Your HR team is responsible for many important tasks. From completing payroll and creating recruitment processes to implementing employee policies and managing employee benefits, HR has a huge impact on the efficacy and productivity of your organization. In addition to these tasks, your HR team should also be tracking key information about your staff. Not only is record-keeping often required by law, but it’s also an essential aspect of an efficient and healthy workplace for all employees.

Generally speaking, to comply with legal requirements and run a successful business, you should always include the following items in your HR analytics reports.

Compensation data

Keeping track of current employee compensation is important to ensure your payroll is accurate. However, your HR analytics reports should also include historical compensation data for your company. This information may be important if your organization is ever investigated for minimum wage or overtime payment practices or you need to justify your wage-setting practices for any legal reasons. For more information about HR analytics reports, visit the website.

Number of employees

You’ll need to know how many employees your company has to negotiate group health insurance rates and determine the size of your HR team. After all, your HR staff could quickly become overwhelmed and begin making mistakes if your staff grows too fast.

Professional development expenses

Your HR team should also be keeping track of all expenses related to staff training and ongoing education. That way, you  can identify your overall ROI as it pertains to employee professional development and determine if you’re spending too much or too little to help your team advance into new positions within your organization.

Voluntary EEO

Government contractors are legally required to keep track of employee data like age, sex, race, and disability. While applicants voluntarily provide this information, some organizations visually assess their staff to get the data. Regardless, your organization should maintain this data to provide evidence of equal employment opportunity practices. You can also use it to determine how you can improve diversity within your organization.

Employee eligibility

According to the Immigration Reform and Control Act of 1986, your organization has to keep documentation of your employees’ eligibility to work for at least three years. If you fail to do so, your company could face serious consequences!

Retention rates

Your HR analytics reports should also include the number of employees who stay with your company, as well as your turnover rate. Not only will this information inform your hiring and recruitment practices, but it can also help you calculate your cost-per-hire.

Recruitment costs

And finally, don’t forget to track valuable data on recruitment costs, such as the number of applications you receive for various positions, the number of interviews you conduct, and the hiring outcomes. This data will enable your organization to accurately assess the effectiveness of your recruitment strategies and make changes as needed.

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