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4 Steps Toward a Talent Strategy Built for Gold

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Would you consider your organization to be a competitive player when it comes to talent? Research reveals a less than stellar reality for many organizations. In fact, a recent Bersin by Deloitte study indicates that 70 to 80 percent of organizations lack a talent strategy, and if you want to be a champion in the market, you have to have a great strategy.

Visions of gold aren’t unattainable, but until now, many organizations haven’t had the proper tools to really excel when it comes to managing and retaining talent. That’s all about to change as businesses begin to put greater emphasis on building talent by exploring, creating and leveraging a strategy.

The Challenges

Many organizations face two main challenges when it comes to their talent strategy. While most organizations are engaged in some form of talent management, they lack a clear talent strategy. Considering a good talent strategy provides direction and helps organizations align with overall business goals, why aren’t more companies invested?

But development isn’t where organizations struggle the most. In many cases, the significant problem is a lack of sufficient leaders to follow through with the talent strategy. Somewhere along the line, someone drops the ball and, unfortunately, business outcomes are affected.

Overcoming these challenges and taking control of your talent strategy is really quite easy. If you’re doing it right, it’s a simple four-step approach.

Step One: Identify Your Business Strategy

Are all your leaders on the same page when it comes to business strategy? The first step involves unifying leaders across the organization. Leaders are responsible for creating the talent strategy, so they need to know the businesses strategy and goals.

Step Two: Identify Talent Needs

Now that you know what your business strategy and goals are, the next step is conducting a workforce assessment to find out which talent needs are the most crucial. By the end of this discussion, leaders should have a clear understanding how to attract, develop, engage and retain individuals. This information will become the talent plan foundation, outlining how the organization can achieve its strategy.

Step Three: Align the Strategy

With a talent strategy in place, leaders are now responsible for aligning the strategy with expectations and fully supporting the system. In order to be successful, you need complete buy-in from the rest of the workforce. It is up to the leaders of the organization to ensure employees are willing and able to act out the process and then maintain a proactive role in encouraging usage. Consistency only will breed better results.

Step Four: Redesign the System

Finally, a system redesign completes the process. Remember, technology should align with the activity strategies you have set forth in your plan. Choose a talent management system robust enough to support all your business goals. And note that technology should work for your people, not the other way around.

Implement a tool that can build a reward and talent program to drive your business forward. Don’t be a victim of talent shortage; rather, find and foster super talent by linking performance and compensation. With an all-in-one system, you can implement fair and consistent compensation plans where performance directly impacts reward.

Each of these steps involves a great deal of collaboration and thoughtful planning, but together, they provide you a winning strategy capable of producing amazing results. Prepare for success and take the gold when it comes to talent.

What’s your strategy for developing the talent needed to grow your business? Is it gold medal-worthy?

Author Bio: Lauren is an enthusiastic writer who is passionate about numerous topics surrounding the HCM industry including talent management and acquisition, technology, document management and leadership, just to name a few. Lauren has been with Paycom for over a year and has taken on roles as a blogger, social strategist and community relations coordinator. In her spare time she enjoys DIY“ing,” exploring the city and keeping up with her two dogs, Deacon and Cookie.


How to Train your Workforce Using 1 Item in Your Pocket

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Everyone needs training, whether it’s basic, new-hire, how-to-get-started training or professional development. Training employees provides your company with a competitive edge in business for a number of reasons, not the least of which is that you end up with knowledgeable, capable employees who are as invested in the company as you are with them.

And guess what? You’re already training your employees, whether or not you realize it. From employee orientation on day one to continuing education, you’re training your business on the essentials. The thing is, you could be training in a simpler way.

Streamlining your company’s training and learning program doesn’t have to be time-consuming or intimidating. Take Paycom Learning, for instance. If you have a camera-equipped phone or a PowerPoint slideshow, you have the materials you need to create a training! In a couple of easy steps, you can save your company time and money by creating easy, everyday trainings.

Record Your Training

Nearly two-thirds of Americans have smartphones. Simply take that phone out of your pocket and record a video (or an audio message) of the training. For example, one of the first things a new hire needs to learn is how to utilize the features of his or her desk phone. You also may want to train your restaurant hosts on how to properly welcome guests. A two-minute video with a rundown of various details is an easy way to knock out basic getting-started tasks.

