A major employer featured in the news during the 12 months for exception growth is ‘Paycom Software’. The company is a payroll processor and provides services like HR applications, financial applications, and tax filing services. In fact the company was named in the Top 10 list of Fortune’s 100 fastest growing companies for the year 2017.
I believe that Paycom must have experienced human resource (HR) issues as fast paced growth throws HR challenges for a company that it had not experienced before when its growth was moderate and subdued compared to its present growth scenario. First of all Paycom must have faced the challenge of hiring the right people to help it achieve its growth objectives and help it sustain its current growth. When I say right people I mean people with the right qualifications, experience and skill sets. Secondly the company must have faced the challenge of retaining its core talent i.e. people who were with the company since its founding days and who have helped shape the company. Thirdly the company must have faced the challenge with regards to developing the best and most suitable HR systems and processes that will be aligned to the strategy of the organization.
To address these issues I would have informal HR practices within the organization. These informal HR practices would convey the message that the company will continue to care for the wellbeing of its employees and a positive working environment will be maintained, no matter what size the company grows to. This will help in providing a sense of purpose to the employees and will help in increasing and sustaining loyalty and commitment of employees. Secondly the recruitment process will be formalized and will be a sophisticated and a multi step process. Thirdly to be able to hire right talent the company will enter into co-operation agreement with educational institutions and will also look to hire talent from other countries. Lastly I would create coherent HR systems and processes so as to be able to create high performing management teams. The talent development process at Paycom will be aligned to the company’s vision and its growth strategy.
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