Panther produces comprehensive reports on a beautiful graphical dashboard. These reports are essential for making informed business decisions. They provide critical information that enable you to identify areas to target for recruitment, business development, or other key factors that impact your performance. Panther runs reports on demand within a given timeframe, or you can auto-schedule reports to be sent to stakeholders. This blog will highlight 4 reports that provide valuable insight into your business’ financial and operational health and guide decision making.
1. GP & Charge Breakdown
Arguably the most important report featured on Panther’s Dashboard is the GP and Charge Breakdown. Essentially, this report informs you how much money you are making or are going to make from the shifts that are being booked. The dashboard displays your GP margin very clearly in the top corner as a percentage. Not only does it show your previous GP and Charge Breakdown, but it allows you to see what your GP is forecast to be in the following weeks based on the shifts you have created and booked. Calculating GP is not a ground-breaking concept, however, the speed and ease at which Panther calculates it is what sets it apart from competitors.
2. Missed Opportunity Cost
In order to ensure you are growing and utilising all resources available to you, you need to be aware of downfalls and potential weaknesses. When you are not filling all the shifts on your booking sheet, it means that you are missing out on the potential to produce even higher revenue. The missed opportunity cost report shows the potential revenue and GP that has been lost by not filling shifts. When users are unable to fill a shift, they are asked to give a reason for this, such as ‘filled by competitor’ or ‘unable to supply’. A summary of this is displayed on the dashboard, giving you key information on why you are missing out on this GP. This helps you to address your shortcomings; perhaps you need to recruit more workers in a specific area or react more quickly to client requirements.
3. Candidate Retention Rates
Without software like Panther, measuring candidate retention rates can be a challenge. However, this is a vital KPI that recruiters should be monitoring. By tracking your retention rates, you can clearly see how many workers are leaving your agency and begin to take action to reduce this. It’s a well-known fact that it is cheaper to keep current workers on your books than it is to recruit new ones, so this may help you to reduce your spend on candidate attraction. It will also inform you on the effectiveness of your candidate engagement strategy and track changes over time. As it’s now easy to identify workers that haven’t worked for a longer period of time, you can target them with communications aimed at getting them booked in for shifts before they leave for another agency or placement.
Although this is not a report in itself, by using the filtering options at the top of the dashboard, you can drilldown and view all reports and statistics by client, contract, specialism, branch, user, and more. Not only does this allow you to view all the information in a much more organised manner, but it also means that you can compare and identify specific areas of strength and weaknesses. Filtering your reports may highlight a number of issues that need to be fixed, for example, if you have multiple branches and one has a much higher GP margin than another, you can investigate this and ensure every aspect of your business is thriving. Or, if your fill rates are much higher for one specialism than for another, you know where you need to prioritise with your recruitment to ensure you have enough workers to fill your requirements.
While much of the information shown in the dashboard has always been tracked by businesses, Panther makes this process far simpler. KPIs are more visible and easier to understand for you staff, so they can take action to increase their performance.
Panther features many more reports on its dashboard that are just as useful and impressive as the ones mentioned above. We are always adapting and adding new reports and features. We do all this with our clients the forefront of our minds, and we always aim to ensure that we making the lives of consultants as easy as possible.
Want to run your own reports in your own format? That’s not a problem. With our data export, you can access all the data contained in the dashboard and add it into your own analysis software, such as Power BI.
If you want to learn more about the financial and operational reports featured in Panther, get in touch with us today. We can either send you some more information, or arrange a time to have a quick run through the software and answer any questions you might have.