An HR department could run to maximum efficiency with engaged employees, an ideal rate of employee turnover, and perfect budgetary conditions but without the ability to track and analyze this amazing process, you would never realize it.
That’s why utilizing a tool like an HR dashboard is absolutely essential, it acts as a sextant with which you navigate the tumultuous business environment to ensure your department reaches its destination.
So let’s take a look at what exactly an HR dashboard is, why every team working in human resources requires one, what key metrics you need to follow and how you can maximize its use. You’ll realize that a good HR dashboard is simple to use and can make a profound difference at your company.
An HR dashboard is a tool that human resources professionals use to visualize all aspects of their department’s operations to track, process, analyze and create reports. It ensures that a large amount of complex data can be transformed into easily consumed information that one’s team members can understand and act on immediately.
An HR dashboard will generally display information based on different factors ranked by their relative importance to the team. This data is usually displayed via percentages, charts, graphs, and short bullet point lists.
With all the key information about your HR team displayed in one location, it’s easy for your colleagues to communicate about their challenges and projects. This provides them with a greater awareness of the tactical and strategic goals of your company.
An HR dashboard can display all of your company's key KPIs and OKRs in one place, as well as the information that may be required to achieve these targets. This ensures the team is better able to achieve its goals.
Without an HR dashboard, your team would likely have to monitor all the information it displays manually, which would take up a considerable amount of their working hours. By using this tool you can automate these processes and ensure your team focuses on more important tasks.
There are a number of different KPIs, metrics, factors etc that can be included in an HR dashboard, and each team needs to make its own decision about which to feature. Some of the most commonly used are;
The absenteeism rate
Total current number of employees worldwide
Total payroll salary
Key KPI and OKRs
Employee turnover rate
Current employee satisfaction and engagement rates
Ethnic and gender diversity ratios
Part-time and full-time employee ratios
Office, hybrid, and remote worker ratios
Current number of employees enrolled in training
Current number of employees enrolled in education
Offer acceptance rates
Current number of interviews and candidates
Current vacancies ranked by order of urgency
HR dashboards can be customized according to the specific needs of each company however s of the most common template designs include the following; Employee performance, employee development, and employee budgeting.
This is designed to track the individual performances of your employees while also providing a broader perspective of how your team functions. It will include metrics like engagement, absenteeism, etc, as well as average overtime rates, employee ratings, and total time spent in office.
This tool monitors how your employees are improving their personal as well as collective development, whether that be through additional training, educational programs, etc. This format focuses on information about the total number of employers (and percentage) of team members on development programs, as well as total costs involved, and geographical location.
Budgetary concerns aren’t the preserve of the finance department alone, HR teams need to monitor the various costs associated with the employment of their colleagues. A dashboard focused on this issue will likely include employee payroll as a percentage of the total budget, individual salaries, differing hourly rates, and total amount spent on hiring.
If you want to invest in a high-quality HR dashboard for your company then make sure you get in touch with the PeopleForce team and one of our expert team members will be able to assist you. All you need to do is get in touch via our contact form. We offer a wide range of interconnected modules designed to make your HR operations as seamless as possible, so let us know how we can help.