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4 HR Reports for the C Suite

4 Reports Every HR Pro Should Bring to the C-Suite

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4 Reports Every HR Pro Should Bring to the C-Suite

As an HR leader, you are the trend master.

You know that businesses generate more data than ever. Because of this, they have developed an acute desire for metrics.

You know that even though the goals of businesses continue to be product- and output-centered, the way business happens has shifted.

And you’re right. According to a 2017 Deloitte survey of more than 10,000 HR and business leaders, “88 percent of companies believe they need to redesign their organization to succeed in the digital age.”

However, as a leader, it’s your job to understand what’s behind the buzz, figure out the best way to capitalize on what’s trending and provide cogent recommendations to a C-suite executive looking for answers.

Reports provide quick, coherent overviews from employee retention to hire quality; they help HR leaders dial into the metrics that matter. Although every business is unique and requires different measurements from HR, there are few metrics and reports that may place businesses ahead of the digital curve while still meeting and then exceeding senior leadership’s expectations. Here are four HR reports the C-suite really wants to see.

  1. The Cost Per Hire report

As the saying goes, you’ve got to start somewhere. Understanding how much it costs your team to hire each employee is the bedrock from which other metrics originate. It’s surprising how many businesses neglect this metric, when according to Glassdoor, “It’s crucial to have a solid estimate of your cost per hire (CPH). Knowing this figure can help you make smarter investment decisions, define your referral bonuses and save your organization money in the long run.”

One helpful formula for calculating CPH is:

(Internal Costs) + (External Costs) / Total Number of Hires in a Time Period

 Once you discover your company’s CPH, other metrics, such as employee ROI and quality of hire, can be built from this cost, which provides a clear picture for how that employee investment is really performing. 

  1. The Quality of Hire report

The real business MVP of 2017 is the employee. Consequently, understanding the effectiveness of your hiring process is crucial to the health of your business. That’s where a quality of hire report comes in. Quality of hire metrics can be tricky to identify and are continuously evolving, but one useful formula pulled from HR Daily Advisor is:

(Performance + Retention + Productivity) / N

For purposes of this formula:

  • Performance equals the average new-hire performance rating
  • Retention equals the percentage of new hires still employed after a year
  • Productivity equals the percentage of the new hires achieving full productivity scores during a desired period
  • N is the number of indicators used in the formula

Although some quality metrics are subjective, they are useful when consistently reviewed. Called the “holy grail of recruiting,” figuring out your business’s quality of hire numbers minimizes hiring problems and maximizes employee ROI. 

  1. The Turnover Rate report

According to a recent article in Fortune, “The biggest priority, and concern, for business leaders in 2017 will be retaining employees in a competitive talent marketplace.” With companies pulling out all the stops in hopes of keeping talent and enticing new candidates, today’s job market is fierce.

Turnover reports outline the number of employees who have left, and then dig into whether the number is higher or lower or than normal. High turnover rates exacerbate hiring costs and lower productivity and morale; therefore, a consistent report is a good way to gauge the health of a business. Monthly turnover metrics also inform upper management of any significant trends they may need to address. 

  1. The Revenue Per Employee report

 Senior executives make decisions based on facts, not feelings or opinions.” This quote from an article in HR Magazine articulates something HR leaders know better than most: Almost every company’s biggest expense is its employees.

Therefore, the most powerful measurement for the C-suite is the return (or lack thereof) on investment for those employees. There is a reason top tech companies excel with these numbers. Revenue per employee (RPE) is simple to calculate:

Total Revenue / Total Number of Employees

This metric determines how effectively HR is hiring and training their employees. As long as HR leaders ensure they compare their company’s RPE to similarly sized businesses from their industry, RPE can help senior leaders confidently make game-time decisions.

In summary, HR leaders can actively contribute to business decisions by presenting the C-suite with metrics that matter. In an interview for HR Magazine, compensation analyst Jennifer Triumph noted, “[HR leaders] need to present data that show our human capital strategy is effective and that we are acquiring, developing and deploying the proper talent.”

