Launch of the HR Outlook and Benchmarking Survey & MOU Signing by KPMG, CIHRM, and other partners

The Chartered Institute of Human Resource Management Ghana (CIHRM Ghana), KPMG, MData, and the HR Network signed a Memorandum of Understanding (MoU) and launched an institutional collaborative research project dubbed HR Outlook and Benchmarking Survey with over 50 participants representing the HR profession as well as media and members of each key partner in attendance. 

This ground breaking partnership brings together the four leading organizations in a collective effort to gain valuable insights into the current state of human resource management practices and trends in Ghana and to benchmark same against global standards within the Ghanaian context.

The MoU signing and formal launch ceremony, which took place on 3rd July 2023, marks a significant milestone in fostering collaboration among industry-leading organizations to support the advancement of HR practices in the country. This collaboration harnesses the expertise and resources of each organization to conduct a comprehensive survey, with a focus on HR outlook and benchmarking across various sectors and industries.

The HR Outlook and Benchmarking Survey, a novelty initiative, is a comprehensive study that will delve deep into the HR landscape in Ghana, to provide relevant industry-level metrics to the body of Human Resource Practitioners in Ghana in line with internationally recognized best practices for firms in Ghana to benchmark and track people processes in their organisations.

This research endeavour seeks to explore aspects of human resource management, covering critical HR metrics including Time to Fill, Source of hire, Cost per hire (CPH), Management to Employee Ratio, Human Capital Return on Investment, Employee turnover rate (ETR), Absenteeism rate among others.

Human resource metrics are like an essential pair of glasses—without them, workplace data is visible but unintelligible. However, with the right lenses, patterns, trends, and discrepancies come into focus and organizations can approach decision-making processes with a clearer picture of reality. Whatever the case, a data-driven approach through HR metrics beats speculation.

The collaborative research project will be conducted over a period of six (6) months. During this period, the participating organizations will work closely to design the survey questionnaire, collect, and analyze the data, and generate actionable insights. 

The findings from the survey will be analyzed and compiled into a comprehensive report, and shared with participating organizations, industry stakeholders, and the wider HR community, fostering knowledge exchange and driving positive change within Ghana's HR landscape. 

Through this collaboration, CIHRM Ghana, KPMG, MData, and HR the Network are committed to promoting excellence in HR practices, enhancing organizational effectiveness, and driving positive change in the HR profession. The survey results will enable organizations to benchmark their HR strategies and practices, identify areas for improvement, and gain a competitive edge in talent management.

We invite organizations from all sectors and industries in Ghana to participate in the HR Outlook and Benchmarking Survey. Your valuable input will contribute to a comprehensive understanding of the HR landscape and foster the development of best practices in the country. Participation details will be shared in due course.

For further information and media inquiries, please contact: Emmaline Datey [Head, Brands & Communication] - [027-3800636]

About Chartered Institute of Human Resource Management, Ghana (CIHRM Ghana): The Chartered Institute of Human Resource Management, Ghana, an HR Industry Regulator responsible for the regulation and practice of human resource management in Ghana, is a leading autonomous Professional Institute or Body of Human Resource Practitioners who work in both the public and private sectors of Ghana.

About KPMG: KPMG is a global network of professional firms providing audit, tax, and advisory services. With a presence in over 150 countries, KPMG is committed to helping clients navigate the challenges of an ever-changing business landscape and driving sustainable growth.

About MData: MData is a leading data analytics company specializing in delivering actionable insights to drive informed decision-making. With a team of experts in data analytics and machine learning, MData empowers organizations to leverage data as a strategic asset.

About HR Network: HR Network is a vibrant community of HR professionals, fostering knowledge sharing, collaboration, and networking opportunities. The network serves as a platform for HR Practitioners to exchange ideas, best practices, and experiences, contributing to the growth and development of the HR profession.