Human Resource Analytics

Analyze your siloed HR data to get every metric on your people, talent, and workforce management

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What is HR Analytics?

HR analytics, also referred to as people analytics, workforce analytics, or talent analytics, involves gathering, analyzing, and reporting HR data. It enables your organization to measure the impact of a range of HR metrics on overall business performance and make decisions based on data. In other words, HR analytics is a data-driven approach toward Human Resources Management specifically on employee performance, talent management, and workforce analytics.

How is HR Analytics useful to HRs?

Organizations have one thing in common and that is HR functioning and associated documents. HR segment is known for the volume of data they must capture and secure every day. Every Functioning of HRs has undergone a tremendous change over the years. Earlier counted as a process-driven function but now it is more of an output-driven function. HR must quantify their processes and make them measurable. There are specific KPIs that are measurable in every HR department like employee performance, employee retention, attrition rates, Talent, and skill rates, and so on.

HR analytics is focused on collecting, monitoring, and analyzing human resource (HR) data to generate actionable insights and improve a company’s workforce, people, and/or talent management performance.

Some of the benefits of using HR analytics are:

Improving on Hiring practices and Management information
Improving and sustaining employee performance
Automating manual HR tasks
Understanding loopholes of an organization that lead to attrition
Visualizing People data to predict future demand in skills
Trend Analysis and forecasting on future employee behaviors and terminations.

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Key KPIs and Metrics in an HR report

There may be several KPIs related to human resources functions which may be related to people directly or to people’s performance or Process effectiveness and so on. Every organization has an HR department but the functioning of every HR varies in organizations, so do their KPIs or metrics.

Our Analytics team has done an in-depth study of all the major KPIs related to the HR department and below is the list to give you an overview of what your dashboard should comprise while sorting out KPIs for your organizational dashboard.

Key Human Resource metrics

Seniority
Gender
Age
Education level
Function type
FTE
Employees Active
Turnover
New hires
Absence
Cost of absence
Cost of labor
Training cost
Recruitment cost
Time to fill

Workforce Management KPIs

Absenteeism rate
ROI of outsourcing
Succession planning rate
Open/closed grievances
Promotion rate
Time to productivity
Successor gap rate
Worker composition by gender, experience, and tenure
Internal mobility
Manager quality index
HR effectiveness
Employee satisfaction rates
Training ROI

Compensation KPIs

HR functional operating expense rate
Labor cost per FTE
Labor cost revenue percent
Labor cost revenue expense percent
Total benefits as a percentage of labor costs
Revenue per FTE
Profit vs. compensation per FTE
HR functional cost per employee
Human capital ROI

Recruitment KPIs

Quality of hire
Vacancy rate
Turnover rate
Resignation/retirement rate
External hire rate
Time-to-fill
Diversity, experience, and gender hire ratio
Recruiting funnel metrics
Talent import/export ratio
Voluntary turnover rate
Retention rate
Recruiting expense per new hire
Retirement rate forecast

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Our HR Analytics Dashboard Samples

HR Analytics

Executive Summary

Our HR analytics Executive summary dashboard is where one can have a bird's eye view of all the Key HR KPIs at a glance. As the name suggests, this dashboard is very useful for the top-level executives of the organization like CEO, COO, CTI, VPs, and head – HR. It helps you understand where your organization is in terms of Demographics, Hirings, Open positions or rate of termination, etc. It is a more visual dashboard.

Overview

As the name of this dashboard suggests, it gives an overview of all the major statistics, the HR team is looking for like headcount, salary, department-wise team strength, new hires, and terminations, and more. This dashboard gives you numbers instead of graphs and charts.

Demographics

HR executives need to strike a balance in their workforce and maintain diversity. So, they need to fully understand the demographic characteristics of their employees. This HR dashboard template helps HR professionals analyze their employee data based on gender distribution, ethnicity, designation type, department, location, structure, job function, and tenure.

Diversity

To understand and fulfill the diverse needs of any organization, HRs must keep a close watch on diversity in their employees. To monitor this, diversity dashboards come in handy which give you a glance of diversity in hiring, gender, grade, employee group, and business units. Even, you can understand the diversity in the number of terminations happening.

Awards

This dashboard showcases the different awards each team received. The dashboard shows the yearly performance, award type, groups & designations.

Open Position

This dashboard gives a glance over the newly open positions in any organization. One can easily identify the open positions by job function, business unit, location, diversity, grades, etc., and also get an understanding of temporary and permanent positions.

Filled Positions

This dashboard gives the details about recently filled/ hired people and positions Number of positions filled by job function, business unit, location, diversity, grades, etc. This dashboard gives a glance over the newly open positions in any organization. One can easily identify the open positions by job function, business unit, location, diversity, grades, etc., and also get an understanding of temporary and permanent positions.

Termination

This report helps to analyze the termination data of employees by gender, ethnicity, designation type, location, experience, job function, & tenure.This dashboard gives a glance over the newly open positions in any organization. One can easily identify the open positions by job function, business unit, location, diversity, grades, etc., and also get an understanding of temporary and permanent positions.

Hiring

This hiring dashboard provides an overall view of the hiring process of a company, along with important HR KPIs and metrics. You learn about the number of open positions, the number of applicants for those positions, and details of hiring for the grades, age, month, location, etc.

Forecast

Based on various trends- A forecast of some of the KPIs can be done like the number of openings the organization can have in any upcoming month. Or possible terminations that can happen in a few months. Forecasting can also be done for possible hirings that can happen in some time so the onboarding team can plan. Organizations can set up their future goals and vision as per the forecast of possible headcount they may have over a period on quarter, half-year, or annually.

Forecasting can give stakeholders insightful details on the upcoming budget and hiring goals.

Our Approach for developing HR analytics dashboards

Phase 1

Finalizing the requirement

Assessment session

Envisioning session

Designing Workshop

Phase 2

Implementation

Deliverables

Design and Development

Phase 3

Deployment

Testing and Deployment

Phase 4

Maintenance

Support and Maintenance

Beyond Key Advantage

With over 15 + years of BI and analytical services, Beyond Key has the experience your organization deserves. As Microsoft Gold providers, we know how to uncover insights hidden in your data and enhance your data exploration capabilities.