Human resource management is all about managing the employees of an organization efficiently and efficiently. The main motive is to improve the overall experience for an employee in an organization through various events, programs, strategies etc. Implementation of well-planned HR strategies is a must for every HR team to work efficiently.
By analyzing and maintaining a statistical record of data, the HR team can produce positive results. Corporations make use of advanced HR Systems and software to keep track of employee data. This impacts the pay scale and the compensation policy as a whole. It further helps the organization to improve the bottom line as well.
Let us now understand the vital role of HR strategies in boosting the performance of employees.
- Employee Engagement Programs: Research indicates that companies with active employee engagement programs achieve a 26% rise in their annual company revenue. Such programs also help in improving the competitiveness and performance amongst the employees which ultimately lead to organizational growth. While some organizations take such programs seriously, those who fail to understand its importance do witness deteriorating employee performance too.
- Employee Retention Programs: Retention programs are equally important as hiring programs. Employees are more likely to switch their jobs within a few months of joining due to poor retention programs. Going by HR statistics, 79% of the employees have serious engagement and retention problems. Organizations with active retention programs have seen 26% or higher annual revenue as compared to others.
- Recognition and Appraisals: Recognition and appraisals help an organization in boosting the morale of their employees. It is very important to provide the employees with meaningful recognition of their work. A good R&R strategy can boost employee satisfaction which ultimately leads to better performance.
- Reviews and Ratings: Reviews and ratings are an important factor that employees consider before joining an firm. In fact, attrition in a company is a direct result of the reward and rating system. As per HR statistics reports, 61% of the job seekers rely on reviews and reports before making a final job decision. So, it becomes important for HR Managers to devise a rating system that is employee-friendly and keeps attrition in check.
- Brand Name Management: Brand name of an organization can positively influence the hiring process. A renowned brand attracts the attention of the candidate and makes him want to be a part of the organisation. As per HR statistics, almost 69% are likely to apply for a job with a company having a good brand name.
From hiring to measuring the productivity and personal growth of an employee and the organization, HR statistic always plays a very important role. With the help of HR statistics,one can gauge the growth and overall performance of the employees and help them improve and work efficiently. The human resource management statistics reports bring clarity about what is wrong with the HR process. HR statistics facilitates you to compare your performance throughout the year.