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.
Most Employers Still Unprepared for ACA Forms Mandate
February 2, 2016 | Posted in ACA, Blog
Despite ongoing attempts to challenge the Affordable Care Act (ACA), the U.S. Supreme Court again upheld the law, so the employer mandate still stands and requirements remain. And yet, more than 65 percent of our “Easy ACA for Employers” webinar attendees said they were not ready to file and furnish their 2015 ACA Forms, even though they are required by the federal law.
Silver lining for employers
On Dec. 28, 2015, the IRS announced an extension for the ACA reporting requirements for businesses. Notice 2016-4 extended the original due date for Forms 1095-B and -C from Feb. 1 to March 31, 2016, and Forms 1094-B and -C from Feb. 29 to May 31, 2016. While employers are given extra time to comply, the IRS is ready and willing to accept forms, and businesses are encouraged to file and furnish them as soon as possible, even if that is before the deadline.
Many organizations are still trying to get their reporting needs straightened out, but businesses also should be prepared for a number of significant changes that will occur this year. In addition to the extension, there are three main changes with which employers should be familiar.
- All Applicable Large Employers (ALEs), with 50-plus full-time or full-time equivalent employees, must now pay or play. Although these organizations were given transitional relief in 2015, they must follow guidelines in 2016. They still are required to file and furnish the Forms 1094/95 -B or -C.
- ALEs now must offer health care coverage to 95 percent of their full-time employees. This percentage went up from 70 percent in 2015.
- For 2016, employers facing fines for employees who qualify for subsidies through the exchange will be fined after their first 30 employees, not 80 as the law stated in 2015. The annual penalties for failure to comply are up to $3,000 per full-time employee receiving the credit or subsidy, or $2,000 per total number of full-time employees, whichever is less.
One thing that remains is that the employer mandate is here to stay. Because the ACA is constantly evolving, it is important employers choose an HR software provider that is privy to the latest changes and can handle all of the ACA’s complexities.
4 Ways to Build Employee Confidence and Increase Engagement
January 26, 2016 | Posted in Blog, Leadership
Employee engagement is a highly-talked-about topic. Everyone has their own ideas about what works. But whatever you think about employee engagement, you should know that confidence is important.
Employees with a healthy level of confidence can achieve new goals and develop bigger and better ideas. A staff that feels confident is more engaged and can be more productive. Unfortunately, just as confidence can be built, it also can fade away.
According to one workplace expert, the most common reason employees lose confidence is because of a bad relationship with the boss. Negative peer relationships at work can damage confidence, but since leaders play a critical part in an employee’s future, they have the greatest impact on confidence levels.
The good news is that employees’ confidence is something you can change and preserve, with a little influence.
So, how can leaders build and maintain confidence among the members of their team? There are several approaches, but here are four we’ve outlined for this blog:
- Align responsibilities with capabilities. It’s important employees are set up for success. Find out what their strengths are and then align their responsibilities with those talents for optimum results.
- Acknowledge success. Don’t assume people know you appreciate their work; tell them. It’s a nice reminder every once in a while, not to mention a simple motivator, especially if a respected leader in the organization is giving recognition.
- Embrace innovation. Your employees have wonderful ideas; encourage them to share. Paycom’s chief operating officer started an initiative called the Paycom Innovation Awards. Although she does a good job of consistently recognizing and encouraging creative thinking, the awards offered extra incentive. Employees presented many ideas and were judged on a set of criteria. The very best took home a prize and, to this day, have their names etched on a plaque for everyone to admire.
- Identify people’s talents and find ways to use them. There is more to people than meets the eye. For example, there is a webmaster on our team. He’s great at what he does and he’s also quite the artist. His illustrations elevate our blog and make it unique. Find out what employees are passionate about doing and find ways to use these skills at work.
Leaders who are committed to building their teams are far more successful in gaining the respect they desire. A respected leader backed by a confident team is the key to great results. Making a conscious effort to improve confidence among employees is a good investment. In fact, it could make a big difference in your organization’s long-term stability.
Yet Another Case Challenging ACA Rejected by Court
January 21, 2016 | Posted in ACA, Blog, Featured
Yet Another Case Challenging ACA Rejected by Court
The latest challenge against the Affordable Care Act (ACA) has been rejected after the U.S. Supreme Court refused to hear a case questioning the source of the law’s origins.
Matt Sissel, a Washington artist, contended that the law was unconstitutional because it was a revenue-raising measure that started in the U.S. Senate, as opposed to the House of Representatives as required by the U.S. Constitution’s Origination Clause.
On a technicality, some Democrats pushed back, stating the bill originated in the House when the legislation first focused on homebuyers’ credit for military members; later, it that legislation became the ACA.
In a 2014 ruling, a three-judge panel of the U.S. Court of Appeals for the District of Columbia ruled against Sissel. His request for a rehearing before a full panel of judges also was rejected. After the Supreme Court voted to uphold insurance premium subsidies under the ACA in the King v. Burwell case, many legal experts believed the chances of Sissel winning his case were slim.
What this means for employers
Despite numerous and continuing attempts to challenge the ACA, the law still stands. The ACA remains in full force and it does not appear that it will be repealed anytime soon. Employers should continue to track information, report and file as the government requires. For complete compliance, consider utilizing HCM software designed to handle all of the ACA’s complexities. Paycom’s Enhanced ACA solution is designed to add accuracy and simplicity to your ACA reporting tasks.
The content of this blog is intended to keep interested parties informed of legal and industry developments for educational purposes only. It is not intended as legal opinion or tax advice and should not be regarded as a substitute for legal or tax advice.