New Solution from Paycor Helps Business Leaders Coach and Retain Their Workforce
CINCINNATI, OH – March 24, 2021 – Human Capital Management (HCM) company Paycor today launched Paycor Career Management, a solution that gives Human Resources (HR) and business leaders the ability to structure and execute succession strategies that will drive employee engagement, remove the complexity from succession planning, and improve overall business outcomes.
Employees want more growth and development opportunities and the main reason they leave companies is because they’re not getting enough of it. According to the 2019 Deloitte Global Human Capital Trends report, “To fuel growth, organizations need to more effectively tap their current workforce to identify and deploy people with the required skills, capabilities, motivation, and knowledge of the organization, its infrastructure, and its culture. Creating better programs to facilitate internal mobility can pay off in multiple areas: growth, employee engagement, and business performance.” But, Deloitte continues, not all companies do internal mobility well.
Oftentimes, employees lack a clear understanding of role expectations from their managers or the organization. This misalignment of expectations can lead to incorrect feelings of personal progression and ultimately harm career development.
Paycor Career Management gives employees support and the opportunities they are craving for their career development resulting in increased employee efficacy, increased perception of value, and ultimately reducing turnover. Companies remain competitive by developing and retaining their employees which is six times less expensive than replacing them. Paycor Career Management provides companies a way to create better career strategies, facilitate internal movement, and identify talent risks. Managers and employees can clearly define role responsibilities and set expectations together so that employees receive feedback that’s specific to them and their growth plan.
Key product features include:
- Role & Growth Profiles – Leverage role responsibility profiles to ensure employees are meeting expectations and where they can improve.
- Competency Determination – Add expected assessments to indicate where an employee stands relative to their existing role or future roles.
- Job Assessments – Evaluate responsibilities in an assigned role to make sure there is alignment in expectations.
- Talent Attributes – Compile employee insights to make proactive decisions and track the career progression of your workforce.
- Role-Based Reviews – Responsibilities can be assessed directly in a review, making for one simple workflow during the review cycle.
Paycor Career Management is now available for prospects and current clients. For more information, please click here.
“Career management is effective when it isn’t just a one-way dialogue only coming from the top,” said Ryan Bergstrom, Chief Product Officer at Paycor. “With Paycor Career Management, we enable front line leaders to be more effective by allowing them to invite their employees to take an active role in the development and activation of their career development plans.”
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Paycor creates HR software for leaders who want to make a difference. Our Human Capital Management (HCM) platform modernizes every aspect of people management, from the way you recruit, onboard and develop people, to the way you pay and retain them. But what really sets us apart is our focus on business leaders. For 30 years, we’ve been listening to and partnering with leaders, so we know what they need: HR technology that saves time, powerful analytics that provide actionable insights and dedicated support from HR experts. That’s why more than 40,000 medium & small businesses trust Paycor to help them solve problems and achieve their goals.
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