In 2022, an HR dashboard is a crucial part of a successful HR team’s toolkit and often aggregates and visualises information from different HR data silos, such as absence, training and development, recruitment, and others, into one easy-to-access format that empowers more informed decision-making through evidence-backed data relevant to your specific business.
Yet thanks to the rise of cloud-based HR solutions, such as Natural HR, HR teams have said goodbye to the days of having multiple Microsoft Excel spreadsheets with complicated formulas. These solutions offer access to live data and visualisation, which reduces the traditional time-consuming, degree requiring and cumbersome approaches to data management in HR.
By providing your HR team with an overview of key metrics from different modules in one centralised location, HR dashboards and the reports they create allow teams to get a bird’s-eye-view of their business whilst also diving deeper into how specific data points correlate. For instance, the correlation between the amount of sick leave taken and the amount spent on Statutory Sick Pay, as one example.
This blog post will look at the objectives and features of HR dashboards and reporting and how to build your HR dashboard with Natural HR whilst exploring the challenges that they can help your company solve.
Exploring the benefits and features of HR reports
With the help of a dedicated reporting module that is integrated within your HR software, HR teams will see two clear benefits of HR dashboards and reports.
Firstly, there’s the quick overview of key metrics that it provides. The ideal reporting system will allow you to view metrics related to your employees and employers, such as attendance, expenditure, training and development, as well as onboarding. With integration into other HR modules, this data can be imported, securely stored and kept up to date in real-time within your company’s HR system.
Secondly, it will allow you to generate reports quickly with live data. Unlike Excel, a great HR reporting tool makes it simple to build interactive dashboards, without the need to understand complex formulas that with the touch of one button, could break months, or years, worth of work. This functionality is included in online reports with features such as drag and drop and the most common industry-standard HR templates as default, allowing you to manage reports quickly and effectively.
HR dashboards are an essential tool in the day-to-day running of an HR team, as well as the wider business, and with the inclusion of live data, can provide real-time statistics on several areas, including:
- Your employee headcount.
- Your turnover rate.
- The current absence rates.
But what about the long-term running of HR departments? While the goals of any HR department and the team will be different, an accessible HR platform offers any number of benefits to the entire business, including:
- You are gaining insights into how your business is running and performing.
- You are providing real insight into the day-to-day running of your business, including the distribution of the workforce between sites, absentee rates, payroll, employee retention, talent management and hiring processes.
- You can communicate with people in the company, including senior management and executives, about the company’s performance and its employees.
What are the most common types of HR reports?
In the modern world of HR, you need reports that will contribute to more effective decision-making from your entire team, and that’s why we think these are the 6 most important types of HR reports you need.
Attendance and absence report: Absence and reporting is a three-pillar approach. You want your data to showcase three things: Your current/historical absence levels, the period when it’s taking place, and, so you can improve your absence rate, an understanding of what the leading causes are.
The data your HR system can show you can also be helpful for when you begin to calculate the Bradford Factor score, which will be beneficial for when you need to determine a strategy for managing absence.
For example, you could identify that many employees are absent due to flu or COVID-19, and using that data, you could modify your policy to encourage staff to take the vaccine by offering them paid time-off to receive it, as one example.
Payroll expenses: Payroll is one of the most complex administrative functions and one of the most significant expenses to your organisation in terms of pure costs (It’s also something Natural HR can help you with, thanks to our dedicated payroll module). Still, you can often get insights that impact your bottom line as a business regarding payroll reporting.
By integrating your reporting and payroll module, you’ll be able to get insights into attendance, statutory sick and family pay, and detailed insights into your reimbursement expenses, allowing you to analyse the deductions applied on employee salaries.
Because all of this information is readily available and gives clear visibility into each step, payroll processing and broader financial issues become simple and more accessible than ever before to manage and help to showcase the benefits of unifying all of your HR systems into one.
Recruitment reports: As with absence, several HR reports can help inform business decisions about recruitment, such as looking at the average time to hire a new employee and the average cost per hire, both of which can help you understand the effectiveness of your recruitment processes.
In addition to several others, these metrics can provide helpful information on the effectiveness of your hiring strategy and even play into impacting your recruitment workflow, based on the lessons you’ve learned previously.
Turnover and retention reports: To make the most of your recruitment reports, it’s also vital that a business understands who is leaving and why. This report plays into the benefits of conducting exit interviews as part of your offboarding process.
Using your data, and combining it with exit interviews, HR analytics showcasing turnover and retention can help identify problem areas and guide you to put solutions in place that help you keep your top talent.
Performance management reports: Performance management reports can be as simple as reporting on capability and disciplinary matters or probation period success. But deep down, it can be much more. It can answer who is performing well and who may need some more one-on-one training sessions. At the same time, it could also offer up insights into a potential leader within your business.
Understanding performance and talent at an organisation-wide level is a powerful decision-making tool to help you plan for the future. It can also help identify business areas that need more attention and support.
Training and development reports: As we’ve explored in an earlier blog post on the benefits of training employees, providing training and development opportunities to employees is critical if you want to ensure you have a competent and engaged workforce. It’s also important to measure learning and development.
Who has attended your mandatory training? How much have you spent on training? What is the average amount of training that employees are undertaking each year?
These are just a few examples of training and development related HR analytics.
Creating HR reports with Natural HR
In 2022, HR data and its integration into the other corners of HR responsibility have become the bread and butter of industry-leading software, as HR reports play an increasingly important role in managing your workforce.
However, to generate these reports, you need a robust and integrated HR platform that brings all of your data into one centralised location that combines other modules like attendance, finance, or recruitment to ensure detailed reports.
Natural HR provides you with one centralised location to create reports, with the benefit of the reporting module being able to interact with dozens of other core HR modules, making it easier than ever to create relevant, detailed and accessible business-focused reports.
The reporting module of Natural HR’s software comes with the following features as standard:
- Get a flexible self-service function to create reports whenever you need them.
- Easy configuration of data from within your dashboard to generate reports in as little as 60 seconds.
- Easy projection of data visually, in a way that suits you and for those who need to see the data.
- Choose from over 30 of the most common HR reporting templates, or make your own, then share, filter, sort and group your data with ease, and download your reports in various formats, including PDF and CSV.
- Create custom and detailed reports that are fit for the boardroom that showcase the metrics that matter most to your business: from staff satisfaction and churn to recruitments cost and trends in absenteeism.
- Create personal dashboards that display the most important metrics to you and your team, allowing you to track trends in your people data over a period of time to uncover deep insight into your entire business.
- Identify any issues with ease, get notified of these and make changes before they become problematic.