Some people love data 📈, for some it’s not their cup of tea ☕ but in order to truly understand your people and make sure that your HR activity is having the best impact it can, then you need to look at the data.
Ask these questions about your organisation:
❓How much does it cost to recruit a team member? On average it takes 40 days to recruit, costs £7,729 and can be approx. 34.5% of an employee’s salary. How does this compare to your figure?
❓How much is spent on learning and development per employee? The average is £500 per year. Do you get a return on investment for your spend?
❓What is the employee turnover rate? Has it gone up or down over the last year?
❓How engaged are your employees? Again, has this increased or decreased in the last year?
❓What is the sickness absence level and what is the cost to the business?
Ok, we’ll stop there (there are more!)…but hopefully you’ll see that there are many areas that can be quantified and analysed. By looking at these figures, you can turn this data into insights and predict the future🔮 (the technical term is workforce planning but let’s not use jargon!). You’ll be able to make better decisions, engage your employees, improve processes, increase productivity and decrease costs 🎉
The data is there – it just needs pulling together and you can connect the pieces together. This will help you to prepare your people plan and decide which areas should be your key focus.
Here is our challenge to you…if you’re not able to answer these questions (it’s fine by the way, that’s why we’re here!) contact us and together we’ll put the data together!