HR analytics and reporting

What is HR analytics and reporting?

HR analytics refers to the process of collecting and analyzing employee data to identify patterns and gain insights that help HR teams make informed decisions for their people and business. HR reporting, on the other hand, focuses on presenting data through charts and spreadsheets, allowing HR teams to quickly identify different workforce trends.

How do analytics and reporting work together?

Both HR analytics and reporting work hand in hand to empower HR teams to make data-driven decisions. While HR reporting offers raw data, HR analytics goes a step further to analyze and identify trends, interpret the root cause of different issues, and sometimes even forecast future trends. HR reporting provides insights into what is happening, while HR analytics offer information on why it's happening.

What are the benefits of using HR analytics and reporting?

Here's why every HR team should adopt HR analytics and reporting:

Empowers HR teams to make decisions based on actual workforce trends instead of relying on gut instincts
Enables HR teams to predict future outcomes so that they can implement preventive strategies early on
Helps organizations reduce turnover by uncovering the actual reason why employees leave their organization, such as career stagnation, favoritism, etc.
Equips employees with the right set of skills by identifying their skill gaps and helping HR teams design targeted training programs
Boosts employee engagement levels by tracking engagement survey responses alongside performance and absenteeism data
Improves recruitment strategies by identifying which channels bring the best employees, what kind of job description resonates with candidates, how to best structure interviews, and more

What are the different metrics tracked in HR analytics and reporting?

Here are some of the key metrics tracked using HR analytics and reporting:

Recruitment metrics include time-to-hire, time-to-fill, cost-per-hire, offer acceptance rate, and more are tracked.
Headcount tracks the total number of employees in an organization or within a specific department to understand the workforce size, plan budgets, and allocate resources better.
Employee turnover tracks the total number of employees who exit an organization during a given timeframe.
Employee engagement analyzes how committed employees are to their role and their organization, and how they're bound to contribute positively.
Employee satisfaction tracks how fulfilled employees are with their responsibilities.
Absenteeism tracks the number of unplanned absences that employees take away from their work.
Revenue per employee tracks the revenue generated by each full-time employee.

How does HR analytics and reporting connect to business strategy?

HR analytics and reporting can shape strategies that directly impact organizational goals. For instance, analyzing employee turnover data can reveal that high attrition on the support team isn't just a staffing issue; it's also affecting customer sentiment, satisfaction, and the quality of service that your organization provides. By combining workforce insights and business decisions, organizations can develop targeted solutions that help them overcome specific workplace challenges.