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Functionality it can help any business get a better handle on their data, making it possible to use that data to see the big picture and add value to the organization. However, the vast number of reports available can become overwhelming for those that don’t know exactly what they’re looking at. To add even more complexity and pressure, reports can be custom crafted in a multitude of ways.
The following are a few reports that can be used to improve people management in very straightforward ways.
Vacancies leave a hole in an organization that can affect customer service, employee morale, and productivity. Having fast access to vacancy reports allows managers to quickly figure out which positions are open, which departments are understaffed, and how long positions have been vacant. With the help of HRMS Software information can help managers to fill vacancies more efficiently, but it can also provide insights like problems with filling a certain position that cause it to be vacant longer and more often.
Labor is generally the largest expense in a workplace. Being able to identify labor costs and ratios at a glance can help managers to better manage labor, which can in turn drive dollars to the bottom line. When real-time reporting is available, managers can even make on-the-spot decisions to save labor dollars.
Compliance reports can be instrumental in determining whether employees are eligible for benefits, identifying which employees have benefits, and reporting the right information to the appropriate party. Compliance reports can help you to take better care of your employees, while also adhering to existing laws and avoiding penalties. Taking advantage of HR Software can save a tremendous amount of time and potentially a lot of money, as well.
Employee turnover can become costly and vacancies resulting from turnover can hamper productivity. Reports produce a ratio that can be used to compare a company’s turnover with similar companies in the industry to determine whether there is a problem with higher than average turnover.
Since decreasing turnover should be a goal regardless, turnover reports can also be helpful in identifying certain factors that may be causing employees to leave. Certain positions or departments may see greater turnover, which would allow you to investigate further and find out whether the problem is a particular manager, wage disparity, lack of consistency, or another issue. You may also be able to determine whether turnover is high at certain times of year or if there are other factors at play.
Finding and hiring great candidates can improve a workforce quickly and effectively. Sourcing reports can relay exactly which sources are producing the best candidates, the greatest number of candidates that turn into new hires, and more. Since sourcing information can change quickly with trends, having access to sourcing reports can help HR professionals and recruiters continue to source strategically and improve the workforce.
These reports are basic ones that can be used by just about any workplace, regardless of size or industry. As managers get used to using reports, it will become clear which reports could be used to further improve a particular place of business based on unique characteristics. Customized reporting may also become invaluable as managers and HR Analytics Software get more comfortable with the HRMS Software.