Harnessing the power of HR data and analytics from HR software

There’s no doubting the difficulties of keeping up with your responsibilities as a business owner in today’s frantic business landscape. From competitor analyses to employee appraisals, there’s a lot to stay on top of to stay relevant, no matter your industry.

One thing that the modern organisation can’t do without is powerful HR data. What was once confined to spreadsheets and notepads is now easily accessible in software that can unlock better business decisions in seconds.

In this guide, we’re going to look at the power of data and analytics in HR software for Australian businesses.

What is HR software and why do we need it?

HR software is the modern solution to all the HR headaches business owners dread. From the automation of manual tasks like time-tracking, to the in-depth reporting features that allow you quick access to payroll exceptions and holiday allowances, you get everything at your fingertips with the right HR tools.

The data and analytics capabilities that HR software can unlock for your business are far from a one-size-fits-all, box-ticking exercise. You can tailor the solution to meet your specific situation and give your organisation the boost it needs.

For more information, see our article What is HR software?

What’s the real-world value of HR data and analytics?

How your staff feel is just as important as how your staff perform, but it’s traditionally been a laborious task to manage on a daily basis. Once you’ve finished the rounds of face-to-face meetings, it often feels like it’s time to start them again for the next quarterly review.

What HR software brings are instant insights into everything from your workers’ status in the short term to employee satisfaction in the long term, so those dreaded drawn-out processes are now a thing of the past.

With HR analytics at your fingertips, you can start making data-driven decisions to improve your strategic HR planning, boost your workforce morale and enhance your operational efficiency.

What’s more is that custom reports make life much easier in the HR hot seat when you can use them to gather deep insights into trends, performances and engagement across your various team members.

Where to apply HR data and analytics for better decision-making

HR software can help you make more informed decisions in a range of business areas. It does away with those time-consuming manual efforts and empowers you to make business-critical judgments through the power of custom reporting. 

Here’s a look at which areas you can improve in your organisation with the help of HR software that streamlines people management overall:

Real-time working status updates

One of the core benefits of HR software is that it gives you real-time updates on who’s on and who’s off at any given time, all in one place.

With clocking in and clocking out functionality for individual employees and a summary of your whole workforce’s status available at the click of a button, you’ll be more than equipped to make operational decisions on the fly.

Schedule and shift planning

You can use data and analytics on previous timesheets and future staff availability to make shift planning a breeze. Being able to assign and edit any shift and schedule gives you the ultimate flexibility as a modern organisation. 

Sickness, lateness and absence

Every business owner, manager or supervisor needs a full view of absences across the business, whether planned or not.

Dive into HR data and analytics to get a breakdown of taken, pending, cancelled and upcoming absences per employee and keep track of lateness and sick leave over time so you know exactly how they impact your business.

Employee leave and holiday planning

Requests for holidays can flood in at certain times of the year, so it’s important to have the right software in place to help you manage it.

Arming yourself with the most up-to-date information across your workforce will allow you to avoid clashes and staff shortages, turning those tedious tasks into HR’s finest automation.

Business expense management

You can say goodbye to tracking individual receipts and chasing employees for information about their expenses with our free PoP (Proof of Purchase) app. It enables you to keep your most accurate records to date so your business can save on tax and your employees can stay in pocket with their own money.

Document storage

Your workload can be made even lighter with HR software that allows easy access to HR and employment documents stored in the cloud.

You can access staff information in seconds, such as contract or training expiry dates, and use the data to plan ahead as a business.

The importance of building a data-driven culture

If you leverage analytics and custom reporting in HR and develop a data-driven culture across your organisation, you can work more efficiently with every other department. This kind of approach can raise both operational efficiency and workforce morale across the board, since everyone becomes part of the same finely tuned machine.

Cultural change doesn’t happen overnight, so it’s important that such an evolution comes from leadership. By championing the use of HR data and analytics to drive a culture of continuous improvement, you can build a better business for employees, customers and stakeholders alike.

Enhance your people management with a data-driven HR solution

Harnessing the power of data and analytics from HR software can be a transformative move for any Australian organisation. It could be the difference between flying and falling if you find yourself in a very competitive industry that demands instant decisions.

Transitioning from the more traditional methods of reporting to a sustainable approach can be considered part of your business’s digital transformation.

Book a free product demo or call 1 300 029 198 today to see BrightHR in action.