A 30 min 1-1 per week per report would be a full working day. Never mind that if you're an IC then you'll also be expected to support other people using your code, as well as analysing and approving decisions for your reports.
Hope they're well paid!
IMO it's just efficient to use any excuse to say "what's up, how did the house move go?" or whatever and make sure that you do that with everyone and that you behave in such a way that they don't fear or hate to have a 5 minute chat and know you are ready to listen if they want to say more. i.e. to take an actual interest in each person.