PPPart2MattinglyChelsea.ppt

Chelsea Mattingly

UMGU

June 23, 2021
METRICS FOR TOTAL REWARDS PROGRAM

INTRODUCTION & PURPOSE

Define metrics
Explain how metrics are used to evaluate the success of total rewards.
Identify, describe and provide examples of three metrics and how data will be collected.
Provide justification each metric selected.

The main purpose of the presentation is to define metrics, explain how metrics are used to evaluate the success of total rewards, identify, describe and provide examples of three metrics and how data will be collected, and justify each metric selected.
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DEFINITON OF METRIC
Metrics are tools that evaluates the impact of a specific project.
Metrics include both qualitative and quantitative measures.
Metric measures taken include turnover rates.
Measurement and reporting of key metrics is vital because it enables programs to be examined, measured, and changed.

Metrics are tools that evaluates the impact of a specific project or an exercise within an organization (John, Sebastian, & Brendan, 2021). Metrics include both qualitative and quantitative measures. Examples of metric measures that are taken are turnover rates, enhanced production, and how to reduce turn over rates. Measurement and reporting of key metrics is vital because it enables programs to be examined, measured, and changed if needed, to enhance efficiency and effectiveness. Qualitative and quantitative metrics offer clear and tangible objectives for a project, and criteria for project success.
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USE OF METRICS
Key leadership -in
Determination of required changes
Implementation of changes
Communication
Cost analysis

Changes aren’t necessarily recommended according to metrics. It is recommended that a group of a cross section of managers and workers measure the data and make recommendations for changes. reward programs and respective communication can be expensive hence cost analysis is vital if changes are recommended. After the program is adopted, the plans prescribed, and metrics determined will be tracked and communicated. A new communication plan will need to be developed to introduce any changes in the rewards. Besides, any new changes to the rewards programs will require the approval and support of key leadership of the organization.
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THREE TYPES OF METRICS
Employee morale

It evaluates workers attitude
It surveys workers after and before reward programs
Employee turnover rate

Collects information to compare trends grounded on competition
Vacancy rate

It juxtapose entry salary rates of competition with vacancy time rate

The three types of metrics that will be focused on are employee turnover, employee morale, and vacancy rate. Employee morale evaluates workers attitude (Gaby, & Bjorn, 2019). Besides, employee morale can be evaluated by measuring their productivity. It can be measured by observing their behaviors and actions. Employee turnover rate refers to the number of workers leaving the company. Metrics can be used to calculate the cost of workers attrition, create a staffing plan, calculate costs of hiring, and highlight the reasons why workers leave their jobs and company. People may quit their jobs due to poor pay or poor career development among others. The data can be collected by counting the number of employees who leave the company in a specified period of time. Vacancy rate is the number of specific job positions in an organization divided by the total number of job-specific vacancies multiplied by one hundred. Its data can be gathered by calculating the number of workers leaving a specific department or the company.
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JUSTIFICATION OF METRICS SELECTED
It analyzes the effectiveness of human resource functions.
Evaluates the efficiency of HR department.
Evaluates the effectiveness of workers in the organization.

The metrics selected are key indicators that the rewards given are helping the organization achieve its goals. It enables the human resource to reward and retain key talent, improve operations, service delivery, and communications to optimize and measure effectiveness and efficiency of HR department.
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CONCLUSION
Metrics evaluates information that shows the quantity, quality, effectiveness and cost of human resource programs.
Human resource professionals obtain metrics they require to communicate with the management to enhance outcomes.
Enhanced outcomes will be attained if the Microsoft department heads implement change that meets business goals.

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REFERENCES
Gaby, H., & Bjorn, H. (2019). Quality, impact, and quantification: Indicators and metrics
use by social scientist. Journal of the Association for Information Science and
Technology 70 (1), 16-26.
John, G., Sebastian, K., & Brendan, A. (2021). Impact Metrics. SocArXiv.
Mabaso, C. M., & Dlamini, B. I. (2018). Total rewards and its effects on organisational
commitment in higher education institutions. SA Journal of Human Resource
Management, 16(1), 1-8.

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