Metrics to drive future success

Flora Chan, Head of Human Resources, United Overseas Bank Hong Kong

Flora Chan, Head of Human Resources, United Overseas Bank (UOB) shared her insights on leveraging HR metrics to drive future business success. With over 20 years of HR management experience, Chan has used various strategies to drive business growth. Chan asserted, “One of the happiest points in my career is working for UOB because one of my core functions is driving the strategy of the organisation.”

What are HR metrics and how are they implemented? Chan explained how she utilises them at UOB—Analytics, Diagnostics, Strategy and Prediction—in areas including hiring, compensation and training.

• Analytics—the interpretation of a meaningful pattern in data to measure retention and performance
• Diagnostics—monitoring performance and analysing work completed, as well as the total employee cost
• Strategic—linking data together to give a meaningful report. For example, looking at retaining certain types of people for future projects
• Predictive—making use of past data to drive future policy and develop a more expected outcome.

Chan elaborated that at UOB data is needed for making strategic HR decisions. She remarked, “Generally, over 50% of operating costs go to HR and with a shrinking budget, HR needs to look at what solutions are linked to business performance and the impact on profitability.” This is especially important in areas like talent acquisition where data is analysed before deciding whether hiring is in line with company’s business plan. She added, “I would also use the data to see where those candidates are coming from and to gauge the response rate and quality.”

HR needs to look at what solutions are linked to business performance and the impact on profitability.

—Flora Chan, Head of Human Resources, United Overseas Bank Hong Kong

Following the hiring process, Flora briefly explained training methods at UOB, “We adopt the model of 70-20-10. 70% on the job training, 20% coaching and mentoring and 10% formal education. We use this model as a guideline to structure the training and career development of our people.”