Most HR Benchmarks Are Garbage - Even Dangerous
Lacking context and appropriate controls for data quality, many benchmarks can lead to biased decisions or unobtainable standards.
Among the problems we see:
- Consultants create "rules of thumb" based on anecdotes and selected experiences rather than empirical results from a true sample
- Benchmarks may control for industry, but lack context around the size or structure of the company that typically drive HR operations
We're Building The HR Benchmarks We Wished We Had
As People leaders, we know what makes benchmarks useful and actionable. Our benchmark process is built around the following:
Methods That Drive Value
- Always in Context: Our data model identifies features of an organization and HR function that have an impact on functional structure, cost, and outcomes. A global company looks very different than one in a single country, and our benchmarks will understand that.
- Standardized Definitions: Our metrics will be based on standard definitions to eliminate errors of interpretation
- Machine-Learning Ready: As our dataset grows, we will deploy proven machine learning techniques to customize benchmarks to your organization based on "organizations like you."
Processes and Tools Built for Impact
- Managed Benchmarks: Short on resources? You can give us raw data, and we'll do the rest!
- Your Submissions Create a Dashboard: When you submit your metrics, we add them to your company dashboard to show your own history and how that history compares to benchmark. Save time by not building sepaarte charts to compare your data trends to market trends.
- Flexible Submissions: What's easiest for you is how you submit your data - Excel form, web tools, or secure transfer of automated extracts. Your choice.
Metrics That Matter
Our intial focus is on the following aspects of HR operations and the people experience
Talent Acquisition
Volumes, cost, cycle time, applicant flows by type of hire
Attrition
Voluntary and involuntary attrition by job type and employee demographic
HR Functional Cost
People, service, and technology spend by discipline
DEI
Talent acquisition, talent flow, attrition, and overall representation
Simple Pricing. Incentives to Help us Grow
Novo Value is priced as an annual subscription, including all benchmarks and new insights as the data matures. If you refer a contact to use who subscribes, your subscription length will be extended at no cost!
Help Us Build Better Benchmarks
We're just getting started, and we need thoughtful People leaders to further shape our direction and contribute data to the cause.