CHRM/IHRM HR Convention on Performance Management: What Works, What Doesn’t & What Next?
The College of Human Resource Management (CHRM) held their 2nd HR convention last week, at the Pride Inn Paradise Beach Resort in Shanzu, Mombasa. Among the keynote speakers invited to speak, was Perminus Wainaina, the Managing Partner and Head of Recruitment at Corporate Staffing Services.
Running from Wednesday, 22nd March to Friday, 24th March, 2017 and planned for the Coastal & Eastern region, the HR Convention was the second of its kind. The first one, dubbed Nyanza & Western Chapter, took place in December of last year and was held in Kisumu. Last week’s forum brought together HR professionals and business leaders together to discuss performance management in organizations.
The convention, themed “Performance Management: What Works, What Doesn’t and What Next?” sought to address various HR topics. These included Talent management in the 21st Century, Trends and perspectives in performance management, Role of HR analytics in managing organization performance, Employee engagement, HR and the Law, and Developing a High Performance culture.
HR Analytics in Managing Organization Performance
Speaking on the Role of HR Metrics in Managing Organization Performance, Perminus Wainaina mentioned there is a growing need for organizations to adopt analytics in their HR processes. He explained that by analyzing data and applying analytical processes in an organization’s HR department, it would help solve multiple HR-related business problems.
“When HR analytics are used to manage performance in an organisation, the business is able to measure and manage issues like turnover rate, span of control and employee engagement. They are also able to enjoy a positive Return on Investment, link business objectives to people strategies and improve on performance,” said Mr. Wainaina.
He also addressed the specific benefits that organisations will get to enjoy if they were to use HR analytics efficiently. Some of the benefits highlighted include a focused and efficient workforce, better enablement of key strategic initiatives, better decision making and ability to react to changes, better forecasting in terms of turnover, and a better understanding of key drivers such as salary and benefits.
Addressing the effective HR Metrics that organisations can use during recruitment, Mr. Wainaina advised professionals to consider the following; Average time per hire, Total Cost per hire, Percentage of recruits leaving in the first year, Average time in months until internal promotion and the Ratio of HR professionals to employees.
He concluded his keynote address by highlighting the biggest obstacles that organisations are facing when using HR metrics, with lack of analytics acumen among HR professions coming in second after inaccurate data.
The convention was held two days prior to the launch of a new survey by Corporate Staffing Services dubbed Job Outlook Survey 2017: Trends, Challenges & Future Outlook. You can read more about the new survey here.