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1、外文翻译-人力资本的新度量 本科毕业论文设计外 文 翻 译外文题目 The New Human-Capital Metrics 外文出处 CFO Magazine 外文作者 Craig Schneider 原文The New Human-Capital MetricsThe human-resources department is in survival mode As outsourcing the function becomes a more-prevalent option for companies HR managers know that if they are going t
2、o endure they have to deliver strategic value and that value has to be measurableWith that in mind many companies are forging ahead on efforts to create a new set of metrics that tie traditional HR functions like recruiting training and performance review to overall corporate goals including fatteni
3、ng the bottom line The old HR measures such as head count the cost of compensation and benefits time to fill and turnover no longer cut it in this new world of accountability They dont go far enough to create shareholder value and align people decisions with corporate objectivesThe effort requires p
4、utting some hard science around issues that have traditionally been thought of as difficult to quantify like why people leave the company or how engaged they are in their jobs When realized human-capital metrics can provide meaningful correlations that help predict behavior and human-capital investm
5、ent demands well ahead of the annual budget HR metrics might measure efficiency or the time and cost of activities human-capital metrics measure the effectiveness of such activities Time to fill becomes time to productivity turnover rate becomes turnover quality training costs become training return
6、 on investmentIf your goal is to increase your companys people productivity through the effective use of human-resources tools and strategies its time to change the DNA of human resources says John Sullivan professor of management at San Francisco State University Its time to change human resources
7、so that it focuses on top performers and ensures that it spends most of its time and budget on high-ROI activities After all he adds the only soft area left in a company is the largest expense item peopleWhile the mandate to measure has been around for some time a Conference Board survey indicates t
8、hat most companies arent there yet Of the 104 human-resources executives at medium- to large-size companies surveyed only 12 percent make use of people measures to meet their strategic targets or key performance indicators KPIs But the message is loud and clear over the next three years 84 percent o
9、f that same group expect to increase the application of HC measuresIt wont be easy Mastering human-capital metrics is a complex undertaking Linking people measures to KPIs in a reliable way can require massive amounts of data and most efforts are technology-heavy They require a good bit of trial and
10、 error and a heavy dose of patience And more often than not a human-capital metrics initiative requires a good partnership between HR and finance According to the Conference Board survey collaborating with colleagues from finance was ranked the best way to build support for people measures with 54 p
11、ercent of respondents indicating that such a partnership is vitalThe Labor Supply ChainOvercoming these hurdles could require looking at traditional HR functions through a new lens San Antoniobased Valero Energy Corp for instance is forging a new recruitment model out of human-capital metrics based
12、on applying the supply-chain business process to labor Dan Hilbert manager of employment services at the 70 billion energy-refining and marketing company came up with the concept two years ago in an attempt to take the guesswork out of the recruiting function We wanted to have the right people in th
13、e right amount in the right place at the right time with the right skills says Hilbert While he admits thats a tall order the change in perspective opened the door to new possibilities Once you run talent acquisition as a supply chain it allows you to use certain metrics that you couldnt use in a st
14、affing function he says We measure every single source of labor by speed cost and efficiencyTraditionally managers at the 20000-employee company would contact HR and request the number of people they needed and the department would call recruiters and kick in the employee-referral program And then y
15、ou prayed a lot Hilbert says By examining aggregate data on where people are hired from how long they stay employed how they fit in the corporate culture and their level of individual productivity weve taken an art and weve made it a science he says Using that data Hilbert is able to figure out wher
16、e the company can recruit the best talent at the most affordable priceValero can now determine for a specific project whether its best not just financially but also from a strategic perspective to recruit full-time part-time or contract workers or to outsource the work entirely Valero also keeps sco
17、recards of which labor sources provide it with its most productive employees and tracks it over the year An upgrade to the companys HR Smart talent management software this year will also give the company a global labor supply chain on demand Hilbert saysThe supply-chain approach to labor and detail
18、ed analysis of metrics also allow Valero to accurately forecast three years in advance its demand for talent by division and title To accomplish this feat the company dumped five years of historical people records into a huge database file then consulted with Houston-based software vendor HLS Techno
19、logies to develop a series of mathematical algorithms for turnover trend analysis by location position type salary tenure and divisionThose trends were projected forward through another series of algorithms at which time Hilbert added numbers for the anticipated workforce for future capital projects
20、 new systems and services For the first time talent pipelines can now be developed years in advance to meet specific future talent needs he says Training programs and succession plans can also be developed in advance Its pretty revolutionary stuff Hilbert addsTalent ScoutCoreStar Financial Group a m
21、ortgage banking company with 190 employees based in Timonium Maryland wasnt worried about its future talent needs but it did want to improve the skills of the workers it already had So CFO Tom Monteleone addressed a productivity problem with his sales-intensive employee base using metrics to help gu
22、ide the decision-making processMonteleone collected data on the productivity of each customer-facing employee and crossed it with the pull-through rate an industry KPI that measures how many customers who start the buying process actually complete it He found that some workers were doing far better
23、than others with their individual pull-through rates Monteleone weighed several potential solutions including changes to incentives hiring and training practicesHe worked closely with CoreStars vice president of retail sales Kevin Ferguson to gather data and simulate outcomes to determine which fixe
24、s would have the best business impact Its about capturing as much data as you can and organizing it so it makes sense he says Something is going to stick and youre going to understand a new metric One option they considered replacing the poor performers was determined to be a dead end Monteleone cal
