Data Structure
Networking
RDBMS
Operating System
Java
MS Excel
iOS
HTML
CSS
Android
Python
C Programming
C++
C#
MongoDB
MySQL
Javascript
PHP
Physics
Chemistry
Biology
Mathematics
English
Economics
Psychology
Social Studies
Fashion Studies
Legal Studies
- Selected Reading
- UPSC IAS Exams Notes
- Developer's Best Practices
- Questions and Answers
- Effective Resume Writing
- HR Interview Questions
- Computer Glossary
- Who is Who
What Are the Benefits of an HR Dashboard and How to Create One?
Data is the fuel that runs the business world today. Data is present everywhere. The Human Resources department, just like other functional departments today, is using its internal data and industry-standard data to produce impeccable learnings. Human capital is the most important capital in the business, so businesses must take care of it. An HR dashboard helps the business understand the composition of the employees, what issues the company is facing when it comes to its employees and its working environment, and what the company is doing better than the industry.
In this article, we'll look at how human resources practitioners can use Excel to create dashboards, what software companies can use to create HR dashboards, and what the benefits of creating an HR dashboard are for businesses.
Creation of a Human Resources Dashboard
Human resources dashboards are the visual presentation of the HR Key Performance Indicator (KPI). These dashboards help the management understand all the parameters important to and related to the people of the organization at a glance. Let us understand the step-by-step guide for how to create an HR dashboard in Excel −
Import your data into Excel − All the relevant information that you have regarding every employee should be there in Excel. If you have the data in another place, you can
Copy and paste the data into the workbook.
You can add the data using the Excel add-in option or the import data option.
Open a new workbook, and go to the data bar on the ribbon section; after that, go to the Get Data option, and select the source through which you want to import the data.
Name your sheets − This might seem like a simple step, but it is very crucial so that you are not lost in between data. Add in two or more worksheets and name their raw data and chart data.
Clean your data − Before running anything on the data, you have to ensure that you have cleaned your data. Certain points that you can keep in mind when cleaning the data are
The data should be in tabular format.
The data should be consistent overall.
There should be no typos or blanks between the different rows and columns.
You can go to the data tab and then click on the "remove duplicates" option to clear out any entries that are repeated twice.
Your data should be clean and meaningful to create charts or pivots that are useful.
Analyze your raw data − Instead of copying and pasting the entire raw data, it is time for you to use your human intelligence and only copy and paste the data that is useful for you in the creation of the dashboard or the points that you would want to highlight in the chart. Copy the relevant data onto the modified data Excel sheet.
Determine the visuals − There are different options available for you to present or visualize your data. Some of the options available in Excel are −
Pivot table
different charts, like bar graphs, column charts, trend lines, pie charts, waterfall charts, and others.
Power pivot
Conditional formatting
Excel formulas to set up the calculations and the filters or the sorting of data
Creation of Pivot − After you have determined the visuals that you want to use and the purpose of creating the graph, it is time that we start doing the same. We have taken a pivot because it is the recent trend in the business industry. Now there are two types of pivot charts. Static charts, like dynamic charts, do not change after they are created.The dynamic charts vary according to the filters and slicers that you apply. It helps the company get a better understanding of the situation. Ways to create a pivot are −
Select the data cells or the entire modified data range.
Go to "insert ribbon."
Click on the "add pivot table" button or choose the recommended pivot.
Choose where you want to pivot to enter; you can add the chart data or the new workbook, and then click okay.
After this, add the fields to the different rows, columns, and filters as needed.
Drag them to make the pivot more interesting and relevant.
After the table is created, you can add the pivot chart to make that look like a dashboard.
For making the chart dynamic, you can add slicers by going to the insert option and adding them in. Now with the slicers, you can modify the chart as per your questions without changing the table.
Some of the tools that companies can use to create human resources dashboards are
Tableau application
Power BI application
Google Data Studio
IBM Congo Analytics
OpenHR application
OpenHR API application and others
Benefits of Creating a Human Resources Dashboard
A human resources dashboard can give the business and the manager insights about the companies and their workings that would be very useful for them to sell their own products to the client, make important merger and acquisition decisions, and other decisions depending upon the different macroeconomic factors. With an HR dashboard in place, companies can easily understand −
The company's absence rate
The organization's turnover rate
Succession plans
The number of open and closed grievance cases
Training and development costs
Training and development hours
Utilization hours, rate, and ratio
Internal mobility of employees
HR effectiveness
Employee satisfaction rate
The retention rate of the company
Labor cost per FTE, contractual, or total employees of the organization
Revenue earned per FTE, contractual, or total employees of the organization
Profit versus compensation
Human capital is a return on investment
HR functional cost per employee
Employee productivity
Quality hire
Vacancy rate
It's time to hire
Voluntary turnover rate
In terms of hiring and employee percentage, diversity is important
Offer acceptance rate and offer decline rate
Number of HR practitioners for the total number of employees in the organization
Employee composition in terms of gender, age, working experience, educational level, and others
With a human resources dashboard in place, companies can ensure that they have a happy and productive workforce. Now the business and management are not making people-related decisions in the air or according to their biased judgments but on the basis of the data of the organization and how the market is performing on those parameters. When the managers are aware of this data, they also know how to sell their companies to the employees. In a survey conducted, it was found that though compensation is the major factor why people are looking for a job change, along with that, the working culture of the company matters a lot. Hence, the work culture plays an important role in retaining employees as well as hiring new talent. Employees are not leaving their organizations, but their managers are, which is something that companies should always keep in mind.
133 Views
To Continue Learning Please Login