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As the HR function continues to evolve, so too does the increased need to demonstrate that HR related initiatives are in fact paying off and are worth the investment and expense. Yet HR departments and leaders continue to struggle with methods for quantifying their efforts and results. While other functional areas of businesses (e.g., marketing, finance) 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 how to convert it to hard data worthy of respect from the C-suite. This session teaches participants to clearly and succinctly demonstrate ROI as it relates to HR-related functions to prove an HR department's value and worth, and provides tools to make the best HR-related decisions for the organization.
- Employee benefits: Simple methods for quantifying how fully provided, shared cost, and voluntary benefit plans contribute to your orgnaizations’ ability to retain and attract talent.
- Recruiting and sourcing: Ways to document all associated expenses (e.g., time, postings, testing, agencies, tools, HRIS) to show the resulting ROI.
- Professional development/training: Tracking the mix of cost consumed for said efforts plus the end results and impact on the businesses.
- Turnover: How to measure its economic impact on your business, how to use this data to fuel other preemptive initiatives, as well as how to convert the data collected from exit interviews and resulting action items into a dollar value to demonstrate this value and effort.
- Technology:- Correlating the expense associated with implementing new tech tools in HR and the resulting impact on efficiency and flow of your HR department.