The data-driven desire of those in senior leadership isn’t going anywhere and HR needs to be aware of their business’s metrics in order to lead their workforce into a successful future.


Chad Raymond

by Chad Raymond


Author Bio: With over 19 years of experience in employee engagement, benefits administration and government compliance, Chad has unparalleled knowledge in the fields of leadership and human resources. Chad has worked in several different capacities with Paycom including leading our product development team and HCM initiatives as well as the former director of Paycom’s service department. Chad’s vision and execution helped empower executives and their teams to reach their full potential, ultimately leading to his role as Paycom’s vice president of HR.

Paid Family Leave Program

New York to Implement Nation’s Most Comprehensive Paid Family Leave Program

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New York to Implement Nation’s Most Comprehensive Paid Family Leave Program

Private employers in the state of New York will soon be required to provide up to 12 weeks of paid family leave. The new law will apply to all employees of employers covered by the state’s worker’s compensation law and will be completely employee-funded via payroll deductions. Public employers are permitted to participate by opting-in to the program.

Growing Trend

These types of “paid family leave” laws continue to gain momentum. Three other states (California, New Jersey and Rhode Island) provide workers with partial pay during parental leave. Some cities have even joined in on the trend. San Francisco passed a paid family leave program in 2016, and Washington, D.C. also recently approved one that will take effect in 2020.

New York lawmakers championed this law as a pivotal step in the pursuit of equality and dignity in both the workplace and home. “New York enacted the strongest paid family leave plan in the nation to ensure that no one has to choose between losing a job and missing the birth of a child, or being able to spend time with a loved one in their final days,” said New York Governor, Andrew Cuomo, upon passage of the law.

Employee Eligibility

The New York legislation originally passed in April of 2016, but the obligations for employers and employees were announced just recently.

Beginning January 1, 2018, the state’s paid family leave program will provide employees with employment protection and partial wage replacement if they spend time away from work to:

  1. bond with a child (including fostering or adopting)
  2. help relieve family pressures when someone is called to active military service
  3. care for a close relative with a serious health condition

A “close relative” as defined under the law includes a spouse, domestic partner, child, parent (including in-law), grandparent and grandchild. An employee must be employed full-time for 26 weeks, or part-time for 175 days to be eligible for a paid family leave benefit. An employer may permit an employee to use vacation or sick leave while on leave, but may not require its use.

 Employer Impact

The complete 12-week benefit will not be implemented fully until 2021. The amount of paid family leave and the percentage of the employee’s salary paid will be realized over four years:

 

Year Weeks
Available
Max % of
Employee Salary
Cap % of State
Average Weekly Wage
1/1/2018 8 50% 50%
1/1/2019 10 55% 55%
1/1/2020 10 60% 60%
1/1/2021 12 67% 67%

 

Employers will be required to purchase a paid family leave insurance policy or self-insure. The employee will pay the premiums of the policy via payroll deductions, beginning July 1, 2017.

For more information about the phase-in process, calculation of the Average Weekly Wage, or general information on the program, visit the New York paid family leave website.

Disclaimer: This blog includes general information about legal issues and developments in the law. Such materials are for informational purposes only and may not reflect the most current legal developments. These informational materials are not intended, and must not be taken, as legal advice on any particular set of facts or circumstances. You need to contact a lawyer licensed in your jurisdiction for advice on specific legal issues problems.

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Posted in Blog, Employment Law, Featured, Pre-Employment, Talent Acquisition, Talent Management

Jason Hines

by Jason Hines


Author Bio: Jason Hines is a Paycom compliance attorney. With more than five years’ experience in the legal field, he monitors developments in human resource laws, rules and regulations to ensure any changes are promptly updated in Paycom’s system for our clients. Previously, he was an attorney at the Oklahoma City law firm Elias, Books, Brown & Nelson. Hines earned a bachelor’s degree from the University of Central Oklahoma and his juris doctor degree from the Oklahoma City University School of Law, where he graduated cum laude. A fan of the Oklahoma City Thunder, Hines also enjoys exploring the great outdoors with his wife and daughter.

