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Benefits

HR

The HR Playbook: Reduce Turnover with Employee Benefits

The HR Playbook: Reduce Turnover with Employee Benefits

You know benefits are important to employees, but you might be surprised how big of an impact they actually have on employee turnover. After analyzing data from more than 30,000 medium and small businesses nationwide, Paycor discovered that as organizations add benefit plans, there is a significant decrease in turnover.In fact, organizations that offered the right mix of benefits saw turnover decrease 138%.The key is finding that right mix of benefits. Different generations want different things, and designing a benefits plan that fits a multigenerational workforce isn’t easy, but worth it in the long run in order to retain and attract talent.And that’s just the beginning. There are several factors to consider when designing competitive...

The Pros and Cons of Flexible Work Arrangements

The Pros and Cons of Flexible Work Arrangements

Back in the day, the primary determining factor for a candidate choosing your company over your competitors’ was salary. Nowadays, the tide is turning toward the employee benefits your company offers; specifically, flexible work arrangements. In fact, FlexJobs 2018 Annual Survey found that the top three factors today’s candidates look for in a job are: Work-life Balance Salary Flexible Work OptionsCompanies that offer flexible work arrangements reap big rewards, from access to top talent to increased retention rates. Enabling employees to work from home on a regular basis can also boost overhead cost savings when you’re not required to maintain office space for everyone. You’ll likely see improved attendance and productivity, as well as...

Open Enrollment Benefits Assessment

Open Enrollment Benefits Assessment

Design the perfect open enrollment in 4 clicks. Take our interactive assessment, below, to see where you stand! (content will load shortly) Content loading... Please enable javascript!

People Management

The HR Playbook: 10 Metrics That Prove the Value of HR

The HR Playbook: 10 Metrics That Prove the Value of HR

HR is sitting on a gold mine of data. But there’s a problem—HR professionals aren’t data scientists and they often lack the support, resources and budget needed to make sense of the data, let alone measure its financial impact.Paycor reviewed proprietary data from nearly 3,000 customers and found that many standard HR and recruiting metrics are tactical, in that they track project management, or, at most, basic dollar-in, dollar-out cost analysis. The most successful HR teams map people management metrics to business outcomes.Download our latest playbook to discover: Top challenges that keep the C-suite awake at night 10 key metrics HR teams must track How to calculate each metric Benchmarks to see how you stack up

How and Why to Create an Employee Grievance Policy

How and Why to Create an Employee Grievance Policy

Regardless of size or industry, every company will eventually have its share of disputes and disagreements among its employees. These conflicts tend to lead to problems for your business – from unmotivated workers all the way to negative publicity or even employee lawsuits.The Role of Human Resources HR should work closely with management to ensure a formal grievance procedure and policy is in place. Having a formal process gives your employees a practical, efficient way to express their concerns. This enables you to get in front of any problems quickly, so they don’t turn into a bigger issue for your company. Keep in mind, when you address grievances, employees feel respected which is important for engaging and retaining your...

HR

Is Holiday Pay Mandatory In Your State?

Is Holiday Pay Mandatory In Your State?

The FLSA Only Requires Employers to Pay for Time Worked Unlike most of the European Union, the United States has no federal law requiring private companies to pay for national holiday time off (by law, all employees in the EU also get a minimum of 28 paid vacation days). The Fair Labor Standards Act (FLSA) requires an employer to pay its employees only for time worked. This means that if an employee takes the day off for Christmas, you don’t have to pay them for time not worked. But Most Employers Offer Paid Holidays In practice, though, most private sector employers in the US give their employees the day off for national holidays, or they pay them time-and-a-half for working on the day. Some companies also offer a floating holiday,...

Compliance

The Role of HR in Risk Management

The Role of HR in Risk Management

HR Risks Covered:Recruiting Interviewing Drug Testing Background Check Employee Handbook Paying Employees Wage and Hour PenaltiesPay EquityHarassment PolicyTermination Where Are You Most Vulnerable? Tightrope walkers are kind of like human resource managers.You have big, long term goals and you want to make a difference. Yet day to day, you step carefully, balancing the complexities of the workplace.We love to talk to HR professionals about their strategic goals – for inspiration, check out Unlock the True Power of HR.In this article, however, we’re focusing on another aspect of your job: risk management, or risk balancing. We’ll walk you through some (certainly not all!) of the most common risks HR professionals need to balance...

