HR Dashboard is a tool which provides at-a-glance view of key performance indicators (KPIs) relevant to an HR objective or business process, designed to enable HR managers to easily monitor workforce metrics. We all know it is difficult to make informed decisions when HR lack insight into their own organization. Analytics platforms and HR software can inform managers about relevant developments in their teams and departments. An HR Dashboard is a business intelligence tool that allows Human Resource teams to track, analyse and report the whole business on HR KPIs, that helps leaders make decisions to create a better work environment and maximise employee productivity. IBM Cognos Analytics, Qlikview, Tableau, Power BI or Google Data Studio, are some of those business intelligence solutions that accelerate data prep, analysis, and reporting for business of all sizes.
Some of the most commonly used KPIs for HR processess
Employees are the most important asset within an organization. Interactive, persona-based HR Dashboards leverage an HR analytics platform that makes it easy to explore the data directly within the dashboard. HR teams quickly find insights that enables HR professionals to make data-driven decisions to improve, such as employee recruitment, satisfaction and retention rate. Thus, we’ll explore the data and metrics from our HR Management Software which could be analysed to build our own reports and create our own custom dashboards. You also can find them on the Qlik web page.
Performance Metrics and Workforce Management KPIs
- Absenteeism rate
- Succession planning rate
- Open/closed grievances
- Promotion rate
- Time to productivity
- Successor gap rate
- Worker composition by gender, experience, and tenure.
- Function type
- Internal mobility
- Manager quality index
- HR effectiveness
- Employee satisfaction rates
- Training cost
- Attrition rate by month.
Compensation and Cost of Labour KPIs:
- HR functional operating expense rate
- Labour cost per FTE
- Total benefits as percentage of labour costs
- Revenue per FTE
- Profit vs. compensation per FTE
- Human capital ROI
- HR functional cost per employee
- Age rate
Recruitment and Job Change KPIs:
- Quality of hire
- Vacancy rate
- Turnover rate
- Resignation/retirement rate
- New hires
- Diversity, experience, and gender hire ratio
- Talent import/export ratio
- Voluntary turnover rate
- Retention rate
- Recruiting expense per new hire
- Retirement rate forecast
The benefits of an HR Dashboard and an HR Management Software
In today’s disruptive and challenging business environment, the role of the manager has never been so important. Managers need to collaborate and pull together to respond as one organisation. Success depends on HR being able to analyse the data at their disposal. However, managers cannot be expected to work on this alone. Ensuring that managers use the data, metrics and KPIs to their advantage is key – establishing the time for tracking, analysing and reporting. An HR Management Software can help you build these reports. You can see your data from any source, such as OpenHR or OpenHR’s API, which equips you and your technology partners with a tool that allows effective sharing of data that your company already possesses. Your company will apply the knowledge you already have of these tools to all data stored in OpenHR.