How HR Management Report Help You Take Better Business Decisions
When you are steering a business, you will remain busy all the time considering many aspects, looking into hidden facts, and also boost efficiency. Looking into these with a higher clarity can help you to make proper decisions at the right time. It is very crucial for a successful businessman to understand every aspect of his business including the HR management report in order to take the right action. And as your business grows, you will start to run out of time if you are not using specialized business tools.
You may have appointed managers to take necessary decisions regarding your employees and other HR-related tasks. But are you really getting any output? Or, can you really track and follow the activity? If so, then how exactly can you track & scrutinize the performance of your employees with the right tool?
So today we will be discussing the importance of HR management reports and how WP ERP, a complete HR management tool helps your business make important decisions with its extensive reports.
But before getting into more details of WP ERP and its essential report generating abilities, let’s briefly understand why HR Management reports are imperative for your business decisions.
Benefits of HR Management Report for Business Decisions
Nowadays, generating reports is an essential part of every business domain. The more traditional way of collecting data and tracking employees’ performance involves heavy wastage of papers as well as files taking up unnecessary spaces, filling up the cabinets. Even though following the traditional way, finding files of a specific employee was easier but when it comes to looking for any specific information about an employee or inside a file, it is next possible to locate that.
This is when today’s digital HR management reporting software lends a helping hand in resolving the issue of being able to generate HR-related reports in a more organized way for future use. With the help of these tools, at any point in time, HR managers can retrieve or update any relevant information in real-time whenever they want. Later on, they can easily filter and sort that information to create performance data or produce useful information related to their employees that can help make important business decisions for them.
So for organizations, reporting can produce these three key benefits like:
Identifying the Weaknesses of the Employees
Identifying the weaker links in the company is highly essential as it contributes to the growth of the company. And HR department works as the main hub where everyone reports anything that is going wrong or needs improvement for future development.
So with the right reports regarding the employees, it enables the HR manager to realize whether they have hired the right workforce or the existing one requires further skill development or not.
Planning for the Future
Wisdom is taught through experience. You cannot expect different or better results doing the same thing over and over again. WP ERP HR management tool enables its user to have all your hiring time and existing employee performance data in one single place.
Both these pieces of information hold some key to link to the better future planning of the company. As one can easily find out from these reports whether the employees assigned for the job were the right fit from the get-go or not. As the chances of an employee performing well in a given role mostly depend on that.
Moreover, in the near future, with the assistance of these reports, the company would be able to discover whether someone working for a while in the company is right for some other key role within the company from the role that he is currently on.
For instance, someone working for a few years in the marketing team might not be the best candidate to lead the marketing team but someone working for a year might have the potential to lead the team. All these can be realized from the reports and the company can plan based on that to whom they should assign what role in the future after they have worked in the company for a while.
Getting to Track the Performance of Employees Effectively
One of the key duties of smart HR managers is to rectify the issue and resolve it before it becomes a headache for the company. This process of rectification includes helping out the employees that are struggling to perform as per expectations. If constant feedback and proper mentorship aren’t provided to the employees then there is every chance they will not be willing to improve their skills willingly.
In this regard, reassigning your workforce to a more suitable role might be required. For that tools like, WP ERP, HR Management provides its user with weekly/monthly reports that can determine the overall performance of the employee quicker.
How HR Management Report Enables Better Decision-making for Business
The Reporting in WP ERP can improve your situation!. WP ERP has an effective reporting feature that provides you necessary information about your business from HRM and Accounting side. In today’s article, we will discuss the reporting feature of WP ERP and how your HR manager can make better decisions to make your business successful.
Learn about the Growth of Your Business Team
When your business is growing, you should make sure you have the right manpower to deal with it. For that, you have to know your team closely. If you can view how much your team has grown since the beginning, who has proven to be more resourceful, you can easily take proper actions to cope up with the growth.
WP ERP has a powerful reporting feature that can process data from the HRM module. Besides that, it can generate meaningful reports that can fulfill your requirements of learning about the growth of your team. You can also filter the report to make it more specific.
From the above report, your HR manager can easily understand how the team has grown from the start. It shows the headcount of each month in a bar chart. The HR manager can easily identify the following facts from this report,
- The total number of employees.
- Employee growth of each month.
- Basic information of each employee including joining date, job title, department, location, and status.
Differentiate Your Departments According to Gender
You might need to give your female teammates some extra facilities or need males to do something specific. For this, differentiating your team into segments can be very effective. WP ERP can provide you such a report. You can easily differentiate departments of your business and take necessary actions easily.
This report shows the employee gender count in a pie chart, which is very easy to understand. It also shows the percentage of male and female employees. With this report, you can easily differentiate your team and your HR manager can take decisions by analyzing the following facts,
- The total number of male and female employees.
- Percentage of Gender ratio.
- Department-wise gender ratio in a bar chart.
- Gender count within each of the departments.
Get a Quick Overview on the Employee Attendance
You may need to get a brief idea about your employee attendance to prepare a new policy. Besides that, you may need to find out who is not coming to work regularly. For this, you can easily generate a report that gives you the necessary information about working days, holidays, and attendance. WP ERP HRM module can generate such a report that will give you a brief view of such information.
Using the above report, your HR manager can critically analyze different aspects related to the attendance of your employees-
- The total number of working days and holidays.
- The average percentage of the employees being present.
- Percentage of employees being late and leaving early.
How Much You Are Paying Your Employees
It is very important to learn about the pay rate of your employees. With this information, your HR manager can take decisions on improving employee performance by increasing salary. In addition, it is possible to make the budget for the upcoming month or year. WP ERP can generate this kind of report from the HRM module. Your HR manager will be able to know-
- The pay rate and pay type of each employee.
- The salary history
- How much salary increased.
- When the salary was increased.
Make Better Business Decisions with the Complete HR Managemen Tool
Taking decisions to improve your business is very important and to do so you need effective reports. And this is when a comprehensive tool like WP ERP can provide you meaningful reports that can be generated very quickly. You and your HR manager can use these reports to understand the business’s current condition and make things better by taking proper decisions at the right time.
Moreover, the WP ERP HR Management tool ensures a robust yet detailed HR management report that can effectively transform the company in no time. It has a secure business management system that boosts the efficiency of your HR departments.
Needless to say, that this tool will work as a third hand for your proactive HR manager, who will be able to compile all those essential reports to find the weaknesses within the company, make a definite future plan for skill development or role switch tracking down the regular employee performance from the reports available.
By the way, if your company website is already on WordPress, you should really consider installing WP ERP on your site. Why? It is a real feature-heavy yet free plugin that can help you to manage your overall business process. With WP ERP, you will get three handy yet separate modules like:
If you have any queries regarding the modules of WP ERP, feel free to let us know in the comments below or contact our support team. If you have enjoyed reading this blog on HR management report then you can Subscribe to our newsletters for more exclusive content like this.