Firms implement technology to avail themselves of their multitude of benefits. It is as simple as that. But in the process, they forget to measure key metrics to assess if it has actually been beneficial or just another added cost.
Similarly, employing a cloud-based HR platform to improve the management of a firm’s human resources can deliver transformative benefits.
However, it is necessary for firms to measure whether this implementation has been successful or not.
Also Read: HR Technology: Revolutionizing Human Resource Management
Discover the key metrics to measure whether your firm has successfully implemented the cloud-based HR platform.
By understanding these metrics, your firm can not only assess the impact of the HR platform but also learn measuring which metrics are a greater priority.
Metric 1: Employee Adoption Rate
Any system is only effective and successful if there is mass adoption. For a cloud-based HR platform, there must be a high adoption rate by employees.
Find the percentage of employees using the platform by stacking up total users with total employees.
If the percentage is high, it implies the platform is user-friendly and employees find relevance and comfort in using it.
A low percentage can imply a gap in platform training, irrelevance to users, and more issues.
Metric 2: Various Recruitment Processes
Recruitment and onboarding are two continuous and challenging processes. The metrics to measure are the quality of the hire, document management, time-to-fill, and more.
A cloud-based HR platform can help improve the efficiency of recruiting and onboarding. With this platform, both processes should improve the attraction and management of top talent.
Metric 3: Time Take in Completing Other HR Tasks
Apart from onboarding, there are other tasks such as managing leaves and attendance requests, processing payroll, and performance reviews that should be assessed.
These administrative tasks often involve repetitive and monotonous processes that eat up company time. A cloud-based HR platform should significantly reduce time taken and improve efficiency.
This will free up human resources for more strategic and complex tasks.
Metric 4: Training and Development Metrics
Training is an essential part of an employee’s onboarding. There are many metrics to measure such as the completion rate of training programs, cost of training per person, efficiency of the training.
A cloud-based HR platform has many management features that help in training. A proper evaluation of such metrics reveals whether employees are receiving effective training in a timely manner.
Closing Thoughts
A successful implementation of a cloud-based HR platform depends on measuring key metrics. The four highlighted above should hold priority for HR teams looking to assess overall benefits.
