XCD has created a bank of resources, articles and downloadable insights to help HR professionals realise the potential of their people and people data. Below, you will find information on how to build your HR Reporting and Analytics from the ground-up, using HR software to inform data-driven strategic decisions.
Laying the Foundations of Effective HR Reports and Analytics
Reporting and analytics are HR processes which can transform an organisation's ability to identify areas of improvement, create data-driven strategies and implement operational changes. Your employees are your biggest asset, so it is crucial that your Human Resources department understands how to gain actionable insights from HR reports.
Though HR reports and HR analytics are often conflated, the two processes have key distinctions which HR should understand.
Human Resources can use three steps to improve their HR analytics capabilities, using employee data to identify HR objectives and turning those data analytics into answers for employers.
HR software can provide the information your HR department needs to create data-driven strategic plans to improve day-to-day HR processes such as performance management and recruitment.
Which metrics should HR be monitoring to maximise efficiency in your workforce and business operations? Find insights on which metrics matter.
The Power of People Analytics
People analytics (also known as workforce analytics) is a key sub-section of HR analytics which is directly related to employee data. People analytics are the metrics which directly impact your people, workforce operations and help HR to improve productivity and efficiency in the organisation.
People analytics metrics are closely tied to different HR processes, for example, turnover rate is directly linked to recruitment needs, so utilising people analytics is a powerful skill for Human Resources to inform strategies, budgets and forecasts.
XCD shows the 6 People Analytics metrics which you should keep an eye on, including performance and employee satisfaction (eNPS). These biometrics allow HR to improve employee engagement and efficiency in an organization.
XCD show how people data on employee retention and turnover from HR reports can provide insights on how to retain talent in your workforce. Data can fuel effective strategies to improve recruitment, onboarding and employee retention.
Don't know where to start with employee data and people analytics?
Download our resource: Kickstart Your People Analytics
Why Should Human Resources Teams Use HR Software?
HR software, whether you opt for a Human Resources Information System (HRIS) or a Human Resources Management System (HRMS) are invaluable tools for reporting and HR analytics, particularly with employee self-service functionalities. These HR systems can automate the collation of employee data into reports, saving hours of manual admin time and eliminating human error.
Manual data handling is becoming an increasingly outdated practice for HR teams. Discover the benefits of automated HR software technology for reporting and HR analytics, and how software really is a HR solution!
XCD have provided an example of how HR software can be used to create custom reporting dashboards for business issues, in this case a company-wide response to COVID.
XCD's cloud-based HR and Payroll Software solution can enable HR managers and professionals to boost their reporting and analytics capabilities.
XCD is a comprehensive, end-to-end Payroll and HR system which can elevate your HR team's capabilities, not only for HR reports and HR analytics but for tracking the success of strategies and employee performance. XCD is a cloud-based HR platform which benefits from intuitive self-service functionalities, enabling employees to input their own data to inform HR reports.
The value of HR data cannot be understated. Download our resource on the challenges and opportunities which face HR professionals using HR data to inform their strategies and decision-making.