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

HR Metrics, Reporting and Financial Mgmt Flashcards

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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
External Hire Rate
external hires / # all positions filled
26
Avg Time to Fill from Outside Hiring
sum of all external days to fill / # external recruits
27
Cost of External Hires
total external hiring costs/ # external recruits
28
Quality of External Hires by Source
avg performance ratings of new recruits after 3 months from each hiring
29
Turnover
(resignations + retirements + involuntary terminations)/headcount
30
Executive Voluntary Turnover Rate
(executive resignations + executive retirements) / executive headcount
31
Succession Planning Rate
of succession planning candidates/executive level headcount
32
Grievance Incidence
of open grievances/unionized headcount
33
% of grievances closed
of grievances closed/# of open grievances
34
Arbitrated grievance rate
of grievances gone to arbitration/# of open grievances
35
Cost Per FTE
L & D cost/FTE
36
Cost as a % of Revenue
L & D cost/revenue
37
Cost as a % of Payroll
L & D cost/labour costs
38
Incidence
of learning & development events / FTE
39
Duration
of learning & development hours / FTE
40
Participation
of employees attending learning & development events / # of all employees
41
Research Process
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
Research Designs
survey, experimental, qualitative, existing research
43
Surveys
used to assess change or create change
44
Sampling
deciding who and how many people should participate
45
Types of Sampling
Random sampling, stratified smapling, sampling error
46
Random Sampling
group of employees chosen at random from the whole organization or population
47
Stratified Sampling
group of employees who represent the organization in some way (ie. gender, dept)
48
Sampling Error
sample is insufficient to reflect the entire population
49
Types of Questions
structured questions, open-ended questions
50
Structured Questions
easy to analyze and limited in scope
51
Open Ended Questions
difficult to analyze, not restrictive in scope
52
Survey Distribution Methods
hard copy mail, email, over the internet, automated telephone
53
Criterion Measures
ensure measuring what is important
54
Criterion Relevance
ensure criteria is relevant to what we are trying to predict
55
Criterion Deficiency
occurs when haven't assessed all the necessary criteria
56
Criterion Contamination
occurs when we measure things that are irrelevant
57
Nominal Scales
list of variables that have no "value" (ie. dept name)
58
Ordinal Scales
list of variables that have an order (oe. best or least, want most want least)
59
Interval Scales
scale that tells the mathematical difference between two responses
60
Ratio Scales
show the relationship between two variables (sales per employee)
61
Validity
ensures the measure is accurately assessing what is supposed to measure
62
Realiability
ensures the consistency of the measure
63
Types of Validity
content validity, criterion-related validity, predictive validity, construct validity, concurrent validity
64
Content Validity
ensures the measure accurately measures what it is supposed to
65
Criterion-Related Validity
ensures what is being measured is relevant
66
Predictive Validity
ensures that the measure can predict the dependent variable
67
Construct Validity
measures abstract constructs (IQ and Personality Type)
68
Concurrent Validity
when it can be show that current high performers also do well on the test
69
Test-retest Reliability
person achieves teh same score when tested twice using the same test
70
Split-half Reliability/Internal Consistency Reliability
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
Inter-rater Reliability
ensures reliability across raters; (ie two different raters have scored a candidate similarly)
72
Measures of Central Tendency
mean, mode, median, percentiles
73
Regression Analysis
uses correlations to predict an outcome
74
Affinity Diagrams/Mind Maps
enable us to look at groups of related issues as a whole
75
Cause and Effect Diagrams/Fish Bone Diagrams
identify a problem, sorting causes into four categories (machinery, methods, materials, people)
76
Gantt Charts
chart activities against dates
77
Critical Path
minimum time between start and finish of a project
78
Delphi Technique
brainstorming using a questionnaire
79
Nominal Group Technique
when voting follows a brainstorming activity
80
SWOT Analysis
examining Strength, Weaknesses, Opportunities or Threats
81
Utility Analysis
assessing the dollar value of an initiative in terms increased productivie or performance

Certified Knowledge Exam (9 decks)

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