Managing Your ACA Strategy: Maintaining Compliance Through Automation and Integration
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Transcript of Managing Your ACA Strategy: Maintaining Compliance Through Automation and Integration
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Managing Your ACA Strategy: Maintaining Compliance Through
Automation and Integration
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Speaker: Michael Moon Research Director The Aberdeen Group
Managing Your ACA Strategy: Maintaining Compliance Through
Automation and Integration
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MANAGING YOUR ACA STRATEGY: MAINTAINING COMPLIANCE THROUGH AUTOMATION AND INTEGRATION April, 2015
Ms. Michael M. Moon, Research Director, HCM Aberdeen Group
Sponsored by:
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MICHAEL M. MOON
Research Director, HCM Aberdeen Group
Over 15 years experience in human resources as an analyst, practitioner and academic. Industry Experience:
• Senior HCM Research Analyst, i4cp • 15+ years in various HR roles at Thomson Reuters, Vistaprint, Raytheon,
Fleet Bank, John Hancock, and Getronics
Education and Certifications: • PhD Candidate, Human Capital Management, Bellevue University • Bachelor of Science, Theatre from Eckerd College • Master of Music, Musical Theatre from the Boston Conservatory • Master of Science, Human Resources from Suffolk University • PHR (HRCI) • Member of NEHRA and IHRIM
TODAY’S SPEAKER
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OBJECTIVES
You will learn how to: • Align your workforce management strategy with
your overall talent strategy • Adapt your workforce management strategy to
help you cope with this complex law • Understand the role technology plays to
properly manage compliance and facilitate greater efficiencies across the organization
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TODAY’S AGENDA: 1. Topic – Aberdeen Research Methodology
2. Topic - Human Capital Trends (2015)
3. Topic – Best-in-Class Workforce Management Strategies
4. Topic – ACA Compliance
5. Topic – ACA Staffing Strategies
6. Topic - Investments in Technology
7. Topic – Benefits of Automation
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ABERDEEN’S RESEARCH METHODOLOGY PACE: END-USER INVESTIGATION
PRESSURES ACTIONS CAPABILITIES ENABLERS
External and internal forces that impact an organization’s market
position, competitiveness, or
business operations.
The strategic approaches that an
organization takes in response to industry
pressures.
The business capabilities (organizational, process, knowledge management etc.) required to execute
corporate strategy.
The key technology solutions required to
support the organization’s business
practices.
What is causing organizations to think
differently?
What strategies are they using to respond
to pressures?
Why are they achieving greater success?
What technologies and services are enabling
them to succeed?
!
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ABERDEEN MATURITY CLASS FRAMEWORK DEFINING THE BEST-IN-CLASS
Selected Performance Criteria (KPI)*
Organizational Goals
Employee Performance
Bench Strength
Total Respondents
- Top 20%
- Middle 50%
- Bottom 30% Respondents are scored individually across KPI
Best-in-Class
Industry Average
Laggard
*example KPIs
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UNDERSTANDING WHAT IT TAKES TO ACHIEVE SUCCESS
What you need to do to become Best-in-Class: § What processes you should have
in place
§ What do you need to measure
§ Organizational changes you might want to make
§ Data / Knowledge management considerations
§ Technologies you should evaluate
Best-in-Class
Industry Average
Laggard
P A C
E
HUMAN CAPITAL TRENDS - 2015
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DEFINING BEST-IN-CLASS HCM DEFINITION MEAN CLASS PERFORMANCE
Best-in-Class: Top 20% of aggregate performance scorers
• 9.9% decrease in voluntary employee turnover
• 86.9% of employees rated as “highly” engaged
• 30.3% increase in customer satisfaction rates
Industry Average: Middle 50% of aggregate performance scorers
• .6% decrease in voluntary employee turnover
• 58.6% of employees rated as “highly” engaged
• 5.9% increase in customer satisfaction rates
Laggard: Bottom 30% of aggregate performance scorers
• 4.4% increase in voluntary employee turnover
• 30.4% of employees rated as “highly” engaged
• 2.0% decrease in customer satisfaction rates
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PRESSURES What are the top three PRESSURES driving your organization's HCM efforts in 2015?