Upload Training to Paycom Learning

When you are finished recording, just upload the file to Paycom Learning and assign it to employees. They’ll be able to access the training via Employee Self-Service, from wherever there is an internet connection. Employees love easily accessible information; 75 percent of millennial workers are eager to utilize online learning. Podcasts are an easy way for employees to access training at their convenience, such as on their daily commute to work.

Measure Results

If you want to ensure your employees are retaining the information, considering adding a quiz. You also can monitor who has completed assigned training and easily review results.

Four Ways to Utilize Training

If you’re wondering how training applies to your company, here are four ways companies can utilize training:

  1. Practical, on-the-job training: Who is the expert in certain areas of your business? Record him or her demonstrating how to work the company alarm system, emergency procedures, email set-up and other trainings that otherwise would happen in person.
  2. Compliance training: What training is needed to comply with industry regulations? For example, how to properly wash your hands for food service or the procedures for reporting an on-site accident. Ensure that all employees are correctly and consistently trained.
  3. New-hire training: How many new hires do you have annually and how much time does it take to train them on the same standard tasks? Cut down on the time it takes to get them up-to-speed by simply recording one training and uploading it to Paycom Learning.
  4. Communicating important messages: How do you track who has seen an important companywide memo? Instead of mass-emailing employees, record important messages such as quarterly financial updates or the company’s vision statement, and post them to Paycom Learning. You then can generate reports on who has or hasn’t viewed the message.

When it comes to training, you’re already doing it, but don’t overcomplicate it. Training is easy when you use Paycom Learning.

Holly Faurot

by Holly Faurot

Author Bio: Faurot, vice president of client relations, has served in a number of roles during her tenure at Paycom, including regional vice president, sales training manager and sales consultant. A born leader and a 2012 honoree in Oklahoma’s 30 Under 30 awards, she has helped a number of individuals and clients achieve success through her energetic spirit. The product of a dairy farm in Kenefic, Okla., Faurot was taught at a young age the importance of working hard, being honest and having a desire to help others.

master compliance

3 Ways Your HR Team Can Master Compliance

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Complex rules, weighty administrative responsibilities, zero margin for error: When it comes to complying with employment legislation, the burden for U.S. businesses — both large and small — is substantial.

Small and medium-sized businesses in particular must manage their resources wisely, and can find it increasingly difficult to allocate the staff – and the time – to manage all of their company’s obligations for complying with today’s labor legislation. Larger businesses, with thousands of workers employed across state lines, face the challenge of ensuring HR teams are following the right rules. It’s no wonder managing compliance can feel overwhelming.

But it doesn’t have to be. Implementing a few best practices can make it easier to master the growing compliance burden and protect your company.

Here are three best practices to help you master compliance.

1. Automate Your Compliance Processes
Not only are government agencies producing a ton of rules and regulations, but businesses also have to deal with the mounting complexity of those regulations. The Affordable Care Act (ACA) is a perfect example. It’s one of the most complex pieces of federal legislation ever conceived, and despite many HR leaders’ best efforts, the nuanced nature of government regulations, like ACA, makes manually tracking and storing information time consuming and precarious.

Enter automation.

Automation improves a business’s efficiency and takes some of the guesswork out of complex processes. Specifically, the right system should be able to automate tasks like tracking garnishment payments and sending required COBRA correspondence. Through automation, businesses gain something truly valuable — peace of mind.

2. Proactively Find Areas of Risk
The risk of noncompliance is real and felt most notably in steep costs. Take the Fair Labor Standards Act as an example.

Not only do businesses have to contend with rising penalties associated with noncompliance, but class-action and wage-and-hour lawsuits add a painful one-two punch. These blows can leave marks. In fact, according to a report from Seyfarth.com, there has been a staggering 115 percent increase in value of the top 10 wage-and-hour class-action settlements since 2014.

But wait, there’s more: Litigation lawyers with splashy ads and the ubiquity of online information actually encourage employees to file claims against their employers. Additionally, the U.S. Department of Labor’s Wage and Hour Division has increased the number of investigations by 35 percent in the last six years. These investigations are launched independently of employee complaints.

With the odds seemingly stacked against businesses, foresight and planning is crucial. Businesses that have the ability to quickly audit their workforce by gathering easily accessible and accurate data can proactively manage their risk of noncompliance and find opportunities for improvement.

