Navigation Links
Using HR Performance Metrics to Drive Costs Down Across HR Functions
Date:4/15/2008

CHAPEL HILL, N.C., April 15 /PRNewswire/ -- With companies across all industries facing a year of belt-tightening, organizations are seeking savings from the largest part of their budget - Human Resources. The dilemma: How to trim costs across the myriad HR functions and yet retain high service quality for the company's most valuable asset: its work force.

To help executives and managers in pharma and other sectors evaluate their key HR functions, benchmarking leader Best Practices, LLC has published a comprehensive report that delivers more than 300 metrics across six key functions: Staffing, Benefits, Relocation, LOA/FMLA, Workers Compensation and Medical Services.

To review a complimentary excerpt and sample metrics of "HR Resourcing Excellence Series," go to http://www3.best-in-class.com/rr927.htm .

Some of the findings of the 350-page 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

per hire.

-- 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: Benchmarked companies spend an average of $126 for

medical services administration per employee supported.

Data was collected from surveys and interviews with HR professionals at 78 companies including: Abbott Labs, ALCOA, American Express, AT&T, Bank of America, Boeing, Bristol-Myers Squibb, Caterpillar, Cisco Systems, Convergys, 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 report, go to http://www3.best-in-class.com/rr927.htm .

The wealth of metrics across key HR function areas provides HR executives with a detailed evaluation of service offerings, organizational structures, staffing levels, functional costs, activities outsourced/shared and effectiveness measures.

For questions or additional information on this report and other Best Practices, LLC products and services, please call Cameron Tew at 919-767-9246 or email ctew@best-in-class.com.

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
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Blocking the effect of inflammation-causing cells lowered prostate cancer cells invasion
2. Two Million People Using Kaiser Permanentes Personal Health Record
3. SurgiQuest Announces First Procedure Using AirSeal(TM) Access System
4. SNAPforSeniors Now Helps BenefitsCheckUp Users Locate Housing Options
5. Stroke Patients Re-Learn to Walk Correctly Again Using Special Treadmill
6. Significant reductions in mortality shown using blood pressure-lowering treatment in very elderly
7. Stanford University School of Medicine to Address Improving Network Security and Management at EDUCAUSE Western Regional Conference 2008 Using Lancopes StealthWatch System for Network Behavior Analysis
8. MTM Study Reports Improved Quality and Economic Outcomes Using Medication Management Systems Assurance Pharmaceutical Care System(TM)
9. Springer to publish new journal focusing on ethical issues in neuroscience
10. Fallout From Atomic Bombs Still Causing Health Problems
11. Housing Opportunity Fund Could Hold Promise for Affordable Assisted Living
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... QUEENS, N.Y (PRWEB) , ... October 13, 2017 , ... ... recently became a member of ElderCounsel, a national organization of elder law and special ... constantly changing laws and rules. It also provides a forum to network with elder ...
(Date:10/13/2017)... ... October 13, 2017 , ... Many families have long-term insurance ... care insurance companies have a waiver for care if the client has a cognitive ... the family pays for care, is often waived, so the benefits from their insurance ...
(Date:10/13/2017)... , ... October 13, 2017 , ... Ellevate Network, the ... business to advocate for action towards gender equality at their inaugural Summit in New ... the globe, and reached a social audience of over 3 million. To watch the ...
(Date:10/13/2017)... ... 13, 2017 , ... Yisrayl Hawkins, Pastor and Overseer at The House of ... popular and least understood books in the Holy Scriptures, Revelation. The Book of Revelation ... scholars for centuries. Many have tossed it off as mere rubbish, but Yisrayl Hawkins ...
(Date:10/13/2017)... ... 2017 , ... Coveros, a leader in agile coaching services ... by the Center for Medicare and Medicaid Services (CMS). The Enterprise Agile Transformation ... Agile methodologies in a consistent and high value manner across CMS programs. Coveros ...
Breaking Medicine News(10 mins):
(Date:10/12/2017)... SAN DIEGO , Oct. 12, 2017 ... has recognized the company with their  2017 New Product Innovation ... is based on extensive primary and secondary medical device market ... AVACEN Medical, through its first-to-market OTC, drug-free pain relief product, ... a unique approach to treating fibromyalgia widespread pain. ...
(Date:10/11/2017)... 11, 2017  Caris Life Sciences ® , a ... promise of precision medicine, today announced that St. Jude ... Oncology Alliance™ (POA) as its 17 th member. ... Jude Crosson Cancer Institute will help develop standards of ... tumor profiling, making cancer treatment more precise and effective. ...
(Date:10/10/2017)... , Oct. 10, 2017   West Pharmaceutical ... innovative solutions for injectable drug administration, today shared the ... ID Adapter for improving the intradermal administration of polio ... Skin Vaccination Summit in May 2017 by Dr. ... Polio Department, World Health Organization (WHO), and recently published ...
Breaking Medicine Technology: