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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.

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EEO Reporting: The Basics and Tools for Compliance

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As an organization grows, so does its responsibilities. Case in Point: Employers with 100 or more employees are mandated by federal law to file an Equal Employment Opportunity (EEO-1) report annually. The report is a compliance survey that requires employers to categorize their employment data by race/ethnicity, job category, and gender. To comply with EEO-1 reporting laws, employers must file accurate and timely reports with the federal government. This can be achieved by having a firm grasp of the EEO-1 and utilizing technology that bolsters the reporting process.

Who Must File an EEO-1 Report?

Employers with 15 or more employees must adhere to Title VII of the Civil Rights Act of 1964, but only the following must file an EEO-1 report:

  • employers with 100 or more employees
  • employers with fewer than 100 employees but are controlled, affiliated with or owned by a company with at least 100 employees
  • employers with 50 or more employees and with a federal contract or subcontract equaling $50,000 or more
  • employers who have 50 or more employees and serve as a depository of government funds or as an issuing or paying agent for U.S. Savings bonds.

What Is EEO-1 Data Used For?

EEO-1 data has been used since 1966 by both the Equal Employment Opportunity Commission (EEOC) and the Office of Federal Contract Compliance Programs (OFCCP). The EEOC uses the information to evaluate employment patterns, such as the way in which minorities and females are being represented in the workforce. The OFCCP uses the data to determine which employers should undergo compliance evaluations, such as those with the most likelihood of systematic discrimination.

How Many Forms Must Be Filed Each Year?

Single establishments, which are organizations that conduct business at one address, must file one EEO-1 report (on Standard Form 100) each year. Multiestablishments, which are companies that do business at more than one address, must file multiple EEO-1 reports per year, including Type 2 (Consolidated) report and Type 3 (Headquarters) report.

Where Does Technology Fit In?

Completing the EEO-1 report is just one phase of the process. To ensure employees are categorized according to job, ethnicity/race and gender, employers must track, store and analyze recruitment data – all of which takes valuable time and painstaking attention to detail. Human capital management (HCM) technology takes the stress out of EEO reporting while helping employers comply with other aspects of equal employment opportunity.

The ideal HCM system:

  • contains multiple EEO-1 reports and automatically populates employment data in the format needed for accurate submission.
  • helps you stay on top of EEOC decisions and changes in reporting requirements.
  • allows you to evaluate your company’s hiring approach through EEOC-related metrics. You can, for example, run reports that reveal demographics for certain positions.
  • delivers a secure platform for storing EEO-1 data, which is confidential under federal law in most cases.
  • improves accuracy while reducing organizational exposure to violations, audits and penalties.

When Are EEO-1 Reports Due?

Employment data for the EEO-1 report must be based on one pay period in July, August, or September. For 2016, the report is due by September 30, preferably submitted through the EEO-1 Online Filing System. Note that the EEOC has proposed changes that will require employers to add W-2 earnings and hours worked to the EEO-1 report.

Consequently, starting with the 2017 report, the deadline will be March 31st of the year following the report year. This means that the deadline for the 2017 report is March 31, 2018.

With the proposed revision of the EEO-1 report comes additional responsibilities for employers, making HCM technology even more essential to compliance.


Lauren Toppins

by Lauren Toppins


Author Bio: Lauren Toppins is Paycom’s Corporate Attorney and has served as the head of the legal department since 2010. Prior to joining Paycom, she served in a general counsel role for three years. In addition to her Juris Doctor, Toppins also holds her Senior Professional in Human Resources (SPHR) certificate. Prior to her position as corporate attorney, Toppins managed Paycom’s human resources department. Toppins’ practice focuses on employment law, corporate law, intellectual property and information security law. In her role as corporate attorney, Toppins leads a taskforce that conducts periodic reviews of existing employment laws as well as newly implemented laws and pending litigation. In addition, Toppins spearheads a quality management program through which she obtained ISO 27001 and 9001 certifications for Paycom. In her spare time, Toppins also serves her local community by serving on the committee of the OKC Chamber Greater Grads program.

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4 Ways to Evaluate HR Tech Like a CFO

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In recent years, the gap between finance and HR has narrowed. Among more than 550 CFOs and CHROs surveyed in one study, 80 percent said their relationship has become more collaborative. One factor that has prompted this closer bond is the need to make changes to operating models. Companies continue to transform key business functions, including their HR technology.

This type of enterprise buy can impact a company culturally, functionally and economically, so it is important the HR leader vets HR tech providers with the CFO’s interests in mind.

To do that, remember these four tips:

Tip 1: Look for the total package in one application.

Partner with a different vendor for each application may result in inefficiency, errors in compliance and a lack of comprehensive workforce analytics, because each piece of software performs independently.

So, if you choose to look for the total package from one vendor, be wary of the differences between a single-source solution and a single-application solution.

Vendors that offer a single-source solution typically provide a product set consisting of multiple programs that have been integrated. They may or may not have developed the programs themselves. But with a single-application solution, not only do you reduce your total cost of ownership, but your data workflow is seamless.

Tip 2: Identify the system that specializes in driving out inefficiency with automation.