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PRESSURES ARE A’ CHANGING
A scarcity of critical talent available in the marketplace
Controlling labor costs through better
workforce management
The cost and complexity of delivering effective learning and leadership development
The desire to provide better organizational
visibility into HCM data
1st
2nd
3rd
4th
1st
2nd
3rd
4th
62%
38%
47%
43%
37%
68%
57%
42%
2015 2014
n=246 Source: Aberdeen Group, March 2015
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STRATEGIC ACTIONS In order to execute on your organizational strategy in the coming year, what are the top three STRATEGIC ACTIONS pertaining to HCM that your organization is pursuing?
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STRATEGIC ACTIONS – TOP THREE 1. 64.3% - Ensure that human capital management talent
strategy is continually adapted to align with changing business
strategies
2. 46.7% - Place a greater focus on developing leadership skills
3. 46.2% - Identify gaps between current workforce skills
(supply) and anticipated future business requirements
(demand)
– 83% - critical for HR leader of the future
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BEST-IN-CLASS DIFFERENCE
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CAPABILITIES
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MOBILE ACCESS TO WFM
CORE HR/WFM STUDY – MAY 2014
25
CLEARLY DEFINED WFM POLICIES ARE KEY
Workforce capacity utilization
Payroll error rates
Unplanned/unbudgeted
overtime
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BEST-IN-CLASS CAPABILITIES
Processes/Procedures
• Scheduling policies are defined and communicated to
managers and employees
• Process in place to properly escalate HR inquiries
• Regular audits of HR data and processes
Access to data
• Managers have access to real-time reporting on time and
attendance data
• Workforce data required by the business is clearly
defined
Integration
• Core HR functions are integrated with talent
management systems (e.g., recruiting, onboarding, etc.)
• Time and attendance system is integrated with
scheduling system
Capabilities
ACA
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ACA – MAJOR IMPACT
52%...
…believe that US healthcare reform and the Affordable Care Act (ACA) will have a major impact on their organization's workforce management strategy in the coming year.
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CHALLENGES
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ACA PRESSURES: 2013-2015
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POLL QUESTION: Which most closely describes your current plan/strategy for dealing with the ACA? 1. Eliminate group benefits and push all employees to the
individual market via the public exchange
2. Continue with current staffing model and offer coverage to additional employees as required
3. Continue with current staffing model and pay the fees / penalties as required
4. Increase use of contingent / temporary staff to mitigate risk associated with costs of full-time employees
5. Move to an outsourced benefits administration model
6. Reduce overall number of employees but increase hours to get the most productivity out of covered individuals
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RESPONDING TO ACA: STAFFING STRATEGIES
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CONTINGENT LABOR FILLS GAPS
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CONTINGENT LABOR
36% of all respondents (n=146) plan to increase the size of your temporary workforce in the next 12-24 months.
58% believe utilizing a temporary/contract workforce is imperative to the successful operation of their organization
TECHNOLOGY
36
IMPACT ON INVESTMENTS IN WFM TECHNOLOGY
35%
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ACA AND TECHNOLOGY
44% - Move to an integrated workforce management suite 25% - Move to a cloud-based solution provider
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BENEFITS OF WORKFORCE MANAGEMENT AUTOMATION
• Reduce the time spent on workforce management by HR
• Improve the accuracy of employee data (e.g. reduction in payroll errors)
• Reduce the time spent on workforce management by the business
• Reduce labor costs (less administration and unplanned/unbudgeted OT)
• Reduced penalties and fees (from lack of compliance)
• Better workforce visibility
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IMPACT OF AUTOMATED TIME AND ATTENDANCE*
*Core HR/WFM study - 2014
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REDUCED LABOR COSTS*
*Core HR/WFM study - 2014
THANK YOU
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please join our community by visiting:
www.aberdeen.com
42
ABOUT KRONOS
With tens of thousands of customers around the globe, Kronos is the leader in workforce management solutions. We deliver industry-focused
time and attendance, scheduling, absence management, HR and payroll, hiring, and labor analytics solutions and services — in our cloud
and on the go. Kronos: Workforce Innovation That Works™.
For more information contact your Kronos representative, call (800) 225-1561 or visit
www.kronos.com.
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