…to measure, analyse HR metrics in organisations
The Chartered Institute of Human Resource Management, Ghana (CIHRM), in partnership with KPMG, MData Consult and HR Network, has signed a Memorandum of Understanding (MoU) to undertake research to enable organisations to benchmark their human resource (HR) practices against industry standards and best practices.
The signing of the MoU took place at the launch of the maiden edition of the HR Outlook and Benchmark Survey Ghana.
Chief Executive Officer (CEO) of CIHRM, Ebenezer Agbettor, explaining the significance of the four partners coming together to undertake such institutional collaborative research, said the research findings will provide insights for better people management and decision-making in organisations; and credible research findings are going to serve as factual data that can be used by HR professionals.
He said: “Whatever information we are able to come out with after the research is meant to influence decisions for best practices which, if enforced, will have a bottom-line”.
He further added that unavailability of data for organisations when it comes to HR management somehow affects salary and benefits payment, which in turn, affect productivity.
“If authentic information on salary and benefits is made available per industry, organisations would be compelled to look at it and do the needful, which will encourage employees to work better,” he noted.
CEO of MData Consult Limited, Eric Afful-Dadzie, also established that HR plays a vital role in shaping the success of any organisation.
“It is through effective HR management that we attract, retain and develop the best talent, create a positive work culture, and drive organisational performance,” he said.
“However, to achieve these goals, we need reliable data and metrics to guide our decisions and measure our progress,” he added.
Mr. Afful-Dadzie also indicated that one of the key benefits of the benchmarking survey is the opportunity to compare one’s organisation’s HR metrics with those of its peers.
“The comparison will help you understand how you stack up against similar organisations in terms of key HR indicators, such as employee engagement, retention rates, training and development investments, diversity and inclusion efforts and others,” he said.
He further mentioned demographics metrics, HR efficiency metrics, recruitment metrics and business outcomes metrics as the four HR metrics the survey research will be looking at.
