Sessions
Concurrent Session
Translating HR to Net Profit: How to Show the Real Bottom Line Impact of HR
Convention Center 207
Tuesday 06/21/2016 02:15 PM - 03:30 PM
1.25 SHRM PDCs, 1.25 Business Credit
| Competencies: Communication, Critical Evaluation, Business Acumen
| Intended Audience: Senior-Level
Workplace Application:
You will learn how to demonstrate the ROI of HR-related functions and will leave with practical, simple tools to make a strong case for HR.
Repeated from Monday at 2:00 p.m.
HR departments and leaders continue to struggle with methods for quantifying their efforts. While other functional areas of businesses are laser focused on converting their efforts into direct ROI, HR professionals are not always clear on what to present, how to present it, and in general how to convert what some argue are soft points and approaches to harder data worthy of respect. This session will address:
- Simple methods for quantifying how fully provided, shared cost, and voluntary benefit plans contribute to your company's ability to retain and attract talent.
- Ways to document all associated expenses (e.g. Time, Postings, Testing, HRIS) to show the resulting ROI.
- Tracking the mix of cost consumed for said efforts plus the end results and impact on the businesses.
- How to measure the economic impact of turnover and how to use this data to fuel other preemptive initiatives, as well as how to utilize exit interviews and covert the data collected and resulting action items into a dollar value that demonstrates this value and effort.
- Correlating the expense associated with implementing new tech tools in HR and the resulting impact on efficiency and flow of your HR department.
