Coronavirus (COVID-19): Human Capital Metrics for Benchmarking the Pandemic's Impact
While the COVID-19 crisis has likely forced even the most strategic-minded HR professionals to operate in reactive mode, it is important to consider which human capital metrics are critical to measure during this unprecedented time. By expanding focus to include key measures relevant to the COVID-19 pandemic, HR professionals and their organizations will be able to leverage lessons learned for future crisis planning, as well as gain insights into the full impact of COVID-19 on the organization, its employees and other stakeholders.
Strategic HR Metrics
A strategic approach to HR requires, in part, basing business decisions on facts and results rather than instinct and activities. Strategic-minded HR professionals have long been in the habit of measuring and tracking key performance indicators (KPIs) as metrics relevant to human capital. These metrics are analyzed to identify results and drive business decisions. This data-driven approach to HR remains just as important in times of crisis, though what needs to be tracked (and how) certainly needs to expand.