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Benefits
84% of employees who are happy with their benefits report high job satisfaction. Learn how to unlock the true power of benefits.
Benefits Administration: A Guide for HR Leaders
Why Employee Benefits Matter Believe it or not, your benefits package can have a serious impact on your ability to recruit, engage and retain talent. Hard to believe? It shouldn’t be. SHRM reports more than 50% of U.S. job candidates say benefits are among their top considerations before accepting a job. That’s why selecting the right benefits package is one of the most important things you’ll do for your employees over the life of your business. Choose the right benefits and your employees might never want to leave. Offer the wrong ones… you might as well install a revolving door. Businesses that get benefits right reap big rewards. Whether you’re aiming to boost your employees’ overall performance or you’re looking to improve...
How to Build Irresistible Benefits Packages for Employees
Employee Benefits Packages: Foundational to Workplace Satisfaction While a competitive salary is an essential part of attracting top talent, in today’s hot hiring market, the employee benefits package is just as important.More than ever before, employees are being offered robust and interesting job benefits as organizations strive to keep pace with the shifting culture of work today. Historically, offering health insurance and a 401k were the expected aspects of a benefits package. Today, employees are being offered benefits packages that include generous vacation policies and flexible working arrangements.In this article, we’ll share the most important aspects of an employee benefits package. You’ll learn what to offer in order to fully...HR
Are Domestic Partner Benefits Mandatory?
A Brief History: Only What You Need to Know The roots of domestic partner benefits stretch way back to 1982, when the City of San Francisco enacted legislation to offer health insurance coverage to the same or opposite sex partners of its unmarried employees. “Domestic partner” soon became the official legal term used by insurers and private and public employers.Also, in 1982, New York City newspaper The Village Voice became the first private employer to offer domestic partner health care benefits. Many other companies and municipalities followed suit. Fast forward to more than 30 years later when, in 2015, the United States Supreme Court ruled that domestic partner benefits apply to both same-sex and unmarried opposite-sex couples....
Product Case Study: Benefits Advisor and HR
Paycor’s HR and Benefits Advisor Allows the Kansas City Zoo to Streamline Open Enrollment. “My favorite thing about Benefits Advisor is the employee self-service—giving them the responsibility. It’s really easy to see what people are enrolled in at a glance and it has a clean look to it, which I like.” - Janna Stewart, HR manager, Kansas City Zoo CHALLENGE For years, the Kansas City Zoo used a manual paper- based method to onboard new employees, conduct performance reviews and during open enrollment. It was time consuming and required physical space to store all employee data and files. HR PAIN POINT Manual open enrollment & performance reviews Required multiple data entry points SOLUTION Streamline open enrollment Employee...
2020 Report: The Future of HR
The landscape of HR is shifting from everyday HR functions to strategic HR initiatives like recruiting, people & labor cost management and more. To gauge the present and future of HR, Paycor interviewed more than 500 leaders of medium and small businesses.In this trends report you’ll learn: Where the best HR & business leaders plan to invest the most money Why CFOs are losing faith in HR’s ability to work with data (and what you can do) Which 2020 compliance regulations are keeping leaders up at night and what you should do to mitigate risk Why 48% of business leaders believe many core HR functions will be automated by 2022 And more!
Is Unlimited PTO a Good Idea?
If you’re debating whether or not to offer unlimited paid time off to your workforce, there are a few pros and cons to keep in mind.For starters, it is becoming more prevalent. The number of jobs on Indeed that advertise unlimited PTO increased 178% between 2015 and 2019. But still, only 1%-2% of companies in the U.S. offer unlimited vacation and most of those companies are in the tech industry (ex. Hubspot, Netflix, Roku), according to Society for Human Resource Management. Why Do Companies Offer Unlimited PTO? Offering unlimited vacation is an innovative tactic for recruiting talent. Afterall, who hasn’t daydreamed of taking off work whenever the mood suits? In fact, the 2019 MetLife Employee Benefit Trends Survey revealed that 72% of...
2019 HR & Compliance Web Summit: Executive Summary
With 20,000+ registrations, this was Paycor’s biggest and best web summit yet!Industry experts like Jennifer McClure offered actionable insights and advice on all things HR, from self-care for the HR pro to in-the-news compliance issues. If you missed the live webinars you can watch them on our on-demand webinar page.In the meantime, here’s a quick overview of each session. 5 Steps to Become a Strategic HR Leader | Speaker: Lori Kleiman In today’s business environment only 20% of HR professionals interact with the executive suite. Lori Kleiman says it’s time to stop waiting for your gold embroidered invitation and finally take your seat on the leadership team. Ready to become a strategic HR leader? Follow this 5 step plan: Engage...
