HR KPIs to Prioritize for Success in 2024

Author: Robert S. Teachout

Introduction

The importance of human resources leaders' role is increasing as organizations continue to navigate rapid and sometimes disruptive changes in the world of work. Where and when employees work, who they choose to work for and what they expect from employers to support their work, well-being and employee experience has and continues to evolve. HR professionals' skills in communicating, managing change and sharing people analytics have made them essential to organizations' ability to adapt and achieve their strategic goals. In fact, 93% of CHROs in a 2022 survey agree that the impact of the HR team on business results is just as important as that of the finance team.

"What gets measured gets managed" is a saying often used when discussing goals and objectives for employees, but it is equally important when setting key performance indicators (KPIs) for HR. Setting attainable and measurable KPIs focused on the most critical performance areas identified as 2024 strategic goals can help to strengthen organizations by aligning HR's efforts with the overall business strategy and top priorities. This enables HR to provide concrete data to organization leaders on the success of its people strategy, as well as actionable information to alert them when adjustment or changes are needed to keep the organization on track to achieve its goals.