The role of human resources (HR) extends far beyond traditional functions like recruitment and employee relations. Today’s HR professionals can influence organizational success through their evolving role in strategy and performance management.

HR has shifted from merely handling administrative tasks to leading workplace culture and engagement. A Forbes article highlights that the future of HR is defined by two main focus areas: enhancing the employee experience and driving innovation. Moreover, HR leaders are now integral to strategic business decisions, especially in addressing workplace trends, including artificial intelligence (AI) integration and addressing diversity, equity, and inclusion (DEI), and sustainability. 

HR can rely on key performance indicators (KPIs)  to ensure the effectiveness of their initiatives and processes. According to The KPI Institute’s State of Strategy Management Practice Global Report – 2023, organizations primarily use KPIs in two main areas: assessing employee performance and evaluating overall corporate performance. 

Integrating KPIs into employee evaluations helps set clear expectations, track progress, and provide feedback. Furthermore, using KPIs for corporate performance helps monitor progress toward strategic goals and drive organizational success. To guide HR leaders in selecting the most effective KPIs, The KPI Institute (TKI) has released the Top 25 Human Resources KPIs – 2024 Edition. This report series is designed to share TKI’s expertise in utilizing KPIs for performance measurement. Inside the report is a practical, step-by-step guide for improving performance, which highlights how KPIs can bring greater clarity, focus, and enhancement to any performance measurement process.

The 2024 edition of the Top 25 KPIs reports features a two-page KPI Documentation Form Template. The first page includes updated fields based on the latest research and analysis from TKI, and the second page provides essential guidance on KPI reporting. The 2024 edition features practical examples of KPI results and illustrative designs for scorecards and dashboards for each KPI featured in the report.

The Top 25 Human Resources KPIs consist of 17 functional areas with 61 main functions, including accounting, information technology, and supply chain, procurement, and distribution. It also compiles from 25 industries with 100 divisions such as transportation, government – state / federal, and healthcare. 

The KPIs in this report are distributed in six categories: Retention, Talent Development, Recruitment, Workforce, Absenteeism, and Compensation and Benefits. In this year’s report, % Employee turnover is highlighted as the leading KPI, which falls under Retention. It “measures the rate at which employees leave the organization in a given time period (e.g., month, quarter, year).” 

To gain deeper insights into the significance and function of % Employee turnover and to uncover the other top KPIs shaping the HR industry, explore the Top 25 Human Resources KPIs – 2024 Edition. The full report is now available for purchase in print on Amazon and for digital download from the TKI Marketplace.

With two decades of experience in advancing strategy and performance management, The KPI Institute remains dedicated to providing comprehensive performance solutions through meticulous research, educational programs, and advisory services. A strong testament to this commitment was the launch of the State of Strategy Management Practice Report in 2022. This annual publication compiles a thorough analysis of current trends, challenges, and innovations in strategy management. Moreover, it integrates data from various sources, including surveys of industry leaders, interviews with experts, and real-world case studies.

The State of Strategy Management Practice Report consists of three main sections: Strategy Planning, Strategy Measurement, and Strategy Execution. Each section includes segments such as general practices, strategy review, key performance indicators (KPI) deployment practices, strategy execution challenges, and project management practices. It also delivers guidance on best practices to refine strategy management and support organizations in adeptly handling emerging trends and disruptions.

The State of Strategy Management Practice Report aids organizations in adapting to a dynamic business environment. This report enables them to gain a comprehensive view of the field, recognize emerging trends and shifts, and refine their strategies for ongoing enhancement

Insights from the previous report

Last year, The KPI Institute released three versions of the State of Strategy Management Practice Report: Global Report and Middle East Report in Arabic and English. In the State of Strategy Management Practice – 2023 Middle East Report, results revealed that most surveyed professionals view strategy formulation as systematic and organized, with 47% employing specialized methodologies. Conversely, 38% reported using no particular methodology, suggesting a more flexible approach. Additionally, 15% indicated that their process is informal, which is noteworthy. While such an approach can offer flexibility, it is essential to acknowledge the potential risks and challenges of lacking a defined framework.

Additionally, in the Strategy Measurement section, 22% of respondents indicated that their organizations do not have a formal performance management system (PMS). The lack of a PMS presents various challenges. It hinders strategy execution and restricts the organization’s capacity to adapt to changes and seize opportunities. This issue is further reflected in the Strategy Execution section, where 57% of professionals admitted being aware of instances where their organization’s strategy had failed.

What’s new in the 2024 edition?

Considering the concerns identified in the previous State of Strategy Management Practice Report, it is essential to recognize that strategy management practices must evolve to meet organizational needs and adapt to the external environment. To assess whether improvements have been made and if organizations in the Middle East have advanced their strategy management practices, The KPI Institute conducted another research this year. With an expanded focus on the Middle East and North Africa (MENA), the findings will be presented in the State of Strategy Management Practices Report – 2024 MENA Region. 

The report includes data from more than 100 organizations and insights from leaders of leading companies. In addition to the three main sections and areas of interest, this edition has been further refined with a new section dedicated to advice from The KPI Institute’s group of experts on developing more effective organizational systems for strategy planning, measurement, and execution.

The State of Strategy Management Practices Report – 2024 MENA Region will be available in October. Sign up now for our newsletter and follow us on LinkedIn to be among the first to learn about its release and any other updates on our publications.