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Paycom Stands Out with Latest Accomplishment

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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.



Author Bio: A writer, speaker and young business leader, Jason has been the communications pulse for a number of organizations, including Paycom. A featured writer on human capital management technology, leadership and the Affordable Care Act, Jason launched Paycom’s blog and social media channels, helping empower organizations around the nation. Jason is attuned to the needs of businesses and recently helped develop a tool to aid organizations in their pursuit to comply with the ACA; one of the largest changes in healthcare the country has seen. While working in athletics for ESPN and FoxSports, Jason learned the importance of hard work and branding. In his free time he enjoys adventuring with his family, reading and exploring new areas to strengthen his business acumen.

Hire to Retire-CRAY

From Hire to Retire: Guiding Top Talent Through to the Finish Line

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Retirement is an inevitable stage of the employment journey. Even high performers hang up their hats eventually. But to retain them up until retirement, organizations must be willing to optimize every stage of the employee lifecycle – from recruiting through offboarding.

Recruiting for the long-term

First impressions are the most lasting. To recruit people who are right for the job – and will be for the long haul – employers must generate a positive impression from the outset. You might:

  • Create an employer brand so that candidates can learn about your culture and decide whether they’re a fit for your company.
  • Be clear and specific about job requirements to lower the likelihood of unsuitable candidates and to help new employees better understand their roles.
  • Develop strong onboarding strategies that favorably shape employee experiences. Consider communicating what employees should do and what assistance is available to them, and allow for flexibility.
  • Improve recruiting and hiring functions through HR technology. For example, the system lets candidates apply for jobs online and takes new hires through a paperless onboarding process.


Manage, engage and retain

Today’s multigenerational workforce demands that business leaders manage people differently. From traditionalists and baby boomers, to Generation Xers, millennials and Generation Z, each comes with their own expectations, priorities and values.

And employers are realizing how getting it right can positively impact their business.

In a survey by the Harvard Business Review, 71 percent of executives viewed employee engagement as very important to achieving organizational success. Not only can proper management and engagement of employees help your business achieve organizational goals, it is the key to retaining top talent of all ages.

For example:

  • Learn what motivates each generation and appreciate the value that their differences bring to the organization.
  • Develop programs that encourage generations to collaborate and share their knowledge with each other.
  • Create policies that will help meet the unique needs and expectations of each generation.
  • Engage employees through self-service technology, training, stay interviews, feedback and consistent policies and procedures.
  • Reward high performers for a job well done.

According to the UNC Kenan-Flagler Business School, ultimately, all generations are seeking meaningful work, opportunities to learn and grow, work-life balance and to be treated fairly and with respect.

All good things must come to an end

Every employee leaves the workforce at some point. At this stage of the lifecycle, the employment relationship has ended, but it’s no less significant than other stages of the journey. The separation process has many components, including compensation, benefits, exit interviews and succession planning. The goal is to make the process as smooth as possible. Check out a few ways you can make this happen:

  • Handle the separation carefully, without discrimination.
  • Let high performers know that the door is open for their return.
  • Conduct exit interviews to get the departing employee’s input on the company.
  • Automate your offboarding process to reduce errors and increase efficiency.
  • Have a succession plan for recruiting and retaining employees who will be taking over the responsibilities of departing top talent.

Prior to retirement, there’s the professional journey that employees want to remember as a meaningful work experience. Organizations can help fulfill this desire by enhancing processes relating to the employee lifecycle.


craymond

by Chad Raymond


Author Bio: With over 19 years of experience in employee engagement, benefits administration and government compliance, Chad has unparalleled knowledge in the fields of leadership and human resources. Chad has worked in several different capacities with Paycom including leading our product development team and HCM initiatives as well as the former director of Paycom’s service department. Chad’s vision and execution helped empower executives and their teams to reach their full potential, ultimately leading to his new role as Paycom’s vice president of HR.

Talent Acquistion-Man Pointing

5 Strategy-Building Tips to Help You Attract Top Talent

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The terms “recruiting” and “talent acquisition” are often used interchangeably, but there’s a fundamental difference between them. Although recruiting is a part of talent acquisition, it takes a more reactive approach to filling positions – that is, the focus is on filling current openings. Talent acquisition is more concerned with identifying future organizational needs and building a talent pool that targets the specific business segments, rather than filling an immediate need. It also involves going beyond recruiting in order to secure the right person for the job and the employer’s brand. The secret to finding high-performing employees lies in understanding the talent market and forming an acquisition strategy.

When done right, talent acquisition can help you find the most suitable person for the job and recruit for roles that didn’t exist before.

The skills gap continues to widen

There’s no shortage of people applying for jobs, but in virtually all industries, there’s a lack of workers with the skills needed to meet current and future business needs. For example, a 2015 survey by the Manufacturing Institute and Deloitte showed that over the next decade, almost 3.5 million manufacturing jobs likely will need to be filled and the skills gap is predicted to cause 2 million of those positions to go unfilled.

