Talent acquisition, management, and retention take center stage when it comes to human capital. Employees need the motivation to stay. Financial incentives are no longer sufficient to make an employee loyal. Companies are investing in research to know the best employee benefits to give their staffs.
These emerging needs bring a sharp focus on the human resource departments. Lately, HR professionals have found their trade threatened by technological changes that improve HR functions while also making commonly held HR practices null such as the culture of secrecy.
The HR dashboard is an innovative tool that helps this department in monitoring its operational efficiency. Lately, it has become a go-to resource for companies when making functional HR reports. If you have a company and you are worried about how to go about it, read on.
The article will focus on the HR dashboard in general but with specific emphasis on two areas that have not prominently featured when it comes to HR innovation, employee incentives, and training.
Identify It as a Communication Tool
A dashboard is not just a management tool; this public board informs your core teams the status of the human capital. If you hide it, it will not serve its purpose. Employees need to understand their incentives if they are to pursue them. Invest in the presentation. For example, the employee will want to know where he or she stands in the leaderboard.
Identity the Key Components of Your HR Dashboard
In most dashboards, the following items feature prominently:
- Recruitment status—ongoing projects, upcoming recruitment drives, recruitment plans etc.
- Employee performance—key performance indicators, absenteeism, talent management, leaderboards, performance issues, etc.
- Talent developments—welcome boards, orientation boards, etc.
- Employee motivation—employee satisfaction, employee benefits, employee incentives, etc.
- Training—courses, seminars, mentorships, etc.
Each organization has the unique HR features that it can implement on a dashboard. The HR consultant can also make several boards based on the information contained therein. Some information will benefit the C-suite staff more than the rest of the team. Such information can include the employee turnover rate, succession plans, etc. The converse will apply to information such as team training and mentorship.
Identify the Key Indicators and Metrics
A good dashboard must have an objective. If the aim is to communicate new incentives, it has to be clear on that part. For example, set milestones that the company will use to gauge progress. The focus will be on every employee-related data. It can be absenteeism, cost of recruitment, payroll, overtimes, disciplinary and legal issues, compensation trackers, employee leaves, etc.
Digitize the Reports
Nowadays, companies cannot afford to keep static reports. Many companies employ agile methods such as project management software. Such programs can accommodate employee dashboards. Such dashboards are flexible. You can make updates to them easily. Ensure that the reports are usable in this format; otherwise, you will defeat the purpose of keeping the board.
Update the Reports Continuously
Keeping annual reports on the dashboard is okay, but having current boards that keep changing is imperative when you want to keep employee morale to the maximum. For example, employees will want to see improvement after training. They will want to see the results of their recent efforts. This is where the HR team can borrow insights on how to improve employee performance.
Focus On Proactive Data
Pictorials and smart arts can make quite an interesting read, but in there lies proactive insight that HR teams must grasp. The focus should be on the emerging questions. It is a straightforward process.
- Why did something happen?
- What can you do to rectify it?
- Do you have the resources to do it?
- Who will do it?
When will he/she do it?
Creating a dashboard is one thing, creating a functional one is another thing altogether. With the steps above, you can make a useful tool for your HR functions.