Category: HCM

How Time & Attendance Systems Save Businesses Time and Money

Posted on by counterpoint1

In today’s fast-paced business environment, companies are continually looking for ways to improve efficiency, cut costs, and enhance productivity. One area often overlooked is the importance of accurate time and attendance tracking. According to the American Payroll Association (APA), adopting time and attendance systems offers businesses substantial financial benefits, including reductions in time theft, fewer payroll errors, and improved overall productivity. Here’s how it can benefit your company:

Reduce Time Theft and Buddy Punching

Time theft is a significant issue for many companies, costing employers up to 5% of total payroll. Common practices like “buddy punching,” where one employee clocks in for another, can result in substantial financial losses. Traditional manual tracking systems are often susceptible to these kinds of inaccuracies. Additionally, the risk of time theft has increased with the rise of remote work.

However, automated time and labor management solutions combat these issues by providing accurate and real-time tracking, ensuring that employees are paid for the exact hours they work. With advanced features such as geo-location tracking, these systems drastically reduce the opportunities for fraudulent behavior, helping businesses save on payroll costs.

Decrease Payroll Errors

Another critical area where businesses can benefit from automation is in reducing payroll errors. Manual payroll processing is notoriously prone to mistakes, with the APA estimating that such errors can account for 1% to 7% of total payroll costs. These mistakes not only result in overpayments or underpayments but also consume valuable time when correcting discrepancies. 

Automated systems streamline payroll processing by automatically calculating hours worked, overtime, and deductions, reducing the risk of human error and ensuring employees are paid accurately. This leads to direct cost savings and a more satisfied workforce.

Improve Productivity

Time savings are another major advantage of automated systems. Manual payroll processing is time-consuming, often requiring hours of administrative work every week. By automating time tracking, businesses can free up valuable resources. 

According to the APA, many organizations report saving several hours each week by eliminating the need for manual timekeeping. This allows HR and payroll departments to focus on more strategic tasks, such as employee engagement and development, ultimately enhancing overall productivity.

The APA’s data clearly demonstrates that implementing automated time and attendance solutions can lead to significant cost savings and operational improvements. By reducing time theft, minimizing payroll errors, and improving productivity, these systems can provide your business with the tools you need to streamline operations and improve your bottom line. 

Now is the time to invest in automation and take control of your payroll processes. Reach out to us today to get started!

Top Tips for Optimal Onboarding

Posted on by counterpoint1

Bringing new employees up to speed quickly and effectively is crucial for both their success and the overall success of your company. Following onboarding best practices not only helps new hires integrate smoothly but also sets the tone for their future performance and engagement. 

Here are some key elements to include in your onboarding process to ensure it is comprehensive and effective.

1. Give Them a Welcome Tour

First impressions matter, and a welcome tour can make new hires feel valued and included from day one. Walk new employees around the office, introducing them to their team members and key personnel. If your employees are remote, schedule video calls to facilitate introductions. Show them their work area and important locations like restrooms, the kitchen, and common areas. This simple gesture helps new hires feel more comfortable and familiar with their new environment.

2. Verify Completion of Paperwork

Ensure that all necessary paperwork is completed promptly. Schedule a meeting with HR to assist new employees in submitting all required forms and information. If you use onboarding software, this process can be streamlined and made more convenient through a self-service platform. Address any questions they may have about the paperwork, ensuring clarity and compliance.

3. Communicate Company Policies

A thorough understanding of company policies is essential for new hires. Go over payroll procedures, work hours, time-off requests, and clocking in and out. Clearly explain communication expectations and any specific practices relevant to their role. Providing a comprehensive overview of these policies helps prevent confusion and sets clear expectations from the start.

4. Schedule Necessary Training

Training is a critical component of effective onboarding. Whether through a learning management system (LMS) or other formats, ensure that new employees receive the technical, compliance, and role-specific training they need. This not only helps them become productive more quickly but also ensures they understand company standards and procedures.

5. Pair New Hires with Experienced Team Members

Even if your company doesn’t have a formal mentorship program, providing new hires with a buddy, mentor, or coach can be incredibly beneficial. A buddy or mentor can guide them through their first few weeks, answer questions, and provide insights into the company culture. This support system helps new employees feel more connected and confident in their new roles.