Are Employees Entitled to Paid Time Off to Vote? (22 States Say Yes)

Are Employees Entitled to Paid Time Off to Vote? (22 States Say Yes)

“Voting is a civic duty” The United States was built on the principle of self-governance or autonomy, and the primary method most people use to exercise that right is by casting a vote for the people or the laws that most closely represent their personal values.While this right is a very important one, today there’s no federal law that requires employers to provide time off from work for voters. Further, Election Day isn’t considered a holiday the way it is in many other countries. On a positive note, though, many states require businesses to provide paid or unpaid time off so their employees can vote. Which states require employers to offer time off to vote? Providing paid time off (PTO) to vote is required in 22 states; unpaid time off...

401(k) Match Limits 2019: What Payroll Administrators  Need to Know

401(k) Match Limits 2019: What Payroll Administrators Need to Know

It’s a relatively small change, but it’s a change for payroll administrators to take notice of. As of November 2018, your employees’ contribution limits for their 401(k) increased to $19,000 from $18,500. The increase raises the total annual contribution amount (employee plus employer contribution) to $56,000 or 100% of the employee’s salary if they make less than that. Most companies typically offer 3-6% in matching funds, but there is no limit to the amount an employer can contribute as long as the annual cap isn’t reached. 2018 & 2019 401(k) Match Limits Defined Contribution Plan Limits 2019 2018 Difference Maximum employee contribution $19,000 $18,500 +$500 Catch-up contribution for employees aged 50 or older $6,000 $6,000 No...

Employee Experience

Achieving HR Excellence

Achieving HR Excellence

McKinsey found that the typical HR department still spends 60% of their time on transactional human resources. In today's world of dynamic and constant change, that just won't do.Why not?For starters, you can't recruit and retain top talent if you spend most of your time keying new hire data into payroll or processing administrative tasks.You can't discover new insights about how labor costs are affecting your bottom line if you're too busy manually tracking time and attendance.You can't optimize benefits for a multigenerational workforce if you're stuck hand-holding employees through open enrollment.Get to the next level of HR with a combination of technology and expertise.For nearly 30 years, Paycor has helped medium and small...

Webinar: October Web Summit - Synergy in the Workplace

Webinar: October Web Summit - Synergy in the Workplace

Everyone has a right to dignity and respect—but we sometimes lose focus of this, even in the workplace. When employees share a common understanding of the right ways to interact with and treat one another, employee synergy and business performance increase substantially.During this webinar we’ll explore the basic pillars of workplace behavior, how to encourage them, build a culture of civility champions and spend time reaping the benefits instead of fighting a retention problem.Speaker: Jamie BiermanJamie brings 13 years of strategic HR experience in retail, manufacturing and commercial organizations. She has focused on managing leadership development, coaching & training programs, performance management and strategic planning, as...

Employee Efficiency: 12 Tips to Increase Productivity

Employee Efficiency: 12 Tips to Increase Productivity

Disengaged Workers Generate Losses, Not Profits Labor costs are the number one expense for most businesses, so it’s important to make sure you’re getting the most bang for your buck. Disengaged workers cause massive losses in productivity – between $450 and $500 billion annually.You’ve Heard it a Thousand Times: Culture Affects Productivity Businesses that want their companies to prosper should focus their efforts on employee well-being and engagement to improve efficiency. It is also just as vital to look at ways to improve the overall company culture to help make everyone more productive.Looking to enhance the efficiency of your employees? Check out these tips you can implement today: 1. Consider allowing employees to work from home...