25、culated that the company would lose about four weeks of productivity per person trying to replace a subpar performer and bring a new hire up to speedIn the end CoreStar opted to invest in new IT infrastructure around call-flow management that not only monitors the pull-through rate better but also b
26、etter disperses the calls so that high performers field more promising calls and managers have more time to work with subpar employees to raise their performance level As a result of the investment Monteleone found that the sales team could take on more call volume at a lower cost to the company We
27、were able to increase sales year over year by about 45 percent but we only had to increase our sales force by 10 percent he saysThe shift from HR metrics to human-capital metrics owes much of its anticipated momentum to technology advances Companies are increasingly relying on databases to gather an
28、d organize volumes of information about employees throughout their job life cycles Online tools allow for prescreening and testing for competency and behavioral targets set by the company Decision-makers use dashboards to select specific metrics from the database for analysisTrial And ErrorThey also
29、 rely on some good old-fashioned experimentation Mike Bokina a senior consultant for Saratoga a PricewaterhouseCoopers Human Resource Service offering says companies need to closely track the results of decisions in order to develop solid metrics in the future Though the original decisions might be
30、based on business realities or even hunches measuring the outcomes and readjusting as you go along can lead to correlations between human-capital decisions and strategic results and metrics to track those correlations If I push my training budget does that have an impact on revenue per employee he a
31、sks If 1 pay people less are they as satisfied or committedSysco Corp a 32 billion wholesale food distributor based in Houston found that its compensation system for driverspaying them by hours workeddidnt provide as much value to the organization as it could The model didnt necessarily provide bett
32、er customer satisfaction or profitability says Ken Carrig executive vice president of administration and head of HR Instead Sysco changed to a reward structure it calls activity-based compensation Drivers earn a base pay thats supplemented with incentives for more deliveries fewer mistakes and good
33、safety recordsTo be on the safe side Sysco didnt roll out the program nationwide It tested it in certain pilot markets first and then tracked the results of the operating company Four metrics were targeted satisfaction level retention efficiency delivering more cases in less time and delivery expens
34、e Under the new compensation structure Sysco found that drivers were not only more efficient they were also more satisfied The companys retention rates for drivers improved by 8 percent and expenses as a percent of sales went down After quantifiable results showed the benefit of the change Sysco rol
35、led out the program nationwideWith 161 subsidiary companies Sysco was also frustrated by the gap in HR performance at the operational entities The executive team constructed a scorecard of a handful of metrics in customer operational financial and human-capital areas and then aggregated the data to
36、show how subsidiaries were performing better in each measure From there Sysco developed a best-practices portal on the company intranet to share the results and build a healthy competitiveness If we had trouble with driver retention or shrink of inventory managers would benchmark their results inter
37、nally says Carrig As a result of implementing these practices whether in human capital or elsewhere a number of Syscos companies moved from the lower 25 percentile to the upper 25 percentileCarrig credits the support of the entire management team especially finance for making these changes possible
38、The controller team reassesses key metrics at least on a quarterly basis narrowing a list of hundreds of different types of performance measures down to 25 or 30 and then to an executive dashboard of five to seven goals At the meetings senior management determines from the results whether the compan
39、y is measuring the right ones and what levers we need to pull says Carrig Our CFO John Stubblefield values human capital and recognizes the need to quantify the work performed by our people If I were the only one who thought it was important it wouldnt get very farSysco is also piloting some new war
40、ehouse training techniques for new hires in 11 of its subsidiaries in the hope of accelerating their performance and tracking results over the next year If we dont see performance Carrig says well call it a bad idea Our metrics process is an ongoing evolutionBuilding up talent is also a priority for
41、 similarly named Cisco Systems Inc the San Jose California-based networking and communications giant Karen Horn Ciscos senior director of employee commitment says the company recently added a metric that tracks why a person moved within the company to a dashboard of people measures that includes rev
42、enue per employee Through that measurement executives can spot which divisions in the company are creating new talent Its the difference between just noting how many people moved and nothing why The why is where the value is she saysCompanies are increasingly measuring movement as a metric High perf
43、ormers tend to want to take on new challenges and businesses like to promote their best and brightest through the ranks Tracking movement inside the company is also a way to make sure managers serve as talent launching pads rather than hoarders Once identified they can reward those managers accordin
44、gly The key is to find out which positions we need these superstars in San Francisco State Universitys Sullivan saysThe Human FactorIdentifying top performers isnt easy and using metrics to do so can miss some of the intangible factors that make people excel Even finance chiefs acknowledge that ther
45、es an inherent challenge with putting metrics around people Our human capital is one of the most important assets the company has but its also one of the least predictable says CoreStars Monteleone Everyone has their own personality skills and abilitiesCritics of human-capital metrics contend that p
46、eople often defy metrics and that humans are too complex to analyze with reams of data and computer programs Is it dehumanizing for example to apply a supply-chain model to recruitingBut not everyone agrees that human-capital metrics have a downside Sullivan believes that anything can be quantified
47、but that fear motivates many to resist People in HR are resistant to measurement because they are afraid that theyll get an F theyll get a zero he adds If youre a top performer you love measurementAnother drawback is that identifying which human-capital metrics are meaningful can be hit or miss For
48、this reason alone its not surprising that managers are hesitant to put too much time and energy into a program in which results may be few and far between Its the 8020 rule Monteleone explains Twenty percent of the metrics will drive 80 percent of the businessMany companies struggle with just getting started let alone keeping a program going for years on end Jim Del Rosario vice president of talent acquisition at Veritude an HR services company in Boston says it doesnt take a massive effort to get started on improving human-capital metrics You dont