6. Assign Projects Early On

Don’t hesitate to assign new hires tasks and projects early on. While they may need time to acclimate to the company culture, team dynamics, and work policies, practical experience is invaluable. Assigning projects allows new employees to apply their skills, gain hands-on experience, and start contributing to the team’s goals.

7. Set Future Expectations

Clearly outline upcoming projects and the support you will provide to help them succeed. Work with new hires to set goals for the year and develop a plan for their professional development. This proactive approach shows that you are invested in their growth and helps align their efforts with the company’s objectives.

8. Check In Regularly

Frequent feedback is essential for new employees. Schedule weekly check-ins for the first month to address any concerns, provide guidance, and offer feedback. These regular interactions help new hires feel welcome and secure. Additionally, arranging social events with teammates can facilitate integration and foster a sense of belonging.

An effective onboarding process is a critical investment in your new employees and your company’s future. By following these best practices, you can help new hires transition smoothly, feel valued, and quickly become productive members of your team. Prioritizing a comprehensive and supportive onboarding experience sets the stage for long-term success and employee satisfaction.

To learn more about how our software and services can support your onboarding processes, request a call with us today!

Is Earned Wage Access Right for Your Business?

Posted on by Susan Prebola

Did you know…

78% of Americans are living paycheck to paycheck, and

44% have less than $500 saved for expenses?

A rising trend among employers to help ease their employees’ financial burdens is to implement solutions that enable employees to access earnings outside of the traditional payroll timetable. Earned wage access (EWA) is one such solution. This approach allows employees the ability to access their wages promptly through pay cards and digital wallets without disrupting business operations. This not only benefits the employees but also enables employers to enhance the overall employee experience. In fact, 95% of employees would be interested in working for an employer that provides EWA.

Benefits of Earned Wage Access for Employees:

Financial Flexibility

EWA enables workers to retrieve wages before the next scheduled payday. This access is crucial for handling unexpected expenses like medical bills or car repairs without resorting to costly loans or credit card debt. It also helps in avoiding overdraft fees by ensuring employees have funds when needed.

Reduced Stress 

Financial stability is closely tied to mental well-being, and the ability to access earned wages can alleviate anxiety about meeting financial commitments. It empowers employees to take control of their finances, leading to a more positive mindset.

Better Work-Life Balance

Employees can attend to personal matters without the stress of waiting for payday, enhancing their productivity at work. This benefit extends to reduced dependence on payday loans with steep interest rates, breaking cycles of debt.

Benefits of Earned Wage Access for Employers:

Boost Retention and Recruitment 

Companies that offer this benefit demonstrate care for their employees’ financial health. This helps with attracting and retaining top talent. It also contributes to a fairer workplace, promoting equality and appreciation for employees’ hard work.

More Productive Workforce

When workers have access to their wages, they are less distracted by financial worries and can concentrate better on their tasks. This can result in higher efficiency and output across the organization.

Streamline HR Processes 

EWA reduces the need for manual payroll advances or responding to inquiries about pay. This saves time and resources, allowing HR teams to focus on more strategic initiatives.

Cost Savings 

Finally, and perhaps most importantly, with improved retention rates and increased productivity, organizations can see a positive impact on their bottom line.

Is it Right for Your Business?

EWA can benefit a wide range of companies, but certain industries may find it particularly advantageous, particularly those where employees often face financial challenges due to irregular work schedules, hourly wages, or high turnover rates. These industries include retail and hospitality, service, healthcare, manufacturing and construction, and education.

To learn more about EWA and how it can potentially benefit your company, schedule a call with us. 

What Makes Our HCM Technology Special?

Posted on by counterpoint1

Updated December 17, 2024

Industry Analysts Weigh In

When vetting payroll and HCM solutions to support your business, it’s in your best interest to seek out third-party validation. Customer review sites and industry analyst reports like those published by Sapient Insights, NelsonHall, iSG, and Nucleus Research provide an unbiased assessment of providers to help with the selection process. 

isolved, our HCM technology partner, is regularly recognized by independent firms evaluating the HCM space. Here are just a few of the significant accolades our platform has recently received.

