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Is turnover rate currently lower than the chief competitor

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Reference no: EM131132104

"It's too expensive!"
"Sorry, we cannot afford it at this time."
"We have always done it this way; why change? This works just as well."

Statements like these are often reasons new HR metrics are supported. For organizations to support the use of new HR metrics, there needs to be context so the value can be seen and the support can be given.

For example, it is not enough to say that the turnover rate has remained fairly low since the implementation of a new HR initiative. Strategic partners need more context in order to see the value. Has turnover decreased since last year or since the 1990s, and by how much? Or, is the turnover rate currently lower than the chief competitor? The measurement is only valuable if it is relevant and aligns with the organization's strategic goals. Being aware of the common challenges of implementing new HR metrics can help HR professionals prepare to overcome these challenges.

Book: The HR Scorecard: Linking People, strategy, and Performance Chapter 5

With these thoughts in mind:

Write a cohesive and scholarly response based on your readings and research this week that addresses the following:

•How you might overcome at least one of the common challenges of implementing a new HR metric?

For example:

?High investment

?Continued use of legacy metrics

?Accessibility of value-added metrics

•Provide 3-4 examples from the literature or your experience that have shown successful in overcoming one of these common challenges.

Reference no: EM131132104

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