When fans cheer for their favorite team, the last thing they think is, “Wow, there must be tons of HR and payroll work behind this moment.” And who could blame them?
That said, HR managers like you are the real MVPs of professional sports organizations.
Without you, signing bonuses wouldn’t get deposited. Trades would disrupt players’ health insurance. And luxury tax laws would be broken left and right.
Plus, you’re tending to the needs of the team behind the team: coaches, medical personnel and support staff.
Hiring and retaining all this talent has become even more challenging in the post-COVID era.
As reported by Sports Business Journal, many factors are at play. For years, students have been told to expect 60-plus hour workweeks with no overtime pay in the pro sports industry. Candidates and employees also have cried foul on:
- benefits
- salaries
- clear development paths
In your line of work, you must be just as agile as the athletes and staff members you support. Isn’t it about time you drafted a teammate of your own?
In a single software, Paycom is the ultimate utility player, ready to jump in wherever and whenever you need the help. Let’s look at five key areas.
1. Streamlined compensation management
All those different compensation structures don’t manage themselves. Athletes, coaches and staff members have different base salaries, incentives and bonuses.
Our software helps you stay on top of every penny — all while adhering to your sports organization’s unique financial rules.
2. Data security and reporting
If someone finds out what a player is taking home, it won’t be because of us. We spare no expense with 256-bit encryption tech. Plus, our comprehensive security processes and infrastructure are certified in:
- ISO 9001
- ISO 22301
- ISO 27001
- ISO 27701
- SOC 1
- SOC 2
Internally, you’ll enjoy robust tools that analyze data for financial planning, performance evaluations and compliance audits.
3. Roster changes and employee onboarding
Drafts and trades can change a roster overnight — and plenty of HR tasks follow. Our single software makes it simple to onboard and offboard employees. You’ll easily set up new hires, process terminations and update records.
Even star athletes aren’t immune from all those administrative duties that come with an employment change. Paycom is your assistant coach for document management, compliance checks, electronic signatures and more.
4. Self-service empowerment
Put each team member to work on their own HR needs with our app. In its Employee Self-Service® tool, coaches, athletes and staff personnel can access HR and payroll details right on their smartphones, 24/7. They easily can update personal information, do their own payroll and retrieve important documents.
Your organization will appreciate the transparency. And you’ll win back time.
5. Compliance management
The sports industry is not playing around when it comes to staying compliant with collective bargaining agreements. Our software helps your team pivot by letting you specify automatic rules and calculations.
Between bonuses, endorsements and fiercely negotiated salaries, tax compliance poses a high hurdle for pro sports organizations. We automate multistate and contract tax management to help your team focus on the game — not regulatory issues.
Paycom also monitors changes to relevant employment legislation, like:
- FLSA
- FMLA
- EEOC
- OSHA
- COBRA
- and more
Besides helping to ensure compliance with league regulations, you’ll be set up for reporting and analytics. Want to run the numbers on particular HR or payroll data? Our in-depth reporting tech makes it easy to generate and review reports in a snap, across all workforce data.
Unlike industries that operate in relative privacy, all eyes are on professional sports organizations. Let our HR and payroll management software play a key position in protecting your positive image and your team’s financial well-being.
Explore Paycom’s single software to see how it helps your professional sports organization win at HR and payroll.
DISCLAIMER: The information provided herein does not constitute the provision of legal advice, tax advice, accounting services or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional legal, tax, accounting or other professional advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation and for your particular state(s) of operation.