HR Dashboard – Meaning, Functions, Benefits, and Types

What is HR Dashboard?

HR dashboard is defined as a business intelligence tool that is used to compile HR records and key performance indicators (KPIs). The HR team utilises this visual representation to monitor, evaluate, and report on performance. This HR management instrument allows for the consolidation of data from all systems, facilitating precise analysis. The insights derived from this can assist the HR team in aligning the company’s actions with its established goals and making informed decisions to enhance recruitment, workplace management, and employee performance.

Functions of HR Dashboard

1. Optimising Human Resources Management: The dashboard aids in refining HR processes, and enhancing efficiency and productivity within the organisation.

2. Tracking and Analysing Problems: It serves as a tool for identifying and scrutinizing issues, helping to devise effective solutions.

3. Reviewing and Improving HR and Recruitment Processes: The dashboard facilitates the assessment and improvement of HR and recruitment procedures, ensuring optimal outcomes.

4. Fully Interactive: The dashboard offers interactive data analytics capabilities, allowing for in-depth exploration and analysis of HR data.

5. All Data Sources: The dashboard can integrate and analyze data from various HR systems and applications, providing a comprehensive view of people analytics.

6. Augmented Analytics (AI): The dashboard utilizes AI for advanced data analysis, offering deeper insights and predictive analytics.

7. Automated Alerts and Reporting: The dashboard provides automated alerts and reports, enabling efficient tracking and timely decision-making.

8. Built for Mobile: Designed with a mobile-friendly interface, the dashboard ensures accessibility and connectivity on the go.

9. Simple Data Preparation: The dashboard simplifies data preparation, making it easier to analyse and interpret HR data.

10. Security and Access Controls: The dashboard prioritises data security, restricting access to authorized personnel and safeguarding sensitive employee information.

Benefits of HR Dashboard

Dashboards provide numerous advantages to an organisation, including monitoring internal and external performance. Here are some other benefits,

1. Decision-making Enhancement: By monitoring KPIs, the HR department can gain insights into the company’s health, inform recruitment needs, identify performance challenges highlight areas for improvement and guide the team in new hires. This data can also evaluate the effectiveness of management and work strategies, informing whether changes are necessary for productivity.

2. Analysis Solutions for Organisation: Dashboards offer precise data analysis solutions, centralising data for easier analytical procedures by the HR teams. HR metrics can be used to evaluate employee and departmental performance, including turnover rate, work accident rates, and recruitment cost. For instance, the turnover rate can indicate the effectiveness of the company’s talent management policy.

3. Improved Employee Management: This HR tool can assist in managing remote employees. Performance dashboards can track assignment and task progress, promoting accountability among team members and enhancing productivity. An office portal accessible via the Internet can facilitate this for all employees.

Types of HR Dashboards

Depending on the tasks at hand, various types of dashboards can be utilized. Understanding the different types can provide insights into their applications and significance. Here are three types of dashboards:

1. Performance Dashboards: These dashboards are instrumental in evaluating employee performance, including both current employees and new hires. HR metrics such as absenteeism rate, work hours, turnover rate, and productivity are used to assess employee well-being. This dashboard can also identify talent and exceptional team members for recognition and rewards. Evaluating new hires can provide insights into the effectiveness of their training and their adaptation to the job.

2. Recruitment Dashboards: This HR tool is used to assess the organisation’s recruitment process and the effectiveness of hiring campaigns. It focuses on the success of communication, recruitment demands, and costs. The tool can evaluate the response rate to job advertisements, the speed of responses, and the channels used. Monitoring hiring costs is crucial to compare the resources used in hiring to the value added by the new hires.

3. Employee Management Dashboards: These dashboards concentrate on talent management, assessing the evolution of full-time and part-time employees. If the organisation operates smoothly with more part-time than full-time employees, it may indicate a reduced need for full-time members. This can inform decisions regarding employee working hours and potential cost reductions. The dashboard can also evaluate employee retention strategies, as loyal employees contribute to increased workplace productivity.

Examples of HR Dashboard

An HR dashboard is a versatile tool that allows managers to gain a comprehensive view or delve into specific details. Here are six types of HR dashboards and their uses,

1. Employee Performance Dashboard: This dashboard enables HR and business leaders to evaluate key employee-related metrics. It typically displays employee ratings, wages, and engagement levels, providing insights into whether employees are effectively meeting their goals.

2. Workforce Demographic Dashboard: This dashboard provides a broad view of the workforce, including the age distribution of employees, the number of nationalities represented, and gender balances. It can also analyse data such as education levels versus income, and salaries by market, geography, role, or gender.

3. Gender Salary Comparison Dashboard: This dashboard allows HR leaders and business executives to compare salaries across different genders, providing an accurate representation of compensation for women, men, and non-binary individuals in the organisation.

4. Executive HR Dashboard: This dashboard offers a comprehensive view of employee-related information, including the number of employees, their locations, hiring/leaving ratios, employee satisfaction scores, training completion rates, and average salaries over time or by division.

5. Team Role Dashboard: This dashboard is useful for tracking larger teams and providing a quick overview of team performance. It compiles relevant metrics about team performance and individual roles, including group OKRs, training, holidays, satisfaction scores, and team-specific goals.

6. Employee Development Dashboard: This dashboard tracks the progress of employee training. It can display the number of programs undertaken, the cost of training, the number of hours completed, and the percentage of employees who have completed the training.

Metrics of HR Dashboards

Metrics in HR can serve as a standard for quantifying the analysis of the workplace. These metrics can assist in identifying the direction of employees and the workplace, and evaluating the efficiency of current management systems. Here are some typical HR metrics that can be incorporated into these dashboards,

1. Employee Turnover Rate: This is the percentage of employees who leave the company in a given period. It is a key indicator of employee satisfaction and retention. A high turnover rate could indicate dissatisfaction among employees or a toxic work environment, while a low turnover rate could suggest that employees are happy and engaged with their work.

