CHAPEL HILL, N.C., Sept. 7 /PRNewswire/ -- Human Resources continues to be a big cost center, one of the functions business leaders look at first for cost reductions and productivity improvements.
So how can HR groups operate more effectively and efficiently?
A comprehensive HR metrics study by benchmarking leader Best Practices, LLC has the answers. The study provides one common set of performance metrics for your key HR functions: Staffing, Benefits, Relocation, LOA, FMLA, Workers' Compensation and Medical Services.
For example, where do companies spend most of their HR cost? According to the study, the vast majority of costs were spent on internal labor -- ranging from 55% to 82%. Outsourcing costs are the second highest at between 13 and 31% of all staffing costs. Interestingly, the largest companies in the benchmark had the most substantial investment in systems, at 32% of the total cost.
For more metrics download the 55-page report summary at: http://www3.best-in-class.com/rr852.htm
The new "HR Resourcing Excellence Series" focuses on service offerings, organizational structures, staffing levels, functional costs, activities outsourced or shared, cycle times, and effectiveness measures (e.g., end-user satisfaction) for key HR functions.
Data was collected from surveys and interviews with HR professionals at companies including: Abbott Labs, ALCOA, American Express, AT&T, Bank of America, Boeing, Bristol-Myers Squibb, Caterpillar, Cisco Systems, Convergys, DaimlerChrysler, Dell, Dow Chemical, DuPont, Fujifilm, General Electric, General Motors, Intel, Kraft Foods, Microsoft, Motorola, Pfizer, Texas Instruments, Toyota and more.
The report examines the "core" HR processes including:
-- Organizational Staffing -- metrics by type of hire and by process such
as applicant tracking, recruiting, sourcing, requisition management,
|SOURCE Best Practices, LLC|
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