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Can you measure your impact?

In todays cost sensitive business economy, we are increasingly asked to demonstrate the value that HR initiatives bring to bottom line results of the organisations we support. This can often be a difficult task, when the tangible impact of the initiative takes longer than the regular reporting periods. However, if your organisation does require regular reporting, then a strategy must be put in place to allow you to do so, efficiently and effectively.

The Corporate Leadership Council outlines 5 keys steps that you should take when you are identifying and building your measurements.

1. Understand the Measure - Definition and Purpose

Review measures to ensure that the formula and how you interpret each measure is understood. Ensure the measure’s purpose matches the need of the organisation. Weigh the benefits and drawbacks of selecting alternate measures in lieu of the selected measure to ensure best fit.

2. Understand Variations and their Implications

If you are going to vary the measurement, ensure you define the formula of the variation. Outline exactly what alterations are made to the core measure. From this, identify any negative implications of using the variation measure on the organisation’s ability to source the data or benchmark the results.

3. Identify Relevant Data Sources

Work with technical contacts (e.g., IT, Payroll) to identify the systems and tables that contain the data, which is used for the inputs of the measure formula. Understand who controls and updates these systems, how frequently they are updated, and how they relate to or differ from data in other systems.

4. Define Fields and Rules

Work with technical contacts and/or staff members who enter the data to ensure that it is relevant to your measure. Regularly review the fields to which the data is being inputted. Document any rules that are to be applied to the data when processed and how any codes, dates, or other data are to be interpreted to form the measure inputs.

 

 

5. Put Measure into Production

Develop a reporting procedure for pulling the relevant data on a regular basis, calculating measure results, and reporting them to appropriate parties. Assign accountability for each step of this regular reporting process. Monitor any changes over time to the accuracy of the data and applied rules, as well as the relevancy of the data for the measurements needed of the organisation.

At Crossroads we have discovered that many of our clients can undertake steps 1 and 2, but when it comes to step 3, they begin to quiver. They know that they should be measuring however, they just don’t have the systems to do so easily. To really do this efficiently you need a good HRIS (Human Resource Information System); a cost effective system that can capture relevant data and that is retrievable when you need it!

In order to help our clients to create an easy to use repository for their valuable people data, we have teamed up with Favour. Favour are the creators of WinHR and WinOHS a HRIS system that is able to capture and report back on all your essential people data. Created 11 years ago this well established Australian owned and developed product is the most cost effective system on the market.

WinHR and WinOHS can capture and report back on all aspects of your people from biographical data, to training, to leave and remuneration. It will easily integrate with your payroll system to ensure that efficiencies to ensure your systems are streamlined.