In large part, the challenges of human capital management begin with having strong leadership figures in place who can play a key role in guiding the rest of the workforce. If you want your staff on the whole to be productive, you need to have managers who will build strong trusting relationships with their workers, endow them with crucial job skills and push them hard to succeed without being too domineering.
Sadly, many businesses often struggle to find the talent they need to produce strong leadership candidates. Not everyone out there is cut out for upper or even middle management, but it’s important to find people you are – otherwise, you risk lacking authority figures to help the rest of the workforce succeed.
For a recent webinar hosted by Ceridian, Felicia Cheek, senior director of The Hackett Group’s global time-to-pay practice advisory, presented her organization’s “2014 Payroll & Tax Compliance Study.” Polls of attendees corroborated and underscored the study’s findings, which identify areas of top concerns organizations face with statutory regulations having impacts on payroll, tax, human resources and benefits. Success here often hinges on a payroll department’s technology. Typically, greater automation in these systems needs to be a priority. Otherwise, manual workarounds tend to become a necessity—and tend to introduce errors, impeding compliance efforts.
Concerns Are High over Compliance with the Affordable Care Act (ACA)
For its study, The Hackett Group surveyed companies that employ an average of 22,000 staff serviced by payroll in the United States. Among these organizations, 68 percent cite the ACA as their top concern in compliance. At 59 percent, their second highest concern is multistate taxation. Underscoring the industry’s trepidation over the ACA, a poll conducted during the webinar found that just 3 percent of attendees were comfortable with their company’s knowledge of how to comply
While organizations (and HR in particular) always to work towards achieving high levels of employee retention and productivity, it can be variably difficult, depending on the demographics of the particular employees involved. If your staff is made up veteran workers who are comfortable in their positions and have no trouble staying motivated, that’s one thing. But if you have a lot of younger and less-seasoned employees on your hands, that’s a different situation.
A lot has been written about “millennials” in recent years. In the eyes of some leaders, members of Generation Y are “selfish and lazy and too attached to their technology” and aren’t motivated to succeed. But how much of that is really true, and how much is merely a stereotype?
No matter how strong your company’s efforts to ensure corporate health and wellness might be, there are always going to be imperfections in the process, and people are inevitably still going to get sick. Flu epidemics happen – so, too, do numerous other minor little health problems that will surely arise over the course of a year in the office. Try as you might, you’ll never be able to guarantee 100 percent attendance day in and day out.
The solution to the employee sick time problem is not to eradicate it completely, nor is it to bury your head in the sand and ignore it. Neither of these options is feasible. People are going to get sick, and they’re going to miss work. This is par for the course.
When many professionals in 2014 think of the power of transformative technology in HR, they often think of powerful new business intelligence systems with the ability to collect and analyze massive stockpiles of data. They think of comprehensive solutions that are big, complicated and ultimately earth- shattering.
There’s merit to that, but there’s also a much simpler truth in HR tech – it often has its most profound impact in more modest ways. A good technology solution can reform the way your company handles the most basic tasks, such as administering payroll and benefits. As long as it’s efficient and highly usable, it should have a profound effect on your company’s bottom line. The key takeaway here is that usability leads directly to ROI.