Performance management platform 15Five launched its HR Outcomes Dashboard, which aims to provide a way to measure, analyze and act on data that connects performance management programs to business impact.
The dashboard captures key talent data and synthesizes it into three primary outcomes of most concern to both HR and executives: employee performance, engagement and turnover. The company said it also provides a “new measure” of manager effectiveness, which it believes is the driver of business outcomes.
In addition, the product will solve the challenge of consolidating data across disparate sources to make connections and correlations that support strategic business decisions, 15Five said. “Conversely, the dashboard provides metrics that can help uncover turnover risks, poor performance and ineffective management before they negatively impact the organization.”
Driving the Business
15Five believes the new dashboard will be important because “HR leaders are being asked to demonstrate greater strategic value.” In fact, less than half – around 46% – of HR functions are viewed as strategic partners by the rest of the C-suite, according to Sapient Insights.
“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. “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.”
In December, 15Five received a “strategic investment” from ServiceNow, adding to the $52 million Series C round the company announced in July 2022. The companies said the new funding was meant to accelerate 15Five’s ongoing product development, including both its performance management platform and integrated manager training and coaching tools.