What metrics should you track to improve HR predictive analytics?

2 Retention metrics

Retention metrics measure the ability and willingness of your employees to stay with your organization. They can be used to gain insight into the reasons for turnover, the effect of retention on productivity and profitability, and the strategies to reduce attrition. For instance, the turnover rate is the percentage of employees who depart from the organization within a certain period, while the voluntary turnover rate is the percent of employees who leave by choice. The involuntary turnover rate reflects the number of employees who are dismissed or laid off in a given period, and the retention rate is the proportion of employees who remain in the organization over a given period.

3 Engagement metrics

Engagement metrics measure the level of commitment, satisfaction, and motivation of your employees. They can help you assess the alignment of your employees with your organizational values, vision, and goals, as well as their involvement and contribution to their work. For instance, employee satisfaction gauges how content employees are with their work and workplace; employee net promoter score (eNPS) assesses the likelihood that employees would recommend your organization to others; the employee engagement index is a composite score reflecting various aspects of employee engagement; and employee performance measures the extent to which employees achieve their objectives and deliver quality results. All these metrics can provide valuable insights into employee engagement.

4 Development metrics

Development metrics measure the opportunities and outcomes of your employee learning and growth initiatives. They can help you evaluate the effectiveness and impact of your training and development programs, as well as the skills and competencies of your workforce. For example, you can track learning hours (the average number of hours that employees spend on learning activities within a given period), learning completion rate (the percentage of employees who complete the assigned or enrolled learning courses or modules within a given period), learning satisfaction (the degree to which employees are satisfied with the relevance, quality, and delivery of the learning content and methods), and learning transfer (the extent to which employees apply the knowledge and skills acquired from learning to their work). Tracking these metrics enables you to improve your HR predictive analytics by collecting more data, identifying patterns and correlations, testing hypotheses, and generating insights. You can also use these metrics to set goals, monitor progress, and evaluate results. Nevertheless, these metrics are not exhaustive or definitive; you may need to adapt them to your specific context, objectives, and challenges.