Most important HR KPIs to track in 2023

Most important HR KPIs to track in 2023

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Most important HR KPIs to track in 2023
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HR Key Performance Indicators or KPIs are the metrics used to measure the performance of an organization's workforce. HR uses these metrics so they can assess their strategy. So let's take a look at the best of these KPIs to watch.

Our list starts with employee retention. This is one of the most crucial HR KPIs. A high value means that employees are satisfied with their jobs and will stay, while a low retention rate indicates that employees are not satisfied and are considering leaving. By tracking this KPI, organizations can identify problem areas and take corrective action before employees leave. You can measure this key performance indicator by tracking various HR metrics, using talent management programs.

The second KPI is employee satisfaction. Another important metric for HR to track. This indicates how much employees enjoy their work and how motivated they are to perform well. This is usually determined by conducting employee satisfaction surveys. You can use software like Qualtrics or SurveyMonkey to create these surveys and also analyze the results. Questions should focus on the company's work culture, their happiness with their role, and whether they feel valued and respected.

The third KPI is Time to Hire. This is simply the time it takes for a company to fill an open position. Track this metric by recording the number of days it took to fill an open position. This KPI is an indication of the efficiency of their recruitment process. A lengthy process may require you to assess whether the job description is clear and whether the skills you are looking for are reasonable.

Watch the video for more information.
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