Dashboards are Critical for Chief People Officers & HR Managers to Achieve Business Success
Now more than ever, it is important for companies to have an easy-to-access, easy-to-understand, single, real-time view of all of their HR data. Having this access allows CEOs to make accurate revenue projections and realistic budget decisions. It also helps administrators, hiring teams, recruiters, and managers make better on-the-ground decisions.
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Many companies are still stuck in the Human Resource processes of decades ago, with paper files filling filing cabinets, and HR staff buried up to their necks, with many of their hours being spent on rifling through paperwork and compiling reports from various applications like Excel, sometimes printing reports out for top management only to then try to make sense of them or discover calculation errors with the analytics charts. Sometimes, they simply hand those HR reports off and rely on executives to make that sense. Unfortunately, making sense of dozens of different and disparate data points can feel overwhelming, and a lot of critical data slips through the cracks. An HR dashboard will streamline and simplify this entire, decades-old headache and keep data, and people, from slipping anywhere.
HR Dashboards Contain a Unified View of Important Workforce Metrics
First, it is necessary to understand what an HR dashboard (also known as a people analytics dashboard) is. Most HR departments, at the behest of management, are tracking myriad different pieces of information about the people that make it up. For both employees and contractors, and seasonal employees and PT workers alike.
Important HR metrics include, but are not limited to:
- Cost of HR per employee
- Goal tracking
- Time to hire
- Time to productivity
- Voluntary turnover
- Promotion rate
- Span of control
- Salary range penetration
- Total compensation spend rate
- New Hire Turnover
- Training Completion Rate
- Healthcare usage by plan
- Time to fill
- Offer acceptance rate
- Employee satisfaction rate
- Retention rate
- Absence rate (Absenteeism)
- Overtime hours
- Revenue per employee
If that list seems extensive, that’s because it is! Recruiting, interviewing, hiring, training, employing, and even firing or losing people provides a company with a tremendous amount of information. Understanding that information and acting on it properly can help your business grow, succeed, and thrive. Misunderstanding it can lead to failure and ultimate destruction of a company and its work culture.
An HR Dashboard brings all of that data, everything on that list, and more, into a single view, just like the dashboard of your car. It can interface with multiple applications your HR department may be using and compile all the data from all those apps into one streamlined screen for you.
Importance and Benefits of HR Dashboards
Aside from the obvious convenience, why do you actually need an HR dashboard? Maybe you feel confident about the direction your company has been taking, and you don’t think an HR dashboard is necessary.
Relieve Your HR Team
An HR dashboard streamlines your HR processes and lightens the labor load on your HR team. This relief means you can better capitalize on your human capital. You can put your team to better use than reading and compiling paper reports for management meetings every week.
Your HR team is better used to working with your people, settling conflicts, and recruiting, interviewing, and hiring quality personnel. The less we can keep the HR department buried in data and paperwork, the better.
Help Define and Align with KPIs
Your Key Performance Indicators include things like the number of headcount, and the rates of turnover, promotion, and retention to maintain a strategic workforce. As CEO, top executive, or manager, your goal is to focus on the bottom line. You also want to drive sales and ensure excellent service or product delivery. In order to do that, you need to make sure your entire team is on board and is well-trained and equipped to be competitive in an increasingly digital workplace environment. How do you do that?
Communicate effectively with your team using an HR dashboard
When you understand, value, and develop your human capital through effective utilization of your HR Dashboard, you know each team member you have is playing to their strengths, and that you are helping them develop their weaknesses. Your KPIs will practically take care of themselves. Strategic visibility of the workforce will become the status quo.
HR Dashboards and Reporting to CEOs and Top Management
Once you implement an HR dashboard into your Human Resources department, your People Operations leaders can get a single, real-time view of all of your HR data. With an HR dashboard, such as a cloud-based HR dashboard solution, all of your HR data will transform into data stories, providing a full picture of what is at stake in your company.
HR Executives and HR Managers can then translate those stories for management and CEOs with effective data on hand, so management can make the necessary changes and shifts within the organization in order to meet KPI’s in real-time. Not after every quarterly report.