Without the right technology, time-consuming manual processes could inhibit your business. In HR, this means operating from numerous spreadsheets and paper-based applications, hiring forms and benefits enrollment. Avoiding errors, losses and employment law violations may be three reasons for better HR software, but the right technology does not just impact your payroll and HR staff. Even your accounting team can benefit from efficient HR software that can produce payroll general ledger reports mapped to your company’s specifications for easy import into accounting software. The best solution will impact everyone positively.

Tip 3: Search for engagement tools that actually drive performance.

Even employers with the best of intentions can find themselves spending resources on free lunches and on-site gyms, only to lose sight of what true engagement means. Ideally, you will want to find HR technology that not only promotes employee engagement, but allows you to leverage that engagement to drive actual business results. In fact, a recent Gallup study indicated that companies that increase their number of talented managers and double the rate of engaged employees achieve, on average, 147 percent higher earnings per share than their competition.

Tip 4: Find a vendor committed to continuous improvement.

Let’s face it: There will always be changes in employment laws, and the economy will continue to impact how companies hire, motivate and retain employees. Make sure the technology vendor you vet will serve you long-term. Here are a few important questions to ask:

  • When was your last software update?
  • How many software updates were released in the past year?
  • How quick were you able to implement sudden compliance-driven updates?
  • Do all customers operate in the same software version?

Asking these questions will help weed out any bad seeds and ensure you select a vendor with sustainability. This is important because, a vendor committed to continuous improvement will save you money from potential compliance violations and outdated technology.

Choosing HR software to improve efficiencies and help drive organizational performance is a critical decision – one that requires a united front between both the CFO and the CHRO. Identifying the right system that can provide the best functionality to meet all parties’ needs not only will add value to the company, but also will strengthen the bond between HR and the CFO.


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.

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3 Ways to Safeguard Your Company’s Culture

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Founders and early employees are the ones who develop the company’s cultural blueprint. If not intentionally managed, the culture can dissipate.

As a new manager, it’s easy to manage the existing culture with the current population of team members. As you begin to hire additional employees to fill the ranks, sustaining the culture that once was becomes more and more difficult.

To ensure your company culture grows at the same speed as your business, consider these three safeguards.

1. Survey your employees. Your employees are on the front lines and, therefore, have the most valuable information, yet over 75 percent of our prospective customers who attended our recent webinar, “8 Engagement Strategies to Drive Performance,” reported not having a strategy in place to survey what their employees want/need. If you want to know what’s happening to make a difference in culture, you have to ask.

Today I received a friendly message in my inbox from my employer, Paycom. It read, “You have been invited to complete a short survey. Your honest feedback is greatly appreciated and will be used to make improvements in the workplace for current and future employees.” I know they are good on their word, so I filled it out.

Depending on what information you are seeking, you could ask questions such as:

    • What makes you proud to work here?
    • How does the organization support your professional development and growth? How could we improve?
    • Do you feel the organization provides an environment that promotes a culture of open and honest communication?
    • If you could change one thing about the company, what would that be? Why?

The key to an effective survey is follow-up. Again, I knew Paycom was being truthful when they said that my feedback would be used to make internal improvements, because they disseminate the findings from surveys and take action, when necessary. You may not always be able to fix a problem employees bring to light right away, but you still should address their concern and explain why you can’t do anything now or give them an alternative to how you can help. One of the biggest mistakes organizations make in the survey process is failing to disseminate the findings to management and employees.

By giving your workforce a channel to consistently provide its feedback, you are strengthening the lines of communication and building loyalty and retention, all of which positively affect company culture.

2. Train your employees. There are many research studies, articles and experts out there that claim to know the best ways to train employees. And they all might be right. But to train your employees, you might actually need to invest in a learning management system (LMS).

With an LMS, you can train and develop employees online, through a portal. This portal supports all of your branded learning initiatives, which employees easily can access at any time. You’re able to train all types of learners and deliver an assortment of training curriculums. Providing employees with the tools and knowledge they need to succeed at their jobs is a driving force that can assist your organization in meeting your goals, cultural and otherwise.

3. Empower your employees. Employees want autonomy in the workplace. This isn’t new news, and still, 50 percent of our prospect webinar attendees reported not giving employees access to an online self-service portal.

Employees want to feel a sense of control and stability at work. A self-service portal meets these basic needs. Employees easily can access personal information, such as W-2s, pay stubs, time-off accruals and more.

Having this information at their fingertips enhances transparency and fosters a sense of trust. Establishing trust fosters a more open company culture – one of which employees will be proud to be a part.

These three safeguards serve to ensure that as your business grows, so does your culture.

For more insight on employee engagement, access our free, on-demand webinar, “8 Engagement Strategies to Drive Performance.”


hlively

by Heidi Lively


Author Bio: Heidi Lively serves as Paycom’s Additional Business Manager, where she focuses on the compliance and service of additional business products. Previously, she served customers in the Paycom Service Department where she quickly rose through the ranks to earn a team leader position. Having performed in a leadership position for a number of years, Heidi has been able to cultivate and influence others through Paycom’s leadership initiatives. Heidi earned her bachelor’s degree from the University of Central Oklahoma.

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