Reed Consulting Launches Benchmarking Website to Address People Reporting Needs

Reed Consulting, a provider of HR consultancy and outsourced services, launches a new benchmarking website to enable HR professionals to compare their people metrics on 2nd November 2006.

The new website, HR Benchmark, to be unveiled at The 2006 Financial Directorsí Forum, provides tools to support and guide organisations seeking to comply with the reporting requirements outlined in the Companies Bill which is expected to come into effect in December this year. It also allows organisations to carry out sector comparisons, to benchmark their people management and to help them improve their people and business performance.

ìThe Companies Bill provides an opportunity for HR Directors to work more closely with Finance Directors on improving company performance and reporting. The website gives HR Directors and Finance Directors a common platform to compare the extent to which improvements in people metrics actually impact upon the bottom line performance of the company,î says Laura Frith, managing director of Reed Consulting.

ìThe Companies Bill requirements are likely to create greater transparency about people management within organisations. This is likely to provide an impetus for people management to improve, which can only be a good thing both for HR, senior managers, employees and investors or stakeholders,î adds Frith.

ìMost organisations in the UK pay out over 50% of their overall spend on employee costs such as salary, training and benefits. HR can now partner with Finance to lead the way in demonstrating how investments in people deliver tangible returns on the bottom line,î Frith concludes.

The website enables HR professionals to measure and benchmark HR performance in five key areas including workforce composition, retention and motivation, skills and training, reward and fairness and leadership and succession.