HR reports for 2017
The start of a new year means many typical HR activities are in full swing. Performance reviews, compensation planning, workforce planning and hiring requirements, in addition to your new strategic initiatives such as pay equity, diversity/inclusion initiatives, engagement & employee studies, etc. Despite the HCM and payroll systems and partners you depend on, executing these tasks inevitably means HR will be challenged with constant reporting requests and requirements, which means HR analysts and business partners will spend countless hours manually pulling data from multiple systems into spreadsheets, combining it with other data sets with macros and VLOOKUPs, to deliver many of the same reports as years past.
And now, with new regulations taking effect and a new administration about to take office, uncertainty surrounding labor policies and regulatory compliance requirements pose major concerns for HR reporting for 2017.
Pay equity transparency will be high priority in 2017, as calculating your gender pay gap, and presenting the information will become expected within corporate policies and required as a federal regulation. For example, new Equal Employment Opportunity Commission (EEOC) rules, and other initiatives that address pay equity, require tracking and reporting in EEO-1 reports. “The way companies report employee data to the EEOC will be much more detailed in scope and breadth… Having to provide total employee hours means more work in tracking and detailing those hours if the change becomes effective in 2017.”
Affordable Care Act
Current efforts to amend, repeal or replace the Affordable Care Act, are front page news as the republican administration is about to take office. ACA reporting requirements are complex and time consuming as it is, with worked hours, salary and benefit cost calculations needed to determine eligibility, affordability and enrollment, and compliance expectations through any transition period will surely be daunting.
State and Federal leave policies
In addition to the complexities of maintaining compliance with federal leave policies (FMLA, ADA, etc.), many states now have their own laws with regards to paid leave, requiring even more policies and procedures to report on.
Automate data extraction, cleansing and blending from any system or report
Fortunately, HR professionals can now leverage self-service data preparation tools designed to simplify and automate these operational tasks. Instead of manually entering data into MS Excel, standard reports from any Core HR, Payroll, recruiting or talent management system can be accessed and parsed instantly. Data can be extracted and combined to make reporting, reconciliation and analysis completely painless. For example, The Marbridge Foundation used Altair Monarch to save 2000-3500 man-hours in ACA reporting.
- Data Fabric: Stitch Up Your Data Strategy With Visualization - September 13, 2019
- Data Fabric: Save a Stitch in Time with Predictive Analytics - September 5, 2019
- Data Fabric: Skip the Patchwork with Powerful Data Prep - August 14, 2019