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The metric calculation guide is a template that lists the details for each metric to be computed in an HR or related system, database, or spreadsheet and describes the precise method to calculate its value. The form is used to consistently communicate the elements and calculation method to be employed when processing a multiple variable metric for the benefit of the IT professionals and users who will be leveraging the data. It assures that the data processed in the spreadsheet or system is consistent so that reports run from the data have minimal errors and unusable data. It gives specific direction to the IT team regarding how to set up the database and which data elements to use when running calculations off raw (or component) data entered by users.
HR metric and reporting experts are assembled for a group discussion of each metric in order to agree on how each metric will be specifically calculated and clarify the data fields/elements to be leveraged along with the calculation method. Those are then entered into this tool in a mixed arithmetic and English language formula that is easy to understand. For example, “(Total recruiting budget expenditures for a given time period) / (the number of new hires who started during the same time frame).