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Labor Costs
Nearly half of HR leaders in medium and small businesses doubt that what they do impacts the bottom line. Learn how HR can help predict and manage an organization’s most important expense.
How to Apply for a Coronavirus Small Business Loan
As we all do the best we can to protect our communities from the coronavirus (COVID-19) pandemic, daily life is changing due to social distancing and lockdown in many cities. Measures like these, though necessary, inevitably damage the American economy, with small businesses hit especially hard. To mitigate the economic effects of the disaster, the federal government has announced a series of measures including offering affected small businesses low-interest loans of up to $2 million. Who is Providing the Small Business Assistance? Loans will be provided by the U.S. Small Business Administration (SBA), who have long issued fully federal-funded Economic Injury Disaster Loans (EIDL) to businesses in communities affected by natural...
Leap Year Payroll: How to Handle 27 Pay Periods
If you pay employees bi-weekly, you normally have 26 pay periods a year. But 2020 brings you an extra one—thanks, leap year. True, an extra pay period isn’t exclusive to leap years, sometimes it just depends on which day of the week you pay your employees. But regardless of when it occurs, it can cause headaches for HR and payroll administrators who aren’t prepared.There are a few ways to approach a 27-pay-period year, but the most important thing is to communicate your plan to your workforce. Make sure they understand what to expect so there aren’t any surprises surrounding their paychecks. How to Pay Employees During a Year with 27 Pay Periods Option 1: Everyone gets an extra paycheck. Woo-hoo! The extra paycheck would be for the same...
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...
Webinar: COVID-19 Command Center: Instant Insights and Tools for Crisis Management
As part of Paycor’s commitment to keeping our customers informed and compliant during the COVID-19 crisis, we’re excited to announce the release of Paycor’s COVID-19 Command Center, an analytics and HR solution that delivers the instant insights and tools you need to make business-critical decisions. We will walk you through Paycor’s COVID-19 Command Center and demo the features and functionality and so you HR Leaders can make better decsions using real time data that you can manipulate and customize according to the needs of your business.Speakers: Kelly Silverman and Nabeel Sattar
Coronavirus: Unemployment Rates By State
Historic Unemployment Claims As more COVID-19 regulations are passed and businesses temporarily close their doors, the U.S. is seeing historic weekly unemployment benefit claims across all 50 states. In fact, the previous two weeks have seen nearly 9 million unemployment claims. According to the U.S. Bureau of Labor Statistics, roughly 5.6% of the U.S. civilian labor force has applied for unemployment benefits—as of March 28—which is higher than the peak unemployment of the Great Recession at 4.8%. Unemployment Rates By State State Unemployment Claims (Ending 3/28/20) State Unemployment Rate* Alabama 80,186 4.2% Alaska 14,523 7.5% Arizona 89,064 3.1% Arkansas 26,944 3.1% California 878,727 6.5% Colorado 60,784 2.6% Connecticut 33,182...
Paycor's COVID-19 Command Center
We're excited to announce the release of Paycor's COVID-19 Command Center, a new analytics solution that delivers instant insights for crisis management. With the COVID-19 Command Center, you'll be able to: Prepare with real time insights Plan with actionable data Respond with the help of HR experts Recover quickly by playing the long game now Discover how your organization can make the best possible decisions with real time data, actionable insights and expert HR counsel.
Coronavirus Aid Relief & Economic Security Act: What SMBs Need to Know
On March 27th, the Coronavirus Aid Relief and Economic Security Act (CARES Act) was enacted to provide financial relief to those impacted economically as a result of the Coronavirus pandemic.Paycor is waiting for additional guidance from the IRS and the Department of Labor to determine how we can best support our clients. We will communicate more information once guidance becomes available.The CARES Act keeps in place the credits established in the Families First Coronavirus Response Act, enacted March 18, 2020. View an infographic with the details here. Below is a list of additional details released as part of the CARES Act. Advance Payment of Payroll Credit Under the CARES Act, employers could get the payroll tax credit in advance....
