Top benefits metrics important to CEOs
May 18, 2015 3:55 PM
Top benefits metrics important to CEOs
When its time to report to the big boss, it almost always comes down to numbers and benefits managers are no different. Knowing what to bring to the table in discussions with the company executives can have a positive impact on future budgets and considerations for your department. The following metrics, from the Kandor Group, are some of the measurements most important to company executives.
Image credit: Fotolia
Image credit: Fotolia
Cost per hire
Calculated by adding total costs of internal recruitment costs with external recruitment costs in given time period, and dividing that number by the total number of hires made in the given time period.
Image credit: Fotolia
Image credit: Fotolia
Turnover rate
Calculated by identifying the total number of employees who separated from the company during a specific time period and dividing that number by the average number of employees employed by the company during the specific time period.
Image credit: Fotolia
Image credit: Fotolia
Retention rate
Calculated by dividing the total number of employees at the end of a time period by the total number of employees at the beginning of the time period.
Image credit: Fotolia
Image credit: Fotolia
Accident costs
Calculated by totaling workplace accident direct costs (e.g. compensation, medical injury and illness costs, damage to building, property, materials, and equipment and legal expenses) and adding that total number with indirect accident costs (e.g. accident investigation time, lost time wages, cost of temporary staffing, delays in production and increases in insurance premiums).
Image credit: Fotolia
Image credit: Fotolia
Compensation expense per employee
Calculated by adding total direct cash compensation expense with total indirect non-cash compensation expense for a given time period, and dividing that number by the total number of hours worked (Labor Hours) by all employees during the time period.
Image credit: Fotolia
Image credit: Fotolia
