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.
3 Steps to Fostering a Culture Your Employees Will Boast About
April 29, 2016 | Posted in Blog, Employee Engagement, Leadership
I’m here to let you in on a little secret: If you want an environment in which employees serve and love your customers, you have to serve and love your employees first. At Paycom, we do a lot of things to show our employees we care, including monthly luncheons, surprise snack carts, anniversary flowers and an annual party to celebrate our success, just to name a few.
As a result, 95 percent of our employees say they would recommend Paycom as a best place to work. This is terrific news, especially considering culture is a top concern for businesses.
So what are we doing correctly?
Here at Paycom, we’ve built a culture everyone enjoys and helps to maintain. Each employee is an impact player!
What percentage of employees would recommend your company as a best place to work?
Do you want to foster this same kind of atmosphere at your organization? Here are three easy steps to get you started.
- Serve them. Your employees spend the majority of their time at work: five days a week and sometimes more, if that’s what it takes to get the job done. They make great efforts to serve your customers, and every once in a while, returning the favor is a much-appreciated treat. Pick a day, any day, and have the entire leadership team serve breakfast. Ask leaders to greet employees and thank them personally for their service to the company. The key to success here is bacon; everyone loves bacon.
- Get to know them. When new people join our team, the first thing we do is survey them. We want to know favorite colors, favorite sports teams, prized possessions, kids’ names, number of pets, who they look up to, etc. Why should you care about things like this? Because these are things that matter to your people and so they should matter to you – that is, if you want to cultivate any sort of positive relationship. When you truly understand a person, both personally and professionally, it’s easier to connect and build a sense of trust. Employees who feel respected and cared for are generally happier and more productive.
- Meet with them. Setting goals and expectations upfront is a must, but it isn’t a one-time conversation. Employees need and want regular feedback. Schedule consistent one-on-ones with individuals to evaluate performance and reset goals. Make sure you reiterate what your expectations are, but let that employee establish expectations for his self or herself. Then, be there to hold him or her accountable.
Often, culture becomes something businesses try too hard to control, when in fact, culture is not dictated; it’s organic. Empower your people to participate in creating that culture by following the steps above.
New PBJ Reporting Requirements for Long-Term Care Facilities
April 28, 2016 | Posted in ACA, Blog, Featured, Industries, Long-Term Healthcare, Payroll
The latest in the Affordable Care Act (Section 6106) compliance is payroll-based journal (PBJ) reporting, affecting nursing homes and other long-term care facilities.
What is it?
PBJ reporting will require staffing information to be collected on a more consistent basis than is currently, and also will be auditable to ensure accuracy. The Centers for Medicare and Medicaid has been voluntarily collecting this data since October, but beginning in July it will be mandatory.
The requirements place more burden on the employer for detail on daily staff hours by position, by shift and by location, as well as monthly patient census. Census data includes the facility’s patient head count on the last day of each of the three months in a quarter.
This data can then be used to report on the level of staff in each nursing facility, but also to report on turnover and tenure, which can impact the quality of care delivered.
How will it be collected?
Every quarter, data will be collected. Submissions are due by the end of the 45th calendar day after the last day in each fiscal quarter to be considered timely starting July 1, 2016. Late submissions will be accepted, but are subject to enforcement actions by the Centers for Medicare and Medicaid Services (CMS) and may not be used to calculate a facility’s staffing measures.
Hosted by CMS, the PBJ system will accept two primary submission methods:
- manual entry or
- an XML file upload of data from an automated payroll or time and attendance system.
Manual data entry will require individuals to key information into the PBJ user system. However, for those currently using an automated payroll and time and attendance system, information already is readily available, but must be uploaded following specific guidelines outlined here.
Stay tuned for more information and resources about the PBJ reporting requirements right here on the Paycom Blog.
Billions of Dollars Up for Grabs in Federal Tax Credits
April 18, 2016 | Posted in Blog, Tax Credits
Good news! Tax Day was extended to April 18 this year.
But that’s not all there is to smile about. Billions of dollars are available in federal tax credits for businesses like yours, and you’re about to find out how easy it can be to take advantage of them. Most businesses are not even aware of one of the biggest tax incentive programs out there: the Work Opportunity Tax Credit (WOTC).
Here’s a brief introduction:
- As defined by the U.S. Department of Labor, WOTC is “a federal tax credit available to employers for hiring individuals from certain target groups who have consistently faced significant barriers to employment.”
- Although signed into law in 1996, it’s been around in one form or another since the 1983.
- It’s been reauthorized 19 times since its inception.
- December 18, 2015 marked the first time a five-year reauthorization was passed and, as always, was made retroactive.
This latest reauthorization through 2019 is important for several reasons, one of which is transitional relief. Transitional relief allows employers to recover some tax credits from 2015 without the need to sign the documents on or before the job offer was made and to meet the normal 28-day timeline. And knowing WOTC will be there more long-term lets you plan for company growth in the coming years.
Best of all, claiming tax credits is easier than you think, because Paycom’s Tax Credits solution does 95 percent of the work for you, free of risk. If no credits are located for which your company is eligible, you pay nothing! You can find out more by watching our free, on-demand webinar: “What’s New with Work Opportunity Tax Credits?”
Among previous webinar attendees:
- 70 percent were not taking advantage of available WOTC tax credits.
- 75 percent were not screening applicants for eligibility during the hiring process.
- Nearly 80 percent now plan on taking advantage of available tax credits.
Hopefully that adds a little cheer to your Tax Day.
On-demand webinar: “What’s New with Work Opportunity Tax Credits?”
Calculator: Tax Credits Calculator