HR Trends to Watch in 2017
There were a number of unique HR challenges in 2016 that caused extra stress for employers. A year ago, Paycor offered guidance and advice on how to get started with Affordable Care Act compliance. We also offered support and solutions regarding U.S. Department of Labor overtime changes that affected 65% of small businesses around the country with a 7-Step Guide to Mastering DOL Overtime Regulations.
We understand these things can be overwhelming and confusing. That’s why we help our clients understand and plan for HR challenges before they become HR problems.
So what’s ahead for 2017?
A Shift from the Cloud to Mobile
Cloud technologies will continue to work behind the scenes to engage and manage employees, but more employees will use mobile devices to clock in, manage their time and check their benefits. Mobile apps can replace web-based cloud management systems while improving their flexibility. Wearable gadgets like watches and FitBits will merge health and wellness with employee engagement issues. Across industries, HR departments have been slow to adapt mobile technologies -- but that means you can be at the forefront of this shift while your competitors are struggling to catch up. Paycor offers mobile solutions to meet your timekeeping needs, merging the freedom of the cloud with the flexibility of mobile devices.
Equal Employment Opportunity Enforcement
The U.S. Equal Employment Opportunity Commission issued a new Strategic Enforcement Plan this year -- only the second time they’ve done so -- indicating where they will focus on compliance enforcement for 2017 and beyond. Eliminating recruitment and hiring barriers, protecting vulnerable workers and ensuring equal pay protection -- you will want to make sure you are in compliance and that your employees have easy (and easy-to-understand) access to their own paperwork and employment information.
Also new in 2017 is the Equal Employment Opportunity Commission’s announcement to expand the data employers are required to collect in the EEO-1 Report. The new rule requires employers and contractors with at least 100 employees to accurately track and report on the number of hours employees work, identify their employees’ earnings using W-2 wage data over a 12-month period and classify employees in one of 12 pay bands in an effort to highlight and eliminate pay disparities. To help prepare your business for this latest regulation, download our essential guide to EEO-1 Reporting and check out our latest resources.
Improved Employee Flexibility
As the economy continues to grow, keeping valued employees is key. Turnover can cost your business as much as 20% more in annual salary costs -- and more than 200% for executive positions. Less than half of American workers feels like their employers support healthy lifestyles and work/life balance. One way to retain employees is to offer them more freedom in HR solutions. Next generation HR technology offers performance feedback, ongoing growth conversations that supplement annual reviews, and sophisticated time and attendance platforms. Empower your employees’ workplace experience and ensure employer compliance and employee development with Paycor’s HR solution, named by TrustRadius™ as one of 2016’s Best Core HR Software for Small Businesses and Mid-Size Companies.
Team-Based Reviews & Engagement
Employee-empowered learning is on the rise and top-down goals are on the decline. The annual review isn’t disappearing, but it will be supplemented with regular, rolling feedback. Paycor’s Reporting and Analytics solution lets you track information from labor costs to benefits packages to employee performance and more, and create reports in. When it’s time to have those annual reviews, rolling feedback -- and the apps and systems that track them -- will make those decisions clearer, more efficient, and based on real-time data.
It’s expected that more than 40% of the workforce will be made up of freelancers, gig-workers and part-timers in the near future. Freelancers will work alongside full-time employees in-house or from home offices. HR demands for freelancers can get complicated, especially if they’re billing you for time spent figuring out a burdensome timekeeping system. Paycor offers automated and mobile systems that simplify payroll management for freelancers and full-time employees, making it possible to check paystubs, W-2s, and other tax forms online, quickly and securely.
Planning for the Unknown
No matter who wins the presidential election, a new administration is moving to Washington, D.C. in January 2017. Changes in federal regulation could come quickly, slowly or by complete surprise. You don’t have to brave the unknown alone. Our clients trusted Paycor to prepare them for 2016, and to offer proactive solutions and support throughout the year.
We’ll do the same in 2017. If you’ve already put your trust in us -- thank you. If we haven’t had the pleasure to work together yet -- click here to find out why 30,000 companies trust us for their HR and payroll solutions, and, come the early morning hours of January 1st, sing Auld Lang Syne without worry.
Sources: Forbes, Deloitte, Harvard Business Review, HR Morning
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