2. Cost Per Hire: This metric includes all the costs associated with hiring a new employee, such as advertising, recruitment agency fees, travel costs for interviews, relocation costs, and training costs. It is an important measure of the efficiency and effectiveness of the recruitment process.

3. Time to Fill: This is the number of days from when a job is posted until it is filled. It’s a measure of the efficiency of the recruitment process. A shorter time to fill can indicate a strong employer brand and effective recruitment strategies, while a longer time to fill might suggest challenges in attracting qualified candidates.

4. Employee Engagement Score: This is a measure of how engaged and committed employees are to their work and the company. It can be measured through surveys and feedback. High engagement scores are often linked to higher productivity, better employee retention, and improved business outcomes.

5. Training and Development Metrics: These could include the number of training hours per employee, the cost of training per employee, and the effectiveness of training programs. These metrics can help HR teams assess the impact of their training initiatives and identify areas for improvement.

6. Diversity Metrics: These measure the representation of different groups within the company, such as gender, age, ethnicity, and disability status. Diversity metrics can help companies assess their progress towards creating a more inclusive and diverse workplace.

7. Performance Metrics: These could include individual performance ratings, team performance scores, and company-wide performance measures. Performance metrics can provide insights into employee productivity and effectiveness, and can be used to inform decisions about promotions, raises, and bonuses.

8. Absence Rate: This is the ratio of days lost to total number of days worked in a given period. It can help identify patterns and issues related to employee absence. High absence rates could indicate issues with employee health and well-being, or problems with job satisfaction and engagement.

9. Benefits Utilisation Rate: This measures how many employees are taking advantage of the benefits offered by the company. A high utilisation rate could indicate that employees value the benefits package, while a low rate might suggest that employees are not aware of the benefits available to them or do not find them valuable.

10. Employee Satisfaction Score: This can be measured through regular employee surveys and can provide insight into overall employee happiness. High satisfaction scores can indicate a positive work environment and strong employee morale, while low scores might suggest problems with management, work conditions, or company culture.

How to Create a Human Resource Report?

A superior platform will always outperform a spreadsheet. This is because your HR dashboard requires a real-time, constantly updated solution that enables your teams to access more information and insights with ease. Here are some key strategies and best practices for developing an effective HR dashboard,

1. Select the Appropriate Platform: Choose a comprehensive HR solution (and dashboard) capable of reporting on every aspect of the employee lifecycle.

2. Emphasise Automation: Utilise software that can automate and pre-configure dashboards, saving time and providing deeper insights.

3. Concentrate on Relevance: Include only the most crucial HR metrics to keep the dashboard succinct and actionable. Consult with executives to understand what they would like to see.

4. Utilise Effective Data Visualisation: Use charts and graphs to simplify complex HR data, making it easily understandable, especially for high-level stakeholders.

5. Ensure Data Accuracy: Regularly refresh data sources to maintain accuracy. This can be achieved with elements of employee self-service and data security.

Difference between HR Dashboards and Static Reports

Organisations gather a vast amount of information that can be transformed into actionable data. Dashboards and static reports are the two primary methods for disseminating this data. While both serve the purpose of collecting and analyzing company data, they differ in several ways:

Basis	Dashboards	Static Report
Design	Dashboards are concise, typically emphasising the most critical information related to the analysis topic.	Reports can span multiple pages and may contain more visual elements like graphs than dashboards.
Features	Due to space constraints, dashboards primarily highlight numerical data analyses.	Reports can incorporate both numbers and text in their analysis.
Perception	Dashboards, due to their dynamic nature, offer an objective analysis.	Static reports offer subjective insights.
Volatility	Dashboards represent real-time data.	Static reports are useful for analysing historical data.
Details	Dashboard software with auto-updating features can be used to analyse data in real-time.	The report manager’s insights on the data results make the report subjective rather than objective.

Conclusion

In conclusion, an HR Dashboard is a powerful tool that provides a real-time, comprehensive view of an organization’s human resources data. It outperforms traditional spreadsheets by offering an up-to-date solution that allows teams to access more information and insights efficiently. Choosing the right platform, prioritizing automation, focusing on relevance, utilising effective data visualisation, maintaining data accuracy, and continuously refining the dashboard are key strategies for creating an effective HR dashboard.

Frequently Asked Questions (FAQs)

1. What is HR Dashboard?

An HR Dashboard is a visual display tool that provides a real-time overview of an organisation’s human resources data. It allows HR teams and executives to monitor key performance indicators (KPIs) and make informed decisions.

2. What are the benefits of using an HR Dashboard?

HR Dashboards offer numerous benefits, including real-time data analysis, improved decision-making, increased efficiency, and enhanced communication. They provide a comprehensive view of HR metrics, helping organisations identify trends, monitor performance, and plan for the future.

3. What types of data can be included in an HR Dashboard?

An HR Dashboard can include a wide range of data, such as employee turnover rate, cost per hire, time to fill, employee engagement score, training and development metrics, diversity metrics, performance metrics, absence rate, benefits utilization rate, and employee satisfaction score.

4. How can an HR Dashboard improve decision-making processes?

By providing real-time, actionable insights, an HR Dashboard enables decision-makers to identify trends, monitor key metrics, and make data-driven decisions. This can lead to improved employee satisfaction, increased productivity, and ultimately, business success.

5. What are the best practices for creating an effective HR Dashboard?

Best practices include choosing the right platform, prioritizing automation, focusing on relevance, utilising effective data visualisation, maintaining data accuracy, and continuously refining the dashboard based on user feedback. These practices ensure that the dashboard remains a valuable tool for the organisation.