Real-time dashboards: Actionable data insight for Chief People Officers and Human Resource Managers

­­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.

  1. 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:

Headcount

Cost of HR per employee

Goal tracking

Demographics

Time to hire

Time to productivity

Voluntary turnover

Promotion rate

Span of control

Compa-Ratio

Salary range penetration

Total compensation spend rate

New Hire Turnover

Training Completion Rate

Healthcare usage by plan

Cost-per-hire

Time to fill

Offer acceptance rate

Employee satisfaction rate

Retention rate

Absence rate (Absenteeism)

Overtime hours

Revenue per employee

Performance

Potential

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:

Employee Cycle HR analytics dashboard with professional drinking coffee and analyzing DEI data

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:

Unlimited users

Pre-built API connections to HR systems (Applicant Tracking Systems, Human Resource Management/Information Systems, Employee Engagement Platforms, etc)

Dashboard customization

Email support

Unlimited Integrations

Real-time data

HR metrics in one place

Dashboard sharing

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.

SOURCES:
https://employeecycle.com/topic/hr-analytics/

https://employeecycle.com/topic/hr-dashboard/

https://employeecycle.com/why-hr-is-moving-to-people-operations/

https://humanresourcewebinars.com/metrics-analytics-implement/

https://employeecycle.com/features/metrics-kpis/