Leader in Payroll

Providing accurate and timely payroll isn’t only required by law, it’s also critical to employee retention. A payroll solution that is intuitive and reliable is essential to maintaining an engaged and productive workforce.  

Analyst group NelsonHall gives insight into the capability of vendor software and services, identifying vendors that excel across a wide spectrum of criteria. isolved was acknowledged as a Leader and second overall in its Vendor Evaluation & Assessment Tool (NEAT) evaluation of payroll providers.

Leader in Core HR and Talent Management

iSG, a leading global technology research and advisory firm, recently released its Provider Lens evaluation for HCM. In its report, isolved was named a Leader in Core HR plus Talent Management for the small to mid-market.

Here are a few of their takeaways about isolved: Continuous customer listening as part of product innovation, differentiated industry focus spanning many verticals, and advanced analytics.

#1 in Adoption

Sapient Insights’ Annual HR Systems Survey includes input from verified customers who utilize HR software. Its 27th edition found that isolved is the top single solution in SMB payroll adoption, for the third year in a row.

isolved was recognized among the top five providers for user experience in nine distinct product categories, tailored for small and medium-sized businesses. Additionally, mid-market organizations find isolved highly scalable, with top satisfaction ratings in payroll, benefits, onboarding, and time.

The takeaway: Customers and vendors alike, from small businesses to mid-market enterprises, consistently rank isolved as their top choice.

Applauded for Value

Within its Nucleus Research’s 2023 HCM Value Matrix, isolved was recognized as a Facilitator for its ability to enable businesses to implement the features that they need when they need it, avoiding the cost and complexity of capabilities that do not fit their current requirements.

Finally, isolved made its debut in the Forrester Wave in 2023. In its 28-criterion evaluation of HCM providers, Forrester identified the 11 providers that matter most, evaluating them as Leaders, Strong Performers, Contenders, and Challengers. In it, isolved was named a Strong Performer for HCM.

These accolades mean that when you choose Counter Point as your payroll and HCM partner, you gain access to top-notch support and an award-winning, industry analyst-recognized HCM platform. Schedule a call with us to discover what the buzz is about!

2 Compelling Reasons to Invest in HCM Technology

Posted on by jess

Human capital management (HCM) solutions have evolved over the years from systems of record to sophisticated tools that can maximize a workforce’s productivity and profitability. 

Providers once advertised…

“a single record for each employee”

“seamless integration”

“fewer errors and redundancies”

“lessened administrative burden”

While all are very compelling reasons to invest in human capital management technology, today’s sophisticated platforms provide these benefits and much more. Here, we examine two.   

Mitigate Non-Compliance

Maintaining compliance with today’s ever-changing employment laws is a universal concern among employers, big and small. With good reason.

According to research…

U.S. companies have at least a 10.5% chance of having a charge filed against them.

The average cost of a lawsuit is $160,000 and takes almost a year to resolve.

Cloud-based HCM systems store and maintain all employee data in one place, which is essential to maintaining compliance. Having this data accessible 24/7 makes it easier to spot trends, set alerts, and configure workflows to help you identify and flag disparities.

Time and labor management software helps employers effectively calculate sick time accrual without relying on manual processes. It can also help satisfy the record-keeping requirements of sick leave laws.

Executive dashboards provide a high-level snapshot of a workforce’s demographic makeup, job titles and compensation packages in real-time. This information is essential in helping maintain adherence to pay equity laws.

Finally, standard and ad-hoc reporting capabilities allow for the running of reports necessary to analyze data and make critical decisions. 

Better EX and Higher Retention

Creating a positive employee experience (EX) is critical to an organization’s success. A favorable EX results in a higher level of productivity and a lower incidence of turnover.

Many HCM tools can enhance EX. We’ll cover just a few, beginning with talent acquisition.

Applicant tracking software impacts EX in two ways. First it helps source better-suited candidates that fit the company’s needs and culture. Second, it provides ease of execution when it comes to applying for a job, which candidates expect. Technology makes the process faster, easier, and more streamlined. Employees carry that first impression of the organization throughout their career.

Once hired, onboarding platforms keep the positive momentum going. The ability to complete necessary forms online spares new hires from the dreaded first day paperwork.

