CONDUIT

Keys to building dashboards

So, what are the keys to building dashboards that’s useful? Developing a performance dashboard is not as difficult as one might think as long as you follow some simple guidelines.

1. Don’t just track measures that you care about; collect data that influences (directly and indirectly) your business case. 

2. Provide a frame of reference. Use charts and other illustrations to compare measures to a benchmark or standard.

3. Make it visually compelling. Remember other stakeholders will want to access and use the tool. Incorporate bright colors and symmetrical shapes in the dashboard design. The goal is to ease the interpretation of complex data even for the first time user.

4. Tell a story. Create comparison that pinpoint trends and identify performance improvement opportunities. 

How can you make the data more actionable? Consider the establishment of “sector managers”. These managers on your team hold clear responsibility for any one metric or a cluster of measures. This will ensure action by creating performance accountability. While it’s not practical to suggest that each manager owns the outcome for any measure, it is worthwhile to charge them with tracking trends and issues and make each responsible for identifying isolated events that may impact the larger business case. 

There is no question that responsibility for reward programs is migrating from some of the more traditional disciplines (like sales and product marketing) to HR or some other focal point within the enterprise. Why? For starters, non-cash is becoming an increasingly important component of The Total Rewards formula. Sarbanes Oxley and good corporate management are other factors. Financial executives are demanding proof of the business case before authorizing funds and better control and management of the investment along the way.

Not only is this increased scrutiny good for shareholders it also signals opportunity for HR executives looking to get a better seat at the planning table. Aided by data dashboards, HR has a tool that can help strengthen its position as a strategic leader within the organization.  Dashboards provide a better view of trends and allow planners to track performance against the original business case monitoring ROI more meaningfully. HR can spot, sometimes anticipate, sales or operational misalignment before the program investment gets seriously off track. HR is now in a better position to make proactive suggestions to C-level colleagues on where and how to modify program emphasis and/or funding.

The sheer amount and velocity of change we all deal with can be overwhelming.  In our fast-paced world a data dashboard’s real value is not limited to program management. Used properly dashboards can be part crystal ball as well.   

Data Dashboards ease the load

In an effort to gain better cost efficiencies, motivational impact, and branding consistency; many organizations are consolidating reward planning and/or administration through a single corporate entity. Often that responsibility lands some where in the HR suite begging the question; How much more can HR executives fit on their plates? Combine that with the simultaneous expansion in other systems (recruitment, development etc) how is this group dealing with the additional workload?

The answer lies in the old axiom, ‘presentation is everything’. Today we see firms developing and using data dashboards to help display visual patterns in real time and formulating data sets in a more manageable and actionable manner.

Using dashboards, busy execs can keep an eye on the corporation’s reward & recognition investment. From 10,000 feet they can monitor program vital signs. Through a series of clicks they can drill down thru the hierarchy (business unit, division, region, location and individual). Global to granular navigation makes the access to data effortless and the management of information easier.