Posted by Trakstar • August 10, 2022 (Last modified November 29, 2022) • 2 min read
HR Software Developer launches the new feature within their Insights Dashboard, allowing HR leaders and C-Suites to compare their performance rates and retention against similar companies.
Trakstar, the SaaS-based employee engagement and performance management company, announced that it has launched Perform Benchmarking for Trakstar Insights, a new dashboard within the Trakstar Perform product. Customers will now have access to better information and metrics surrounding their performance rates in comparison to Industry and Company-Size peers.
With decades of proprietary data combined with third-party data enrichment, Trakstar Insights benchmarks HR operations to help HR leaders and organizations of all sizes build teams across key metrics such as speed-to-hire, employee retention, and coursework design. Benchmarking uses aggregated data to place companies directly against their competitors.
Rebecca Kling, Senior Product Manager of Insights, explains what Trakstar Customers see: “We are benchmarking your organization’s retention rates across two different peer groups: industry and company size. You will be able to see how your retention rates compare over time, across performance groups, and across employee tenure groups. We will also give you insights into how to maintain positive trends or address areas for improvement.
In addition to metrics, customers will now receive tips to improve their scores or keep them at high levels based on historical data and current standing. Trakstar Perform measures performance scores, employee engagement, and retention. Within Insights, customers have links to content for best practices using the Trakstar platform, HR techniques, and more.
Benchmarking for Perform helps HR leaders make better decisions about the single most important aspect of any business, its people, in a way that removes emotions, paving the way for intelligent, impactful choices. It equips HR leaders with the reports and visualizations they need to show their impact: “Based on your recent trends, the analysis gives you the key talking points to accompany the dashboard visuals, and offers guided recommendations on what to do next,” explains Brian Kasen, Director of Business Intelligence. He explains one use-case: “HR leaders will be able to measure your quarterly retention trends, compared to your industry, and then what action is required.”
Trakstar’s talent management platform, including Hire, Learn, Perform, and Insights, delivers purpose-built solutions for attracting, retaining, and engaging the best people while providing deeper analytics to help HR leaders manage their workforces.
For over 20 years, Trakstar has helped over 3,000 clients, including Forbes, PepsiCo, Guitar Center, Sharp, Dole, State Farm, Gorilla Logic, and more. Trakstar believes people are happier and healthier when they know their work matters.