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What your monthly HR Operations Dashboard should include

What your monthly HR Operations Dashboard should include?

While gut instinct and experience might help you make a decision, they shouldn’t be your only source of Information.

In HR, you must make better, more educated decisions by utilising your data. To do so, you’ll need to gather and organise data so that it allows you to develop actionable insight that you can use to enhance your processes and methods.

What is a human resources dashboard, and how does it work?

An HR dashboard shows you a visual representation of the various HR indicators you’re measuring.

It provides insight on performance at several levels, including individual, team, and HR tasks such as performance management, recruitment, and attendance management.

HR professionals can use the dashboard to:

  • Plan out your budgets plus initiatives for the coming year or quarter.
  • Create best practices and processes.
  • Recognise your strengths and shortcomings and adjust your strategy accordingly.
  • Make it easier for senior management to receive reports.

What Information Should be included in an HR Analytics Dashboard?

KPIs for the HR Dashboard: The correct set of key performance indicators (KPIs) enables you to monitor and analyse your workforce more quickly and efficiently.

The metrics you should evaluate for three primary areas: workforce management, remuneration, and recruitment, are provided below to assist you to begin your HR analytics dashboards.

Workforce Management KPIsCompensation KPIsRecruitment KPIs
Rate of AbsenteeismOperating expense rate of HR functionsHire quality
Outsourcing ROILabor cost for each FTERate of vacancy
Rate of succession planningPercentage of labor cost revenueTurnover rate
Open or closed grievancesPercentage of expense of labor cost revenueRetirement or resignation rate
Rate of promotionTotal benefits as labor costs percentRate of external hire
Productivity timeRevenue for each FTEFilling time
Rate of successor gapProfit and compensation for each FTERatio of experience, diversity, as well as gender hire
Worker composition by experience, tenure, and genderROI of Human capitalMetrics of recruiting funnel
Internal mobilityHR functional cost for each employeeRation of talent import and export
Index of manager quality Rate of voluntary turnover
Effectiveness of HR Rate of retention
Rates of employee satisfaction Recruiting expense for each of the new hire
ROI of Training Forecast of recruiting rate

An HR Dashboard’s Key Features

The greatest HR dashboards do more than just track KPIs and visualise data. As you look for the ideal HR dashboard tool for you, keep the following features in mind:

  • It’s completely interactive: To examine and analyse data, use advanced data analytics immediately on the dashboard.
  • All data sources are included: Data from HCM, compliance, payroll, recruiting, learning, LOB, and other people analytics systems and apps may be easily combined and analysed.
  • Analytics with a twist (AI): Modern dashboards are now highly contextualised with AI and alerts, making them one of the top 10 BI and data developments this year. They’re also growing more collaborative, evolving into a central repository for insights and scattered data.
  • Alerts and automatically generated reporting: Set up your HR dashboard to send you alerts based on KPIs and automatically share them with essential stakeholders regularly.
  • Designed with mobile in mind: Access your dashboards from any device with complete interactive cloud analytics features and touchscreen optimisation.
  • Simple Data Preparation: You can spend a little less time processing data and more effort identifying ways to improve staffing, development, remuneration, health and safety, and employee and labour relations with an interactive HR dashboard that’s part of this new people analytics platform.

Conclusion

Businesses are increasingly using data-driven performance management to manage all aspects of their operations, so the sooner you develop a human resources dashboard, the better.

The dashboard will get more accurate the more you use it and the more data you supply it. You’ll be able to make better-informed decisions faster, resulting in improved performance. You can speed up the process, get more sophisticated visualisation, and track more indicators if you use human resources software to automate the creation of an HR dashboard.