What should be on an HR dashboard?

What should be on an HR dashboard?

To help you get started on your own HR analytics dashboards, listed below are metrics you should consider for 3 main areas: workforce management, compensation and recruitment. Workforce Management KPIs: Absenteeism rate. ROI of outsourcing.

What key performance indicators KPIs are best to include in an HR dashboard?

Here is the complete list of the top 19 human resources KPIs and metrics that every HR professional and manager should know:

• Absenteeism Rate.
• Overtime Hours.
• Training Costs.
• Employee Productivity.
• Talent Satisfaction.
• Cost per Hire.
• Recruiting Conversion Rate.
• Time to Fill.

How do I create a HR dashboard?

Follow the four steps below to create an HR dashboard to get better insight into performance and understand what’s working and what’s not.

1. Decide which metrics you want to track.
2. Collect the relevant information.
3. Centralize your data.
4. Use HR software.

What metrics are used in HR Analytics?

Here are some key HR metrics that are helpful in this process.

• Absence rate.
• Absence rate per manager.
• Overtime expense.
• Employee Productivity Index.
• Training expenses per employee.
• Training effectiveness index.
• Training efficiency.
• Employee happiness.

How do you create a HR scorecard?

There are five steps to create an HR scorecard:

1. Create an HR strategy map.
2. Identify HR deliverables.
3. Creation of HR policies, processes, and practices.
4. Aligning HR systems.
5. Creating HR efficiencies.

What should HR monthly report include?

5 standard HR reports small businesses need

• Attendance and absence reports. When it comes to absence from work, there are key things that every business should understand.
• Recruitment reports.
• Turnover and retention reports.
• Performance management reports.
• Training and development reports.

What are the 5 key performance indicators?

What Are the 5 Key Performance Indicators?

• Revenue growth.
• Revenue per client.
• Profit margin.
• Client retention rate.
• Customer satisfaction.

How is HR productivity measured?

One standard measure of productivity is output per worker-hour, or the ratio between the number of hours worked to total output. You can also measure your productivity per week or month if each unit of production takes more than an hour to create.

How do I create an HR dashboard in Excel?

It is fairly easy to make a basic HR dashboard in Excel. Create a Table (‘Insert’, ‘Table’) with the relevant HR data. Open a new worksheet and add slicers (‘Insert’, ‘Slicer’) for the HR metrics you want in your dashboard. Arrange the slicers to create your dashboard.

What are the three levels of HR metrics?

The three types of HR analytics are descriptive, predictive, and prescriptive. Each provides a different perspective on your company’s data.

What are the 4 levels of HR analytics?

That’s why it’s important to understand the four levels of analytics: descriptive, diagnostic, predictive and prescriptive.
…
4 levels of analytics you need for better decision making

• Descriptive analytics.
• Diagnostic analytics.
• Predictive analytics.
• Prescriptive analytics.

What are the 4 perspectives of a balanced scorecard?

The four perspectives of a traditional balanced scorecard are Financial, Customer, Internal Process, and Learning and Growth.

What is step 6 of the HR scorecard approach?

Once Step 6 is complete, the organization-level scorecard system is ready to be rolled out to employees. The goal of this part of the process is to create more internal fans and build a coalition of employees to start thinking more strategically and using the system to better inform decision making.

What are the 7 major HR activities?

The 7 Major Functions of HR Activities

• Recruitment and Employee Screening. Acquiring new talent is something every business needs to do if they wish to grow.
• Company Benefits and Compensation.
• Performance Evaluation.
• Employee Relations.
• Enforcement of Disciplinary Actions.
• Employee Records.
• Continued Education.

What data should HR collect?

HR professionals gather data points across the organization from sources like:

• Employee surveys.
• Attendance records.
• Employee reviews.
• Salary and promotion history.
• Employee work history.
• Demographic data.
• Personality data.
• Recruitment process.

What are the 4 main KPIs?

Anyway, the four KPIs that always come out of these workshops are:

• Customer Satisfaction,
• Internal Process Quality,
• Employee Satisfaction, and.
• Financial Performance Index.

What are the 3 types of KPIs?

Types of KPIs include: Quantitative indicators that can be presented with a number. Qualitative indicators that can’t be presented as a number. Leading indicators that can predict the outcome of a process.

What is benchmarking in HR?

Benchmarking is a mechanism for measuring processes, practices and results for comparison to improve performance. If it is used wisely, it can transform an organization’s HR and people management strategies by showing how human resource practices influence the organization’s success.

How HR outcomes can be monitored and measured?

Labor Turnover Report

Labor turnover measures the number of people who leave a business in a given period as a percentage of the average number of people employed during that period. Excessive labor turnover indicates a failure of personnel policy, while lower turnover reflects the success of such a policy.

Which HR metric is most important?

Employees are the beating heart of any organization. As such, employee turnover rate is one of the most important HR metrics you can track, but like many of these metrics, it’s most useful with context.

What is the difference between HR metrics and HR Analytics?

Metrics don´t say anything about a cause, they just measure the difference between numbers. HR analytics, also called people analytics, is the quantification of people drivers on business outcomes. Analytics measures why something is happening and what the impact is of what’s happening.

What are HR metrics SHRM?

Metrics are measures of the effectiveness, value and/or costs of a particular program or process. Examples of HR metrics include cost-per-hire, turnover rates/costs, training and human capital return on investment (ROI), labor/productivity rates and costs, benefits costs per employee, etc.

Is balanced scorecard still relevant?

Although the Balanced Scorecard was introduced decades ago, it’s still relevant and widely used. 2CG, a strategic execution consultancy firm, has been conducting yearly surveys about the Balanced Scorecard since 2009 in an effort to better understand why and how it’s used.

What is the difference between management by objective and balanced scorecard?

OKR and MBO both have an emphasis on what the end goals are, whereas the BSC model includes a strategy map that helps one focus on the how as much as the what to achieve. MBO and BSC are both risk averse systems that look at large goals that are completed through a series of steps.

How do you evaluate HR performance?

Evaluation Process

1. Set Goals, monitor goals, provide feedback, and document feedback and progress throughout the evaluation period.
2. Review position description.
3. Employee’s Self Evaluation.
4. Provide rating.
5. Review goals.
6. Summarize evaluation.
7. Rate overall performance.
8. Acknowledge evaluation.