Closing the gap with a talent acquisition strategy

Finding high performers is no simple feat, so what’s needed is a strategy that will take you to them. You might:

  1. Examine the key skills needed to ensure business goals constantly are met. As your industry grows, so do the skills needed within your organization. Focus on hiring people whose expertise will remain relevant for a long time rather than becoming redundant within a few months.
  1. Conduct a skills gap analysis to gauge current talent trends and market conditions. By identifying the skills gap early on, you can determine the size of the potential candidate pool and devise a strategy for reaching the talent you seek.
  1. Create an integrated communications strategy to attract potential candidates. Applicants with in-demand skills have choices, so you must make it easy for them to interact with your company from the start. You can, for instance, communicate with candidates by leveraging the strengths of the internet and HCM technology.
  1. Evaluate and improve your candidate-screening practices. Conducting face-to-face interviews and reviewing résumés can help you narrow down candidates, but those methods also can be time consuming. There are more efficient ways to select strong candidates, such as searching within the walls of your organization. By sourcing positions from within, you help create a culture that promotes growth and development.
  1. Make talent acquisition a part of your HCM solution. New employees want to be engaged not only at the application stage, but also during hiring and onboarding. A single-platform system will make application, hiring, onboarding and relationship management processes go more smoothly while keeping you in compliance with employment laws.

Superstar employees are not a dime a dozen – they’re tough to come by. But, with a carefully planned and executed strategy, you can find the winning talent you need.


tiffany.mcgowen

by Tiffany McGowen


Author Bio: McGowen joined Paycom as the Director of Recruiting in 2011 and is responsible for the oversight of the staffing for its corporate headquarters in Oklahoma City along with the growing nationwide sales force. Tiffany has 9 years of recruiting experiencing after working for Robert Half Finance among others. In addition, Tiffany works closely with her husband in growing their small business ventures.

ToolKit

5 Worth-It Tools for Advanced HR Management

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Remember when the human resource function within most companies was largely administrative? Josh Bersin paints the picture perfectly when he describes traditional HR as being “focused on service delivery, staying efficient and reducing cost and headcount.”[i] But, times are changing. HR’s realm of responsibility – and the impact it has on the business at large – continues to grow. Advanced practitioners need robust technology that can keep up with their ever-growing list of expectations.

The ideal HCM solution contains five applications: talent acquisition, time and labor management, payroll, talent management, and HR management. Each has its own functions, which when combined into one application, represents the total package.

  1. Talent acquisition

According to the National Business Research Institute, one poor hiring decision could cost your company between $25,000 and $300,000, depending on your industry. A single-platform HCM solution with talent acquisition functions makes it easier to hire the right people while simplifying other recruiting and hiring processes. Tools include:

  • candidate tracker, which allows you to monitor those candidates with potential but have not yet applied for a position
  • applicant tracker, which shortens the process of moving applicants through to onboarding
  • tax credits, which secures available tax credits
  • background checks, which verify whether applicants are qualified

 

The ideal system also has onboarding and E-Verify® tools – plus talent acquisition analytics – to help you streamline your hiring processes, comply with government regulations and gain insight into recruiting productivity.

  1. Time and labor management

The Fair Labor Standards Act does not mandate that employers use a specific timekeeping system to record hours worked, but it does require that employers use a system that is accurate and complete. Therefore, a time and labor management suite is an important addition to any HCM solution.

System capabilities should include:

  • flexible timekeeping, such as web-based time clock, hardware terminal or online time sheets
  • functionality that combats time theft by eliminating “buddy punching”
  • a convenient platform for employees to manage PTO requests
  • integrates time and labor with payroll processes to control labor costs and eliminate errors caused by double entry

 

  1. Payroll

Payroll is perhaps the most critical of all five processes to your employees because it directly concerns their paychecks. Payroll is a broad and far-reaching process with serious compliance implications with regards to wages, benefits and taxes. A single-database HCM solution that simplifies payroll processes and keeps you in compliance is vital to keeping employees – and the government – happy. Some essential tools are:

  • online payroll processing
  • payroll tax management
  • wage garnishment management
  • expense management
  • payroll analytics
  • check reconciliation
  • mapped general ledger reports for import into your accounting software

 

  1. Talent management

Organizations need the best talent in order to thrive in today’s ultra-competitive and increasingly complex global economy. Managing talent is critical to achieving a competitive edge, but it’s also a challenging undertaking that involves several key elements, including developing, engaging and rewarding talent to enhance performance and boost retention.

Equipped with talent management tools – including performance management, employee self-service and compensation budgeting – a five-tiered all-in-one HCM solution plays a powerful role in growing talent and your business.

  1. HR management

The most comprehensive of the five applications, human resource management is the function that deals with your organization’s most valued asset: the people working there. All activities impacting people fall under HR management, including hiring, compensation, performance management, safety, wellness, organizational development, benefits, administration, training, communication and employee motivation. A well-rounded solution will have the tools you need to optimize those processes, including:

  • employee and manager self-service
  • surveys for soliciting feedback
  • enhanced ACA
  • COBRA administration

 
Some HCM solutions take a fractured approach, partially catering to organizational needs. The ideal solution, however, takes a united approach, satisfying all the key elements of human capital management.

[i] Bersin, Josh, “Why Does HR Get So Much Grief?”, Forbes, forbes.com, August 2014.


amy.double

by Amy Double


Author Bio: Amy, a tenured professional in sales and marketing with over 10 years of experience, is dedicated to creating content focused on helping organizations achieve their business goals. As an experienced writer, Amy is committed to researching and blogging about topics that affect businesses across multiple industries, including manufacturing, hospitality and more. Outside of work, Amy enjoys reading, entertaining and spending time with family.

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