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saba_anj@yahoo.com
5

I got this document hoping that it will be useful for the HR industry people as well!

The list includes absenteeism, turnover, compensation and benefits costs.

Below are some common measurements :

1. Human Resource Expenses (HR Department Costs/Budget)

As a percentage of operating costs

As a percentage of revenue

Per employee

2. Total Investment in Human Capital (Total HR Expenses Plus All Salaries and Benefits of Non-HR Staff)

As a percentage of operating costs

As a percentage of revenue

Per employee

3. HR Expenses by Function

Recruiting and selection cost as a percentage of total HR

Recruiting and selection cost per new employee hired

Training/learning/development costs as a percentage of total HR

Training/learning/development costs per employee

Training/learning/development costs as a percentage of compensation

Compensation costs as a percentage of total HR

Compensation costs as a percentage of operating expenses

Compensation costs per employee

Benefit costs as a percentage of total HR

Benefit costs as a percentage of operating expense

Benefit costs as a percentage of compensation

Benefit costs per employee

Employee relations costs as a percentage of total HR

Employee relations costs per employee

Compliance and fair employment costs as a percentage of total HR

Compliance and fair employment costs per employee

4. HR Expenses by Process/Programming

Analysis and assessment costs as a percentage of total HR

Design and development costs as a percentage of total HR

Implementation and delivery costs as a percentage of total HR

Operations and maintenance costs as a percentage of total HR

Measurement and evaluation costs as a percentage of total HR

5. Selected HR Costs

Turnover cost per employee leaving

Turnover cost as a percentage of compensation

Accident cost per incident

Safety cost per employee

Absenteeism cost per absence

Absenteeism cost as a percentage of average wage rate

Health care cost per employee

Health care cost as a percentage of total benefits

Source: Excerpted from Investing in Your Company’s Human Capital, by Jack Phillips. Copyright 2005 by AMACOM Books.

From China, Guangzhou
soms23
16

Hi Saba,
You have posted a very good article. This topic is very rarely discussed here.
Please let me know :
1. How important is accessing Human Capital in an organisation?

2. How do we make the best out of the inferences?
Regards,
Soumya Shankar

From India, Bangalore
saba_anj@yahoo.com
5

Hi Soumya,
Sorry for replying you late due to my busy routines in the last few days!
Well referring to your first question, it is really important for a company to access its human capital as it helps for :
1. Staff training costing for each department/skill set wise-talent pool
2. Provides an insight for the future budgeting for the employees as per their skill set level (intellectual knowledge) and also department wise.
3 To calculate and judge the effectiveness of the candidates hired as while hiring a candidate only efficiency is understood so also a best way to measure effectiveness.
4. To also determine the talent pools that are critical to a company's success.
5. to prepare the succession plan for the crucial talent pool.
But before we go beyond to measure the human[/list]

From China, Guangzhou
Atomleaf
11

Hi Anjum Saba
Thats a good topic started. ya Soumya's queries also good. for now i can say, its good . im unable to give solutions for this... i shall give u beautifull article on this soon..
Regards
:D :D :D

From India, Madras
saba_anj@yahoo.com
5

Hi Soumya,

Sorry for replying you late due to my busy routines in the last few days!

Well referring to your first question, it is really important for a company to access its human capital as it helps for :

1. Staff training costing for each department/skill set wise-talent pool

2. Provides an insight for the future budgeting for the employees as per their skill set level (intellectual knowledge) and also department wise.

3 To calculate and judge the effectiveness of the candidates hired as while hiring a candidate only efficiency is understood so also a best way to measure effectiveness.

4. To also determine the talent pools that are critical to a company's success and also to prepare the succession plan for the crucial talent pool.

But before we go beyond to measure the human capital we will have to

-- forcast the supply and demands of skills (always in flux) as per client's

requirement

a)Forecasting of clients' demand to identify the skills that are commoditizing ahead of the market i.e. what skills clients will be needing after 3-5 years

b) To assemble workforce capabilities to meet clients' need.

c) The catagorization of skills and employees capabilities and identification of job roles that are linked with multiple skills.

If we invest on human capital and devise flexible retention plans that are flexible/ more career oriented will also help in reducing turnover rate.

From China, Guangzhou
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