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Certified Knowledge Exam > HR Metrics, Reporting and Financial Mgmt > Flashcards

HR Metrics, Reporting and Financial Mgmt Flashcards

1
Q

Labour Costs per FTE

A

labour costs/FTE

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2
Q

Labour Cost Revenue Percent

A

Labour costs/revenue

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3
Q

Cost of Benefit as a % of Total Labour Costs

A

benefit costs/labour costs

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4
Q

Return on Investment (ROI)

A

benefit-cost/cost

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5
Q

Web-Based HR Systems

A

these are through the internet - such as Employee Self-Serve, Manager Self-Serve or HR Portals

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6
Q

HRMS

A

Enterprise Resource Planning (ERP), Stand Alone HRIS, Speciality Products

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7
Q

HR Audit

A

review of HR policies, programs, processes, and documentation to identify opportunities to improve efficiency, effectiveness, customer satisfaction and legal compliance

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8
Q

Purpose of Efficiency Metrics

A

assessing whether things are being done right

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9
Q

Purpose of Effectiveness Metrics

A

assessing whether the right things are being done

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10
Q

Purpose of Operational Metrics

A

assessing efficiency and effectiveness of programs and services

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11
Q

Purpose of Strategic Metrics

A

assessing the linkage between HR programs and services and the organizations’ strategic goals

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12
Q

5C Model of HRM Impact

A

compliance, client satisfcation, culture management, cost control, contribution

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13
Q

Use of Metrics

A

track trends, establish base lines, conduct benchmarking, measure impact, and to justify strategic decisions

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14
Q

HR Dashboard

A

visually displays important HR metrics

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15
Q

Types of Productivity Metrics

A

absenteeism measures, overtime measures, human capital ROI

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16
Q

Types of Recruitment Metrics

A

% of positions actively recruited for vacancy rate, external hire rate, avg time to fill position, cost of external hires, quality of external hires

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17
Q

Types of Retention Metrics

A

turnover, executive voluntary turnover rate, succession planning rate

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18
Q

Types of Labour Relations Metrics

A

grievance incidence, % of grievances close,d arbitrated grievance rate

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19
Q

Types of L&D Metrics

A

cost per fte, cost as % of revenue, cost as % of payroll, incidence, duration, participation

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20
Q

Absenteeism Formula

A

of workdays missed due to illness per FTE (sick days/FTE)

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21
Q

Overtime Formula

A

Avg # of OT hours worked by each individual (OT/individual headcount)

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22
Q

Human Capital ROI

A

rate of return for each dollar invested in employee pay & benefits (Revenue - [Operating Expenses -(Compensation and Benefits Costs)] / Compensation and Benefits Costs

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23
Q

Compa-ratio for an Individual

A

individuals salary/midpoint of salary band

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24
Q

% of Positions Actively Recruited for Vacancy rate

A

vacant positions/headcount

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25
Q

External Hire Rate

A

external hires / # all positions filled

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26
Q

Avg Time to Fill from Outside Hiring

A

sum of all external days to fill / # external recruits

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27
Q

Cost of External Hires

A

total external hiring costs/ # external recruits

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28
Q

Quality of External Hires by Source

A

avg performance ratings of new recruits after 3 months from each hiring

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29
Q

Turnover

A

(resignations + retirements + involuntary terminations)/headcount

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30
Q

Executive Voluntary Turnover Rate

A

(executive resignations + executive retirements) / executive headcount

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31
Q

Succession Planning Rate

A

of succession planning candidates/executive level headcount

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32
Q

Grievance Incidence

A

of open grievances/unionized headcount

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33
Q

% of grievances closed

A

of grievances closed/# of open grievances

34
Q

Arbitrated grievance rate

A

of grievances gone to arbitration/# of open grievances

35
Q

Cost Per FTE

A

L & D cost/FTE

36
Q

Cost as a % of Revenue

A

L & D cost/revenue

37
Q

Cost as a % of Payroll

A

L & D cost/labour costs

38
Q

Incidence

A

of learning & development events / FTE

39
Q

Duration

A

of learning & development hours / FTE

40
Q

Participation

A

of employees attending learning & development events / # of all employees

41
Q

Research Process

A

1) Identify the Problem
2) Review the Situation
3) Formulate a Hypothesis
4) Design a Program
5) Implement the Program
6) Evaluate the Program and repeat if necessary

