Whether you’re an HR employee or a manager, you’re already aware of how essential managing employee data is. The HR department‘s main role is to manage every employee-related task, such as payrolls, performances, leaves, etc.
The simplest way to do this is by monitoring some key HR metrics. To make things simpler, you can use our professionally designed HR dashboards to survey HR metrics.
Let’s explore some HR metrics.
Time to Hire (Time in Days)
Often, tracking recruiting processes can get challenging. However, with this HR metric, it becomes easier. Time to hire measures the time from when a candidate applies for a job until they accept the offer. This HR metric offers insights into candidate experience and recruiting efficiency.
By recruitment efficiency, we mean the rate at which the HR department processes a candidate’s profile. This includes assessments, interviews, job acceptance, etc. In short, if your company takes a while to hire candidates, your HR processes might need some work.
Early Turnover
Want to determine your company’s hiring success? This HR metric is all you need. Early turnover is a vital HR metric that displays the employee percentage that has left the company within its first year.
This HR metric can help discover problems in various HR processes, including hiring, onboarding, etc.
Workforce Headcount
Workforce headcount is an HR metric that displays the total number of employees or people in your organization during a specific period. Although workforce headcount is one of the most crucial HR metrics organizations must track, many of them struggle to do so.
Luckily, organizations have tackled this problem with the help of HR dashboards. Organizations also use full-time equivalent, another metric to track the number of employees. Remember, workforce headcount is the total number of employees in your organization, including all types of employees that are part-time and full-time, etc.
Absenteeism Rate
Since HR personnel must keep track of every employee-related matter, they also need to monitor absents or leaves taken by employees. To do so, they can track the absenteeism rate metric. This metric offers an overview of how often an employee takes leaves. This data can be beneficial in spotting productivity at your workplace.
It can also help determine the company’s shortcomings that may contribute to an employee’s absenteeism rate. Plus, it can be an indication of an early turnover too.
Retention Rate
Retention rate computes the percentage of workers who remained on the payroll from the start of a given time to its conclusion. This excludes any recent hires made throughout that period. Depending on the information you want to group, you can evaluate your retention rate annually or quarterly.
Biz Infograph is Your Go-To Stop for Professionally Designed HR dashboards!
If you’re wondering where to find professionally designed HR dashboards, look no further than Biz Infograph’s professionally designed slides and dashboards.
At Biz Infograph, we take pride in being Toronto’s top venture offering a valuable collection of business dashboards. From HR dashboard templates to sales dashboard templates to financial dashboard templates, we offer it all.
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