The best way you can attract great talent is to keep a close eye on your human capital after they join your organization. In another blog post, we highlighted some of the top metrics you should be tracking as you work to hire employees. But what about after they are hired?
Every company should create their own KPIs, but some are universally applicable. Try starting by taking a look at these important data frameworks:
Are you diligently training your employees, or are there some changes that need to be made? The only way you can know is by tracking what your new hires know before, during, and after your training program. Whether training is formal or informal, predetermine a few points during the training process to gauge what kind of information new hires are absorbing, and see where techniques need to be improved.
Along with training impact, it’s important to understand how long it takes for a new hire to become a productive and contributing member of your team. Note that the time to productivity will not be the same for every position you’re hiring for. Rather it’s a function of an employee’s previous experience, their specific onboarding process, and support from their direct supervisor and colleagues. Check in with new hires every 30 days for their first three months to see how they’re progressing and to learn about how you can improve onboarding in the future.
Survey, survey, survey. You need to have a pulse on the intangible feelings in your workforce. Open an anonymous-optional webpage for workers to provide feedback in a structured way. This qualitative data often contains gems of information that you would never have access to by just looking at the numbers. Questions about what employees like and dislike can answer “why” in a way that quantitative data sometimes can’t.
Problematic retention rates can be a direct result of wavering employee happiness. This number helps you understand how much people want to stay working at your company. Coupled with the qualitative information you collected from your employee happiness surveys, your retention rates can help you understand what divisions, job functions, or other categories of workers need extra attention.
While HR can try to control as much as they can, managers also need to be relied upon to promote company wide engagement culture. In fact, 70% of the variance in employee engagement comes from managers specifically. So, it’s crucial to understand how each manager in your organization affects the aforementioned metrics. If your company is big enough, try sub-segmenting your metrics by manager to see which managers might need a reminder about company culture goals.