HR Resource Tools
HRResource.com has put together several HR tools to help you analyze several aspects of your business. With these tools, you will be able to collect data about your organizations turnover, hiring process and other information that will allow you to measure your productivity and profitability. These tools will help quantify your workforce and show you what necessary changes need to be made to improve your efficiency.
Turnover Rate - One of the best ways to measure the happiness and efficiency of your employees is by measuring your turnover rate. If your organization is providing your employees with a good work environment where they can continue being productive you will have less turnover and more profitability.
Turnover Cost - This calculation takes into consideration the cost of termination, hiring and training new staff. With the ability to calculate your turnover costs, you will realize the importance of a low turnover rate and eventually make the necessary change to produce substantial savings in employee benefit programs.
Cost Per Hire - Total cost per hire takes into consideration the direct and indirect costs of recruiting and training a new employee.
Average Cost Per Hire - This tool allows you to take your cost per hire and figure out your average cost per hire for your organization, department or individual recruiters.
Cost of Bad Hire - Hiring can be a timely and expensive process. This tool will help you estimate how much a single bad hire can cost your company.
Healthcare Expense - Total healthcare paid by an organization in a given fiscal year divided by the number of employees in the organization will give you your healthcare expense per employee. Total health care expenses include employee and company-paid premiums, stop-loss insurance and administrative fees.
HR-to-Employee Ratio - The generally accepted HR to employee ratio is 1 HR to 90-100 employees. This ratio provides an easy way to compare HR departments between organizations.
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