Pre-Board

5 Ways to Pre-Board Hires and Improve Employee Experience

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5 Ways to Pre-Board New Hires and Improve the Employee Experience

In today’s world of instant gratification, today’s workforce expects a good experience fast and are willing to walk if their expectations aren’t met. According to the Harvard Business Review, almost 33 percent of new hires start searching for a different job within the first six months of employment. Tackling that ambivalence early is crucial. One tangible way to ensure your employees feel engaged is through pre-boarding – preparing employees for their first day. There are several reasons employers should care about their new employee’s initial interactions with the organization. Aside from retention, pre-boarding builds confidence and gives new hires a good impression of their workplace.

Pre-boarding isn’t just a feel-good buzz word, either. It’s a win-win for employees and employers. This is especially true when it comes to the universal desire for day-one productivity. The C-suite values new hires who can become contributors faster and millennial employees crave the opportunity to do just that.

So, how do you incorporate pre-boarding into your new hire process? Below are five simple ways to get you started.

1. Hello there

Information is a necessity. Starting a new job is nerve-wracking, which is why a friendly, informational new-hire email is the perfect way to calm jittery nerves and set the stage for success. Not sure what to include? Let new hires know where to park, remind them of the dress code, and (if applicable) inform them about your HR technology and how to log-in. Whatever you decide to include, make sure it’s clear, concise and friendly.

2. Get social!

You already know how crucial a social media presence is for businesses, which is why you likely have incorporated a robust strategy that supports not only business goals, but also highlights your engaging corporate culture. Well, it’s time to show it off to a socially conscious workforce! Included in the welcome email should be your Facebook, Twitter, LinkedIn and Instagram pages, and encourage new employees to explore and engage with their preferred social channels. It may seem like a small gesture, but facilitating a space where new hires have the ability to discover your values, culture and people is actually quite big.

3. A video is worth a thousand words

So you’re pretty proud of your hip office and energized employees? Put them in front of a camera! Videos that highlight your office, people and culture are fantastic ways for new hires to feel welcomed and inspired. Videos also give employees an inside look at the office layout and an understanding of how people interact with each other. Not sure a video will work? Think again. Since one-third of online activity is spent watching videos, it’s actually the perfect way to pre-board a YouTube-loving workforce.

4. A little swag

Everyone loves a good swag bag. If your company is big enough to send a few company-branded products, do it. You’ll be amazed at how far a logo-laden mug or package of pens will go to make new hires feel like a part of the team. Don’t have branded items? A hand-written note from their future manager on company letterhead also will help new hires feel part of something bigger. Go one step further and include a restaurant gift card and a note to take a moment to celebrate their new position with family, your treat.

5. Surveys and Training through LMS

Employees also want a clear picture of expectations and an understanding of how to carry out responsibilities. Training is important to today’s workforce, and no matter the hire’s age, he or she wants to feel informed and prepared.

With an online self-service portal, new hires can begin on-demand training through a learning management system as part of pre-boarding. Courses could include company welcome and meet-the-team videos, the employee handbook and further information about their specific roles. Training done before day one helps new hires acclimate to their jobs quicker and feel accomplished early.

All the time and effort put into your Informative emails, social media efforts, welcome videos, branded coffee mugs, and that first day of on-boarding adds up in both expenses and employee time. Be sure to measure your company’s efforts by surveying new hires 30 days after their start date with a survey tool. By consistently asking “How did we do?” you’ll soon be able to evaluate and improve on your pre- and day of on-boarding process.

Different companies quantify employee experience differently; however, every company can benefit from new employees who feel welcomed and ready to get down to business. And there’s no time like now, to start elevating your employees’ experiences.

