In the 21st century, many companies have adopted new technologies such as those for business intelligence, big data analytics, and embedded analytics to keep them ahead of the competition.
Many companies’ HR teams are struggling to properly utilize their resources and manage their workforce. Embedded analytics is a great solution for these problems faced by HR departments. In this blog post, I am going to give you a walkthrough on how embedded analytics will help you to resolve the challenges faced in a hypothetical HR department.
How Embedded Analytics contributes to HR department?
When it comes to the success of a business, employees are assets for an organization. Thus, the HR department plays a crucial role in a company’s success. Embedded analytics help your HR department work more independently, so there is no need to depend on experts for insight into your data. You can embed dashboards or other analytics-related modules right inside your application, work directly with your workforce data, and ease the process of breaking down the silos in the department.
We’ll be exploring these benefits of embedded analytics in an HR department in detail:
- Enhanced hiring practices.
- Improved data visualization.
- Improved employee performance monitoring.
- Increased employee satisfaction and reduced churn rates.
Enhanced Hiring Practices
To achieve business goals, companies must hire the right candidates, but this is a challenging task for HR managers. Every recruitment round gives you a large amount of data. By analyzing it properly, you can make better decisions in further recruitment processes and get quality yields. With HR metrics, you can monitor and analyze your recruitment performance.
Open positions by department: Shows the positions that need to be filled based on department.
Applications received by department: Compares the number of applications received based on department.
Offer acceptance ratio: Shows the comparison of candidates who accepted your job offers to the total candidates who received an offer.
Applications received by source: Shows the medium by which the most applications were received.
The HR Recruitment Dashboard helps you track these key metrics and evaluate how efficient your recruitment process is. Monitoring these metrics will help you improve your recruitment funnel, acquire suitable employees for openings, and understand the performance of your HR team.
Improved Data Visualization
Embedded analytics let you experience in-application access to dashboards and bring life to your data with visually appealing widgets. Forecast the results of current efforts by analyzing previous trends and patterns. Provide these forecasts to key decision-makers at the right time. You can also schedule data alerts when a set threshold is reached in one of your metrics. This helps you to keep up to date. To learn more about scheduling data alerts, please refer to this blog post.
Improved Employee Performance Monitoring
Embedded analytics help you pull data from your systems easily and save you time by doing the analysis it in your application. Tracking employee performance will help you acknowledge your employees’ hard work and find the root cause of any performance defects. You’ll then be able to resolve issues by providing additional training for weak skills.
Gender diversity ratio: Shows the fair representation of employees from different genders.
Average employee tenure: Shows the average employment time of the employees in the company.
Absenteeism per month: Shows the percentage of absences during a month.
Employee count by rating: Shows the count of employees based on rating.
Employee count by salary range: Shows the count of employees based on salary.
The Workforce Performance dashboard lets you to track these key metrics. By tracking these metrics, employers can improve employees’ effectiveness, increase productivity, and reduce business costs by creating a better working environment, perhaps by offering more flexible working schedules.
Increase Employee Satisfaction and Reduce Churn Rates
Monitoring employee satisfaction levels and churn rates is important for companies to remain successful and competitive. Choosing the right applicants and retaining them a tedious guessing game for every HR team. Embedding an HR analytics dashboard in your application lets you monitor metrics that make these choices easier. Figure out what would make your company more appealing to the applicants you desire and remain appealing to your best employees, like more competitive salaries, a better work environment, or work-life balance support. Companies can increase their employee satisfaction level and reduce the employee churn rates.
Bold BI Embedded helps you integrate dashboards in your applications with popular frameworks seamlessly. It will help you save time and prevent you from repeating the same work. See Bold BI Embedded’s webpage to explore its features. To learn more about embedding dashboards in your application, refer to this blog and our help documentation.
I hope you now have a better understanding of how embedded analytics is going to benefit your HR department. To learn more about creating dashboards, please schedule a free 30-minute demo with our experts to discuss any features you would like to learn more about. If you have any questions on this blog, please feel free to post them in the following comment section. You can also contact us by submitting your questions through the Bold BI website or, if you already have an account, you can log in to submit your support question.