42
Q

Research Designs

A

survey, experimental, qualitative, existing research

43
Q

Surveys

A

used to assess change or create change

44
Q

Sampling

A

deciding who and how many people should participate

45
Q

Types of Sampling

A

Random sampling, stratified smapling, sampling error

46
Q

Random Sampling

A

group of employees chosen at random from the whole organization or population

47
Q

Stratified Sampling

A

group of employees who represent the organization in some way (ie. gender, dept)

48
Q

Sampling Error

A

sample is insufficient to reflect the entire population

49
Q

Types of Questions

A

structured questions, open-ended questions

50
Q

Structured Questions

A

easy to analyze and limited in scope

51
Q

Open Ended Questions

A

difficult to analyze, not restrictive in scope

52
Q

Survey Distribution Methods

A

hard copy mail, email, over the internet, automated telephone

53
Q

Criterion Measures

A

ensure measuring what is important

54
Q

Criterion Relevance

A

ensure criteria is relevant to what we are trying to predict

55
Q

Criterion Deficiency

A

occurs when haven’t assessed all the necessary criteria

56
Q

Criterion Contamination

A

occurs when we measure things that are irrelevant

57
Q

Nominal Scales

A

list of variables that have no “value” (ie. dept name)

58
Q

Ordinal Scales

A

list of variables that have an order (oe. best or least, want most want least)

59
Q

Interval Scales

A

scale that tells the mathematical difference between two responses

60
Q

Ratio Scales

A

show the relationship between two variables (sales per employee)

61
Q

Validity

A

ensures the measure is accurately assessing what is supposed to measure

62
Q

Realiability

A

ensures the consistency of the measure

63
Q

Types of Validity

A

content validity, criterion-related validity, predictive validity, construct validity, concurrent validity

64
Q

Content Validity

A

ensures the measure accurately measures what it is supposed to

65
Q

Criterion-Related Validity

A

ensures what is being measured is relevant

66
Q

Predictive Validity

A

ensures that the measure can predict the dependent variable

67
Q

Construct Validity

A

measures abstract constructs (IQ and Personality Type)

68
Q

Concurrent Validity

A

when it can be show that current high performers also do well on the test

69
Q

Test-retest Reliability

A

person achieves teh same score when tested twice using the same test

70
Q

Split-half Reliability/Internal Consistency Reliability

A

score a person acheives on one-half of the test is the same as the score they receive on the other half of the test

71
Q

Inter-rater Reliability

A

ensures reliability across raters; (ie two different raters have scored a candidate similarly)

72
Q

Measures of Central Tendency

A

mean, mode, median, percentiles

73
Q

Regression Analysis

A

uses correlations to predict an outcome

74
Q

Affinity Diagrams/Mind Maps

A

enable us to look at groups of related issues as a whole

75
Q

Cause and Effect Diagrams/Fish Bone Diagrams

A

identify a problem, sorting causes into four categories (machinery, methods, materials, people)

76
Q

Gantt Charts

A

chart activities against dates

77
Q

Critical Path

A

minimum time between start and finish of a project

78
Q

Delphi Technique

A

brainstorming using a questionnaire

79
Q

Nominal Group Technique

A

when voting follows a brainstorming activity

80
Q

SWOT Analysis

A

examining Strength, Weaknesses, Opportunities or Threats

81
Q

Utility Analysis

A

assessing the dollar value of an initiative in terms increased productivie or performance

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