Siddharth Rai4/21/2022HR reports are no longer a mean for only crucial hiring or workforce management, HR software now creates custom reports for HR data that play a crucial role in overall growth of the organization. HR reporting is the process to prepare business reports to provide HR solutions on talent management, performance management, time attendance, employee data, HR payroll, and others for HR analytics.
Human Resources reporting and analytics on areas like employee engagement and experience have gained importance in the past years. Decisions based on HR data may have massive impact on the success of your organization. Thus, it is important to make HR data based decisions to fuel data driven growth and add even more to your business. HR data reporting and analytics are an insight about your employees and business making an impact on them.
This necessarily means that you are empowered with HR data reporting and analytics to make faster and more strategic decisions to fuel the growth of your organization. It means the managers can create custom reports for performance management, workforce management, human capital, and employee data among others to bring out best of each employee. HR analytics also provide amicable solutions to HR payroll and talent management inspiring employees to take the growth of the organization even further. HR reporting and analytics also saves time, money and effort.
The professional human resources team knows that employees are carriers of the organization's growth and progress. HR data plays a vital role in creating employee data for this purpose. Apart from HR analytics, there are other reasons why HR software custom reports help grow your organization. These are-
- Hire Right People Faster
One of the main benefits of HR data is to create custom reports on applicant tracking. HR data provides information about previous hiring, spot beneficial qualities, and key personality traits for new hires.
- Predict Hiring Requirements
The core HR team is responsible to create custom reports to accurately predict future employment needs. HR analytics help in hiring qualified employees and saves time.
- Identify Turnover Trends
Employees leave the organization for three professional reasons, better benefits, higher pay, and promotional opportunities. HR software reports through people analytics identify the hardest working and drivers of growth and provide you HR analytics to retain them.
- Employee Performance Monitoring
HR data reporting and analytics provide insight into employee data in order to retain or pull up the team. It also allows you to adequately reward your hardworking employee, plays a crucial role with new employees and training, etc.
- Resolves Organization Issues
An organization faces many issues with employees and the human resources team reporting software acts as the sounding board for employees.
- Financial Services
HR payroll adequately compensates employee for work done for the organization. HR reporting software financial services boosts the morale of the employees and results in overall growth of the organization.
HR software reporting provides insight into many vital factors for an organization's growth. But most importantly this HR data reporting and analytics help establish a better workflow of the organization. Here is how HR reporting helps-
- Save time
HR team spends at least three hours per day on an average on manual process management which is unproductive. This time can be saved with the help of software and utilized in more productive areas of the organization.
- Increase Empathy
Eliminating busy work schedule through HR data reporting and analytics can increase empathy which impacts the overall growth directly.
- Lower expenses
On an average physical paper budget is organization's 15% of the revenue spend. Shared workflows with digital solutions prove to save organization's two-third of physical paper budget.
Human Resources
Poor time management may lead to missed deadlines, reduced client satisfaction, and an increase in overtime costs. This is where HR software reporting and analytics help in managing employees' time. Here is how-
- Plan and Set Goals
HR software sets daily, weekly and monthly goals with a timeline for their completion. It also breaks down the larger goals into smaller manageable assignments.
- Prioritize
HR software reporting and analytics set priorities based on urgency and importance and encourage employees to complete the task within the given time frame.
- Organize and Streamline
HR software reporting and analytics organize and streamline the work for the employees. It acts as a one place source of information for the employees.
- Dedicates Time for Less Pleasant Work
In case of any undesirable assignment for the employees, HR software reporting and analytics dedicates time for such less pleasant works for the employees.
- Manage Communications and Avoid Interruptions
HR software manages important communications when employees are on tight deadlines. Setting up voice mail and email to be checked at fixed time interval helps employees save time and avoid interruptions in the work.
A robust HR software payroll system's reporting and analytics not only help in workforce management but also gives a complete view of employee data. With HR metrics employees also have access to their records anytime. Better payroll processing benefits in-
- Improved Employee Experience
An integrated system for better human resources payroll processing gets more accurate employee data to deliver a better employee experience. Employees also have access to their records and payslips which gives them a better experience.
- Consolidated Reporting
HR software provides you with employee data at your fingertips for informed and better decision-making. Employees also have access to their employee data for their records.
- Better Compliance
HR software reporting and analytics enable better compliance with the law of the land. HR data and payroll data provide consolidated information on these laws.
- Streamlined Updates
A one-place database for employee data provides better updates in case an employee is on leave or any overtime record at the time of salary calculations.
HR software reporting and analytics may improve workplace communication drastically. However, it is important to use the tools correctly for communication to be effective. They are-
- New Tools
Employees and managers can communicate using the HR software from their own devices from any place convenient to them. It makes employees address the issues they may not have felt comfortable addressing at work.
- Self Service Workflows
HR software gives employees the option of making changes to personal information. It also allows the HR managers to respond to these requests in real-time with the app. It makes the process hassle-free and saves time.
- Removing Distance Barriers
HR software offers employees to address issues from multiple locations. It also helps in removing the language barrier for employees.
- Group Messaging
With one-on-one communication, group messaging may be helpful for certain categories of communication. This can be used to share announcements and information with employees.
- Video Communication
Video conferencing offers an in-person communication option for the employees. HR Managers can use this feature for communicating with employees working remotely.
It is the process of recruitment, onboarding, training, and appreciation for your employees that impacts the performance of your organization. Poor HR management may make your employees uncertain about their stay in the organization. In the process, as the headcount grows, employee management can become a daunting task. This is where HR software reporting helps manage employee activities.
Here are a few ways how HR software reporting manages employee activities-
- Performance management through goal setting, KRA, and target achievement
- Turnover represents how an employee is progressing towards the goal setting and performance
- Learning and development indicate how well an employee is adapting to the work
- Human resources payroll management make sure that employee is adequately compensated
- Time attendance helps in improving the punctuality of the employees
- Time management and leave management to ensure a smooth workforce in the organization
Time management is vital given that employees have limited time and that they want to make the most of it. Here are a few benefits of time management-
- Helps in achieving the goals faster
- Helps in prioritizing your work
- Allows you to do more in less time
- Helps reduce stress
- Prevents procrastination
- Boosts confidence and offers improved career opportunities
