HRO Today September 2016 - 67
Payroll
who owns the recruiting process for that function.
Additionally, headcount data, when combined with
business data -even something as simple as revenue
(i.e. revenue per full-time employee)-gives visibility into
how well the company is capitalizing on investment in its
people. The drilldown into certain groups or geographical
areas, especially when two groups do the same thing-
for example, two regions in a retail environment-allows
knowledge-sharing between managers to enable better
operational efficiency.
* Date of hire/termination. Payroll data includes hire and
termination dates. Obviously, this gives companies visibility
into length of service, but this data can also be valuable in
other ways. One of the measures of quality of hire is new
hire retention, and one of the more challenging areas for
recruiters is accountability for turnover. At its basic level,
HR seeks to understand turnover, whether it is a quality-ofhire
issue or a basic retention issue. To elaborate, there are
companies that use new-hire retention to determine who
to hold accountable for the quality of hire. One company
in particular, through collaboration between recruiting
and hiring managers, agreed that turnover occurring
in 60 days or less is a good indicator of quality of hire,
and in those situations, recruiting (or HR) shoulders the
blame. Turnover between 60 days and 120 days is a shared
responsibility between HR and the business, and any
turnover beyond 120 days is mainly the business. However
this metric is defined, early or new hire turnover can
provide great insights into whether recruitment is bringing
in good candidates or whether it is a larger issue that has
to do with development, compensation, benefits, or even
the business manager. Even basic turnover numbers can
be used to understand which managers are doing a good
job retaining, developing, and coaching their reports
for success, which can be used to glean and share best
practices with other managers. This, in turn, enables the
HR business partner to strengthen the relationship with
the business and ensure a successful partnership that is
built on data and insight.
* Change in job code. When it comes to development
and succession planning, one of the key metrics that
companies track is the percentage of positions filled by
internal candidates. The simple transaction of changing
a code to reflect a different pay group or salary grade
within a payroll system can inform the organization
about how well they are developing their employees.
Payroll data would show which groups or managers are
creating a developmental culture for their employees.
* Investment in employees. We always hear that HR needs
to get more strategic, and most of these conversations
revolve around HR needing to tie its efforts to the goals
of the company. For example, one company started out
on a journey to build a dashboard just from payroll data,
and after a few iterations and dozens of metrics later,
there was one dashboard that resonated with the CEO.
That dashboard represented the total costs of payroll
and benefits per full-time employee-both available in
the payroll application-and subtracting that total from
revenue per full-time employee. The dashboard was
built quarterly; basically, it showed every quarter the net
revenue per full-time employee after subtracting the total
spend per employee on wages and benefits. Later taxes
(the company portion) were added. The thinking was that
if these numbers go out quarter over quarter then the
company is doing the right thing and getting the most
out of its talent. And in order not to 'game' the metric,
another dashboard showing the vacancy rate was created.
This allows the company to understand the productivity
of its employees and uncover some of the symptoms if
this metric dips. Interestingly, when merit increases or
bonuses are factored in the first quarter, the number dips
from fourth quarter, but to show progress, the company
compares it to first quarter of the previous year.
* Reward statements. A cloud payroll system also includes
data on benefits costs, holiday time, and contributions
toward retirement accounts. Companies can use this
information to build comprehensive reward statements to
show employees the value the company is providing them
beyond their salaries. These statements can be valuable
retention tools because they show employees the total
value gained from their employment. Historical statement
can be designed to show employees that their contributions
were rewarded with raises, bonuses, and more.
Thanks to SaaS, the data now available to in the payroll
application is adding limitless insights to companies looking
to align workforce strategies to the goals of the business.
Furthermore, it is increasingly opening the doors not only
for HR and payroll to collaborate-often payroll reports
to finance, and even when it doesn't, silos tend to exist
between it and HR-but to also be better partners to
business leaders, especially when this data is combined with
operational and revenue metrics.
Aaron Hurst is vice president of global partnerships and solutions
for Ceridian. Jayson Saba is vice president of market research and
industry relations for the organization.
SEPTEMBER 2016 | www.hrotoday.com
[67]
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HRO Today September 2016
Table of Contents for the Digital Edition of HRO Today September 2016
HRO Today September 2016 - 1
HRO Today September 2016 - 2
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