What’s so important about HR analytics and HR reporting? Like everything HR-related, it’s all about people. The most important ingredient in your company’s success is the people who work there, and analytics can help you empower workers while improving overall efficiency. Combine diverse sets of data to produce insights for better supporting employees as well as their productivity.
Discover how HR analytics help Human Resource Management, as well as how HR technology makes HR reporting easier.
Improving Human Resource Management with HR reporting & analytics
Analytics provide clarity by processing numbers in context. A dozen different problems might contribute to decreased productivity, but you can’t respond appropriately if you don’t know the root causes. Get a 360 perspective with Key Performance Indicators (KPI’s) tracked alongside relevant variables. Here are just some of the improvements possible with accurate HR analytics:
Make better business decisions
Too many management decisions are reactionary instead of forward-thinking. With analytics, you can optimize performance and workplace culture without waiting for a huge crisis or pattern of incidents.
HR analytics allow you to track the incremental impact of interventions and other variables on tardiness and other perennial issues. Use predictive and prescriptive analytics to project the most likely outcomes of different policy changes.
Develop a data-driven approach to HR
For quite a while, “operational” and “strategic” HR have been the two dominant approaches to human resources work. Operational HR focuses on the practicalities of daily HR tasks, from onboarding new employees to benefits administration.
Strategic Human Resources Management has become popular in recent decades for its future-oriented approach to improving policies. With the help of a full suite of HR technology, today’s data-driven HR provides a clearer direction for decision-making. Up-to-the-minute data management software handles daily operational tasks and facilitates long term planning.
Not so long ago, strategic HR depended on one-size-fits-all recommendations for “best practices” and relied on the gut instinct of managers to intuitively detect the underlying causes of problems. With data-driven human resources, your team can get a more detailed picture of trends at your company. The routine data collection of interconnected HR software can also identify pressing issues like encroaching paperwork deadlines.
Align HR Goals with overall business goals
The HR team isn’t quite like other departments. Things like benefits administration, onboarding and offboarding, and ensuring compliance can make the HR role feel detached from the primary purpose of the company. With the right software and HR reporting, you can stay focused on the big picture.
Instead of just tracking employee hours for payroll, you can integrate that data with productivity and other relevant KPI’s. HR already collects a lot of useful data in daily operations, but it’s hard to crunch all the right numbers without HR analytics and proper HR reporting.
Trying to convince upper management to invest in company culture? Proper HR reporting allows you to make your case (and judge success) with changes in productivity, engagement, and turnover. Analytics give you a more detailed understanding of the relative cost and benefits of different policies. Instead of relying on employee preferences, you can argue for changes on the basis of efficiency and potential savings.
Improve various HR processes
Analytics provides useful insights for standard HR processes. Assess your current recruiting program by comparing the time to fill a position and the relative quality of applications from different job boards. How long does it take for a new applicant to be interviewed, and how long does the onboarding process usually take?
Software for HR analytics allows you to collect relevant data automatically, making it easy to test and compare different solutions, while customizable HR reporting
READ: HR Analytics: What do Data & Reporting Mean for Human Resources?
Simplify HR reporting & analytics with HR software
Comprehensive HR reporting and analytics get dramatically easier with HR software. Get reliable solutions for reporting and analytics with real time updates and custom organization.
Accurate and up-to-date data
Manage analytics with compatible software, and you won’t have to manually transfer data. Without integration, data entry is a slow process that creates needless opportunities for human error. Use HR software to get more reliable results without the headache.
Quicker and easier data pulls
Without automation, you may need hours or days to process data, meaning that the results are already growing stale by the time HR reporting is ready. Meeting rescheduled? HR software makes it easy to pull an updated report without starting from scratch.
Better segmentation and customization
Make HR reporting work better for you. Divide up your data with categories that make sense for your business. Insert custom labels and separate benefits data from payroll and other segments. Save custom formats to easily reproduce the same style of report.
Safe and secure
HR data security is essential for protecting employees as well as company data. Unsecured email attachments and raw data spreadsheets are slow and vulnerable. When it comes to HR reporting, don’t play fast and loose with data that might include the personal data of employees and clients.
Simple sharing and distribution
Automatic reports can be exported into common formats like PDF and Excel. Graphics and dropdown menus allow for added convenience and clarity. Send HR reports directly to stakeholder emails or format for printing hard copies.
HR technology does more than simplify HR reporting. It makes the whole process of analysis and reporting more efficient and accurate. Talk to the team at Netchex to learn more.
Learn more about how Netchex makes HR reporting easier:
Learn more about our HR Reporting & Analytics software. Netchex makes collecting, analyzing, and reporting on HR data easy, straightforward, and worry-free.
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