Streamline the collection, reconciliation, scrubbing and creation of internal and federal HR reports
Pay Equity/EEO-1 Reports
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 prove total employee hours means more work in tracking and detailing those hours if the change becomes effective in 2017.”
While reports like or EEO-1 must be filed annually, ad hoc status checks are often prepared to help identify areas of concern that may need to be addressed. HR is often tasked to review issues like pay equity in advance of management or board meetings. These ad hoc reports may involve analyzing pay rates across several variables – gender, race, position/role, tenure, management vs non-management, exempt vs non-exempt, payroll market analysis, metro-region/markets, etc.
Monarch marks this type of report generation simple by:
- Easily bringing in the widest variety of file types, including Excel, CSV, PDF, TXT, XML, JSON and third party reports to the data preparation platform
- Quickly joining and blending disparate files together into one, workable spreadsheet
- Fostering easy data preparation, cleansing, wrangling and manipulation with pre-built, point-and-click functions
- Exporting reports in an easily-consumable format for quick, compliant reporting
Cut 401k audit preparation time by weeks with pre-built models
401k (ERISA) Audit
The Employee Retirement Income Security Act (ERISA) requires organizations with 100+ employees to submit a form 5500 annually to the Department of Labor.
Without data prep, this can take weeks to compile the appropriate information. In addition, incorrectly filed 5500s can incur massive fines for organizations. With the help of Monarch, an organization saved 12 man-hour weeks of report creation for their 401k audit and now this process only takes the HR department about 5 minutes to complete each year.
With Monarch, you only have to do the heavy-lifting once. After you decide which files you want to include and how you want them altered, all you have to do is bring the new reports into the model each year. With pre-built models, months-long projects become simple processes by editing the file path and applying the documents needed for reporting.
Take a Look at How Monarch Simplifies 401k (ERISA) Audits
Use models to easily access necessary data and maintain compliance on all official HR reports
With self-service data preparation tools, the semi-structured data within reports (even PDF documents), can be automatically captured, extracted and viewed for reconciliation, analysis and reporting. Your compliance data is readily available electronically, for fast, easy and consistent reporting.
Submitting compliance reports is standard practice for HR departments, both large and small. Regardless of whether they are prepared annually or initiated by an incident/event, accessing the necessary data is not easy. The reports and audits for ACA, OFCCP, OSHA, 401k, FMLA, etc. all require details that are often housed in multiple locations. Making matters worse is the fact that those details may be contained within documents and enterprise reports which must be extracted, reconciled and often manually transposed.
While current efforts to amend, repeal or replace the Affordable Care Act are front page news, ACA reporting requirements remain complex and time-consuming. Reconciling worked hours with salary and benefit cost calculations is necessary to determine eligibility, affordability, enrollment and compliance expectations through any transition period. Without the help of data preparation tools, this is an exceptionally daunting task that requires hours, weeks or months of manual data manipulation.
|Learn How the HR Department in San Bernardino Schools Stays Compliant with Monarch||
Learn How the HR Department at Marbridge Stays ACA Compliant with Monarch
Unlocking unusable reports from HRIS/HRMS software drastically reduces time to insight about organizations performance for HR professionals
Human Resources professionals are enabling themselves with self-service analytics by adopting data preparation tools. These tools simplify the access to and blending of multiple data sources into a separate spreadsheet or a visualization solution. Using data prep, HR departments can produce both sophisticated analytics processes and address ad hoc report requests.
Data prep can provide workforce planning assistance by making it simple for professionals pull and combine labor and economic projection data with industry and populations trends. In addition, a clear picture of the best candidate for certain roles by linking that individual’s performance data with their recruitment analysis. This also helps to identify where HR should spend its time and money sourcing candidates. Hiring executives can also uncover how candidates have matured over time and determine what an individual’s value level to the company is.
- Better access to HR data can support overall operations by providing insight into how companies can improve their leadership development programs and how they can create more effective training activities. Even historical reports and PDF documents can easily be pulled into a data prep tool and appended to your spreadsheet data.
- Employee engagement is captured by surveys, performance reviews/rankings, feedback, development and learning, succession plans, compensation, merit increases, benefits, safety, diversity, inclusion and more. Gathering insights from each could entail working with four or five different HR systems.
- Retention and employee churn could also require working with a variety of disparate data sources. Identifying flight risk could involve pulling data as it relates to engagement, reporting structures, tenure, company revenue, profitability, hiring and development, commute details, company location, etc. Again, multiple HR systems are likely to be involved.
- Talent acquisition has always measured time-to-fill, but today organizations need to analyze talent pipelines, candidate engagement, brand effectiveness, channel effectiveness, and top performer indicators. In addition to applications, interviews and hiring rates, recruiters need to examine data relating to employment web traffic/abandon rates, social media sentiment, geographic details and more.
Self-service data preparation tools simplify the analytics process for HR professionals through automation. This means the extraction, blending and manipulation of data is a far less time-consuming process – particularly when it comes to data found in disparate sources. This includes turnover reports, new hire budget analysis and compensation data found in systems such as Workday, ADP, Kronos, and SuccessFactors. Time spent prepping data can instead be used analyzing it to make more accurate and strategic HR decisions, such as choosing which retention programs are worth maintaining, deciding who to hire and determining salary. And equally as important, the sensitive data is addressed with features like built-in data lineage and masking, while automating processes to make them repeatable and consistent.
