How is HR furthering the business? Reports are the answer. They give comprehensive insights into the data you control and let you compare different data points to reveal (probable) reasons behind successes and failures of the past. They also help you plan for the future, and they double-check your processes to ensure everything is in order.
If you, being an HR are not using reports, we have a bone to pick with you. Finally, you have subdued the wildfire into a bonfire, but here’s the thing,
Data is useless if all you do is organize it.
The next step is to start thinking and acting like a business. You might be clueless about how to use the data that you have organized, to streamline processes and increase productivity, and prove value to your organization.
When you are questioned about the metrics you’re using to measure success, they are actually asking whether you’ve compared past recorded numbers to the present or not. And, when people question – as they do – whether HR is valuable beyond its legal necessity, reports prove how HR affects the bottom line as much as any other department.
What are the reports that you should be pulling?
Different types of data analyses are called upon in different situations, however, there are a few which are constant across the board that provide near-universal “bang-for-the buck”. Listed are a few types of reports we feel will give immediate comprehensive insights that can be used to make informed business decisions.
Many businesses view turnover reports as a simple percentage offering a bit more than an idea of whether people enjoy working or not. Every company experiences it, and, it isn’t wrong if all you look at are voluntary departures. However, look deeper, and, you’ll discover one of the best to analyze performance, and also find ways to improve workforce planning. Classification by department, age, reason for leaving, length of employment etc. will reflect all various different factors affecting your workforce and in turn, your goals. For example, a high initial turnover might point toward a problem with onboarding or new-employee engagement. Lowering it can significantly reduce costs related to recruiting and training.
Applicant Sourcing Reports
If you are using an applicant tracking system, chances are you’re also posting openings to a myriad of websites, job boards, social media outlets. An Applicant Sourcing report can show you where, when and also how you’re getting the best results, which departments are attracting candidates from which channels, and where your recruiters might need to improve. By optimizing your job postings, you’ll attract more and better candidates, fill positions faster, and get the jump on your competition in the marketplace.
Employee Performance Reports
The next step after you’re done with employee performance reviews is to analyze the results. A good employee performance report will give you detailed insights into where efforts are flagging and which teams and members stand out in the star category. The report should be well-designed, allowing you to compare views across departments and time, as well as drill down deeper into individual performance. By examining the reports, you will get a clearer idea of which departments and individuals might need extra attention and where you can take cues from, to, help the business achieve it’s best.
Company Performance Reports
The most important lesson in performance management is the value of two-way and 360-degree feedback. It is equally important to analyze your company’s performance from the perspective of the employees as is vice versa. A company performance report works in tandem with Employee performance report adding an extra layer of insight into both successes and failures Culturally. For instance, if a particular star department is feeling highly valued while the others aren’t, that could be a clear indication of management deficiency. If the inverse is true, you may risk losing great talent while the slackers keep getting praised for slacking.
For a class of report that just makes your job easier, look no further than Employee Reports. Filling out employee information forms is onerous enough without the endless hassle of investigating individual employees and stressing over the accuracy of the information you’re submitting. An employee report that provides benefits history helps you determine employees’ eligibility, which is critical to filling out Part II of the 1095-C. Meanwhile, a report that covers employee status for the whole company gives you an accurate way to double-check your information in Part III of the same form.
There are dozens of reports available to HR that can simplify, enhance, or offer deeper understanding at every level of an organization, from the big picture all the way down to individual employees. This is by no means an exhaustive list; it’s meant only as an eye-opener to the power of reporting and to dispel the reputation of reports as useful once per year in a presentation to your executive team.
HR spends a lot of time gathering data, but much less time putting it to work on its behalf. It’s time to even the scales.