2007

First, we’d like to thank all of you for your feedback, sharing of information, committee involvement, and dedication to metrics in 2006. For 2007 we plan on greater participation, greater sharing of information, and increased learning from each other. This year we also plan on rolling out new tools and enhanced content to help you along your journey with metrics.

Case Studies – our metrics promotion and adoption committee has completed several interviews with companies who use metrics. In the next 90 days, look out for case studies on what other organizations are doing regarding metrics and how they are doing it. The intent is for these case studies to be learning tools for our members. They will highlight both successes and failures and provide useful tips. We are continuously searching for more case studies – contact us if you’d like to participate. Rest assured that you company information can be omitted from the case study if you’d prefer.

Content – we are in the process of enhancing our content on both our website and member area to better serve the group. In the next 180 days you can expect to see greatly increased and enhanced content. We are taking suggestions and submissions for content. Contact us with any metrics information you feel is valuable.

Those are just a couple of highlights of what to look for in 2007. Expect to see more improvements throughout the year.