15Five, the performance management platform that drives business results, today announced the launch of its HR Outcomes Dashboard, giving HR leaders a way to easily measure, analyze, and act with confidence on the data that connects their performance management programs to business impact.
The HR Outcomes Dashboard captures an organization’s key talent data within the 15Five platform, then synthesizes that data into the three primary outcomes of most concern to both HR leaders and the c-suite: maximizing employee performance, reducing regrettable turnover, and increasing employee engagement. It also provides a new measure of manager effectiveness, a key driver in achieving those outcomes.
“HR leaders now have an obligation to build their business acumen in order to gain headcount for their teams, budget for their programs, and a seat at the leadership table,” said David Pearson, Senior Vice President of People & Culture at ExtensisHR and an early adopter of the dashboard. “With 15Five’s HR Outcomes Dashboard, I can easily bring actionable metrics to our leadership team that help us make better decisions, demonstrate the value of HR, and articulate how we’re impacting the bottom line.”
This addition to 15Five’s performance management platform comes at a moment when many HR leaders are being asked to demonstrate greater strategic value. The most recent Sapient Insights HR Systems Survey found that less than half (46%) of HR functions are viewed as strategic partners by the rest of the c-suite. Meanwhile, functions such as Finance and Supply Chain are seen as contributing strategic value by their organizations at a rate of 67% and 60% respectively, according to Sapient.
“Change management is a nearly insurmountable challenge for many HR leaders because they cannot procure executive buy-in for their programs,” said Jeff Smith, 15Five’s Head of Product. “Buy-in is not just about obtaining budget approvals but about a true partnership, where CEOs and COOs rally behind strategic performance management or manager development initiatives. We see the HR Outcomes Dashboard as a bridge between HR programs and business results so that not only will CFOs understand the business case and approve programs, but CEOs can shift the strategic vision of the organization and drive the adoption of critical HR programs. Only then can businesses change for the better.”
The dashboard solves the challenge of consolidating data across disparate sources to make connections and correlations that support strategic business decisions. It shows, for example, how a strategic manager enablement initiative like deploying manager training via 15Five’s Transform product directly impacts employee engagement and reduces regrettable turnover. This ultimately impacts the bottom line due to the high cost to replace top performers. Conversely, the dashboard provides metrics that can help uncover turnover risks, poor performance, and ineffective management before they negatively impact the organization.
“One of the greatest challenges and frustrations that HR leaders face is understanding where to focus their work to create value for the business,” said Kathi Enderes, global industry analyst and Senior Vice President Research at The Josh Bersin Company. “15Five’s new HR Outcomes Dashboard finally gives HR leaders a way to target actions while also quantifying impact in a way that hasn’t been done in the category before. It’s simple, well-designed, and adds tremendous value to the 15Five platform, bringing together engagement, retention, performance, and manager effectiveness in a visual way.”
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