Labor Costs

Webinar: October Web Summit - The Data you Need to Know to Win Over the CFO

Webinar: October Web Summit - The Data you Need to Know to Win Over the CFO

Paycor reviewed proprietary data from nearly 30,000 customers and found that many standard HR and recruiting metrics are tactical, in that they track project management, or, at most, basic dollar-in, dollar-out cost analysis. The most successful HR teams map people management metrics to business outcomes. And that gets the C-suite to pay attention.Paycor’s Tim Ruge will analyze the critical HR metrics that matter to the C-suite, so they can see HR in a brand new light. Plus, he’ll provide some tips to start benchmarking and implementing these metrics.Speaker: Tim RugeTim Ruge is Paycor’s Director of Product Marketing, focusing on the HR Center of Excellence and various compliance topics. Since joining Paycor in 2012, Tim has helped...

How to Ensure Your Compensation Management Program Is on Target

How to Ensure Your Compensation Management Program Is on Target

Having a healthy, competitive employee compensation program can improve existing employee morale and also make attracting top talent a breeze. Compensation data that’s in line with your competition can give your hiring managers important information they’ll need when making a job offer to a candidate (this applies to raises and bonuses as well). Additionally, it can help your company remain compliant with Fair Labor Standards Act (FLSA) regulations when you can easily show that equitable compensation is paid across the board.So, how’s your compensation management program looking? If your answer is, “I don’t really know” or “We don’t have one,” keep reading. What is Compensation Management? Compensation management is how companies ensure...

The Future of HR

The Future of HR

Paycor asked 500+ CEOS, CFOs and HR executives about their human resources challenges, the impact of artificial intelligence and big data and their priorities over the next few years. We compiled the results and are sharing the findings and key takeaways in our report, The Future of HR. Here’s a sneak peek. 45% of Human Resources Professionals Are Concerned About Recruiting & Retention With unemployment at an all-time low, companies are being forced to up their recruiting game or risk missing out on top talent. But it’s not just about attracting employees. The average worker will change jobs at least 12 times throughout their career, which puts pressure on HR to engage, train and develop talent so they’ll never want to leave. This is...

Recruiting

The 7 Most Important Recruiting Metrics

The 7 Most Important Recruiting Metrics

Good data is the key to driving any good business decision, and the area of talent management is no exception. But with so much information to analyze, how do you know what it is you really need to know? Seven recruiting metrics that matter When it comes to recruiting, here are the seven metrics that should matter to HR professionals. Time-to-Fill Are your recruiters performing at a high level? Do you need to make improvements to your overall process? Time-to-fill tracks the number of days it takes to fill a job, from posting a job req to when a candidate accepts your offer. Time-to-fill can reveal important things about the effectiveness of recruiters and your overall recruiting process, including: if the hiring process is taking too...

Are Your Job Descriptions Driving Away Talent with Unconscious Gender Bias?

Are Your Job Descriptions Driving Away Talent with Unconscious Gender Bias?

Gender Discrimination in Job Descriptions Can job descriptions be sexist? Put another way: can the words we choose to describe jobs send the wrong message to female candidates? A great deal of academic research has gone into answering these important questions. Here’s what you need to know. Despite Progress, Women Are Still Blocked in the Workplace Not long ago, the business world was completely male-dominated. Executive suites, corner offices, and mid-to-upper-management positions were simply out of the question for women. Those women “lucky” enough to hold professional business positions were only allowed to do so in the most basic capacity, fulfilling stereotypical roles that the “working man” had deemed appropriate. Slowly but...

Interview Scorecards And Scheduling Tools

Interview Scorecards And Scheduling Tools

Interview Guides and Scorecards Paycor Recruiting’s Interview Guides and Scorecards improve new hire quality by allowing you to better prepare your team for interviews while also automating how you collect their feedback along the way. Interview scorecards help your team evaluate talent and predict the best hires in a variety of ways. Paycor Recruiting’s tools allow you to take a more strategic approach to hiring. Recruiters can better prepare their team for interviews and automatically gather hiring manager feedback. HR Directors can promote consistency in the hiring process and drive data-based hiring decisions. Executives can mitigate the risks of a bad hire and reduce turnover. Recruiters Improve interview skills Accelerate decision...