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 organization can’t do without in such an environment 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.

That’s precisely what we’re here to look at—the power of data and analytics in HR software for Canadian businesses.. Whether you want to improve HR reporting or mitigate HR risks (or both), you’re going to want to read on.

What is HR software and why do we need it?

HR software is the modern solution to all the HR headaches you’ve grown to 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 vacation 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 organization the boost it needs on the HR front.

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

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

How your staff feels is just as important as how your staff performs—any business owner  knows that—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 to the arena 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 organization with the help of HR software that streamlines people management on the whole:

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 with the right HR software.

Being able to assign and edit any shift and schedule gives you the ultimate flexibility as a modern organization—putting the flex in flexibility, you might say. 

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, canceled and upcoming absences per employee and keep track of lateness and sick leave over time so you know exactly how they impact your business.

Leave and vacation planning

Requests for vacations can feel like they come thick and fast 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 whole workforce will allow you to avoid clashes and staff shortages and perhaps even lean into saying ‘yes’ more.

Payroll management and reporting

All the insights you get from HR data and analytics on shift patterns, sicknesses and leave will help you keep close tabs on payroll management across your whole organization.

You can use the payroll reporting features of HR software to build a unique view of how your business operates and where you might be able to make improvements, whether it’s in the way you manage overtime or create future job descriptions.

Your employees’ payroll details get stored safely and securely and your own records keep your business in check with relevant legislation.  

Business expense management

You can say goodbye to tracking individual receipts and chasing employees for information about their expenses thanks to recent advancements in HR software.

The free PoP (Proof of Purchase) app from BrightHR 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—processes that might have taken an age to carry out manually in the past.

How to use HR data to comply with Canadian employment legislation

All the data you get access to via the custom reporting features in HR software can ultimately help you remain compliant as a business in Canada.

For example, in most jurisdictions, your employees are entitled to at least two weeks of vacation after they’ve completed a year of employment at your business. This rises to four weeks after  some years of consecutive service, so it’s crucial that you keep across the milestones in their service so you can not only update their vacation entitlement on time, but also approve or reject their requests without having to check back through their records.

You might have been burned by how quickly time can get away from you in the past, but that no longer needs to be the case with the right HR software. You can use HR data to generate timely reports on what expenses you owe across your business at any given time, allowing you to remain compliant and  keep your employees happy when they’re not waiting around to get their own money back.

The importance of building a data-driven culture

The benefits of embracing HR data and analytics reach far and wide for Canadian organizations. It ultimately stands to change the way you make business-critical decisions for good and not just for now. 

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

Cultural change can’t happen overnight, though, 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.

Streamline your people management with BrightHR

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

You can consider it a part of your digital transformation as a modern business. It’s a much more sustainable approach to human resources than relying on the traditional methods of manual reporting ever was

When you enlist the help of BrightHR software for all your HR needs, you’ll be as unlikely to look back as your employees will be to look elsewhere for a job. Book a free software demo today to see BrightHR in action!