CHAPEL HILL, N.C., Oct. 9 /PRNewswire/ -- Human Resources oversees an organization's biggest expense and most valuable asset: its staff. With HR involved in some of a company's biggest cost drivers, efficiencies in one area such as relocations or medical services can translate into significant savings.
To help executives and managers evaluate their HR function, Best Practices, LLC has published a comprehensive report containing more than 300 metrics across six key HR functions: Staffing, Benefits, Relocation, LOA, FMLA, Workers' Compensation and Medical Services. To download a complimentary summary of "HR Resourcing Excellence Series," go to http://www3.best-in- class.com/rr863.htm.
Some of the findings in the report include:
-- Staffing Costs: The cost per hire ranged from more than $30,000 in the
smallest company segment to $1,058 for the largest segment. The largest
companies are able to demonstrate economies of scale with lower costs
-- Domestic Relocation: The average temporary assignment costs $3,798.
Employee relocations and new hire relocations, however, cost about 60
percent less, ranging between $1,535 and $1,622.
-- Medical Services: Total internal and external staff costs for all
benchmarked medical services programs range from $59 to $274 per
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.
To view more metrics from this 350-page report, go to http://www3.best-in- class.com/rr863.htm. The rich seeding of metrics throughout this report provides HR executives with a close evaluation of service offerings, organizational structures, staffing levels, functional costs, activities outsourced/shared and effectiveness measures.
For an assessment of your organization's HR administration, staffing and resource utilization contact Mark Schoeman, Manager of Research Operations at Best Practices, LLC at (919) 767-9258 or firstname.lastname@example.org.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC, conducts work based on the simple yet profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies.
|SOURCE Best Practices, LLC|
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