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Overview of Get the Best HR Dashboard
Why should you have a Get the Best HR Dashboard?
There are multiple questions to ask yourself when analyzing the hiring efforts at your organization:
• How long does it take to hire employees?
• How much money are you spending on the hiring process?
• Where are candidates looking for your job postings?
• How well do new employees perform in their role?
The answers to these questions alone don’t tell us much, but by using recruitment metrics to analyze all this data together can generate a wealth of insight into the entire recruitment process.
Here are four reasons why you should invest in a Get the Best HR Dashboard.
1. You can “see” problems
One of the biggest benefits of a Get the Best HR Dashboard is its visual nature. Data can be difficult to look through and identify patterns or trends. Creating your own tables and charts every time can also be laborious.
With an HR dashboard, you can easily see trends, insights, and potential problems.
2. Analyze your hiring funnel
A recruitment dashboard will give you a clear picture of your hiring funnel. You can see how many applicants pass from one stage to the next and know which stage in the recruitment metrics dashboard you need to focus on to improve the effectiveness and efficiency of your process. For example, if you have a low conversion rate from the number of applicants to those who reach the interview stage, then that means you are attracting a high number of unqualified candidates which eat up your company resources. Alternatively, there may be a chart that shows you the source of employees who quit the most, or in the shortest amount of time.
3. Refine your recruitment strategy
What if you analyze your hiring funnel and notice an issue like the one mentioned above? You can then look at where most of your qualified applicants are coming from, and refocus your efforts. For example, you may be more selective about where you advertise vacancies in the future, or stop working with a particular recruitment company all together. This will save you money, time and effort, as well as, help you find more qualified candidates.
4. Improve the efficiency and effectiveness of your recruitment process
Having all this valuable data in one recruiting dashboard excel enables you to make informed decisions to continually improve your recruitment process. Any alarming issues can be spotted and immediately solved or investigated further. Over time, you’ll be able to create an efficient recruitment process that is tailored to your organization’s needs.
An important aspect of Get the Best HR Dashboard is the recruiting of new talents. This is where HR analytics can play a significant role, as these insights give the opportunity to link businesses directly to new talent strategies.
Our Get the Best HR Dashboard focuses on recruitment metrics for HR professionals as well as recruited employees. Evaluating your recruiting funnel is the main task of this recruitment report template in order for you to have an idea on the number of applications your company has to review, how many of these actually pass the first round and get an interview, and how many of these interviews lead to assessment and eventual hiring. The same applies to your recruiters’ conversion rates, i.e. more than measuring their capacity to hire a lot of people, measure the efficiency of recruiting channels across the board. The goal is to find the right recruitment approach, the one that gives you the best candidates at the lowest cost; and the next step will be to invest in that recruitment channel.
Get the Best HR Dashboard Available Visualisations
Time to Hire (in days)
Days to hire means the number of days between when a candidate was initially approached and the moment s/he accepts the job. Essentially, it is the time it takes to move a candidate through the hiring process once they’ve applied for a job.
The shorter your time is to hire, the better. This indicates that your recruitment process is efficient and your recruitment team is performing well. This enables you to hire the strongest candidates, prevent them from being snatched up by a different company with a shorter time to hire. Plus, it provides a better experience for your candidates because nobody enjoys a recruiting process that drags on.
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Days to Hire, Candidates Placed, Active Candidates, Reasons to Decline, Recruitment Funnel, Open Positions
The application source metric refers to tracking the sources from which your new applications came from. This enables you to gauge the effectiveness of different recruiting channels, including agencies, different job boards, your careers page, and social media pages.
Using the recruitment dashboard template, you may notice a recurring pattern of consistently hiring employees who have applied to your job after seeing an advertisement on LinkedIn. Meanwhile, you continue to advertise on job boards, but these sources fail to convert.
A recruitment dashboard shows you the best place to hire talent for your organization. All you have to do is look at the data, do less of what’s not working and double down on what is. Cutting spending on channels that aren’t bringing you the best and most qualified candidates will save you money and allow you to spend more on the most effective sources.
Recruitment Funnel Effectiveness
One of the most valuable metrics in a recruiting dashboard is the overall effectiveness of the recruitment funnel. This means the number of people at each stage of the funnel, as well as the passing rate between stages.
This ratio is based on the number of applicants that have successfully completed each stage of the funnel—or the number of hired candidates—over the total number of applicants for that stage.