HR and Business Are Looking for Data Analytics and Insights

Stacey Browning, President of Paycor

Today our guest is Stacey Browning, President of Paycor.

Since 2001, Stacey has played an integral role in every aspect of Paycor’s operations. As president, she fosters collaboration across the business and ensures executional excellence in product development and service delivery.

Paycor is a trusted partner to more than 33,000 small and medium-sized businesses.Known for delivering modern, intuitive recruiting, HR and payroll solutions, Paycor partners with businesses to optimize their people management.

Paycor’s key areas of specialization include Payroll Management, Human Resources Solutions, Benefits Administration, Time & Attendance Solutions, Tax Filing & Compliance, Workers’​ Compensation and Employment Screening Service.

Recently Paycor announced Workforce Insights, a new data visualization solution that extracts rich and actionable insights from people data to bring valuable C-level and operational insights to key business stakeholders.

The interview is hosted by Alexey Mitkin, Founder, Publisher and Editor-in-Chief, The HR Tech Weekly® Online Media Co.

  1. Hi Stacey, and first of all thank you very much for this interview with The HR Tech Weekly®. Straight away, why you have developed Workforce Insights and how it will complement other Paycor products?

Our innovation is driven by uncovering ways to better serve our clients, and Workforce Insights is no exception. Last August we surveyed our clients about the features they wanted to see in future product releases. After reviewing more than 1,000 client responses, we found that the overwhelming majority were looking for data analytics and insights.

In addition to evaluating our client’s feedback, we also looked at industry trends that show HR professionals are striving to prove their strategic value to executives. One way we can help them is by organizing their key people data in a manner that helps with business execution.

For example, through the Workforce Insights overtime dashboard, information from our time platform is correlated to OSHA incidents reported on in our HR platform. Leaders can uncover safety thresholds exceeded by location, department or manager to home in on where a performance issue may be occurring.

  1. What key benefits and advantages does Workforce Insights have when compared with other tools on the market?

Most other tools on the market force standard charts and data visualization. Workforce Insights allows customers to view their data in the way that is most impactful for their unique business needs.

Another key differentiator is the one-click sharing functionality. Users can take their insights and share that information with the appropriate parties without having to import or export data. The custom reporting and one-click sharing allows users to not only have access to the data, but to make it meaningful and actionable.

  1. Why do you think small and medium-sized businesses need their own HR technology solutions?

Employees at small and medium-sized businesses (SMBs) are often forced to wear multiple hats, and sometimes that even means taking on responsibilities like payroll. HR technology solutions help relieve the administrative burden of payroll and benefits while ensuring reliability and security, while also protecting against the risk of compliance infractions.

What Paycor offers seems to be what’s desired most by SMBs – a platform or suite of functionality at the right per-employee-per-transaction and per-month price point that doesn’t require a customization. A solution that can be implemented and have value derived in three days to three months, and that can adapt with them as their organization grows.

  1. Paycor has run its operations since 1990. How have your clients needs during this period changed, and what is the secret sauce for long-term success?

Since 1990, the technological needs of our clients have changed dramatically. In 1990 computers were large and expensive, “the cloud” didn’t exist, and phones were connected to a landline or, for a select few, in a bag in your car. Since then, clients have had to react to the demands of their workforce; faster access from any device, and our products have had to evolve accordingly.

Our secret sauce for long-term success may be the only thing that has remained the same since 1990 – putting our clients first. We were founded because our CEO believed there was a better way to serve the needs of our clients, and it’s that passion that still drives us today.

  1. Achievements in big-time sports are based on grassroots sports. What can you recommend to HR Tech startups on how to get into the highest league?

The energy around new HR tech offerings through start-ups informs the entire industry. For some of these startups, success looks like being acquired into a larger company and human capital offering. For those wanting to progress into a higher league more independently, I recommend having an openness to partnerships and distribution options, and feedback to the offering itself. The best emerging technologies in HR are built and market-tested quickly.

  1. Since its founding, Paycor has grown to 1,460 people onboard. What do newbies need to know about the company in order to have a successful career with you?

First, excel at the job you are given, and then look for ways to take on more responsibility. It can be dangerous to be too eager to move to the next level without first nailing the task you are given. At the same time, becoming complacent doesn’t allow you to be a change agent in the organization.

To take on that next challenge and excel to the next level it is critically important that associates know and own their personal brand. Your personal brand is what people say about you when you leave the room. Think about the impression you want to leave, and make it.


If you want to share this interview the reference to Stacey BrowningPaycor and The HR Tech Weekly® is obligatory.

