Paycor Introduction & Partner Strategy
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4 Paycor Introduction & Partner Strategy
5 Who is Paycor?
6 Navigating Trends Engaging & Retaining Top Talent Complex Regulatory & Compliance Market Pace & Scope of Change Sources: Paycor HR Trendcast Report
7 45% of HR leaders worry about recruiting and retaining employees Sources: Paycor HR Trendcast Report For the 2 nd Quarter in a row and 2 nd in history the No.1 concern is hiring and retaining qualified employees. The study found that 89% of companies surveyed do not intend to pursue all planned projects that would increase the value of their firm, with the inability to hire the right employees a binding constraint. Companies indicated that their currently employed managers do not have enough bandwidth to oversee an expanded organization. Hence, their firms pull back on expansion How CFOs Are Feeling About the Economy John Graham, Duke University, 9/9/2017
8 Diverse and Multi-Generational Gen Z (Born after 1995) Five Generations in the Workforce Millennials ( ) Gen X ( ) Boomers ( ) Traditionalists (pre-1945)
9 Data Driven HR leaders will look to improve the recruiting and hiring process by monitoring key performance indicators (KPIs), such as: TIME TO HIRE OFFER ACCEPTANCE RATE COST PER HIRE RETENTION RATE TURNOVER RATE Sources: Paycor HR Trendcast Report
10 Zywave Broker Services Survey
11 Pace & Scope of Change 82% 48% believe many roles that exist today will be automated in the future believe many core HR functions will be automated by 2022 Sources: Paycor HR Trendcast Report
12 Market HR Tech Innovators & Investors Complex Regulatory & Compliance Market Rising Healthcare Costs Focus on Employee Engagement
13 Best of Breed
14 Product Overview
15 What is real-time integrated payroll? Employees are linked by SSN & Paycor payroll ID Individual employee records are exchanged, not full company files Sync of demographics & deduction data How Does It Work? Employee record or payroll deductions are modified Notification created Data is securely sent Change is applied
16 Advantages for brokers Integration makes brokers sticky Remain competitive Maintain control over benefits administration Accurate data reduces agency costs Reduces instances of retroactive enrollment & claims Accurate census for quoting Delegate employee management to HR
17 Advantages for companies Eliminates entering data into multiple systems Improves data accuracy Can be used by companies of all sizes Get up & running quickly
18 Bi-directional demographics Demographic updates can be made in either system New Hires, Terminations, and Rehires: Paycor is system of record Employees address can be updated in either system
19 Base compensation: 1-way Compensation changes will flow from Paycor into Employee Navigator: Base hourly rate Base salary NOTE: EN s annual benefit salary field will not be exchanged
20 Payroll deductions: 1-way Recurring deductions are managed by Employee Navigator & flow to Paycor: Always flow from Employee Navigator to Paycor Can only be overwritten in Paycor We have created an Adjustments report for backdated deductions 401K deductions not currently supported Note: Employees can be blocked if they have grandfathered deductions
21 Exchanged records Types of records supported: Active Part-Time Benefit Ineligible Terminated Types of records unsupported: Non-Employees 1099s K1 LLC members * We designed a "block" feature that allows you to block these records from being exchanged
22 Exchanged fields EMPLOYEMENT RECORDS DEMOGRAPHICS DEDUCTIONS SSN Payroll ID Compensation DOB Hire Date Term Date Full Time First, Last, middle names Address lines 1 & 2 City, State, Zip Home phone Primary Gender Job Title Amount Effective date Change date End date *Note: Exchanged Fields cannot be customized
23 System Demo
24 Next Steps
25 How to Connect: Current Paycor & Employee Navigator Customers STEP ONE STEP TWO STEP THREE STEP FOUR Active in Employee Navigator AND minimum of 2 payrolls processed BEFORE employer eligible for integration Brokers and clients MUST review EN User Guide prior to requesting integration. Most questions can be answered within the documentation Ready to Connect to Paycor Paycor will reach out with details on next steps
26 How to get started: Prospective employers STEP ONE Visit the Employee Navigator Marketplace STEP TWO Click to Contact Partner STEP THREE Paycor representative will be in touch
27 Paycor Contacts Your local Paycor Sales Representative Paycor Corporate Employee Navigator Channel Directors - Vivianne Nix: vnix@paycor.com - John Allen: jallen@paycor.com
28 Q&A
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