HR Center of Excellence: Benefits Video
The HR COE is a resource for HR and finance leaders who want to make a difference in their organizations. For 30 years, Paycor has been on the forefront of HR, and our mission has never changed: we want to do everything we can to help our customers solve problems and grow. To accomplish that mission, we provide best-in-class human capital management software, but that’s table stakes, as they say. We also provide expertise in the form of legendary customer support and thought leadership, which we define as actionable plans and inspiration to help you achieve your specific goals.Benefits is one of the six pillars of HR excellence. Watch this short video to get a sense of what role benefits plays in your organization. You might be...Banker
4 Cost Efficient Strategies to Give Your Clients a Competitive Advantage
In today’s competitive labor market, your clients undoubtedly appreciate any advantage they can get when it comes to attracting top talent and improving retention. At the same time, there’s probably not a lot of latitude in the budget to add incentives. The good news is, we’ve discovered a way to help employee turnover without breaking the bank.Paycor analyzed the data from more than 30,000 clients nationwide and found organizations offering six employee benefit plans (medical, dental, retirement, etc.) saw a 138% improvement in turnover compared to those with no benefit plans. The key is finding the right mix of benefits, focusing on options that appeal to each generation of the workforce. We’ve outlined four cost containment strategies...
Webinar: Deliver a Benefit and Payroll Plan Your Clients Can’t Turn Down
The Bureau of Labor Statistics says your clients spend $11.60 (on average) per hour, per employee on benefits… right, we gasped too! This cost proves why providing the best HR and benefit advice is more important than ever before and we want to make sure you’re prepared to advise your clients toward success.Paycor and Employee Navigator are teaming up to bring you some powerful insights and tools so you can make sure every dollar your clients spend on benefits & payroll, counts.Employee Navigator is one of the fastest growing SaaS-based benefits and HR platforms in the United States. The platform provides brokers and their clients with a single place to manage everything from new hire onboarding and online enrollments to ACA...
Webinar: Simplifying the Open Enrollment Process with Benefit Advisor
Are you tired of struggling through the hassle of Open Enrollment? Find out how Paycor's Benefits Advisor removes the complexity and manual work of Open Enrollment with our new wizard.Speakers: Skip Young Skip Young is Paycor's resident benefits expert. With over 7 years experience in the HCM industry, Skip leads our Benefits and HR product strategy.
Employer Student Loan Repayment Program: 5 Tips for 2020
Repayment programs: a competitive advantage? As the war for talent continues to heat up, companies are getting increasingly creative in the perks they offer employees. A free gym and snacks are a couple of good ones, but with student loan debts skyrocketing, a welcome perk for college graduates is a student loan repayment program. The student loan epidemic Currently more than 44 million Americans owe more than $1.56 trillion in student loan debt, up from $1.52 trillion just last year. It’s the second highest debt category—behind mortgages—and default rates have been on the rise. According to the Institute for College Access and Success, the average class of 2017 grad owes a little over $28,500. More than 2.5 million workers are saddled...
Buyer's Guide To HCM And Payroll Technology
An HCM platform is the foundation of your business, and choosing the technology is one of the most important decisions you'll make.
Get ExpertiseOpen Enrollment and Benefits Administration
Simply defined, employee benefits are any form of non-cash compensation beyond a regular salary or wage that employers offer their workforce. There are some benefits that employers are required to provide by law, such as making payments on an employee’s behalf for unemployment, Medicare and Social Security. And there are other benefits that employees have come to expect, such as health insurance and paid time off. Organizations looking to lead the pack will often promote “benefits in kind” such as telecommuting, flexible schedules or wellness programs in order to differentiate themselves from the competition.
But anyone in HR can tell you, there’s nothing simple about benefits. From stressful open enrollment periods to endless employee questions, benefits administration is no joke. Finding the right HR partner who can streamline the process and help educate your employees on their benefits options is crucial. Paycor offers the technology and expertise you need to simplify open enrollment while analyzing the real-time data you need in order to maximize the value of your benefits program.