- HR performance management
HR reports: how to get started with HR analytics
HR analytics is a data-driven technique used to report and analyse HR data. These data analytics can have a major impact on a company's strategic decision making.
Some examples of the type of the data collected are:
- Turnover rate
- Performance appraisal data
- Absenteeism rate
- Human capital risk
- Overtime rate
HR analytics enable HR to study their employees with the data collected, so that they can manage and maintain their employee base. Using an online HR software is a great way to make this happen. Consider the points below so you can learn more about HR reports and use them effectively.
Using analytics in your HR reports
When you want to do right by your business, it'll take getting an understanding of HR reports. Here are a number of HR reports you can focus on:
1. Absence records
It's your responsibility to track your employee's time off. However, don't make the mistake that many employers make when looking at HR reports, of only trying to catch employees taking excessive time off.
Instead, your responsibility as a manager is to ensure that your employees are taking enough time off. According to a Metlife's employee benefit trends study, 72 % of employees say that they would like unlimited time off as a benefit.
There's a tenuous line with this since you obviously don't want your employees abusing time off.
Including absence on your HR reports provides an answer for this because you'll have a clear log when you keep track of employees' absenteeism levels. Employees can take sick days and days off as needed and log them into the absence management software.
If you have employees that are starting to report themselves sick around major sporting events, or who constantly fail to produce a doctor's note, you will be able to go back to the data to try to confirm your suspicion. Having access to this data on HR reports brings balance.
2. Excessive overtime
You definitely want to be mindful not to overwork your employees. Just as too little time off affects the work-life balance of your employees, so too does too much overtime.
Everyone likes the perks of extra pay, but medical experts are stressing that people who work too much overtime are more prone to high blood pressure, mental health issues, back injuries, excessive drinking and more.
A lot of companies use time and attendance software to keep track of how employees are logging their days. Definitely take a look at the overtime levels in your HR reports.
3. Employee data
Your organisation has a responsibility to close diversity gaps whenever possible. This is not only a social responsibility, but it's also a necessity to keep your company viable and well-rounded.
The more diversity in the workplace you have, the more successful and knowledgeable your entire operation will be.
Diversity remains a concern for a lot of companies. If you'd like to see where you stand, HR reports can help you to see your internal numbers regarding age, gender, nationality and positions.
The more you know about the diversity and demographics of your workplace, the more you'll be able to communicate this in your branding and interactions with your customers.
You've got to give your employees their flowers while they can smell them. If someone has been serving the company with dedication for years, you should let them know you appreciate them.
Rewarding employees for their commitment is only possible when you're aware of their track record.
Using HR reports will better help you celebrate work anniversaries, and you'll create and develop a culture of recognition. These are the sorts of things that employees appreciate. It re-engages them and helps to increase retention.
It's definitely important to keep track of birthday data for all your employees. This not only lets you know when a birthday is approaching but the celebration makes your employees feel valued.
This is a special day, and whether they choose to spend it in the office or outside of work, make sure that you acknowledge them and show them that you care. Your company will have tremendous morale and you'll increase employee retention.
6. Hires and headcount
HR reports are essential to help you find out whether or not your company is actually growing. The best way to find this out is to keep an eye on both your new hire and existing employee numbers.
Numbers on your current headcount will let you know if your company is growing or shrinking. High employee turnover is always a key indicator.
When you have access to these employee headcounts, you will get the chance to see how your company has evolved over the years.
Don't underestimate the power of HR reports
As you can see, your HR department can get a lot out of the amount of data provided by HR reports when they're used correctly. HR metrics can help you to:
- Make better decisions with quality data
- Increase employee engagement
- Inspect the effectiveness of previous interventions
- Enrich the employee experience and staff retention
- Improve the organisation's planning in the long term
Implementing an effective HR analytics strategy is always the first step, and once you set out in earnest, HR reports will let you close equal pay or diversity gaps and weak spots in your organisation.
The earlier you catch these sorts of weaknesses, the sooner you will be able to minimise damage and make it so that your company keeps running smoothly. It all starts by getting your hands on the HR reports that will be helpful to you.
Manage your human resources
When HR leaders are looking into HR reports, these are the analytics points that they need to know about. Regardless of what sort of company you run, HR reports will help you take your HR systems to the next level. Reach out to learn more about the HR software solutions we offer.
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