HR Reporting Software

A payroll report pulls together essential metrics about your workforce that your HR software tracks. Managers can use this data to identify business trends and make informed decisions that impact an organization’s success and employees.

Many data points are tracked and measured in HR reporting and payroll reports. This information includes:

• Accrual balances
• Benefit enrollments
• Assets like computers and phones
• New hires
• Employee headcount
• Absenteeism
• OSHA
• Turnover
• Labor Expenses

When employers have easy access to this information, they better understand the allocation of time and resources. From there, leaders can make decisions around strategies, projections, and goals. HR reporting provides visibility into critical metrics that businesses can use to create a better company culture and provide employees with the necessary support.

HR analytics is the tracking and reporting of data points associated with an organization’s workforce. These data points are then used to gather insights and make more informed decisions that improve the employee experience and align with an organization’s goals.

Common HR analytics data points include:

• Employee demographics
• Payroll information
• Performance data
• Engagement information

Without HR analytics, businesses are flying blind. They do not have visibility into what processes are or are not working in their organizations. Employers can use HR analytics to view essential information, including:

• Turnover rates
• Labor expenses
• Cost per hire

Since there can be a large amount of data associated with a company’s workforce, decision-makers need to meet and determine what information is the most vital to track and review. This way, HR analytics is more meaningful and can be leveraged in the decision-making process.

An HR dashboard aggregates different data points into a visual representation of metrics. HR dashboards are beneficial because they allow managers to view analytics quickly and identify insights without heavy lifting. The types of dashboards HR managers can use include:

• View analytics and metrics in payroll, including potential payroll and W-2 errors, for more proactive management of processes.
• Managers can see new hires awaiting approval so they can complete tasks more efficiently.
• Receive Affordable Care Act alerts about employees in the initial measurement period or not being eligible for coverage.
• Performance reviews that require review or are overdue to ensure a timely process.

HR dashboards are typically interactive, allowing users to click into datasets for a more granular metrics view. This intuitiveness is especially useful if a manager wants to view a particular timeframe or compare timeframes such as year over year.

The insights gained from using HR dashboards make it easier for managers to make decisions that will improve recruitment, employee performance, and create a better overall workforce experience. Managers can use HR dashboards to monitor key performance indicators in their business and meet goals.

Managers can also use HR dashboards to identify potentially harmful trends and take more proactive steps to improve. For example, let’s say a manager notices that turnover rates are increasing month over month. They can look at other business areas such as employee productivity, recruitment, and compensation packages to determine what factors contribute to this trend. The manager identified the trend and chose a plan of action to course correct.