3. Be the Ultimate Resource for Your C-Suite
Big regs can mean big changes for businesses. Take, for example, recent changes to overtime regulations. On its face, overtime expansion looks like a simple question of time and labor. The solution may seem simple as well: Cut a few hours here or reassign a few duties there in order to avoid increased labor costs. However, because the salary threshold essentially has doubled, controlling overtime costs can require many changes to how a large percentage of a company’s workforce is paid and scheduled.

That’s why it’s so important to provide your C-suite with the data and information it needs to make the best decisions for your company.

Experienced executives rely on key event alerts; intuitive, automatic reporting; and legislation overviews to keep them at the top of their game. Additionally, those types of tools give HR leaders crucial time to prepare solutions and points of reference when presenting recommendations in the boardroom.

Just as the Industrial Revolution’s spinning jenny replaced the laborious job of hand-spinning wool and cotton, HR technology can drastically improve a business’s efficiency and output. Automation features like push reporting allow companies to schedule reports for things like expiring employment authorization documents and ACA status changes.

We know when it comes to leading your company through intensifying government regulations, you don’t simply want to make it — you want to master it. With these tips and the right HR technology, you can be well-positioned to do just that.

DISCLAIMER: The information provided in this blog is for general informational purposes only. Accordingly, Paycom and the writer of the above content do not warrant the completeness or accuracy of the above information. It does not constitute the provision of legal advice, tax advice, accounting services, or professional consulting. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal or other professional services.

Katy Fabrie

by Katy Fabrie

Author Bio: Katy Fabrie is a Marketing Specialist at Paycom where she assists with executing integrated marketing campaigns. With extensive experience in both writing and research, Katy enjoys crafting content that helps HR professionals develop strategies to reach their goals. Katy has created both digital and printed content for a myriad of local and national companies, and she enjoys continually expanding her HR knowledge base. Outside of work, Katy enjoys reading, running and spending time with her husband, Colby, and dog, Fox.

Paper work

IRS Releases Final, Updated 2016 ACA Forms

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By now, it’s likely you’re aware that several forms of transition relief from the Affordable Care Act (ACA) that were available in 2015 have expired, and only limited relief continues to apply in 2016.

As a result, the Internal Revenue Service has removed references to 2015 transition relief from 2016 Forms 1094- and 1095-C. It’s important that employers understand how these changes affect the way they will complete 2016 forms and provide data to the IRS.

In summary:

  1. Transition Relief check box removed

Employers no longer will be able to select “The Qualifying Offer Method Transition Relief” box on Form 1094-C, or use codes 1I and 2I to complete Forms 1094 and 1095-C. In 2016, employers will use new codes 1J and 1K to show they offered minimum essential coverage to employees, their spouses and dependents for all 12 months of the calendar year.

  1. Safe harbor increases to 95 percent

Applicable large employers (ALEs) now must offer health care coverage to 95 percent of their full-time employees in order to check “yes” in Part III of Form 1094-C.

  1. Full-time reminder added to Form 1094-C

ALEs with 50 or more full-time or full-time-equivalent employees must follow guidelines in 2016. On Form 1094-C, the phrase “Section 4980H” was added to remind filers that the 30-hour-per-week definition of “full-time employee” applies for purposes of completing Part III of Form 1094-C.

What you can do

While these changes seem insignificant, not taking them into account when completing your ACA reporting could result in noncompliance with increasingly strict requirements. This, combined with elevated penalties and fast-approaching 2017 reporting deadlines, may have you looking for a payroll provider who can assist you with ACA compliance. If so, choose a company that can file Forms 1094/1095-B or -C on your behalf and offers ongoing monitoring and education features to help you proactively manage ACA compliance.


DISCLAIMER: The information provided in this blog is for general informational purposes only. Accordingly, Paycom and the writer of the above content do not warrant the completeness or accuracy of the above information. It does not constitute the provision of legal advice, tax advice, accounting services, or professional consulting. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal or other professional services.


by Amy Double

Author Bio: Amy, a tenured professional in sales and marketing with over 10 years of experience, is dedicated to creating content focused on helping organizations achieve their business goals. As an experienced writer, Amy is committed to researching and blogging about topics that affect businesses across multiple industries, including manufacturing, hospitality and more. Outside of work, Amy enjoys reading, entertaining and spending time with family.

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