What Is HR Reporting?

Organizations all over the world use data to make better decisions whether you are a sales manager looking at the sales funnel analysis report to check the conversion rate at each level of the sales pipeline or a marketing head looking at the general marketing data to check how each marketing function are performing. Similarly to go beyond and provide a better work culture in the organization HR are relying on data to make better decision in terms of recruitment, how their organization’s policy work, optimizing the key performance metrics across the department, and identifying issues employee is facing in the organization.

In this article, we are going to talk about different HR reports that can help you in identifying issues, and how to use HR reports to plan for a better employee experience.

What is an HR Report?

HR Report is a specific document that is organized to present and analyze metrics related to Human resources. This report helps to identify problems related to recruitment, onboarding, employee performance, rewards and recognition, and so on. Numerous Human Resources Reports are employed frequently to address particular problems and provide new, improved solutions. For example, an employee performance report help analyzes data related to employee performance, highlight employee quarterly goals, goals achieved, review and rating from peers, and also provides individual feedback and more. These reports can be customized according to business needs and help provide data and information related to different management styles which help brings employees together.

What are the Types of HR reports for management?

Recruitment Report:

It is one of the most important reports for HR that helps make an informed decision related to recruitment. This report provides insight into how successful your current recruitment process is and provides areas to improve and speed up the process of recruiting the right talents for each position.

Some of the metrics to report in the recruitment reports are:

Number and/or percentage of open positions in your company for each level.
A number of employees joined this in comparison to the past year.
Time taken to fill in a role which includes time spent on the candidate during the interview process, the time period when the job offer is accepted, no of candidates rejected, and no of candidates who declined the offer.
The total cost of recruitment including the amount spends on internal and external agencies, job portals, and preparing a report on cost per hire will give you the exact amount spent on the hiring process.
Understanding which sources bring in the maximum candidate, which source has a better conversion rate, and analyse the talents pool and their patterns.

Performance Management Report:

Managing your employee performance is critical to the success of the organization. This report act as a comparison of how business results and employee performance compared to last year. These reports cover metrics related to employee goals, OKR, KPI, and other information which in turn help communicate the status and progress of a project and predict future results to the respective shareholders. Once more, you can base your actions on roles, departments, levels, and other factors. To determine how product marketing is performing in your company, for instance, you can track the performance of each product marketer. This report contains visual elements like graphs and tables to better present the data.

There are several types of performance management reports, like:

Employee performance reports showcase their achievement compared to previous reports like the targets achieved, impact made to the organization, and contribution to group projects.
Trend reports which an organization’s performance over time to check whether there is a positive or negative trend, these reports depend on the organization and are conducted semi-annually and annually.
Variance report: This report details the discrepancies between a project’s or performance’s anticipated and actual progress.
Status report: This report provides leaders with an overview of the current state of a project, including its budget, scope, time, costs, and end date.
Absenteeism rate: This statistic displays the typical proportion of time, or days, that employees missed over the past 12 months.

HR Administrative report:

Administrative reports are a useful tool for giving employers a broad view of their business. The key advantage of this report is that it enables one to assess and compare data across divisions, locations, and various cross-sections to obtain an in-depth understanding of the performance of the organization. Look at the following indicators when creating administrative reports:

Number of Employees currently on the payroll. You should constantly keep a precise tally of the number of full-time and part-time staff you have.
The number of full-time hours put in by one employee is referred to as an FTE. This system is used to translate the number of part-time worker hours into the number of full-time worker hours.
The number of Males to females in the organization is frequently assessed for diversity and equality reasons since keeping track of gender statistics makes it easier to identify pay disparities and resolve some difficulties with rising healthcare insurance costs.
The education level of the employee evaluates individuals’ general suitability for their current employment to some extent. It also aids in calculating the proportion of employees with graduate and four-year degrees in your company.
The number of employees leaving the organization voluntarily and involuntarily is also called as turnover rate.

Compensation report

This report helps organizations how much they are spending on their employee. While the finance team is in charge of the compensation payroll on the other hand is taken care of by the Human resource. These reports cover metrics like:

The compensation you are paying to your employees like salary, overtime pay, paid leaves, dedication, and reimbursement.
The cost incurred due to unscheduled absenteeism.
Another form of compensation like tax and money paid by the employer for Provident fund, commission, and other direct and indirect costs.

Time off Reports:

The number of people who fail to show up for work within a specific time period indicates the organization’s level of absenteeism. The HR manager can use it to determine the causes of an employee’s excessive absences, such as work discontent or management problems.

Onboarding and Offboarding reports:

Onboarding and offboarding have developed into critical HR metrics. Organizations now understand how important it is to maintain high rates of employee satisfaction and employee retention since doing so enhances the employer brand. Make sure you track the progress of your onboarding and offboarding procedures, conduct pertinent employee surveys to learn their opinions, and analyze the results using reports to improve both.

Some important metrics to monitor are onboarding comments, drop-off rates before onboarding, drop-off rates following 90 days, retention rates, hr analytics, training costs per employee, and ROI on each employee.

General Reports:

They are different reports that don’t come under the jurisdiction above reports. These reports vary from organization to organization for example diversity report certain organization conduct diversity reporting annually to collect information related to employee age, ethnicity, and gender which helps understand the functioning of the department for an organization that has an office in different countries which in turn help them make and develop hr policies and programs that serve their needs.

What is the importance of HR reporting?

Companies can utilize data to better understand themselves and their workers by tracking HR reports. The following are some advantages of HR reporting:

Every year, organizations create new objectives and projections, and as part of that planning, they must evaluate HR reports to make better strategies and come up with updated hr policies.
Data accessibility: When team members have access to data about your business, they become more knowledgeable and feel more a part of it, which is essential for increasing engagement and inclusivity.
Accountability: The HR function must communicate costs and any requirements for additional resources, just like the rest of the business.
Reports make it easier for you to spot crucial areas of spending, where you may decrease costs, etc., improving how well you manage the organization’s revenue and expenses.
Another significant way that hr reports can be of assistance is by assisting you in reducing or stopping a problem at its source or starting point. Every problem or error will eventually be found, but there is a significant cost associated with each one, so spotting them early can save you a lot of money.

Conclusion:

HR Reports can be detrimental to the success of the organization. An updated report can help you in assessing your business and make data-based decisions. This report can help you look into several factors that contribute to the success of the organization.