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HR Insights & Analytics
4 HR Reports Every Small Business Needs
Nirvi B
September 17, 2021
7
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The severity of data & analytics in HR has been greatly emphasized in recent times, where Al's presence in the future of work is given substantial priority. At this stage, all of us have drawn a mutual conclusion, that data is anytime useful for an evolving business, whether big or small. However, the greater question lies in reciprocating this data into actionable insights, explained in our day-to-day lingual style.

In such a context, reports are the go-to answer. While data is crucial and is used to evaluate an employee’s performance and other metrics, HR reports can transform this data into digestible and conversational language, while also supporting business growth & development through know your business.

“Great questions make great reports.” Who will use the HR reports? What kind of data is required? What do HR reports have in store for small businesses? Let’s have a deeper look into the 4 types of HR reports that every small business needs.

1.  Employee Engagement Reports

An employee survey is a great way to gauge the your employee's satisfaction and motivation levels. Compensation, workload, attitude, teamwork along with other factors that influence employee satisfaction may be addressed in these surveys.

Employee motivation & well-being

To grab a better angle of your employee’s motivation towards their job, its responsibilities, and the larger influences across the organisation, you may want to look at how your employees feel about their managers, supervisors and the company as a whole, and how it could affect their motivation levels.

At the end of your survey, frame a few open-ended questions in order to learn more about what inspires your employees and what else you can do as an employer to assist them in this process. Some of the survey questions, presented with a rating scale of 1-5, may include:

  • How excited are you about your role?
  • At work, what/who is your most important source of motivation?
  • Do you believe your thoughts and ideas are considered during decision-making?
  • How motivated are you to perform your best everyday?
  • Are you content with your supervisor's management style?
  • Do you believe your work is properly assessed and praised?
  • What can we do as a company to improve your employee experience?

A sample employee motivation survey template may also look as follows:

employee motivation survey template

2. Recruitment & Hiring Reports

According to a Capterra survey of HR professionals, 75% use software to track recruiting activity, and 94% feel the program has enhanced their hiring process. While that might have its own perks, standard HR reports on recruitment are highly crucial. There are three types of hiring reports that every small business should be looking at:

Cost per hire

Examine the average cost and expenditure to hire a new employee. These metrics might assist you in determining the effectiveness of your recruitment efforts. You can also glance over the total number of responses to the openings, sources where your candidates heard about the opportunity, and track diversity & inclusion to steady up your HR reporting ahead in the game.

Time spent per hire

Additionally, assess the amount of time taken to fill your company's opening positions. This helps you figure out which areas of the hiring process need improvement or are the most time-consuming. Like the popular quote states, no problems are unsolvable. Except for the time-consuming ones, is what they miss out on adding.

Comprehend the report further to assess how you can reduce your time to hire and increase your hiring efficiency. Although this count will likely differ depending on the role, it allows you to plan in advance and lessens the gloomy impact of a vacancy in your organisation.

Employee retention and turnover

HR statistics on attrition and retention help you discover problematic areas, wherein you need to implement remedies in guarding your best employees. As long as it isn't your valuable employees, some employee turnovers can be healthy.

3. Performance Management Reports

Tracking, reporting, and monitoring your employee's capability and success are examples of performance management reports. You may recognize your greatest performers, as well as those who require training, with clear and valuable decision-making tools of performance reporting.

Performance management reports are critical as they may help in implementing strategy and deliver desired outputs. Performance appraisals and KPIs are also included in these metrics. Who is doing particularly well? Who has the potential to advance and become a future leader? As to your performance review cycle, who is earning higher rewards?

To your rescue, there comes a 9-box model to offer a clear graphical representation that helps in identifying areas that require additional attention and support.

9 box model performance management

4. Attendance & Leave Reports

The relevance of having a mechanism for tracking employee attendance is to have an accurate representation of everything related to hours worked and time off.

Lost productivity, lowered morale, and turnover are also among the things that have an indirect impact on a company's costs. Thus, the objective of collecting attendance data isn't just to figure out how many hours workers work.

Attendance reports

It's critical to understand how often absence is happening, when it's happening, and what's driving it. A total number of users on duty, absentees, holidays are among the factors that should be included in HR reports on daily attendance.

Whereas, reports on working hours must include check-in & out, employee name and identity, early/late admission, exit time, location of clock-in & out, the total number of hours, shift allowance, time zone etc.

Leave reports

The list of employees who have been placed on prolonged leave is generated by a leave report. Details that are supposed to be mentioned are the type of leave, whether paid, unpaid or medical, duration of absence, period of return, etc.

Leave reports may also be specialized into reports on leave requests and balance leaves. Th report on a leave request may include start and end date of the leave, date of action on the request, leave sanctioned by (concerned person), and notes of the action taken on the request.

Conclusion:

Discussions in a workplace become fruitful when performance, engagement and other HR related data is easily digestible. It's vital to use these reports to spark daily discussions. HR managers also might need to discuss them with employees and the team to brace organisational development.

Moreover, creating a trustworthy set of standard HR reports lets you stay more organized, productive, and better understand and satisfy the needs of your workforce. You may unlock the potential of your company's data and deliver actionable information to a variety of stakeholders with the help of an all-in-one HR software platform.

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