Before you start to create your HR report, there are a few considerations to be made about the ‘how’ and ‘when’.
- Automated vs. manual – A lot of organizations still work with ad-hoc data reports. For example, when a manager or director wants to know something about the organization’s workforce, they ask HR to send them a report. After this request, the HR data department will work overtime to produce this report. This is an example of (inefficient and) reactive reporting. HR reports should be deployed (pro)actively and should, therefore, be automated.
- Static vs. dashboard – In line with the previous point, there’s still a fair amount of organizations that work with manual/paper reports. This isn’t necessarily bad: When the information isn’t prone to change, paper reports can be quite effective.
An HR dashboard, however, offers the possibility to drill down. Turnover may be an interesting metric, but how much of this turnover consists of regretted loss? You wouldn’t bat an eye when a bad performer leaves, but it’s like shooting yourself in the foot when the one who leaves is a high performer and potentially senior management material. Interactive dashboards enable you to drill down into your data and make these observations. You can either give everyone access to this dashboard or provide the relevant drill downs for everyone to see.
Few KPIs to include in a HR Dashboard
- Ethnic Diversity Ratio: Track the diversity of your company’s workforce
- Gender Ratio: Measure the ratio of male to female employees in your company
- Span of Control: Monitor the number of subordinates working under a manager
- Headcount: Track the size of your company or department
- Applications Received per Vacancy: Track the popularity of your job vacancy postings
- Signing Bonus Expense: Measure the average size of the signing bonus for all new hires
- Cost per Hire: Measure how much it costs for a single hire
- Turnover Rate: Analyze the effectiveness of your employee retention efforts
- Recruiter to Open Requisitions Ratio: Measure the ratio of recruiters to open job positions waiting to be filled
- Job Offer Acceptance Rate: Measure the rate at which job offers are accepted by prospective employees
- Open Job Requisitions: Monitor the number of open positions within your company
- Training Costs: Measure and analyze the investments put forward in your employees
- Overtime Hours: Monitor the total number of overtime hours employees are working
- Employee Engagement: Track how invested your employees are in the company
- Employee Productivity: Measure the overall effectiveness and productivity of your employees
- Part-Time Employees: Monitor the number of part-time workers and students are in your employ over time