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Redefining Human Capital Management

By Chad Richison, Founder & CEO, Paycom

Chad Richison, Founder & CEO, Paycom

Hiring top quality candidates is the biggest challenge for HR managers today. Gone are the days when HR managers used to advertise vacancies on job boards and hope that the position will be filled automatically. Since talented candidates have the upper hand these days with multiple job offers, recruiters need to up their game. To find the right talent, who can understand an organization’s vision and power the business, HR managers need to have the right solution and the software. Addressing this need is Paycom, a provider of comprehensive, cloud-based human capital management software that improves the odds for HR managers in winning the war for talent.

Paycom’s Talent Acquisition is part of the company’s complete solution for human capital management. It offers applicant tracking, tax credits, background checks, talent acquisition e-verify, analytics, and onboarding. With Applicant Tracking solution, HR managers can create and manage posts through thousands of recruiting websites including LinkedIn, Indeed and more with the entire employee hiring data in one system. They can also set up knockout questions to filter out the ineligible candidates and get instant notification of candidates ready to be interviewed. In addition, the critical reports in the applicant tracking system enables the recruiters to ensure candidates comply with EEOC and OFCCP guidelines, classify which recruiting sites drive the most candidates, track the number of days it takes to fill a position, customize a wide range of hiring information for analysis, and set automatic removal for when the vacancies are closed.

"Our technology can accelerate a company’s digital transformation by empowering employees to self-manage their information by connecting directly with their HR database"

With Tax Credits, HR managers can determine the eligibility of each job applicant; get instant notification of a candidate’s potential ability. This software also helps them in locating, securing and administering available tax credits, and monitors the federal tax code for updates. Talent Acquisition also offers background check service so that HR managers make sure that the applicants are qualified to work and do not possess any business risk. The solution helps recruiters in getting instant results based on over 300 million criminal records and 10 million previous searches, and if the candidate’s records are clean, one click auto-populates his or her information system-wide.

Moreover, with Background Checks, HR managers can also screen current employees at any time. The solution helps users maintain Fair Credit Reporting Act (FCRA) compliance, with tools for creating pre-adverse and adverse action letters, and securing storage of results accessible only by authorized users. When a candidate completes an online application, the data is populated in the applicant’s tracking system. This system provides recruiting and hiring managers 24/7 access to their dashboard where they can make job offers, search for tax credits, run background checks, and verify employment eligibility. So when employers are ready to hire, applicant’s data automatically get spread throughout the Paycom system saving them from rekeying the information.

Paycom’s E-Verify software provides secure data entry and storage, 90-day advance notification of employees requiring re-verification. The software also gives the ability to purge I-9s once retention period expires, notification of cases needing to be closed, and download of cases, including closed cases.

Talent Acquisition Analytics is another major offering of Paycom’s Talent Acquisition solution that allows businesses to measure their talent acquisition activity with more insight into their information than any other provider. Its real-time Report Center enables users to not only report across all data stored in the system but beyond multiple years and EINs in a variety of formats.

On the other hand, Paycom’s Onboarding software removes the paper from the equation with a secure, streamlined onboarding process, where all new hire and position information flows throughout the system to eliminate rekeying of data. With the onboarding software, HR managers can assign online checklist of tasks to the new joiners and get notification upon completion. The software also helps in ensuring timely completion of compliance forms with electronic signature verification. Not only this but key items also automatically flow into the employee’s online file for a secure, dated record.

Quality Service is Equal to Happy Customers

No matter which role and what industry it is, Paycom has solutions for all. Other than talent acquisition solution, the company offers time and labor management solution, payroll solution, talent management, and HR management solution to a wide range of sectors that include education, franchises, distribution, financial institutes, restaurants, hospitality, healthcare, manufacturing, non-profits and several more. Also, not by the sectors but Paycom’s solutions are tailored according to different roles too; be it a CEO or IT decision maker or operations executives, the company’s solutions help them in mitigating challenges of their respective fields.

In one such instance, a health care organization for infants and young adults with medical, developmental and therapeutic needs faced a challenge because of the organization’s manual, paper process that were slow and incompatible with increasing personnel changes. The organization’s HR team had the vision to cope up with this challenge, but they needed a partner that provides them a paperless, streamlined system and Paycom proved the best fit. Paycom shifted the client’s HR management procedures to its single-database solution. Since then, the processes are running smoothly.

"With Applicant Tracking solution, HR managers can create and manage posts through thousands of recruiting websites including LinkedIn, Indeed and more with the entire employee hiring data in one system"

Applicants apply online, and applications are routed automatically to the hiring manager. When a suitable candidate is hired, the required information is sent to HR in the click of a button, and automatically spread throughout the Paycom system. During onboarding, new hires do not have to wait for manual processing, they can review and sign documents electronically through ESS. After these systematic changes, managers are also able to monitor growth and have immediate access to employee e-files. Personnel actions, such as pay changes or department transfers, are communicated through electronic forms. “Transfers happen efficiently and smoothly now,” said the HR director of the health care organization, adding HR representatives spend considerably less time fielding personnel questions and focus on building strategy.

In addition, Paycom’s streamlined system saved hiring managers time, and online applications rose from 50 percent to 99 percent. Besides, a new personnel action form policy resulted in a 75 percent reduction in retroactive pay. “Paycom allows more accuracy and accountability. It allows us to become better at our jobs,” said the HR director.

Aiming High with Unique Solutions

Having a robust range of offerings, the company lowers labor costs, drives employee engagement and reduces compliance exposure. The factors that set Paycom apart are its true single-application software, one-to-one customer service model, and its certification from ISO 9001/27001.

As one of the fastest growing companies, Paycom has also been honored and awarded several times, which includes 2018 Fortune’s 100 Fastest Growing Companies List, Forbes’ Fast Tech 25 List (2017), Independent Payroll Providers Association’s Service Bureau of the Year Award, and many more. Recently, the company was placed first in the 2019 Leadership Excellence and Development (LEAD) Awards presented by HR.com. Paycom was declared a winner in the category of Best Innovation in Deployment of Leadership Programs, which recognizes leadership curriculum creatively designed and executed within an organization.

Besides, the company has recently released the Direct Data Exchange. It is the industry’s first comprehensive management analytics tool giving employers insights into efficiencies gained through employee usage of HR technology. The other key features of the Direct Data Exchange are an inclusive, real-time employee usage score, organizational employee usage trends scheduled by the client’s preferred time frame; and total logins to Employee Self-Service through any device, a detailed view into data entries made by the HR department versus those made by the employee, and more.

Talking about the latest development, Chad Richison, Paycom’s founder and CEO, says, “Our technology can accelerate a company’s digital transformation by empowering employees to self-manage their information by connecting directly with their HR database. The analytics generated by our Direct Data Exchange can help businesses achieve maximum ROI from their HR technology through real-time monitoring and tracking of usage trends.”

Today, Paycom serves clients in around 50 states from offices across the country. Being a leader in the HR technology landscape for more than two decades, the company aims to do so in the future also and is engaging heavily with customers to identify new trends of the market.

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