A
This is a quantifiable measurement used to track, assess, and understand the efficiency and effectiveness of operations and human capital.
Metric
The process of using data and statistical methods to discover meaningful patterns, gain insights, and make data-driven decisions to improve workforce performance and achieve organizational goals.
Analytics
This is a term for the emotional commitment employees feel toward their organization, their work, and their team or coworkers, which drives them to apply discretionary effort to meet company goals.
Employee Engagement
Through the lens of HR, what is widely regarded as the most important asset to a business and is the root of driving success?
Human Capital
When thinking about the future of HR, what tool is known to make HR teams more agile, data-driven, and future-ready?
AI
HR metrics and analytics are most useful and effective when they align with ________
strategic business objectives/goals
In the presentation slides, which company's HR department and analytics team exhibited data-driven decision making by emphasizing targeting recent college graduates as a part of their hiring strategy?
Johnson & Johnson
In the presentation slides, which company analyzed workplace preferences and usage data from employees to make sure they built a new regional office building in the most ideal location that best suited all stakeholders involved?
Cisco
In the presentation slides, which company implemented a new reporting system that incorrectly tracked and penalized its employees based on faulty attendance data, leading to frustration and disengagement from its employees?
AT&T
Utilizing metrics and analytics to ensure a company is adequately investing in the business's human capital provides them with a ________ over its competitors.
Competitive Advantage
The HR-to-Employee Ratio is a metric that ensures a company has the necessary _______ to meet organizational needs and strategic goals.
capacity, level of staffing (anything along those lines)
This is a metric that is used to analyze employee engagement through tracking unexpected absences from work, usually calculated in the form of a percentage.
Absenteeism Rate
In the Johnson & Johnson situation from the slides, what specific metric(s) were they concerned with regarding their employees?
Turnover/Retention Rate
These are quantitative, results-based metrics that are used to track and assess performance either at the individual, team, or organizational level.
KPIs (key performance indicators)
Analytics can assist HR managers in evaluating the extent to which increased employee engagement has a positive effect on this financial metric.
ROI (return on investment)
This HR function is the continuous, strategic process in which a business aligns employee efforts with organizational goals by setting expectations, providing ongoing feedback, evaluating performance, and facilitating development to improve individual and business outcomes.
Performance Management
Those who lack curiosity and neglect to discover how the use of AI can add value to and improve their business will _________
fall behind, struggle to keep up with competitors, be worse off (something along those lines)
What are the 3 general steps mentioned in the slides that are taken in the process of utilizing metrics/analytics that provide a framework for helping a business identify sufficiencies or areas needing improvement?
1. Reporting/Gathering, 2. Investigate/Analysis, 3. Development
This comprehensive metric measures the value and overall level of contribution an employee brings to the long-term success of a business, particularly providing further insight on the question: "Did we hire the right person?"
Quality of Hire
This numerical score is a metric that comprises various aspects of employee satisfaction and contentment within the workplace, typically provided through surveys.
ESI (employee satisfaction index)
Collecting data for the sake of saying you did so, and neglecting contextualizing that data and utilizing it to help benefit your organization's needs would be examples of _________
Ineffective methods or strategies of utilizing HR metrics and analytics (something along those lines)
Providing upper-level leadership with data showing positive financial returns on engagement initiatives and programs can result in them ________
Buying-in to those employee engagement initiatives, allocating a budget increase to said initiatives/programs, providing further support (something along those lines)
Going into the month, a company started out with 100 employees. Over the course of the month, the company lost 3 of its employees, leaving them with 97 total employees at the end of the month. Calculate the employee turnover rate during the past month for this company (rounded to the nearest hundredth).
(3/98.5) x 100 = 3.05%
When requesting employee feedback and input, your employees will feel most valued and understood following providing that feedback when/if ________
change is actually implemented, applied, put into action (anything along those lines)
What would the ROI of engagement be for a company that spends $15,000 on employee engagement initiative programs, resulting in $32,000 saved in turnover costs (rounded to the nearest hundredth)?
(($32,000 - $15,000) / $15,000) x 100 = 113.33%