Why a Unified HR Dashboard Is Critical to Human Resources (and 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. At Employee Cycle, they refer to this single view access as an HR Dashboard or a People Analytics Dashboard.
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.
- What Are HR Dashboards
First, it is necessary to understand what an HR dashboard is. Most HR departments, at the behest of their companies, are tracking myriad different pieces of information about the people that make it up. These pieces of information include, but are not limited to:
Cost of HR per employee
Time to hire
Time to productivity
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
Absence rate (Absenteeism)
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.
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 KPI’s
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 the cloud-based HR solution from Employee Cycle, all of your HR data will transform into data stories, providing a full picture of what is at stake in your company.
HR Execs 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 like Employee Cycle, CEOs and Top Management can expect:
- Data collected into a single database for easy and accurate report creation
- Time saved, labor saved, and an easier work life through trusting effective automation to do many HR tasks
- Beautiful charts and graphs for presentations
- A more effective HR department that feels valued and properly utilized for their purpose
- How to Create HR Dashboards
So you’re ready to get started? With Employee Cycle, your HR dashboard will be built into your existing system by our expert team of consultants. Our compelling and robust HR analytics and data visualization software creates your HR dashboard for you.
Here’s an HR dashboard example:
They have worked with dozens of companies to bring their HR departments, and their business, into the future, effectively reshaping their staffing and retention processes in ways that have allowed their business to thrive while their employees reach new levels of satisfaction and productivity.
Employee Cycle supports a number of HR Platforms, including the most popular like Greenhouse, BambooHR, and Zenefits, among others.
The features of an Employee Cycle HR dashboard include:
Pre-built API connections to HR systems (Applicant Tracking Systems, Human Resource Management/Information Systems, Employee Engagement Platforms, etc)
HR metrics in one place
Contact Employee Cycle Today
Employee Cycle is a company founded on people. They understand that people are at the heart of everything they do, and that successful businesses are only successful in the long term because of the people who run them. All of the people. Great use of properly organized and understood HR analytics and data can lead to a well-rounded, valued team eager to make your company the best it can be for years to come.
This is our mission, to help your company be the best it can be through real-time data and feedback.
Become a smarter, data-driven HR leader today with Employee Cycle.
Contact them for a free demo, and you will see there is literally no downside to integrating this software, and our team, into your company.
Schedule a live demo. They’re here to help you take a test drive of the robust HR analytics dashboard solution.