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The Importance Of HR Metrics And Fit In Today's Competitive Business Environment

In today’s competitive business environment, HR professionals are under increasing pressure to demonstrate their work’s value and contribution to the delivery of organisational goals. This position means quantifying, measuring, and tracking the impact of various HR initiatives on the bottom line through HR metrics and fit.

Organisations can use several fundamental HR metrics to measure the impact of HR initiatives. These include employee engagement, absenteeism rate, HR complaints, retention rate, and early turnover rate. By tracking these metrics, HR professionals can gain insights into the health of the organisation’s workforce and identify areas where HR initiatives are positively impacting.

For example, a high employee engagement score often correlates with low absenteeism and high retention rates. This correlation suggests that HR initiatives designed to improve employee engagement can also positively impact the organisation’s bottom line. Such areas include cost savings and productivity increases resulting in better business performance.

The Right Fit From The Outset To Support HR Metrics

Of course, no single “magic bullet" metric can definitively deliver the benefits of HR initiatives. However, most agree that consistently selecting the right people from the outset is a significant factor. This scenario fits across hiring, promoting, or succession planning. It doesn’t matter if it’s manual or mental work. Ensuring an employee has “fit” with the role, the manager, the team, and the organisational culture must be the starting point.

“Fit” is when an employee’s skills, interests, and personality align with their job and work environment. Studies have shown that employees with a good “fit” in their jobs are more productive, engaged, and less likely to leave their organisations.

What Do Studies Say?

One study by The University Of Warwick found that employees who reported:

“Loving" their jobs were 12% more productive than those who “liked" their jobs, and
31% more productive than those who “drudged" through their work.

The study also found that employees who loved their jobs were 35% less likely to take sick days and 13% less likely to leave.

Another study by the Gallup Organization found that engaged employees are 21% more productive than disengaged employees.

Engaged employees are also more likely to stay with their companies, with a much lower turnover rate (by 67%) than disengaged employees.

The benefits of having a good “fit” with your job are not just limited to the individual employee. Companies with engaged employees also tend to be more profitable.

A study by the Aberdeen Group found that companies with highly engaged employees have:

22% higher customer satisfaction rate,
20% higher employee retention rate, and
10% higher operating profit margin.

So, if you want happier, less stressed, more productive, more loyal employees that are more likely to stay with your company for the long term, it’s important to match job requirements with employee skills and interests from the start of their journey. From the get-go, this can be achieved through careful job analyses and selection processes.

HR Metrics And Fit Using Psychometric Assessments

When choosing a psychometric assessment platform to assist you with the hiring process, it’s crucial to find one that allows you to customise the duration, complexity, content, and cost of your assessments to match the role and your organisation. Additionally, you should also be able to:

Design the perfect assessment that measures the precise attributes of the role you’re working on
Have the ability to develop and collect additional valuable information for each candidate as part of the registration process from the platform
Produce easy-to-use reports that highlight focus areas and include competency-based interview questions for less-experienced interviewers
Export people data easily for analytics to help you make sense of your people in your HR role on behalf of your organisation.

If you are an HR professional looking for a way to implement reliable HR metrics and improve the “fit" of your employees to better your organisation’s business position, please get in touch with us for more information.

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GR8PI - ONE powerful platform to help you navigate the complete lifecycle of your employees. GR8PI is the key to unlocking potential, driving performance and increasing staff productivity.

With GR8PI, you control the length, complexity and cost of the assessment. Our fully customisable, scientifically validated, psychometric assessment platform puts you in control of the recruitment assessment process.

Using a menu of fully validated and reliable psychometric dimensions and 360° surveys, GR8PI creates totally
customised assessments and surveys, specific to the competencies, values and objectives of each role,
department and organisation – anywhere in the world.

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“GPI was recommended to me by one of the most successful businessmen I know who said they have been a key flanker to his scaling story. We use GPI for our own company and all our portfolio companies. Not only do GPI have tools they can customise for practically every HR situation but the diagnosis around same, advice on which tools to use and the outcomes are priceless."

Mark F.
(Director- Private equity Firm)

“We are using the GPI profiling tool to test for values fit, what we are observing is that we are identifying the critical success factors to base our hiring decisions on.
Whilst we would like to think we were good at picking this up before, GPI provides us an evidence based, tangible tool to confirm this and has been a real value add to our hiring decisions.”

Alison P.
(Group HR Manager -Safety Equipment company)

“Great People Inside has significantly improved the quality of our selection decisions and provides us with more confidence when hiring.The insights also help managers to set our people up for success with their first development plan.“

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“Great People Inside has significantly improved the quality of our selection decisions and provides us with more confidence when hiring. The insights also help managers to set our people up for success with their first development plan.”

Karen Hailwood
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“Jaybro has been working with Great People Inside (GPI) for almost 3 years. The flexibility of their assessment tool is impressive. It has helped us hire people who fit and has also enabled us to incorporate the tool as the foundation of our capability framework. It’s improved our hiring success, reduced employee turnover by 76%, and has also assisted us in developing our employees for their future roles”

Alison Passey
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“If anyone is considering using GPI, from my perspective it’s a “no brainer”! It’s a great hiring tool because it takes the guesswork out of hiring and it helps you find the best person for your teams. We would never hire again without using this tool.”

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