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Posted in Blog, Employee Engagement, Featured, HR Management, Learning Management, Talent Acquisition, Talent Management, What Employees Want

Chad Raymond

by Chad Raymond


Author Bio: With over 19 years of experience in employee engagement, benefits administration and government compliance, Chad has unparalleled knowledge in the fields of leadership and human resources. Chad has worked in several different capacities with Paycom including leading our product development team and HCM initiatives as well as the former director of Paycom’s service department. Chad’s vision and execution helped empower executives and their teams to reach their full potential, ultimately leading to his role as Paycom’s vice president of HR.

LMS Content

LMS 101: 4 Tips for Your Own E-Learning

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Learning Management Systems 101 is a weekly blog series exploring how employers can rethink traditional employee training and move toward e-learning solutions, which are faster, easier to access, and more cost effective. “4 Tips for Creating Your Own E-Learning” is the sixth post of the series.

LMS 101: 4 Tips for Your Own E-Learning

Today’s workforce is increasingly comprised of people who are paid to think and learn. In order to provide the best new content for your employees, your online learning course needs to be a carefully crafted mix of relevancy and entertainment to ensure employees retain the information. Here are four tips to generating online learning content that can help today’s learners.

On-Demand Webinar: Higher Education, Engaging Employees Through E-Learning

1. The Reason(s) Why

As you build new learning content, ask yourself:

  • What is RED today that needs to be GREEN tomorrow?
    • What report margins am I looking at, and which elements need to increase or decrease?
  • What are the c-suite level stress points, and how can this training course impact those business needs?
  • Who is my audience? All employees or just a select department, possibly a management level or maybe this course is just for clients?
  • What is the deadline for employee implementation of this new knowledge?

These questions are relevant to every business, no matter your industry, and by identifying the reasons why you want to build a new e-learning course, you now have your purpose.

2. The Call to Action

At this point, you know the purpose of the course, so how are you going to grab your audience’s attention? Will this course increase chances of promotion, or maybe provide the audience with tools to close more sales? What is your call to action (CTA), meaning, what is the stimulus to achieve this aim, what is the reason to sit through an online training class?

Factual research is particularly important when crafting your CTA, whether you’re administering training that deals with government regulations, industry guidelines, selling tactics or customer service improvements. Be sure to revisit company policies and procedures – such as those pertaining to employee benefits – to ensure learners receive the most current and relevant information as they set aside this time to learn.

3. Design the Training Experience

The ability to learn fast is a dynamic competitive advantage in business; and a good learning management system (LMS should allow you publish online training materials incorporating different tools, which all need to answer the learner’s unspoken question, “How fast can I see success?

  • Videos
  • Podcasts
  • Webinars
  • Text
  • PDFs
  • PowerPoint presentations

The current generation entering the workforce, the millennials, are tech-dependent and expect to learn on the job, with modern tech, and quickly. Use their expectations to your businesses advantage. By utilizing a mix of media you can increase information retention and engagement, and will help your audience, no matter the generation, to learn fast. So, choose the mediums that best allow you to convey your message, and the motivation behind the learning opportunity.

4. Measure the Outcome

Producing effective e-learning content is meaningless if you can’t report it. If you can’t automatically survey to learn the effectiveness of your new 20-minute course, then what did you really do? A sound LMS should provide metrics by region, manager, percentages and a centralization point to access data that leads to productive reporting of the learning process.

With these online learning tips, you can design meaningful and helpful content to enable your employees to reach their career objectives and your business goals. And, if implemented effectively, e-learning can lead to a happier and more engaged workforce.

To learn more about the evolution of corporate learningemployee training, why tech is crucial to onboarding, how to boost employee engagement and the latest teaching trend in the workplace, be sure to check out our entire LMS 101 series.

 

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Posted in Blog, Featured, HR Management, Learning Management, What Employees Want

Jessica Melo

by Jessica Melo


Author Bio: Melo serves as the Director of Sales Training, she is a graduate of Rutgers University and holds a Managerial Economics professional certificate from Dartmouth University. Passionate about education and business, she oversees new hire & intern development, leadership training and continuous education. Her specialties in corporate education are in designing effective learning strategies including governance, alignment and measurement. Outside of work, Jessica is a strong supporter of wildlife and anti- animal cruelty organizations.

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