HR reporting is key to ensuring that well-informed business decisions are made daily. Keeping everyone apprised is a herculean task for growth companies; leaders, executives, board members and regulators all need access to key HR metrics, causing HR departments to consistently analyze and create reports for their stakeholders.
No matter the size of the organization, there is a need to track a substantial amount of information about their employees. Some utilize various HR systems to maintain this information, while others simply use spreadsheets. Whatever the process, business leaders clamor for real-time analytics and dashboards. However, given the level of effort required to pull together these reports and analyses, many find that more frequent report creation is not feasible in their current environment.
On a monthly and quarterly basis, CrossCountry creates various reports on headcount, leaves of absence, transfers, attrition, demographic details, compensation, and performance. This data is critical to be able to have the capability to analyze trends and identify areas of focus for HR-related enhancements to relevant employee decisions, policies, and benefits. Current data is extracted from the legacy system then combined with historical and external information in a password protected Excel workbook through which reports and presentations for management and board review are created. Regulatory and compliance information is also extracted and analyzed manually.
Ultimately, the entire monthly and quarterly reporting process from start to finish takes time to compile, verify, and analyze so that it creates value for the organization.
How Workday Can Help
Workday will provide CrossCountry the ability to leverage reporting delivery and dashboards to analyze real-time data.
Workday provides sensitive information, both real-time and point-in-time comparisons, to the relevant stakeholders. For example: CrossCountry’s Diversity & Inclusion Committee will be able to view diversity information in preparation for their steering committee meetings, regional leaders will be able to view hiring and retention trends for their market, and service line leaders will be able to see how employee performance and compensation changes are impacting attrition.
All of this information will be available to view on demand and securely on laptops or mobile devices. HR will no longer need to build reports, but instead, shift their focus to the ability to help company leaders interpret the data and trends, and suggest changes to improving key metrics and retention.
To learn more, view our guidebook “Learning from Our Journey: 3 Ways that CHROs Can Benefit from Workday”