What Should Be on an HR Dashboard?
From an honest account of talent acquisition costs to team gender ratios, here are eight answers to the question, “What are some things that should be on an HR dashboard?”
- The True Cost of Your Companies Talent Acquisition
- Employee Performance Metrics
- Number of Employees in the Company
- Turnover Data
- An Overview of the Employee Onboarding Process
- Measurements for a Sense of Belonging
- Employee Engagement and Satisfaction Metrics
- Female to Male Ratio
The True Cost of Your Companies Talent Acquisition
One often overlooked but incredibly important metric to track on an HR dashboard is the true cost of your company’s talent acquisition. This includes the cost of recruiting, hiring, onboarding, and training an employee.
By tracking this metric over time, you can get a better understanding of where your company is spending money and make decisions to improve your recruitment processes. It will help you understand how much value each new hire brings to your company and if the cost is justified long term.
Michael Fischer, Founder, Elite HRT
Employee Performance Metrics
It’s crucial that an HR dashboard displays the performance of employees. This data helps HR managers and leaders make decisions about pay increases and promotions. Without these metrics, HR departments would fly blind. Without them, they wouldn’t know if they were doing a good job or not. To make these measures easier to access, it’s a good idea to keep them separate from the other dashboards and make them easy to find. Keeping it separate also helps to keep the information confidential.
Number of Employees in the Company
One thing that should be on an HR dashboard is the number of employees in the company. This will help HR managers track how the company is growing and how they need to adjust their staffing levels. Another thing that should be on an HR dashboard is employee satisfaction ratings. This will help managers see if there are any areas where they need to improve employee satisfaction.
One thing you should definitely keep in mind, especially now with the labor shortage and quiet quitting, is turnover data. To create this perspective in your dashboard, ask yourself who is leaving, why are they leaving, and what is being done to impact this?
You want to include year-over-year turnover data and sort it into many categories, e.g., employee tenure, performance, department, manager/senior leader, location and region, and reason for leaving. These elements are key to having a good turnover analysis for your HR dashboard.
An Overview of the Employee Onboarding Process
Seeing an overview helps track progress and ensures that all new hires are getting up to speed as quickly as possible. We also use it to document any changes in policy or procedure, so everyone is always on the same page regarding the onboarding process.
In addition, our HR dashboard includes analytics on employee satisfaction and engagement levels so that we can track how our team is feeling about their work.
This helps us make informed decisions on how to best support our employees and create a positive working environment. With all this data combined, it creates an essential tool for any HR professional.
Measurements for a Sense of Belonging
To measure workplace health and wellness, ask employees if they feel like they belong. According to Harvard Business Review, employees who feel a strong sense of belonging experience a 56% increase in job performance, a 50% reduction in turnover risk, and a 75% decrease in sick days.Belonging also makes an excellent recruiter. Employees who feel they belong are 167% more likely to recommend their company as a great place to work. That number is essential to any company’s internal and external reputation.This is why belonging should be on every HR dashboard. So why isn’t it? Unlike quantifiable goals, employee belonging is a feeling, not an output. And, no matter how much a company puts into diversity and inclusion, those efforts only set the stage. In the end, only the employee determines whether they feel they belong.Measuring belonging is accomplished through employee surveys, which are an excellent way to measure what’s working well and flag areas that need HR’s attention.
Employee Engagement and Satisfaction Metrics
It’s always important to have a solid overview of employee engagement and satisfaction. This information is essential in tracking how engaged our employees are in their work and ensuring they feel supported by management. It also helps us identify any areas that may need improvement or additional resources.
The most consistent method in assessing this is to have employees fill out an engagement survey regularly to provide insight into job satisfaction and morale. With this feedback, one can take steps to improve workplace culture and ensure employees are getting the best out of their experience.
Female to Male Ratio
Including such a non-obvious KPI in the HR dashboard can help to understand how fair the given workplace is. Some industries are still very gender-biased, while diversity and inclusion should always be a priority for businesses. Measuring the ratio of female to male workers, especially in top-management positions, is very important. It can tell a lot about a company. Knowing how many female and male employees there are in your company gives you a starting point for detecting where diversity and inclusion initiatives fall short and what should be prioritized. The best way to improve the situation is by using the data. Once you understand the numbers, you can dig deeper and act more accurately. What’s noteworthy, in the HR dashboard, there could be more similar KPIs—used not only with gender but also for age, race, neurodiversity, and more.
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