« Resource Center
Benefits
84% of employees who are happy with their benefits report high job satisfaction. Learn how to unlock the true power of benefits.
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...
The Growing Problem of Employee Turnover
Turnover is a major challenge for business leaders, and with historically low unemployment, it’s only getting worse. The high demand for talent has led to “ghosting” from candidates who accept a job and then never show up after they get a better offer somewhere else. Employee turnover is time-consuming and expensive, but you may have a secret weapon: benefits. Learn how the right mix of benefits can improve turnover by up to 138%.Share this Infographic On Your SitePlease include attribution to https://www.paycor.com with this graphic.Banker
3 Reasons CFOs Should Care About Employee Benefits
If you think the realm of employee benefits is strictly HR’s domain, it’s time to change your thinking. Labor costs, including employee benefits, is often the largest expense of any organization and should be closely watched by both HR and finance.More financial leaders are taking an interest in human resources and starting to expand their influence outside the traditional areas of accounting. A recent Robert Half survey showed CFOs are more likely to expand their reach into HR more than any other department.39% of CFOs said their role expanded into HR the most Source: Robert HalfIf you’re hands-off when it comes to employee benefits, it’s time to get his/her attention. Here are three reasons why a CFO should care: A Healthy Workforce =...CFO
5 Cost-Containment Strategies to Make Benefits a Competitive Advantage
A diverse mix of benefits are one of the most critical tools employers can offer to attract top talent—but companies can’t ignore the impact benefits have on retention. Still, some financial leaders hesitate to invest in a variety of benefits packages due to the costs involved.Paycor analyzed more than 30,000 medium and small businesses and found that as organizations offer more benefit plans, there’s a substantial improvement in turnover. Specifically, organizations offering six benefit plan types saw turnover improve 138%.Check out our infographic below which examines five cost-containment strategies CFOs should consider to avoid breaking the bank.
Communicating Benefits to a Multigenerational Workforce
Your clients spend $11.60/hr. (on average) per employee on benefits, which represents a huge investment for small and mid-sized businesses (Bureau of Labor Statistics). But as you know, there’s also an investment of time; think of the many hours you spend guiding your clients through the process of crafting a benefits strategy that addresses the needs of the 5 generations in the workforce.But here’s the problem: if a tree falls in the woods, does anyone hear it?If open enrollment is confusing for your clients, imagine how their employees feel. Without the right education, employees stick with the benefits they know, and they may never know that there was a better option for them.According to Aflac, 46% of Americans take less than 30...
Webinar: How to Dramatically Reduce Turnover with the Right Employee Benefits
Find out how high-performing companies crack the benefits code and increase business performance, recruiting effectiveness and retention rates.Speakers: Skip Young Skip is Paycor's resident benefits expert. With over 7 years experience in the HCM industry, Skip leads Paycor's Benefits and HR product strategy.Broker
Improve Turnover with Employee Benefits
Diverse benefits plans are widely seen as one of the most important tools employers can offer to attract top talent—but companies shouldn’t ignore the impact benefits can have on retention.Paycor examined our customer base of more than 30,000 medium and small businesses and discovered that as organizations offer more benefit plans, there is a significant improvement in turnover. Specifically, organizations offering six benefit plan types saw turnover improve 138%.For many of the broker partners we work with, retaining talent is a major concern for their clients. But it doesn’t have to be. Check out our infographic below which details the importance of selecting and offering the right mix of benefits for employees.Broker
How (the Wrong) HR Technology Makes Open Enrollment Harder
Tell your clients that “buyer beware” definitely applies to benefits administration software. Capterra, an online software review site, features 300 ben admin systems as of 2019, and only 7 providers with more than 300 reviews are rated 4.5 stars or higher. (Not to brag, but Paycor’s benefits technology is one of those seven.) That means there’s a lot of bad technology out there. But don’t take our word for it. Here’s what a Capterra user had to say about a well-known benefits administration provider: "Our provider failed to execute open enrollment, so employees were not enrolled with the new health insurance provider for weeks into the new year. They failed to cancel our old health insurance, so we were doubled billed. Overall, it seems...HR
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...
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.