With an HR Dashboard software, top management can expect data collected into a single database for easy and accurate report creation. This translates into:
- Time saved, labor saved, and an easier work life through trusting effective automation to do many HR tasks.
- Beautiful charts and graphs for presentations using data visualization.
- A more effective HR department that feels valued and properly utilized for their purpose.
How to Create HR Dashboards
Use Excel or Business Intelligence Tools to Create Dashboards
So you’re ready to get started? You can create your own with Excel Spreadsheets, with Business Intelligence Tools like Tableau, PowerBI, or Google Data Studio. These typically are complicated, time consuming, and require deep technical experitse and knowledge to create and maintain accurate and fresh HR analytics reports.
Use an automated HR analytics and data visualization software solution
Next, you can explore an automated option with purpose-built HR dashboard software. With an HR Dashboard software solution, it will automatically pull HR metrics to create people analytics and integrate them using your existing HR information systems (HRIS'/HRMS') by an expert team of HR data consultants and analysts. Some of the most compelling and robust HR analytics and data visualization software create your HR dashboard for you.
This can save over 6 hours per week on average, increase visibility into workforce insights across the organization, and will ensure correct metrics are calculated (no more messing with formulas in Excel).
Example HR dashboard of an automated HR metrics & analytics dashboard:
Top cloud-based HR dashboard solutions to automate HR reporting
For automated HR analytics and data visualization software solution, we have summarized the top people analytics solutions by pricing (as-available) and value, as well as organization headcount size. The teams behind the people analytics solutions below have all worked with many organizations to bring their HR departments, and their business, into the future.
Best people analytics solutions for small to mid-size organizations
- Orgnostic: the most bang for your buck, they also happen to be free if you have up 250 employees in your organization for their 'Descriptive' people analytics solution (the simplest version). If you want more advanced features, they charge just $99 per month.
- Employee Cycle: this is great near-real-time HR dashboard solution if you're looking for the quickest, simplest solution and have up to 500 employees. They offer a free 14-day trial and it is totally free if you have up 49 employees in your organization. If you have 50-125 employees, they charge $432 per month and another $3.45 per employee per month (billed annually) if you have over 126 employees.
- ChartHop: initially started as an organizational chart software, ChartHop has expanded to provide a full suite of people analytics dashboard and visualization features. It is free for up to 150 employees, and then is either $8 or $12 per employee per month (billed annually).
- Knoetic: As pricing is not transparent, the best way forward is to get in touch or request a demo. Their pricing may infact be flexible based on your organization's headcount. A core differentiator is that they do offer a social network of 1K HR leaders baked into the solution, though it is unclear as to its tangible benefits.
Mid-size organizations and large enterprises people analytics solutions
- Qualtrics HR Analytics: quite possibly the most advanced and robust people analytics solutions due to the fact that Qualtrics is also a data broker with billions of data points about consumers. This solution helps you to best make sense of your data, and may also tie-in to their Employee Experience Management platform (akin to its sister product offering for customer experience management).
- PeopleInsight: pricing ranges from $24K-$40K/yr for under 500 employees, $28-$60K for companies with 50-2499 employees, $40K-$90K/yr for 2500-4999 employees, and $60K-120K/yr for over 5000 employees.
- Sisense HR Analytics: a people analytics software solutions. As pricing is not transparent, it is estimated to be atleast $20K/yr, so the best path forward is to get in touch for a demo.
- Visier: pay for the features you need. As pricing is not transparent, the best way forward is to get in touch or request a demo.
More about HR software pricing in general can be found here.
Transform your workforce with an automated HR insights solution
Effectively reshaping their HR reporting processes in ways that have allowed their business to thrive while management are equipped with greater insight into how employees reach new levels of satisfaction and productivity.
Automated HR Dashboard solutions supports a number of HR Platforms, including the most popular like Greenhouse, BambooHR, and Zenefits, among others ATS', HRIS'/HRMS', payroll, benefits, employee experience and engagement systems, and more.
The features of an HR dashboard software may include:
- Unlimited users
- Dashboard customization
- Email support
- Unlimited Integrations
- Real-time data
- HR metrics in one place
- Dashboard sharing