Human resource departments are one of the most consistently underrated departments of a corporation. Without them and their people skills, a business could quickly fail. This is why being able to stay organized with the use of a dashboard is so important. Since 85% of HR teams that try dashboard end up becoming full-time users, there are various reasons why dashboard is growing inexorably in popularity.
The key to a successful human resources department is being able to identify trends and patterns. This can be done by analyzing data from the HR dashboard. But what should you have on your HR dashboard? On this page, we will cover all that you need to know!
Employee Satisfaction Levels
One thing that should be on the HR dashboard is employee satisfaction levels. If your employees are not happy, then it can lead to low productivity and high turnover rates. As well, employees will be more open about sharing their frustrations. Seeing this trend before it gets too far out of control can help you remain competitive in your industry and also increase morale among your employees.
How to Measure Employee Satisfaction Level?
The easiest way to measure employee satisfaction levels is to ask your employees for feedback. All departments in the company must be asked the same questions, so you’ll need to do some checks along the way to make sure all of your research is consistent.
Workforce Demographic Information
It’s essential to compile the information from everyone in your company (so don’t neglect any of your departments). If you’re aware of more than one demographic and/or cultural group in your workforce, you’ll likely hope to include this information in your dashboard. Getting diverse perspectives can help you plan future business development initiatives, meaningfully market products, and create more inclusive work environments.
Gender Salary Comparison
Sadly, the amount of money a person earns is affected by gender, and women usually earn less than men. As forward-looking HR teams, we need to start cutting the gender pay gap. The first step in doing so is having this information handy on your dashboard.
Can a Dashboard Help My Business Cut the Gender Pay Gap?
Many people are becoming concerned about the fact that women make less money for the same work as men. Suppose you’re committed to being as transparent as possible and eliminating sexism in your workplace. In that case, all you need is a document that displays salary data so you can easily spot any inequities. Once you’ve got it on paper (so to speak), you can address any discrepancies and take steps to remedy them for future employees.
Employee Engagement (Attendance to Optional Meetings)
Employees are more likely to come to optional meetings if they know they will be compensated for their time. Letting employees know about your company’s policy on this, in the beginning, is an excellent way to ensure they will show up. Not to mention, a great way to measure employee engagement is seeing how they respond to optional meetings that are unpaid.
How to Measure Employee Engagement?
The easiest way to measure employee engagement is by looking at how often employees attend optional meetings. If everyone in the meeting shows up, it’s a fair assumption that they are engaged and interested in what you say.
New Hire Engagement
It’s essential to reach out to new hires within the first few days of their employment, as they are more likely to leave if you don’t get in touch with them right away. Offer a brief orientation and ensure that your company’s policies are explained to avoid confusion on either side.
Another way to engage new hires is by creating a company-wide group chat that they are automatically added to. You can also include an introduction email, welcoming them and thanking them for joining the team. Consider putting data on new hire engagement in your dashboard.
Turnover Rate (Both Voluntary and Involuntary)
It’s also important to understand your turnover rate. The turnover rate is the ratio of the number of people who voluntarily left your company for some reason and those who were terminated, divided by the total number of people in the company. You can use this information to assess how quickly your employees are leaving and whether there might be a problem with your business culture or policies, such as lack of flexibility.
How Do I Know if My Turnover Rate is Normal?
The turnover rate should be viewed in context with other businesses in your industry. Usually, it’s not considered abnormal for an organization to have a turnover rate of 10% - 25%. If you’re experiencing higher levels of voluntary and involuntary turnover, though, you may want to investigate so you can find a solution.
Monthly Recruiting Trends
Another widget that should be on the HR dashboard is monthly recruiting trends. When your company has a high turnover rate, more resources will need to be dedicated to recruitment efforts, leading to higher costs for hiring staff.
Company Culture Index
The company culture index is a method of measuring the ‘health’ of a company’s culture. It’s calculated based on various factors, including participation in staff meetings, acknowledgment of others’ contributions, and whether there’s an emphasis on creativity. In a company culture scorecard, higher scores are better.
How to Assess Company Culture
Start by looking at your culture index, then try to address any problems. You can do this by delegating tasks to motivate employees or creating a more inclusive work environment. You might also want to examine your compensation policies and benefits package (such as maternity leave) to see if anything needs to be adjusted.
Potential Risk Factors (i.e., Discrimination, Harassment)
The final risk factor that should be on your dashboard is potential discrimination and harassment. One of the most common claims filed with HR is discrimination. Harassment is another form of discrimination that can range from verbal abuse to sexual assault. The goal here is to minimize the likelihood of these claims being filed by having no-tolerance policies to show that you will not accept behavior like this.
The Opportunities are Endless!
If you are ready to take a step towards having a better HR department, consider using a dashboard! The opportunities for data that you can monitor using a dashboard, in reality, are endless! Having an effective human resources department dashboard will help your company to run smoothly.
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