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As the HR function evolves, so too does the increased need to show that HR-related initiatives are in fact paying off and are worth the expense. While other functional areas of businesses (e.g. Marketing, Finance) are laser focused on converting their efforts into direct ROI, you 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 cover:
- Employee Benefits: simple methods for quantifying how fully provided, shared cost, and voluntary benefit plans contribute to your organization’s ability to retain and attract talent.
- Recruiting and Sourcing: Ways to document all associated expenses (e.g. Time, Postings, Testing, Agencies, Tools, HRIS) in order 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 the economic impact of turnover and how to use this data to impact other preemptive initiatives.
- Technology: Correlating the expense associated with implementing new tech tools in HR and the resulting impact on efficiency and flow of your HR department.