Learning management systems (LMS) can provide the necessary training and career development employees crave. According to research conducted by our technology partner, isolved, 44% of employees say learning opportunities are what keeps them engaged at work – the top response.

Last, but far from least, employee engagement platforms are the solution for organizations who are looking for a comprehensive tool to connect and revive their workforce. Features like social media feed walls, survey functionality, crowdsourcing, goal-setting, and next-level performance reviews ensure employees are collaborating, communicating, and connecting.  

Need Another Reason?

The experts at Counter Point HCM are ready to assist with all your compliance and talent management needs. Schedule a call today to discover how to leverage technology to meet and exceed your goals.

What to Demand from Your HCM Solution 

Posted on by jess

When human capital management is done right, the result is an employee experience that helps recruit, retain and, ultimately, drive revenue. This upside to human capital management is why 40% of HR leaders are planning to invest in a platform this year.

HR leaders want more from their technology. Not only do they want better service and better software, but they also need it to be more comprehensive. A scalable and secure human capital management platform that is easy for employees to use, gives business leaders access to data, and is intelligently connected is what HR leaders want today. With the number of providers and solutions on the market, HR leaders can shop around to get what they want.

Our technology partner isolved surveyed 500 HR decision-makers to uncover what they expect from a human capital management (HCM) platform. Their responses are exactly what you should look for when vetting HCM solutions.

The technology is a full end-to-end platform 

The employee experience is top priority for HR leaders. Organizations make the mistake of evaluating platforms with only payroll in mind when payroll is only one part of the employee experience. To truly reap the benefits of intelligently connected HCM, you need to focus on the entire employee life cycle. Your platform should connect and streamline every aspect from onboarding to offboarding.

It grows with the company 

You may be thinking “all I need is payroll right now.” But as your business evolves you need a platform that can address your needs. An HCM platform that grows with a company is key, as is a service provider who can implement a staged roll out of what is needed now and suggest what is needed tomorrow. It’s a mistake not to choose an HCM platform that prioritizes being future-ready, today.

It’s easy for all employees to use 

Employees today expect the technology they have at work to perform like the technology they access in their everyday lives. Insist on a platform that offers a modern, intuitive, and user-friendly experience. It must also meet the expectations of the future. “Siri, show me my pay statement” is right around the digital corner.

It reduces human error 

Just two payroll errors can cause 49% of employees to quit their job. Payroll is essential and you can’t afford not to get it right. With a single, connected platform information is entered only once. Data flows from system to system reducing the chance for administrative error.

It’s cloud-based 

A cloud-based solution is accessible through the internet and requires virtually no maintenance. It’s less expensive too since it eliminates extra hardware purchases and the IT support to maintain it. Plus, all your information is accessible to you 24/7.

It provides actionable data 

For HCM to be a strategic function, you need accurate workforce insights that can help you improve organizational efficiencies and profitability. Your platform should provide you with reporting and analytical HCM tools that are easy to access and understand.

An intelligently connected HCM platform brings together every part of the employee experience, from hire to retire, to ensure there are no employee experience gaps for better recruiting, retaining, and revenue.

Counter Point HCM can meet—and exceed—the demands of today’s most discerning HR professional. Schedule a call today to explore what our HCM solutions can do for you!

Removing the Fear from HCM Software Implementation

Posted on by jess

We often hear “What we have is working fine. Besides, we don’t have the time or resources to switch providers right now.”

With all the technology and tools on the market today that can streamline your human capital management needs there is no reason to settle for fine. The benefits of these solutions—including an increase in accuracy and a decrease in redundancy—far outweigh the minor inconvenience of switching to new software.

To help ease our clients’ fear of conversion we are completely transparent in our process. We detail what they can expect and how long the process will take. We recognize that no two implementations are the same. Our Transition Team is trained to expect the unexpected and work to uncover all the important details necessary to make our client’s onboarding experience a positive and successful one.

Below is a step-by-step breakdown to help demystify the process.

Step I: Consent

Once the decision is made to engage Counter Point’s services, your HCM Consultant will provide you with a checklist of items, have you e-sign our terms & conditions, discuss timing, and ascertain key contacts within your organization. They will then introduce you to your Trainer.

