"What was most striking or interesting is that lower performers were more
likely to measure ‘cost’ metrics than high-performing organizations,” says
Mary Ann Downey, i4cp’s Talent Pillar director. “While at first glance this
may seem counterintuitive, it most likely reflects the attitude that
low-performing organizations see their employees as a mere expense and not a
source of competitive advantage.”
I believed this anecdotally, but this study has really proved my gut, which is those companies that look at "cost per" type of metrics rather than "value add" type of metrics really view their employees differently. And the big AHA is that LOWER performing companies have this practice according to this i4cp survey.
Another interesting finding was in regards to measuring turnover. While 81% measured attrition of voluntary and involuntary resignations, only 40% used other variables in the analysis. (demographics like tenure, length of service, high potentials, etc). I feel that you must "peel back the onion" (click to see previous post) to get to root causes of employee attrition...even in these crazy times.
According to the study, one of the key components to measure is employee engagement, even now. 93% of the high performing companies used engagement surveys while only 79% of the lower performing companies utilized surveys. Just like with turnover it is critical to get to root causes of employee satisfaction and dissatisfaction. That type of data is essential for HR professionals to understand what initiatives should be priorities. If your customers value and prioritize them, then HR should focus on those things that drive engagement.
So if you are not getting hte results you want and your are focused on cost rather than value and impact, yo may wantt o consider different metics and an engagement survey.
Thinking about an engagement survey for your employees? Click here for a sample employee engagement survey.