HR REPORTING

HR Reporting

Table of Content

Executive Summary3

Value of HR Data Collection & Reporting4

HR Reporting taken by organisation7

HR Reporting Function8

Target Audience for HR reports9

Purpose of Reporting9

How often the reporting does occurs?10

Connection of HR Reporting in the Achievement of Organization's Goals10

Financial & Non-Financial measurements included in the Reporting12

HR Reporting Gaps & Duplication14

HR Reporting Implementation Plan15

References17

Executive Summary

Creating the HR Scorecard was commissioned by Business Intelligence as part of its ongoing research programme into the latest developments and best-practice thinking in the fields of human resource management and business performance management and measurement. This Report explains how exemplary HR functions are building and implementing balanced performance management frameworks that align the day-to-day activities of the function with the strategies of the organizations they serve. This report focuses on the data collection issues of Human Resource. This report mainly focuses on the value of HR data collection and the HR reporting to an organisation.

HR Reporting

Value of HR Data Collection & Reporting

This section sets the scene by explaining why performance measurement has become a critical issue for HR professionals.

It explains how HR leaders are being placed under increasing pressure to demonstrate, with hard data, the value that their functions deliver to the business (Belcher, 1996). This chapter details how exemplary functions are implementing strategic management frameworks such as, but not exclusively, the balanced scorecard, to develop and embed value-creation processes into HR and communicate this value business-wide.

The HR Reporting is usually a bit separated from other reporting units in the organization and the modern trend is HR Reporting is about connecting the people related measures with the financial data of the whole organization (Phillips, 1996). The HR Reporting unit has to build a common database with the Finance Controlling and Financial Planning and Analysis to bring the results with a higher value added.

Moreover, this chapter explains why managing human capital has become a key issue for most organizations and how this is providing HR with an ideal opportunity to deliver competitive advantage to their organizations. Current funding and data collection arrangements have difficulty capturing information that reflects versatile activities such as collaboration building activities. The current system rewards prescribed outcomes, one size fits all (with some customisation) in an increasingly complex and changing work environment. Data collection of this kind is important for accountability purposes and for providing readily understood information to the general population. The funding and data collection system reinforces the paradigm of large companies who require standardised occupational skills with one best method for performing particular tasks.

The economic crisis raises the importance of HR Reporting as the top management needs the immediate information about the development of the organization (Wilson, 1999) as do a general requirement for greater accountability of traditional 'cost centre' functions (or run the risk of being outsourced). The HRM Function has to develop a quick status reports about the organization as the top management can quickly decide about the new initiatives to save costs. Managing the strategy, not measuring metrics, is essential to becoming a Strategy- Focused ...