A key to business success in 2022 is attracting and retaining talent in history’s toughest and tightest labour market. Paycom Chad Richison, the CEO and founder of Paycom, one of the first companies to offer online payroll processing, spoke on CNBC’s Power Lunch on Feb. 9 about the importance of automation and the employee experience for businesses. A key challenge facing employers during the Great Resignation is managing their workforce’s evolving expectations.
According to him, a part of this depends on providing employees with greater, unconventional benefits that exceed what they have come to expect. Additionally, Paycom Chad Richison stated that businesses should implement technology that helps them recruit, train, and retain staff intuitively and efficiently without slowing down operations. A robust applicant tracking tool makes this effort possible even before a new hire is on the job by automatically posting positions to popular job boards and integrating correspondence with candidates into a single location.
Moreover, Richison found that involving employees in common HR processes – such as a payroll tool – helps create a sense of trust that strengthens employee retention. He said those aspects of your business need to be automated in a tight labour market. It is no longer about finding a job but about finding a career.
Richison explained that the right technology enables managers and their staff to communicate meaningfully and continuously and to set clear professional goals together. In addition, Richison explained that our Talent Management tool allows employers and employees to stay on the same page throughout their career path, allowing them to take it to the next level.
Employees don’t need to look outside their organizations for training when it’s backed by a comprehensive learning management system they can access anytime, anywhere. In an increasingly competitive labour market, Richison concluded that employers must adapt to meet the needs of top talent with HR technology that delivers a consumer-grade employee experience.