Larger businesses failing to take the lead on people metrics, study reveals

The UK’s largest businesses are not taking the lead on people metrics and also fail to disclose workforce-related information within reports, recent research published by the CIPD has been able to reveal.

The “Reporting Human Capital: Illustrating your company’s true value” report points out that quality and quantity of reporting on human capital issues had generally improved between 2013 and 2015. Over this period, there was a 22 per cent increase in the reporting of ethics, and diversity reporting grew by 39 per cent since 2012, while the reporting of human rights issues saw a significant rise – up 127 per cent.

The research from CIPD found that companies in the property sector saw the biggest increase in reporting on human capital, a 41 per cent improvement since 2012. On the other hand, the space in reports dedicated to workforce welfare reduced significantly over the two years, with two in five firms (40 per cent) scaling back the amount they reported on.

CIPD chief executive Peter Cheese called for “more common definitions of key people and organisational metrics, and for businesses to better articulate how they are using these measures to provide consistent insight for all stakeholders”.

He added: “We need to take a multi-stakeholder view of the world and organisational value beyond the financial.

“[Human capital reporting] is now vital in building trust, in understanding the real drivers of productivity, in understanding critical risks and in helping to create better work and working environments for all.”

Workforce analytics – an integral part of the Tensor WinTA.NET package

Tensor plc is a market leader in the employee management systems and workforce analytics segment. We supply an extensive range of systems designed specifically to help HR departments record accurate data regarding the employee’s activity, their performance, as well as their attendance.

Our flagship WinTA.NET integrated workforce management solution incorporates a dedicated Absence Planning and Entitlement Management feature.

Our comprehensive, yet user-friendly software comes pre-loaded with graphical calendar charts that provide a colourful way of viewing an individual’s or a department’s absence records.

Each employee can be allocated different entitlements for absence such as annual leave or allowed sickness. As absence is booked and taken, the remainder available for each entitlement is updated. Entitlement formulae are used to calculate more complex entitlements calculated on a rising scale based upon length of service.

WinTA.NET supplies the relevant managers with information on employee’s absences through warning email notifications or via hardcopy reports. After that, the system would rapidly identify missing employees that are expected to be at work and then informs you via automatic email reporting reports distributed by email.

If you’d like to find out more about the Tensor workforce management solutions, just contact our team or Book a Demo, we’ll be more than happy to answer all of your questions and queries.