Step II: Training

Your Trainer will set a timeline based on your specific needs. To keep track of pertinent deadlines and important dates we utilize project management software called Zoho Projects. This tool ensures no detail is overlooked.

At that time, your Trainer will provide you with credentials to access an online training hub that houses a host of tutorial videos and other resources for you to view. These will help you make the most of the live, remote training sessions that may follow.

Step III: Implementation of Time and Labor Management (TLM) and Payroll

To implement TLM, your Trainer will work with you to gather all necessary information including your specific PTO and overtime policies, rounding rules, lunch/meal break times, schedules, etc. These rules are then set up in the system and training of the TLM platform is scheduled. TLM will be set up well in advance to your first payroll processing.

For payroll, your Implementation Specialist will schedule time to extract data from your current system. An automated migration tool that requires no manual manipulation is used for this process. Your employee and company database will be built and configured to your company’s specifications using this data.

To ensure accuracy of your first payroll, your Implementation Specialist will run a parallel payroll before processing. All year-to-date and quarter-to-date earnings for each active and terminated employee will be entered to ensure that taxes, wages, and deductions are in perfect alignment.

Step IV: Implementation of HRIS and Other Platforms

For implementation of HRIS, just like with TLM, we will work with you to gather all pertinent HR information related to your current onboarding and performance review processes and policies, along with your desired employee self-service elections. Then, like TLM, you will be thoroughly trained on the platform to ensure your comfort.

If you plan to add other platforms within our comprehensive human capital management system, like Applicant Tracking, COBRA Services, Learning Management System (LMS), and Carrier Connections, that will follow next.

The Support Doesn’t End There

Implementation is just the beginning of your relationship with Counter Point. By the time your first payroll approaches, you will be assigned a dedicated Customer Service Representative. They will become very familiar with your organization’s unique needs and will assist with any concerns or questions you may have. Additionally, you will receive methodical follow-up from your Human Capital Management Consultant to ensure your needs are met in a timely and efficient manner.

Finally…

Your role is essential to a smooth transition. Merideth McGinley, Counter Point’s Implementation Manager, recommends the following advice:

Be proactive in providing information. By knowing exactly how your business operates, we can get you up and running quicker, and help you make the most of the software.

Embrace the change. While your team may experience some minor inconveniences now, keep sight of the big picture. Soon you will be reaping the rewards and experiencing greater productivity as a result.

Communicate with your workforce. Let them know about the change and how they may be affected. Be prepared to answer questions and manage expectations. We’re here to help if you need us.

To learn more about how Counter Point HCM can ensure you experience a smooth transition, request a call today!

How Self-Service Simplifies HR Processes 

Posted on by counterpoint1

In today’s fast-paced business environment, organizations are continually seeking ways to enhance efficiency and improve employee satisfaction. One significant advancement in this direction is the adoption of self-service in human capital management (HCM). 

Self-service tools empower employees by giving them direct access to HR-related information and tasks. In fact, according to a survey of over 1,100 full-time employees conducted by our technology partner, isolved, 71% said they want self-service capabilities for HR, benefits, and payroll tasks. 

Self-service also streamlines HR processes for the employer, making them more efficient and cost-effective. We explore the benefits of self-service for both the employer and the employee.

Enhanced Efficiency and Convenience

One of the most notable benefits of self-service in HCM is the empowerment it provides to employees. With self-service portals, employees can access their personal information, payroll details, benefits, and other HR-related data at any time. This immediate access to information eliminates the need for HR to answer repetitive questions from employees, saving time for everyone involved.

With self-service tools, employees can perform many tasks including updating their personal information; accessing paychecks online; viewing and printing federal and state withholding forms, as well as bank account information; managing benefits, completing online learning, requesting time off, and more. 

Improved Communication and Transparency

Self-service tools significantly improve communication and transparency within an organization. Receiving immediate responses from HR keeps employees informed and helps in build trust between them and the organization. 

The autonomy that self-service tools provide not only enhances the employee experience but also fosters a sense of ownership and responsibility. When employees can manage their own HR tasks, they feel more in control of their work-life balance and career progression, leading to higher job satisfaction and a more engaged and motivated workforce.

