HR Reporting
& Analytics Software

For most businesses, employee compensation is one of the biggest variable expenses and most important HR metrics to track.

• Total Compensation includes benefits, salaries, and bonuses.
• Salary Averages allow you to look beyond the extremes of entry-level wages and upper management salaries.
• Pay Equity judges the relative compensation of employees in similar roles, particularly where implicit biases may lead to one employee being relatively underpaid.

Learn more about Everything You Ever Wanted to Know About Payroll

Total labor cost is the aggregate cost of the hours worked by all employees, plus all related payroll taxes and benefits costs. Total labor cost is an HR metric needed for budgeting of a business.

• Total Cost Of Workforce (TCOW) includes employee compensation (pay and benefits), plus related expenses like facilities and overhead.
• Headcount is the total number of workers in different categories. Contractors, exempt employees, and part-time workers are counted separately from full-time workers.

Read more about 10 Ways HR Technology Helps Manage Labor Cost More Effectively

Employee hours have a major impact on payroll and productivity. Timekeeping software provides up-to-the-minute recordkeeping automatically. Track all workers and different types of work with a single, streamlined solution with Time and Attendance software that works directly with payroll.

• Effectively manage Tardiness and Absenteeism. Late arrivals and unscheduled absences can be disruptive.
• Overtime Hours, usually anything beyond 40 hr/wk quickly. Excessive overtime leads to employee burnout and suggests a need for additional staff.
• Leave Management is a system for scheduling employees and keeping the company running efficiently throughout various absences and scheduling issues.

Discover more about The Benefits of Time and Attendance Software

Beyond the hassle of recruiting and interviewing new workers, it’s important to track the HR metrics association with losing and replacing employees. When HR wants to invest in company culture and morale, it helps to remind the C-suite about the potential savings in turnover cost.

• Turnover Cost includes the lost revenue because of vacancies, cost per hire, and training pay.
• Internal Promotion Rate shows how often you’re making use of existing talent and rewarding loyal workers. If current employees are underqualified, then a Learning Management System can prepare your staff for future openings.

Some level of turnover is inevitable. The recruiting, selection, and onboarding process should be efficient and cost-effective—and can be with the right recruiting software and HR metrics.

• Track Cost Per Hire to see whether you’re overspending on job boards and advertising.
• An extended Time To Hire can lead to understaffing and unnecessary lost revenue. If you’re slow to respond to job applicants, then the most qualified workers may accept jobs elsewhere.
• Your Hire Success Rate tracks how many new hires become successful employees. What percentage complete the onboarding process and how many reach their first employment anniversary?

A wider range of perspectives can help your business avoid blind spots. Promote diversity with a Learning Management System that closes skill gaps and offers training to everyone.

• Track Diversity Ratios to make sure you’re recruiting and promoting workers from different races, genders, ages, and other demographics.
• Equity is about granting equal access and fairness to everyone, overcoming systemic and unconscious biases.
• Inclusion goes beyond the mere presence of a diverse workforce, making sure that your company culture is welcoming to everyone.

When identifying problems in your company culture, you don’t want to wait for complaints. Get proactive with employee sursveys and quantifiable HR metrics for employee engagement.

• What is your Employee Participation for social events and voluntary training programs?
• Do you have a Workplace Giving Program that reflects the values and priorities of your employees?
• Track the number of Complaints and Incident Reports from month to month, identifying trends and setting goals for improvement.
• Employee Self-Evaluations are used to rate their own experience and satisfaction as part of a routine review process, as well as track changes over time.

Benefits Administration Software makes it easy to improve efficiency and provide better value for workers. Employees need options for the benefits they prefer, and your company needs accuracy, efficiency, and compliance across the board.

• What is the Total Benefits Cost for your current benefits program and vendors?
• Track your Cost Per Employee for benefits to see when it’s time to shop around for alternatives.
• Usage Rates will confirm what percentage of employees take advantage of different benefits. Consider adding new and emerging perks like student loan reimbursement to improve recruiting and retention. Are new perks more popular than your older benefits?

It’s not enough to simply keep moving the goalposts for workers. Establish a performance-based workplace culture by investing as a long term goal for optimization through HR technology.

• Use HR software to track Employee Productivity in terms of both quality and quantity. Increasing the output and number of employee hours may lead to unintended consequences like preventable mistakes and complaints from customers.
• Discover Training or Process Deficiencies and other areas of improvement by department or company-wide.

How do you keep your best workers engaged and better prepare others to succeed in their careers?

• Standardize L&D Process and Scoring to easier address performance issues and measure improvements over time.
• Provide ongoing Professional Development, closing skill gaps and opening new career paths. Make it a part of performance reviews by evaluating trainees before and after programs.
• Cross Train Employees to improve teamwork, employee skill sets, agility, and resilience.