When monthly, quarterly and annual reporting time rolls around we're sure that you get that same Christmas-eve type of excitement that we do.
Okay... maybe it's actually more like a growing sense of dread at the thought of having to compile seemingly endless metrics, spreadsheets and reports to glean insights that you can then present to C-suite in a shiny spreadsheet or dashboard.
Proving the value of HR when reporting to management is the easiest way for Human Resources to gain the buy-in needed to implement strategies, improve the efficiency of an organisation, and make the most impact. But proving the value of HR to leadership teams can be difficult when we're speaking in a different language to management and getting hung up on metrics over money.
What are the best ways to prove the value of HR and HR's role in an organisation through reporting?
Important definitions: what do we mean by HR reporting?
HR reporting is the final step in the HR reporting and analytics process. Taking HR reports, data and analysis, HR reporting is the process of presenting analytics as effectively as possible. Effective HR reporting ensures that the value in HR data does not get overlooked by leadership, and that business decisions can be founded and shaped by the people data that is unique to your organisation.
Successful reporting is far more than just pretty dashboards and snappy presentations. Grounded in accurate HR reports and intuitive analytics, HR reporting enables HR leaders to implement changes that maximise the impact of employee data and minimise bottom line costs.
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Utilising employee data
HR teams have access to a wealth of employee data, and this data is collected continually in your HR software every day. But what is the value of this information if it doesn't serve a purpose?
With the bank of workforce data at HR's fingertips, it's important to present the most important data and metrics to ensure those in the boardroom don't switch off. Think: what are the most important HR metrics for the key decision makers in your organisation? Utilise employee data effectively by showing the progress of the metrics that matter to the people in the room, not the HR department.
Effective HR reporting includes aligning HR KPIs with wider business KPIs. In short: how can HR reduce bottom line costs? No one is better placed in an organisation than Human Resources to evaluate the efficiency, productivity and engagement of the workforce. When HR identifies problem areas within a business through insights gleaned from data, it proves value.
For example, if a HR manager reports that employees are generally less productive in the summer months, and backs this with employee data, it instantly shows the value of HR at executive level. Using employee data in a way that makes sense to everyone in the boardroom ensures that your reports do not go unheard.
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Making HR analytics easier to understand
Continuing from the last point, reporting essentially acts as a translation for Human Resources to other departments in an organisation. Representing complex HR data in a way that's easy for everyone to understand and interpret enables HR to maximise their impact. Fortunately, dashboards are a brilliant HR reporting tool which make HR analytics clear and digestible.
Dashboards aren't the be-all-and-end-all of reporting, but they are a valuable resource for both HR teams and leadership. The terms HR analytics, data analytics, data analysis and people analytics are used interchangeably by most outside of HR roles. The first hurdle to make HR analytics easier to understand is to make it clear which type of analytics you're discussing. Using reporting dashboards makes this element of reporting easier, as you have a clear visual prompt to indicate whether you're discussing general HR analytics, or drilling down into specific people analytics like turnover, retention or employee satisfaction.
HR reporting software like XCD makes it simple to generate clear HR reports on the most important HR metrics instantly, using a full suite of customisable reporting templates. XCD HR reporting software even has customisable executive-level reports built in. If the 150 ready-made templates don't suit your needs, you can even build your reporting dashboard from scratch. This ensures that the dashboards you present are as specific as possible to demystify analytics for everyone in the room, demonstrate the transparency of HR in your organisation and encourage leadership buy-in.
Utilise predictive HR analytics to glimpse into the future
Providing insights into the present state of affairs in your organisation is crucial, but offering data-based projections into the future needs of the business can boost the value of Human Resources in a company, especially in the eyes of C-suite.
HR software platforms with advanced reporting capabilities, like XCD, can integrate projections into HR reports. HR analytics and business projections are usually based on intuition and expertise from HR teams and leadership, but advanced HR software can bolster these projections using machine learning.
The predictive HR analytics function in the XCD HR and payroll software, Einstein Analytics from Salesforce, utilises the cutting edge technology and investment from the world's biggest CRM software. XCD's human resource reporting gives HR the power to confidently predict upcoming problem areas in your business, future recruitment needs, and growth opportunities. Software with predictive capabilities acts like a toolkit for Human Resources to prove value and gain executive level buy-in.
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Instant reports = instant value
Utilising HR reporting software with automated workflows enables HR departments to shave time off their reporting processes and provide value instantly. Automated HR reports free up the time for HR to focus on strategic analysis and presenting their findings, rather than wading through a sea of admin.
XCD HR and payroll software has over 150 customisable HR reports available as standard, meaning your HR team can report in real time on the wealth of information in your organisation. These reports include invaluable breakdowns of the key HR metrics: productivity and performance, turnover and retention, learning and development, and employee satisfaction.
Want to see how the XCD platform can boost your reporting capabilities? Learn more about the ROI of your HR software below: