3 HR Reports Every Small Business Needs

They say that what gets measured gets improved. While it might not be as simple as that, it’s true that measuring key metrics helps you form a baseline and make more strategic decisions for your organization. And we don’t just mean tracking revenue. HR reports that measure the people elements of a business can make a huge impact in every organization.

If you’re new to HR reporting or just need a refresher, here are three HR reports your small business should start using today.

Hiring Reports

Hiring practices can make or break a business. With hiring, the goal is to put the right person in the right job at the right time. The hiring process itself can be quite expensive when you consider the cost of a job posting, loss of productivity during training, and the time and resources required from hiring managers. Rapid turnover can drive this cost up even more, as your organization runs through the same process again and again.

However, you may not realize how much the hiring process costs if your organization doesn’t currently measure that. Creating a hiring report can help you and your team understand where you’re spending your resources, which is the first step to determining if those are the right spending decisions. Ideally, hiring protocols should be clearly indicated in the early days of a business and can even be worked into your business plan.

The key elements of a hiring report are:

By tracking these metrics, your organization can start to form better hiring strategies and spend resources more effectively, rather than blindly experimenting to see what works.

Employee Value Reports

The employee value report may sound a bit impersonal, but it’s an important part of assessing an employee’s contribution to your organization. Of course, employees offer value in many ways, not all of them quantifiable; the best business owners and HR professionals will keep that in mind alongside this report. Understanding both the qualitative and quantitative value of each employee can help you identify performance issues that need to be addressed as well as top performers who deserve recognition.

Employee value reports should assess two key areas:

Employee value reports can help your organization make thoughtful, strategic people choices as it scales. After all, decisions around promotions, firings, and hirings all impact your people, and they should be made with the right information in hand.

Want to learn more about BambooHR? There’s no substitute for hands–on experience.

Try it yourself—free for seven days.

Start Your Free Trial Now

Employee Engagement Report

Businesses are starting to realize just how important employee engagement is in the grand scheme of things. An engaged employee is more likely to be more productive, stick with an organization longer, and contribute positively to a company’s culture. Producing an employee engagement report regularly can help you and your team identify trends and make changes when necessary.

There are a few metrics that will contribute to the overall employee engagement report, including:

Employee engagement can fluctuate throughout the year due to various reasons like which season it is, a recent company event or party, and more. For example, after the company holiday party where employees received a nice gift, engagement may rise; in the middle of the busy season where everyone is working extra shifts, it might decline. Being able to track these metrics and forecast periods of decreased engagement will help drive corrective action and strategic planning.

Every organization, no matter how big or small, can benefit from HR reports like these. Taking time to look at your people from a strategic standpoint can help you make better decisions for your organization as well as create a better experience for your workforce—a win-win.

Ashley Lipman – Content Marketing Specialist

Ashley is an award-winning writer who discovered her passion in providing creative solutions for building brands online. Since her first high school award in Creative Writing, she continues to deliver awesome content through various niches.