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.
WOTC Transition Relief Date Extended
June 28, 2016 | Posted in Blog, Tax Credits
Here’s some good news for Work Opportunity Tax Credit (WOTC) employers: On June 17, the IRS issued a notice offering additional transition relief for employers claiming the WOTC. Notice 2016-40 extends the transition relief previously provided by Notice 2016-22 by three months, to Sept. 28.
The updated notice provides guidance and additional time for employers who:
- Hired or hire members of targeted groups (other than long-term unemployment recipients) on or after Jan. 1, 2015, and on or before Aug. 31, 2016.
- Hired or hire members of the new targeted group of qualified long-term unemployment recipients on or after Jan. 1, 2016, and on or before Aug. 31, 2016.
Notice 2016-40 provides the transition relief for employers claiming the WOTC under Sections 51 and 3111(e) of the Tax Code as extended and amended by the Protecting Americans from Tax Hikes Act of 2015, commonly referred to as the PATH Act. The first notice providing transition relief, Notice 2016-22, came in March.
The PATH Act, passed by Congress in December 2015, amended the Tax Code to extend the WOTC through Dec. 31, 2019. This act also amended the Tax Code to expand the targeted groups (employment of individuals who may qualify an employer for a credit listed in the statute) to include qualified long-term unemployment recipients.
A qualified long-term employment recipient is any individual who – on the day before the individual begins work for the employer, or, if earlier, the day the individual completes Form 8850 – is in a period of unemployment that is not less than 27 weeks and includes a period (which may be less than 27 weeks) in which the individual received unemployment compensation under state or federal law.
Is Your HR Technology Finding You Tax Credits?
Your HR technology solution should play a pivotal role in helping to find tax credit opportunities that can drive value for and deliver bottom-line tax savings to your company. Billions of dollars are available to company owners as federal tax credits, so why not take advantage of them? Paycom’s risk-free Tax Credits service identifies, secures and administers these government incentives available to improve your company’s financial performance. If no credits are located, you pay nothing!
Autonomy in Workplace Learning: Invest in Your Employees, Invest in Your Business
June 24, 2016 | Posted in Blog, HR Management, Learning Management
The one-size-fits-all approach to workplace learning isn’t perfect. Attendees sit in large, group settings, taking in the same information. Then, they have to figure out how to make it work for their particular situation. Because we know that employees require customized training to fit their specific needs, many companies are leaving old methods behind and letting employees take control of their professional development.
A culture of autonomy
Today, employees can solve problems on the fly. When they are away from work and encounter an issue, they instinctually turn to popular search engines. In a matter of seconds, employees have figured out how to fix a leaky pipe or patch a hole in the wall.
This is how employee training should be at work. It is the organization’s role to provide quality resources employees can turn to whenever they need them.
Power up employee training
How can you power up automated employee training at your organization? Utilizing a learning management system (LMS) can help streamline the process. With an LMS, you can:
- create customizable training content,
- automate the grading process,
- track the success of courses with predefined reports and
- store all content in one conveniently accessible dashboard.
This imperative shift is more than just an investment in employees; it’s an investment in your business. When employees feel a sense of autonomy at work, productivity increases and their impact on the business grows.
This autonomous approach to learning is coming alive in businesses, as more and more find that it really pays off.
In fact, studies show that organizations with an LMS experience:
- a 60 percent increase in retention
- a 50 percent boost in productivity
- 26 percent more revenue generated per employee
- a 75 percent increase in employee engagement
Employee-driven learning may take some getting used to for many organizations, but those that choose to make the commitment will reap the benefits.
6 Tips for Using ‘Stay’ Surveys to Retain Your Best Teachers
June 15, 2016 | Posted in Blog, Education, Employee Engagement, HR Management, Industries
Teacher attrition is a complicated phenomenon that impacts every school differently. But, strategically managing it can help you focus retention efforts on high-value teachers, effectively using their feedback as a resource toward keeping great teachers and boosting student achievement.
All turnover is not created equal
Over the past decade, the idea of “healthy turnover” has gained traction with private-sector businesses. It’s built on two basic premises:
- Turnover among high-value employees is more detrimental than turnover among low-value employees.
- Because the cultural, operational and financial costs of replacing high-value employees are incredibly high (some predict the cost is as much as two times the employees’ salary), employing proactive strategies designed to retain them is important.
One of these retention strategies involves conducting “stay” interviews and surveys among currently employed, high-value employees. Interview and survey questions are designed to reveal why those employees stay and what could trigger them to leave. Luckily for schools, successfully implementing this strategy doesn’t require private-sector levels of flexibility or resources.
How to implement your stay-survey strategy
Schools can use stay interviews and surveys as a retention strategy, too; all it takes is time and a robust survey tool. Here are six tips to help you get started:
- Plan ahead. Who will see teachers’ feedback once you receive it? When will you follow up with the teachers who participated? How will you show them that their feedback led to change? Establishing a process in the beginning can help information flow smoothly, and open communication is the cornerstone of successfully implementing this strategy.
- Identify your high-priority subjects and interview or survey them first. To discover who among your staff is a high priority, the HR Daily Advisor blog suggests categorizing each teacher according to value (high, medium or low) and flight risk. Then, start the interview or survey process with high-value teachers who are most likely to leave.Also, keep in mind that “high-value” doesn’t have to be synonymous with “superstar.” Depending on your situation, “high-value” could apply to inexperienced teachers with potential and medium-value teachers dedicated to improvement. The most important thing is to customize the process to meet your school’s specific needs.
- Set expectations, not limitations. Just because you may not have the power to enact wide-sweeping changes doesn’t mean big topics should be off-limits. When high-value teachers have high-level concerns, start by letting them know you’ll do everything in your power to help them. Then, dig deeper, like the Waukesha School District in Waukesha, Wis., did.According to a 2015 article in the American Association of School Personnel Administrators’ Best Practices newsletter, after conducting stay interviews, the district found that high-level teachers were experiencing stress and pressure from heavy workloads. The ideas of stress and pressure seem too big for one person – or even one district – to handle. But when the district asked follow-up questions, it discovered that the increased workload was a result of the district’s perpetual reorganization of initiatives. Searching for specifics can help you find the problem’s root, and fixing that may be well within your control.
- Make organizational questions about issues, not people. Instead of asking teachers their thoughts on administrators, colleagues or evaluators, ask which processes they would change and why. This may draw honest responses from those who otherwise might be afraid to give them.
- Balance the negative with the positive. Identifying and discussing high-value teachers’ pain points is vital toward retaining them, but that doesn’t mean the interview or survey has to be all bad. Balance it with positive, insightful questions. For example, if you ask what would trigger a teacher to leave, follow with a question about why he/she stays.
- Follow through. Be ready and able to follow up with high-value teachers about their feedback and show them how it influenced improvements. But, don’t stop there. Use interviews and surveys to monitor the success of the changes you’ve implemented. Continually check in to see how those improvements are holding up as a retention tool for your high-value teachers.
Using the right human capital management technology can help reduce exposure to turnover, empowering you to invest precious resources in retention efforts focused on keeping the type of talent that’s good for your students and school.