Make no mistake: HR technology is changing the way Americans work – for the better.
On Aug. 21, Paycom CEO Chad Richison appeared on the CNBC talk show Mad Money to discuss this topic with host Jim Cramer.
“We are transforming the HR and payroll industry,” Richison said, through software that directly connects employees to their HR data, allowing them to complete simple tasks – from clocking time to submitting expense reports and vacation requests – that historically were on paper and required data re-entry, often on the part of the HR professional.
“Today, they’re able to have a direct relationship with the database the same way they do with everywhere else in their life,” he said.
Richison likened the convenience to the way we have become accustomed to ordering tickets, conduct banking or select movies to watch at home: through an app.
As a result, he said, “It allows HR to move themselves out of the data transfer process and into more strategic roles in the organization.”
The way we were
American workplaces using Paycom are more efficient by virtue of not having to deal with disparate systems, multiple passwords and constant employee requests that, while simple on an individual basis, collectively snowball into an avalanche.
Freed of that administrative burden, HR professionals are able to pursue strategies that drive their business forward. This includes managing initiatives from training employees to aligning their performance with the goals of the organization.
Richison acknowledged that while the payroll space continues to grow, Paycom is seeing more upward movement in other areas of human capital management, including learning management, benefit administration, expense management and talent acquisition.
Letter of the law
Another area of upward mobility is government compliance. Whether dealing with federal employment laws or legislation that varies state to state, Paycom has the tools to mitigate exposure for employers. Richison noted the company is “very focused” on the employer-employee relationship when it comes to following the rules.
“As we do more for the employee, we’re able to identify even more items that make it easier for both the employee as well as the employer to increase performance and overall satisfaction,” he told Cramer.
For your reference
That focus on the employee experience pays off. When Cramer remarked on Paycom’s continuing growth in the midsize market, Richison was quick to give credit where credit is due.
“We’re having a lot of clients come to us and especially we’re getting a lot of referrals from employees,” he said, noting that some will leave a company that utilizes Paycom, only to have trouble adjusting to a new employer who does not. “They’re used to the Paycom experience. It’s very difficult for all of us to go backwards in technology.”