Webinar: Paycor Analytics Deep Dive - Manufacturing
Meet Paycor Analytics, a people analytics tool that will help transform the way manufacturing companies manage their workforce. We will show you how manufacturing companies can transform existing HR data into meaningful analytics that answer the most critical business challenges and drive meaningful change across your workforce.
Webinar: Paycor Analytics Deep Dive - Healthcare
Meet Paycor Analytics, a people analytics tool that will help transform the way healthcare companies manage their workforce. We will show you how healthcare companies can transform existing HR data into meaningful analytics that answer the most critical business challenges and drive meaningful change across your workforce.![What the Coronavirus Relief Package Means to SMBs [Infographic]](https://paycor.imgix.net/ample_admin/attachments/files/000/031/201/screen_xs/coronavirus-relief-package.jpg?ixlib=rails-2.1.4)
What the Coronavirus Relief Package Means to SMBs [Infographic]
The Senate approved a relief package of paid sick leave, unemployment benefits, free coronavirus testing and food and medical aid. What’s in the Families First Coronavirus Response Act? Loans to Keep Small Business Afloat: Most employers with 500 employees or less can apply for loans equal to six weeks of payroll up to $1,540 per employee. Fine print: employers who accept the assistance must continue to pay employees for 8 weeks after receiving the loan. Emergency Paid Sick Leave to Cover COVID-19 Employers must provide two weeks of emergency paid sick leave at regular pay rate. Furthermore, employees employed for at least 30 days can qualify for pay continuance of at least 2/3 of “regular pay” under FMLA rules for an additional ten...
Product Case Study: Scheduling Pro
“Scheduling Pro is a time saver. Before Paycor we used spreadsheets to schedule employees. We didn’t have the visibility or reporting that’s available to us now. - Kim Kramer, Vice President, Mini University Scheduling Pro helps Mini University save time and limit overtime expenses. Prior To Paycor Mini University operates multiple early childhood education centers across the state of Ohio, employing a workforce of 168 employees. As with many childhood education centers, Mini University experiences a high volume of call-offs and shift changes. Program administrator Nicole Myrick previously used a solution that supported leave requests but not scheduling, which resulted in her spending an entire week creating monthly schedules. Not to...
Webinar: March 2020 Web Summit - Keynote Session: 5 Ways HR Pros Can Engage the C-Suite Today
How can you balance people strategy with business strategy? Register for this session to learn our 5 step process to building bridges and the tools you need to help align with business leaders, impact the bottom line and get noticed.Speaker: Lori KleimanLori Kleiman is a business expert with more than 25 years of experience advising companies on HR issues. Her background as a human resources professional and consultant gives her unique insight on how HR professionals and executives can work together effectively to achieve business goals. Her programs are designed to provide critical HR updates and best practices to small businesses. In addition, she is has served as adjunct faculty member at a number of Universities.
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 ExpertiseLabor Costs, Overtime, Turnover and More
Labor costs, especially if you’re not tracking them, have a way of getting out of control. Employee wage growth (or lack thereof), overtime, employee turnover and time theft are just a few of the ways things can go off the rails. Yet, according to a recent Paycor survey, HR professionals only spend 15% of their time managing labor costs. So, why isn’t it more of a priority?
There’s a number of ways HR can help reduce labor costs. Overtime expenses tend to wreck the most havoc on a budget, which is why it’s important to figure out the culprit and create a plan to deal with it. Try hiring temporary workers during peak times of productivity or streamline the overall process. You can curb time theft and buddy punching with technology and modern time and attendance software/products. In the restaurant industry, margins are already thin but optimizing schedules can help reduce labor costs.
And that’s just a start. HR can use workforce analytics to obtain key information about talent and how it influences current and future business strategy. As an HR pro, you have the power to predict what’s going to happen—it’s all in the data.