How to Keep Your HCM Data in Tip Top Shape. Kelly Sprekelmeyer, Customer Service Manager, PlanSource HCM

Transcription

1 How to Keep Your HCM Data in Tip Top Shape Kelly Sprekelmeyer, Customer Service Manager, PlanSource HCM

2 Agenda What is HCM Data? Potential Impact of Bad Data Common Pitfalls of HCM Data Your Data is Clean! Now What? 2

3 The term HCM Data includes all data related to the employee life-cycle, from recruiting to off-boarding and every milestone in between. Your HCM data must be constantly reviewed for integrity and accuracy. 3

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5 The Potential Impact of Bad Data

6 The Potential Impact of Bad Data Employee Hired SSN not verified

7 The Potential Impact of Bad Data Employee Promoted Job Changes Incomplete Supervisor Updates Required Update Cost Centers Approvals Access to Sensitive Data Access to Restricted Programs and Files General Ledger & Accounting Org Charts Analytics & Reporting

8 The Potential Impact of Bad Data Employee Promoted Job Changes Incomplete Supervisor Updates Required Update Cost Centers Approvals Access to Sensitive Data Access to Restricted Programs and Files General Ledger & Accounting Org Charts Analytics & Reporting

9 The Impact of HCM Data on Your Business Payroll Accuracy Compliance People Analytics Security Company Strategy Inaccurate or incomplete HCM data can negatively impact all aspects of your business: Clean and accurate HCM data can increase payroll efficiency, decrease compliance issues, impact employee retention, ensure proper security and influence company strategy. 9

10 Common Pitfalls of HCM Data Company Mergers and Acquisitions Corporate Structure Changes Employee Job Classifications Benefit Plan Compliance Sick Leave Compliance Tax Registrations and Configuration E-Verify and I-9 Compliance 10

11 Common Pitfalls of HCM Data

12 Mergers and Acquisitions Companies often fail to involve HR and Payroll experts in the early phases of a merger or acquisition plan. Equifax Workforce Services American Payroll Association Society for Human Resource Management Employment/Tax Attorneys HCM/Payroll Vendor 12

13 Mergers and Acquisitions PlanSource Carry over HCM of customers FICA, FUTA have and access SUTA to our wages partner = savings Equifax up to provide to $10,000+ consultation per and employee. recommendations based upon your company s unique Failure needs. to reach out to state agencies can result in fines for SUTA dumping, even if unintentional. They can even handle paperwork with employment and Moving tax agencies. wages All to of these correct services FEIN are offered due to at a considerable the wrong savings start date compared can require to attorneys hundreds fees. of hours processing corrections. 13

14 Corporate Structure Changes Company name changes Relocation of corporate headquarters Opening new or remote locations Change in named officers Change in company or corporation type 14

15 Corporate Structure Changes Submit changes to local, state and Federal agencies Update HCM profiles with new company information Create new work location profiles & taxes for affected employees Notify payroll provider to obtain new Powers of Attorney PlanSource HCM offer access to HR Answers Now a comprehensive HR and Payroll knowledge database powered by Wolters Kluwer 15

16 Employee Job Classifications Under FLSA, employees must meet a job duties test to be classified as exempt from overtime. EEOC requires employees be properly classified for annual compliance reporting Workers Compensation insurance requires that employees are coded to the correct classification for insurance purposes based upon their job duties PlanSource HCM houses these classifications at the Job Code level to help you remain compliant, and offers robust reporting features to meet your annual requirements. Best Practice: Run reports within your HCM system to review and correct classification data at least annually, or after any major company restructure. 16

17 Benefit Plans and Compliance Are your life events compliant? Are you reviewing and approving Evidence of Insurability submissions by your employees regularly? Are you monitoring employee hours, offers and coverage costs to ensure compliance with the Affordable Care Act? Do you know your eligibility drivers for your plans? Are your export files complete and being sent timely to carriers with enrollment and change data? Are your benefit deductions feeding into payroll accurately? 17

18 Benefit Plans and Compliance PlanSource HCM offers a comprehensive HCM, Payroll and Benefits solution offering: Single system of record for employee data Real-time API data feed of demographic data Real-time API data feed of benefit deduction data ACA payroll data integration Industry-leading reporting features Dependent audits available Leveraging a comprehensive HCM, Payroll and Ben Admin tool with a single data entry point helps keep your data clean 18

19 Sick Leave Compliance Do you operate in any states or cities with Sick Leave Laws? If you have employees working in one of these locations*, there are special rules regarding paid and/or unpaid sick leave for your employees. Be sure to choose an HCM provider who can support the various regulations PlanSource HCM provides all of the tools required to keep your plans compliant *Note this list of locations may not be inclusive and is meant to be demonstrative of the many variations each state and locality may have regarding sick leave. Please check with your local or state agencies for more guidance. 19

20 Sick Leave Compliance Don t underestimate the basic tools at your disposal Research and bookmark organizations who follow employment and labor law in your state(s) Set up Google Alerts for articles pertaining to paid sick leave laws Sign up for and read newsletters or alerts from trusted payroll providers 20

21 Tax Registrations and Configuration Review and approve ALL employee address changes and their potential tax impact Work locations should be defined as the physical addresses where your employees perform work. Register with every payroll tax agency where your employees perform work. Ensure new hires are being reported to the appropriate states Ask your current HCM vendor for more information on tools that may be at your disposal. 21

22 Tax Registrations and Configuration PlanSource HCM offers a powerful geo-location tool Verify addresses as they are entered Suggest taxes based upon verified address Reports show recommendations vs. selection PlanSource HCM handles all New Hire Reporting requirements for all states of operation Offers workflows to require Admin approval on ANY employee changes made in the system before taking effect. 22

23 E-Verify and I-9 Compliance I-9 audits are performed by Immigration and Customs Enforcement (ICE) The average penalty assessed to an employer following an audit = $25k-$28k No space can be blank. It must be filled out with N/A if it does not apply. Errors require a new form. Nothing can be crossed out or corrected. The employer s designee who signs the form must see original forms of ID. 23

24 E-Verify and I-9 Compliance E-Verify is a FREE internet-based system provided through the US Dept. of Labor that verifies identity and employment eligibility. Only 10% of all employers leverage this free tool today Only employers who use E-Verify can require an SSN on the I-9 Form Several sources indicate E-verify will be mandatory for ALL employers in the next 2-3 years PlanSource HCM customers using our integrated Applicant Tracking & OnBoarding have access to E-Verify as part of the online hiring process. 24

25 Your Data is Clean Now What?

26 Audits and Reporting Made Easy Compliance Reporting Automated New Hire Reporting EEOC-1 Reporting VETS Reporting Worksite Reporting ACA Review and Filing Required and Potential Audits are a Snap! 401(k) Discrimination Testing 401(k) Plan Audits I-9 Audits Workers Compensation Audits and more!! 26

27 Get Bells and Whistles for Your HCM Data Talent Analytics: retention and high performers Interactive org charts Total compensation statements Real-time ACA measurement & offer automation 27

28 Data Quality Cycle 28

29 Closing Video 29

30 Q & A 30