Global payroll and HR reporting gives dynamic corporates vital visibility across an organisation rather than simply country by country.
You can use the data to make comparisons across teams and across regions, replicate good practice from one country to others, inform management decisions and identify warning signs before a problem spreads. The result is optimised workforce performance, engagement and productivity.
Reporting and analytics cover all employee data for a holistic view of payroll and HR in real-time. You will have hundreds of standard reports at your fingertips, from people planning to travel and expense, plus the ability to customise further reports to suit specific business needs.
Three of the top drivers of having global payroll and HR reporting are quiet quitting, absenteeism and director-level pay visibility.
1. Quiet quitting
Quiet quitting is when staff just do the bare minimum to meet their job spec and keep their position. This is now recognised as a fundamental danger to business success, with research suggesting that almost half of employees are “quiet quitters”. A key way to boost engagement and retention is HR reporting that monitors performance and job satisfaction trends as well as picking up individual problems. If this is integrated with a payroll platform that makes it easy for employees to handle their pay data, streamline their travel expenses and view holiday entitlement, they will feel valued from recruitment to retirement.
2. Monitor absenteeism
Average rates of absence across Europe are between 3% and 6% of working time, with a reasonable estimate of the cost put at 2.5% of GDP. Germany is the country with the highest work absence rate, at 18.3 sick days per year, according to a study of 28 countries by Eurofound. Israel has the lowest rate, at 3.9 days. Corporates can use payroll and HR reporting to monitor absenteeism to see how they compare with averages, and to gather regular feedback on workload, work-life balance, mental health and wellbeing – pivotal to spotting danger signs and taking action on areas of concern before they become serious problems.
3. Director-level pay visibility
With detailed payroll and HR reporting, companies can track director-level pay across the world or by country and compare it with productivity and revenue generation. If data on directors’ pay is made publicly available, it also provides powerful leverage when it comes to recruiting and retaining top talent. Visible salary ranges encourage job applications for 91% of job seekers, research from Tech.eu found. With business growth contingent on strategic leadership by directors, being able to hire the best people is critical. According to Harvard Business Review, pay transparency has positive impacts on employees’ perceptions of trust, fairness and job satisfaction and has been found to boost individual task performance.
Accurate reporting is also essential at a time when global payroll is the most complicated it has been for two decades. Ambitious fast-growth companies face the challenges of processing multi-country payroll in multiple currencies whilst ensuring data is accurate. Zalaris’ Reporting & Analytics Software, part of our unified payroll and HR solution, PeopleHub, supports accuracy and strategic decision making across your entire business.
This post was written by Zalaris. They are an exhibitor on the HRTech247 Payroll, Time & Attendance floor in the technology hall here, and the SAP Partners floor in the Partners Hall here.
