Analysis of LMB hotel in HR metrics perspectives
The raising importance of human resource in organizational operation has increased the needs for contemporary HR to become a strategic partner as finance and marketing do (Lawler III, Levenson and Boudreau, 2003). Therefore, rather than just understand and introduce HR activities and practices, it is more vital for organization to test all aspects of them (in efficiency, effectiveness and impacts). Regarding to the LMB case, if LMB want to go through this difficult period, rather than only adopt HR practices, they should also conduct a comprehensive HR metrics system to facilitate the performance evaluation. This essay will firstly briefly introduce the HR metrics and discuss the importance of HR metrics theoretically. Then, it will identify problems LMB confronts with and propose policies to improve the LMB's approach to HR metrics. Before giving a conclusion, evaluation of the proposed solution will be presented.
Definition and Importance of HR metrics
HR metrics, according to Stone (2014), 'involves a systematic analysis and evaluation of the efficiency and effectiveness of the HRM function and its contribution to the achievement of the organization's strategic objective'. In a broader view, there are three types of HR metrics-efficiency, effectiveness and impacts-that companies could adopt to evaluate the impact of HR practices on business strategy and organizational performance (Boudreau and Ramstad, 2003). The efficiency metrics mainly aim at evaluating HR's basic administrative tasks, including productivity and cost metrics such as time to fill approved positions, HR headcount ratios and administrative cost per employee (Lawler III al et, 2003). As for the effectiveness metrics, they focus on evaluating the intended effects the HR practices imposed on employees, including measures such as how well the core capability embodied in employees or how well the core jobs are filled (Lawler III...