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Streamlining the Employee Experience with an HCM

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Ah, the “employee experience.”

It’s a popular phrase tossed around by growing businesses. As more candidates are needed for steady growth, small and mid-sized business owners feel the strain to keep a firm grip on compliance while ensuring employees receive efficient and thorough transition into roles, up-to-date information and certifications, performance review procedures and follow-ups, job satisfaction, and so, so much more.

When your company is climbing from 20 to 50 to 100 employees, the need for true Human Resources can easily sneak up on you. Before you know it, you’re rushing to find answers to HR problems you hadn’t considered — and why would you? It’s not your area of expertise. And Google only helps so much…

When you add to the mix that millennials have officially overtaken Generation Xers as the largest generation in the U.S. labor force, organizations are scrambling to find, nurture, and retain top talent — and some demands must be met to preserve millennial employees.

But it’s not all nap-rooms and foosball tables.

As millennials reach professional maturity, they’re looking less for a “fun-zone” and more for a professional “safe-place” — that is to say, a workplace that understands their unique concerns, fears, motivations, and needs.

Organizations focusing on the employee experience are embracing their workforce in ways rarely seen in generations passed, a precedent that will undoubtedly play a much larger role as emerging generations build on this empowered foundation.

However, these same organizations are quickly finding snags along the way. From recruitment processes to off-boarding, ensuring employees receive professional value, satisfaction, and leadership nurturing add heavy workloads to an already hectic schedule.

We recently spoke with Pete Luciano, co-founder of Human Capital Management (HCM) provider Balance Point, about the pains most often discussed with clients about their processes. As Pete puts it, “Employees are your best assets. If the best talent for your organization is hired, trained, and given opportunities to succeed — and even fail productively — you’ll see growth before you know it.”

HCMs offer simple, cost-effective management solutions for these growing problems — but ultimately, the wealth they provide is up to the organization’s unique approach to the software.

Recruitment

Organizations are spending much more on recruiting top talent. Keeping a constant flow of viable candidates is difficult to manage, but an HCM remedies this time-blockage by continuously cataloguing candidates — even if organizations aren’t hiring at that second.

A potential candidate simply navigates to the website, uploads her/his resume, and fills out an application. From the organization’s perspective, managers can perform online applicant searches and track applicants throughout the hiring process.

Onboarding

As Pete says, “using an HCM to automate onboarding processes is administratively more sensible.” In days of yore, HR was responsible for collecting employee information and manually entering it into the organization’s system. With HCM software, the candidates are in control of their own information.

Prior to the start date, W4s, I-9s, employee handbooks, and other documents are accessed and filled out electronically. Giving new-hires access to their own information promotes transparency and trust within the organization — important standards for young people entering the marketplace.

Performance Reviews

Currently undergoing an evolution, performance reviews provide key insight into the successes and coaching necessary to successfully grow employees.

As mentioned in a recent HR Tech Weekly article, “Employees and their managers can work together on creating performance goals annually or bi-annually and track the progress and closure of the same with feedback and ratings as relevant.”

But every organization has a unique approach that speaks directly to their bottom lines.

HCMs automate performance reviews through tiered processes, measuring competency, goals, and the organization’s core values. Of course, HCMs are customizable in this way, giving each organization the opportunity to tailor performance reviews to their specific needs and standards.

HR, Time & Labor Management, Payroll

Giving employees access to their information, documents, pay grades, calendars, and benefits relieves HR of the time it takes to retrieve this information. Because HCMs are known for their simple, user-friendly interface, minimal training is needed to get employees up-to-speed and editing their information when necessary.

Building these workflows individually, without an HCM, takes time and can be cumbersome to navigate. Having everything located in one place makes it much easier for everybody, from leadership to employees, to manage and maintain.

Off-boarding

Employees retire, quit, or are terminated for many different reasons. Exit interviews offer insight into organizations through the lens of an employee who underwent the entire employee experience. Where are improvements needed? What can make the employee experience more appealing for future candidates?

What is done with the information gathered is ultimately up to the organization. However, HCM off-boarding processes ensure the organization gets its property back, terminates benefits, and ensures that nothing falls through the cracks. When it comes to Benefit/ACA reconciliation, people coming and going from the organization’s health insurance can either save or squander funds.

For small and mid-sized businesses looking for efficiency throughout the employee experience, an HCM provides cost-effective solutions to each facet of the employee’s journey while ensuring compliance, simple management, and real-time reporting.


If you want to share this article the reference to Todd Giannattasio and The HR Tech Weekly® is obligatory.