Paycom Stands Out with Latest Accomplishment
August 14, 2013 | Posted in Blog
Paycom continues to rake in the accolades, this time garnering its 11th-consecutive appearance on the Greater Oklahoma City Chamber’s Metro 50 list. Of the Metro 50 winners, Paycom’s 11-year reign of consecutive appearances is the most of any of the companies on the list.
“This is huge honor to be the longest-running member on this distinguished list,” Paycom founder and CEO Chad Richison said. “But even more, this award is an indicator that our unique business model has resulted in continued, steady and sustainable growth.”
The Metro 50 event is scheduled for Sept. 23 at the National Cowboy and Heritage Museum in Oklahoma City where rankings of all of the Metro 50 winners will be announced.
The accolade showcases the metropolitan’s fastest-growing private companies. Qualified companies are required to have revenues of at least $1 million for the previous year and will be ranked based on their percentage of annual growth.
Growth is the name of the game at Paycom. In the last 12 months, the online human capital management provider announced rapid growth with an addition to its headquarters and added the Inc. Hire Power Award which recognizes private companies that are leading the way in job creation. Stay tuned for more exciting news from one of the fastest-growing companies in America.
NYC Employers Must Offer Pre-Tax Transit Benefits in 2016
November 25, 2015 | Posted in Blog, Employment Law
As of Jan. 1, 2016, New York City private employers with 20 or more full-time employees will be required to offer pretax transit benefits to their full-time employees. The new law is enforced by the Department of Consumer Affairs (DCA) and employers who do not already offer these benefits will need to have a program in place when the new law takes effect, or face penalties.
For the purposes of determining eligibility for the New York City transit benefits law, qualifying individuals must be of full-time status. This law defines full-time status as those working an average of 30 or more hours per week. These employees will remain eligible for the duration of their employment, regardless of if the employer’s workforce drops below the 20-employee threshold.
The DCA will allow employers a six month grace period to comply before imposing penalties. First violations will cost between $100 and $250, while penalties for subsequent offenses will cost the ladder, $250 per violation.
First offenders will receive a 90-day window to cure an offense. If the employer is able to comply within this timeframe, penalties will be avoided. However, if after the 90 days an employer fails to take action, they will be charged a $250 fine every 30-day period in which compliance is not met.
How it helps
The new law may bring benefits for both employers and employees. Employers can save by reducing payroll taxes. Not to mention, transit benefits are incentives to attract potential candidates. On the other hand, employees can reduce the amount of income tax they pay and their commuting costs are tax-free.
Saying ‘Thank You’: Taking It Back to the Basics
November 24, 2015 | Posted in Blog, Featured, What Employees Want
I’m sure I’m not the only one who has heard, “Now, what do you say,” after receiving a gift or kind gesture. We were schooled to be respectful from the time we were toddlers. We said, “thank you,” sometimes because Mom said so, but mostly because it showed gratitude. And it’s the right thing to do.
The age-old saying of “Treat others as you would want to be treated” holds true. However, somewhere along the way, we’ve adopted a different kind of behavior, especially in business. It’s time we go back to the basics.
A business’ most appreciable asset is its employees. In order to sustain success, you need them, so treat them right. Perks alone won’t do the trick. Sometimes a simple “thank you” or sign of appreciation will go a long way.
It sounds simple, but businesses seem to have challenges showing employees appreciation, and it cannot be forced; appreciation should be authentic and deserved. Otherwise, it’s worthless.
The good news is Thanksgiving is right around the corner, so it’s an opportune time to refine your delivery. Here are a few tactics you can start implementing today:
- Deliver a “thank you” in person. While an email may be easier, it can come across as insincere. Thanking someone in person enhances your presentation. Whenever you have a chance to positively impact someone’s day, do it … in person.
- Write a note. A handwritten note is powerful because it’s personal and unexpected. You appreciate what someone did for you and that’s why you want to show your thanks, so make it special and put in the extra effort to write them a note.
- Replace “but” with “and.” When corrective action is necessary, avoid criticizing the offender; instead, start the conversation with a positive spin. This isn’t a revelation; it’s something employers have tried to master for some time. However, where they go wrong is by using the word “but.” For instance, “Sarah, your report was good, but I’d like to see…”The word “but” completely negates any compliment that preceded it. Instead try it like this, “Sarah, your report was good, and I’d like to see…” Using “and” in place of “but” will help to ensure the positive feeling sticks around.
A trend that should start with leaders
Showing appreciation is a skill business leaders should exercise more often. Plenty of articles exist on employee engagement, yet over half of the workforce remains disenchanted. Flashy incentives garner an uptick in engagement at first, but it’s the sincerity of business leaders and the effort to do the right thing that will outmatch any perk.
Encourage leaders to practice positive talk. Host sessions on appreciation best practices and ensure leaders are following through. If you want to bring positivity to work, start at the top and allow the behavior to saturate the rest of the organization.
5 Reasons Employee Training Is Worth It
November 20, 2015 | Posted in Blog, Employee Engagement, Talent Management
Poor performance results from people who do not know what they’re supposed to do, how they should do it and why they are doing it. Companies that invest in training reap the rewards of improved retention rates, productivity and customer satisfaction. Well-trained employees come at a cost, but in the long run, make up a better workforce.
Many business owners lose sight of the importance of employee training. They either don’t have the time or don’t have the money to invest.
While I would agree that these are valid statements, I would argue that they are only excuses. Employee training does require time and money, but the cost is worth the investment.
In fact, here are five reasons that prove it:
- Untrained employees are unproductive employees. Employees who don’t know how to do their job correctly or efficiently will be less productive than those who are well-trained. Underperforming employees can be a big burden for a business and an even bigger cost.
- Lack of training can lead to turnover. According to go2HR, a recent study showed that “40 percent of employees who received poor job training left their positions within the first year.” Not only will you pay for losing an employee, at nearly 20 percent of an employee’s salary for mid-range positions, but now you have to invest the time and additional funds into finding a replacement.
- Happy employees, happy business. Employees who understand how to do their jobs well are likely to be more satifisted in their role. Happy employees are more engaged, are more productive and want to contribute beyond their specified job duties.
- Employee development is crucial for a business. If you believe the development of your employees is important, remember training can contribute to that. Employees who feel supported by their business are more likely to want to grow professionally and stay dedicated to the business long-term.
- E-learning makes it easier! The good news is technology has made training much E-learning is a more modern and most time-sensitive way to train employees, who are able to conveniently access training opportunities through cloud-based learning platforms. This type of system can empower employees to grow and develop within their role, and at a faster rate than their untrained counterparts.
The upfront cost of training may seem daunting, but the long-term gain is immeasurable. Well-trained employees can come at a cost for a business. Is that cost really worth it? For the five reasons above, I would argue that it is absolutely worth it.