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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.