Streamlined Processes and Better Decision-Making

Thanks to automated workflows, self-service tools ensure that processes like payroll, leave management, and benefits administration are completed efficiently and with minimal human intervention. Real-time updates mean that any changes made by employees are immediately reflected in the system, ensuring that information is always up-to-date.

For employers, the data collected through self-service portals provides valuable insights for better decision-making. Analytics and reporting tools can help HR and management identify trends, address issues proactively, and make informed decisions about workforce management. Trend analysis and data-driven insights contribute to a more strategic approach to HR, aligning with the organization’s overall goals.

Boosted Data Accuracy and Security

Another crucial advantage of self-service in HCM is the improvement in data accuracy and security. When employees are responsible for entering and updating their information, the chances of errors decrease. Employees have a vested interest in ensuring their data is accurate, which leads to fewer discrepancies and more reliable HR records.

Self-service tools come with robust security measures to protect sensitive employee data. Advanced encryption and access controls ensure that personal information remains secure, providing peace of mind to both employees and employers.

Self-service provides many benefits that enhance both employee satisfaction and organizational efficiency. Request a call today to learn how it can benefit your organization.

The First Step in Evaluating HCM Solutions

Posted on by counterpoint1

Selecting a human capital management (HCM) solution to help manage the workforce needs of your organization is critical to your success. When evaluating the many options available, it’s likely you’re first drawn to the software and its features. And it’s easy to get caught up in the many tasks the software can help streamline, including:

Recruiting – Applicant tracking systems make it possible to post jobs, collect applications, communicate with candidates, and more.

Onboarding – Paperwork is eliminated and new hires are more productive from day one.

Performance Reviews – Managers are alerted and notifications are sent regarding the steps to take.

Reporting – Standard and ad hoc reports on any topic can be generated on demand.

Benefits Administration – All data is captured electronically eliminating the need for paper enrollment.

Tracking Time and Attendance – Collect, manage, and process time and attendance data with accuracy and ease.

All are compelling reasons, but none matter if the company that provides the service and support isn’t trustworthy, accountable, and experienced.

Assuming all software is equal, how do you decide?

The fact is, most cloud-based HCM systems are fundamentally the same. They can be accessed from anywhere at any time, require a single login, provide added security, eliminate the need for multiple systems, and help manage the employee lifecycle. You need to vet the providers to find the one that’s right for you.

What to Consider When Vetting HCM Providers

To find the one that best suits your organization, consider these four factors:

Security

Your employees’ sensitive data must be shared with your HCM vendor, including social security numbers, birth dates, and addresses. With the number of data breaches on the rise, make sure to evaluate the security measures they have in place. 

Ensure that the provider is up to date on security and data storage management. Look for those with a current SOC1 (SSAE 16/18) or SOC 2 audit report which demonstrates their commitment to security compliance.

Customer Service

When evaluating options, pay particular attention to the providers’ approach to customer service. When something goes wrong or you have questions, you will want to know who and how to obtain support quickly.

Questions to Ask

How do I seek help? Some providers have call-in centers while others offer a designated customer support representative, the gold standard in customer service. Each time you call you’ll get the same support person and you won’t waste time having to relay the same information to different people.

How do you manage requests? Providers that utilize help desk software like ZenDesk, Freshdesk, and Help Scout are better positioned to manage and resolve customer issues. These tools offer ticketing and multi-channel support, robust reporting, and analytics to aid in customer support.

What is the turnover like for your customer service representatives? Be wary of high turnover. Nothing beats a long-lasting relationship with the person assigned to help you.

Implementation and Training

Your provider should take you through a comprehensive demonstration of the software and offer periodic follow-up sessions to help bring you up to speed quickly. Ask what resources are available if you need help. On-site training? Tutorial videos? Online hubs? Webinars? All should be considered when choosing a provider.

Ask about their approach implementation. To ensure a smooth transition there should be a detailed plan in place and you should have access to a designated contact person during the process.

Culture

Last but not least, your vetting process should include a cultural fit assessment. You want to work with a company that is flexible and forward-thinking in terms of technology, security, and procedure. You should view your HCM provider as a partner, therefore you should choose one whose values align with those of your organization.

Is Counter Point HCM right for you? Schedule a call to find out.