1. Blogs
2. What is HR Reporting? Definition, Types, and Key Benefits

What is HR Reporting? Definition, Types, and Key Benefits

HR professionals are becoming increasingly dependent on various data and HR reports related to their workforce to increase overall productivity. But what happens when the information is mismanaged or misplaced? This problem is seen in almost every organization. A ton of data is generated every day in an organization, but how can it be used to get valuable insights? This is where HR reporting comes into effect for both HR teams and the organization.

Data reports help understand how HR operations work in an organization and what issues it is facing. In this article, we’ll discuss various types of HR reports and their benefits to help you understand how to use analytics for informed decision-making.

What is HR Reporting?

HR reporting is a systematic process of preparing reports combined from all sources to measure the effectiveness of HR processes. These functions include recruitment strategies, onboarding processes, compensation and performance evaluation, and learning and development. These reports help an organization understand which policies are working and which aren’t.

HR reports examine various workforce-related trends for informed decision-making. For example, in the recruitment and selection process, reports and analytics show what attracts new employees to the organization. The analytics also show employee performance evaluations and what motivates them to perform at their best.

Why is Human Resources (HR) Reporting Necessary?

HR professionals use reports to achieve organizational goals and objectives. HR reports provide information about staff and overall business functions. This knowledge helps in decision-making and enhances HR processes.

Human Resources (HR) reporting is important as it helps organizations build a healthy and innovative workplace by providing data that leads to the collective improvement of various processes. The reports help understand what is going on in the organization and make effective decisions related to HR processes. Human resource reporting helps identify trends and understand the business’s strengths and weaknesses.

HR reporting helps identify and track top performers and the issues they face in the organization. With key indicators and metrics, it also helps plan training and development programs for identified gaps and upskill employees. The reports also identify problems related to low employee engagement by providing analytics and patterns.

What does an HR Report Look like?

HR reports are of various types and depend on the organization’s objectives and goals. Some of these business reports have common elements. These are mentioned below for better understanding:

Header Information:This helps us understand the report’s purpose and focus. It also includes the data’s time frame, e.g., weekly or monthly.

Key Metrics:One of the most important aspects is providing the reported issues. Key HR metrics include numerical data on specific HR factors.

Graphics and Charts:The report shows various bar graphs and pie charts for better understanding.

Analysis and Insights:This helps identify the data’s meaning and patterns for further improvement.

Recommendations:It suggests the strategies that need to be implemented based on the report’s findings.

Historical Data:It allows comparing current and past data to track changes.

What are the Different Types of HR Reports?

Some of the different types of HR Reports and metrics are mentioned below:

Employee Performance Reports

HR reports provide insights into employees’ performance and highlight areas where they need training. The analytical tools help understand an employee’s strengths and make decisions about performance appraisal. Many organizations use the Human Resource Information System (HRIS) for data and reports. The system chooses the key performance metrics from a variety of options available and customizes the data.

Attendance and Time Off/Leave

Track the attendance status of the employees with time in/out and overtime reports. Leave or time off reports help HR professionals to know on which dates the employees were present. The report can also generate the available leave balance along with the loss of payment due to absence. The attendance and leave reports show patterns in absenteeism and reasons for extended leaves.

Payroll Reports

With payroll reports, businesses can learn about salary benchmarks and compare them with the organization’s payroll policy. These financial reports show the employees’ salary structure and tax deductions for a particular period of time. HR professionals can get a detailed view of the actual working days and hours.

Employee Turnover Reports

Turnover reports show the number and percentage of employees who quit their jobs in a particular period of time. These attrition reports also evaluate the strategies for employee retention and how well they are performing. The report explains various reasons and patterns for employee turnover and provides solutions.

Learning Reports

Learning reports help upskill employees, figure out the gaps, and resolve them swiftly. These reports measure the impact of training and development and the trainee’s progress. They include metrics like the duration of the training program and training cost.

Succession Planning Reports

Succession planning reports help identify the key successors for various job positions in the organization. The report includes the top-performing employees and their development plans. It also includes the employee’s capability assessment to maintain continuous business and operational stability.

Compensation and Benefits Reports

The compensation and benefits report is one of the most important reports any organization needs to focus on to maintain employee satisfaction and retention. The report shows the salary structure and benefits packages. These metrics help HR professionals to compare compensation structures with industry standards.

Workforce Planning Reports

Workforce planning reports help HR professionals in forecasting the future needs of employees based on past data. HR professionals make decisions on talent management and hiring based on the growth and needs of the organization.

Preparing HR Reports

Gathering information from scratch and storing it in a spreadsheet is time-consuming. With technological advancements, the use of cloud-based HR software has increased, providing valuable insights into analytics and reports. This comprehensive solution helps form decisions based on the issues shown in the data collected.

The HR software provides a simple dashboard, which makes it easy to review real-time data. These software have various templates that make customization easy and can fit any organization’s needs and goals.

What are the Benefits of HR Reporting?

HR reporting offers various benefits for both the HR professionals and the organization. These are mentioned below:

• The reports provide valuable insights that help in informed decision-making and develop HR strategies for the organization.
• When the reports suggest areas for improvement and concerns related to performance, they help enhance the organization’s overall productivity.
• The analytics help compare historical data with current insights related to workforce trends and coordinate with HR strategies.
• Payroll and attendance reports ensure compliance with labor laws and tax regulations.
• HR reports help implement strategies that can boost employee performance and satisfaction.
• The data from reports help forecast future HR needs and allocate resources effectively.
• It helps to maintain a positive work environment by dealing with issues proactively.
• HR reporting and analytical tools build a strong brand reputation for ethical business practices.

Conclusion

With the benefits mentioned above, it is clear that HR reporting is the foundation for introducing people management strategies to motivate employees. These strategies help employees understand the value they bring to the organization. The insights gained with the help of this data let people in HR learn trends and assist them in improving operational efficiency.

Human resource reporting is necessary to track and monitor risk areas in the company and take corrective actions. When used appropriately, the report can result in a more effective workforce that helps achieve business goals. factoHR’s core hr platform comes as a part of the HR software, that helps in generating HR reports in seconds, regardless of size of the workforce. Custom reports can be created very easily.

Which Essential HR Reports Every Department Should Produce?

Every department should focus on some important HR reports to keep the workforce motivated and productive. These are mentioned below:

• Recruitment report
• Employee Engagement report
• Performance report
• Compensation and Benefits report
• Attendance and absence report
• Training and Development report
• Employee Turnover report

Which are Advanced HR Reporting Techniques?

These techniques are used to gain thorough insights into trends and patterns. They help HR professionals optimize HR processes and make informed decisions. Techniques like artificial intelligence (AI) and machine learning (ML) are also used for strategic planning.

Who Needs Access to HR Reports?

HR reports for management include confidential information, which should be restricted to specific “need to know” principles. Some of the people who have access to these reports are below:

• Board of Directors
• Senior HR leaders
• HR professionals
• Managers

• Previous Post What is HR Integration? Benefits, Types, & Best Practice
• Next Post What is HR Technology?