Are You Evaluating the Right HR Data? – The Data that Matters
The human resources department encompasses a huge number of different facets, and mastering each of them can take time. One of the most important tools that any HR professional can use isn't what you might suspect, however. HR data is probably the single most important tool used for HR functionality since it is able to deliver the widest range of information. Used properly, it can help you monitor overall performance, recognize problem areas, formulate new strategies, and even develop a long-term plan for a company's future. From work ratio to attendance and beyond, evaluating the right HR data is vital to a company's success. But are you looking at the HR data you should be looking at, or something else?
The basic HR data that most pay attention to will be simple things like employee hours and salaries, but looking a bit deeper can seriously help you do more with the information. First of all, however, you may need to develop a better system for managing HR data. Today's software solutions can actually make it easy to view a variety of metrics and models based on the data you collect, and are important for seeing the bigger picture. Once you've got an HR data management solution you'll be able to really get the most from the numbers and figures and see what you've been missing.
For instance, you're probably well aware of payroll related HR data, but correlating it to actual hours worked may help you see problems among employees – problems that you can then address as needed and then continue to evaluate with HR data. Advanced modules can even use payroll, hours worked, and business profits to pin down a rough look at overall employee productivity. That's a huge benefit of using HR data effectively, and one that you can't afford to ignore in the least. When you see who's doing their jobs the most efficiently, you can figure out just how to reward them.
You may even want to consider turning your perceptive powers on yourself and looking at the HR data pertaining to how well the HR department itself is doing. In other words, take a look at the hiring, firing, and pay scales of the employees as well as just how much HR is doing to develop core strategies. If you review the HR data and find that many employees are being over or underpaid, you might need to address some issues with the HR department itself. It may be hard to admit that you yourself may need to rethink some things, but often that's the best solution to any problem. Take a closer look at the right HR data and you should be able to see just what you've been overlooking. It may have a profound impact on your company and its financial future.