Quickly compile data from disparate systems to get the most up-to-date headcounts and data
Why is it so hard to know how many employees you have at any one time? Something that seems so simple for small companies can be a nightmare for large enterprises. Especially for companies with multiple systems (typically due to mergers, acquisitions, or localization requirements). The simple task of identifying total headcount often involves several people and hours of time to collect the data, put in Excel, and create pivot tables.
Even through headcount numbers often change, sometimes daily, the process of gathering this data is the same. Monarch can automate this process by creating a model of each step, including accessing the required data sets and all of the steps needed to normalize that data, into a consistent file that can be used in Excel, a database, a data visualization tool or a business information platform.
Quickly update and maintain accurate organization-wide reporting
Workforce Planning, Talent Pipeline and Age Band Reporting
As HR teams strive to be more proactive in their talent acquisition initiatives, on-going analysis of employee ages, tenure and flight risk becomes critical to ensure adequate staffing levels. Stronger economic climates, competition for talent, an aging workforce and high turnover rates require on-going reporting and analysis.
Empowering HR to stay ahead of staffing requirements requires access to a wide range of aggregate employee data regarding potential retirements, skill sets, success needs, workforce planning, open requisitions vs talent pipelines, time-to-fill, employee engagement scores and more. Self-service data prep tools not only provide easy access to data, but also to built-in data governance features such as data lineage, data masking and access controls that ensure operational compliance, security and trust in your corporate data.
Quickly and accurately compile all disparate files needed for compensation and rewards reports
Total Compensation & Total Rewards Statements
HR leaders know the value of Total Rewards Statements as a means of improving employee retention and engagement, in addition to being a valuable recruiting tool. However, the challenge of creating accurate total compensation reports is often a daunting task.
Regardless of whether your company is a Fortune 500 corporation or a small to mid-sized enterprise, capturing and combining employee data associated with: base pay, bonus and commissions, government mandated benefits, paid leave, employer contribution, voluntary benefits, stock/equity and other non-monetary benefits, etc. can be time-consuming, manual, error-prone and repetitive. Typically, HR is tasked with managing this data across numerous spreadsheets, attempting to enter and combine data from several different systems or unwieldy PDF reports. While even small organizations typically have multiple, disparate HR systems, large multi-national organizations or those involved in mergers and acquisitions inevitably have many different systems for HCM, payroll, workforce management, equity management and more.
With Datawatch Monarch, data from any of these systems can be accessed, cleaned and blended to automate the creation of accurate total compensation reports. HR can save time and improve productivity, avoiding manual data entry, complex spreadsheets and limited data access.
Joining Disparate Sources is Simple with Monarch
Reduce the amount of time and effort needed to complete system migrations
Payroll/Core HR System Migration
As your organization (or your customer if you are a vendor) embarks on the process of upgrading or migrating from one Payroll provider or Core HR system to another, historical employee data must be transferred from one platform to another, including employee records, compensation values, accrual data, cost center reports, benefits assignments, etc. System formats and data structures constantly vary, often requiring manual data entry and aggregation in large spreadsheets, simply to transform data and upload it to the new system. Often this data can be locked in PDF documents, reports and output files.
Instead of manually imputing and transforming data, splitting rows, or manipulating formulas, calculations & vLookups, Monarch enables any HR analyst or implementation services rep to automate the data access, transformation and blending data from any payroll or HR system.
See How to Quickly Convert a PDF to Excel for Easy Migration
Quickly address all logistic tasks necessary to address termination incidents
Termination & IT System Access Reconciliation
Employment termination procedures often span multiple departments and require several actions to ensure compliance and mitigate risks. Additional challenges arise with larger organizations that employ workers across multiple locations, including international and remote/home workers. While HR must file appropriate documentation with payroll, benefits, etc. and collect company-issued materials/equipment, IT staff face the daunting task of reconciling employee terminations with their system access. This process of taking employee termination reports and blending that data with Employee User Names, IDs and passwords is critical, yet time consuming and manual.
Monarch Complete allows users to quickly and easily extract data from enterprise reports and easily join data with other sources for instant and accurate data reconciliation.
Easily track employee skills and certifications to improve workplace efficiency and training opportunities
Skills and Certification Reports
Keeping tabs on your employees’ skills and certifications status is critical for both operations managers and HR. In addition to compliance risks, maintaining employees’ practical knowledge of industry standards impacts service quality, brand credibility and customer satisfaction. For HR to analyze gaps in training, skills and certifications across employees requires data from HR systems, learning management systems, performance management systems and more. With a self-service data preparation tool, HR can easily pull in data from virtually any data source and join/blend them together into a comprehensive view for analysis, visualization or reporting.
Continuing education credits, license or registration information, membership status, onboarding and compliance training, progression training and internal and external learning courses, even background verification and skill assessments, can be easily aggregated and joined into a common format, and exported to Excel or any BI or analytics tools.
See How Simple Joining Disparate Sources is with Monarch