Payroll is a key driver of your business, so it’s important to get it right. Organizations with proper payroll processes in place are free to thrive, while companies with flawed payroll systems can be susceptible to significant legal risks, fines, and employee relations issues.
However, payroll and regulations are extremely complex. With payroll rules and regulations constantly changing, it’s almost impossible for the average business to keep up.
There are upwards of 10,000 federal, state, and local tax regulations that affect the way employers process payroll. And failing to follow these properly can result in large fines from the IRS. According to the IRS, more than 1.8 million tax returns were audited in 2016 for businesses with income between $200,000 and $1 million. In 2016, 978,564 businesses of all sizes were assessed civil penalties.
Growing businesses want to avoid these potential risks but find it nearly impossible to keep up with the wide range of laws pertaining to employment. This is why more and more businesses are turning to outsourced payroll companies to bridge this gap in expertise. Recent research by Robert Half indicates that 39% of U.S. companies outsource payroll services.
Outsourcing Payroll: Three Reasons Why Businesses Should
Save time (time that can then be used to focus on growing your business)
Gain access to the technology and expertise to perform payroll (management services) well
Reduce costs and risks associated with failing to follow tax and employment regulations
Ultimately, as your business evolves and grows, your team will become larger and your payroll (management processes) will become increasingly complex. As an employer, you’re expected to understand all hour, wage, and employment laws. Mistakes in these key areas can lead to audits and penalties, something a growing business simply doesn’t need.
For many growing businesses, outsourcing payroll prevents a good opportunity to streamline operations and reduce risk. However, each company must decide if (the benefits of outsourcing payroll) is right for them. We put together this ultimate guide to help you explore the pros and cons of outsourcing payroll, so you can make an informed decision about how to handle your business’s payroll.
This Outsourcing Payroll Guide Will Teach You:
Advantages of outsourcing payroll
Disadvantages of outsourcing payroll
What to look for in payroll outsourcing companies
Why leverage a payroll provider’s HRIS
Questions to ask a potential payroll outsourcing provider
Benefits of Outsourcing Payroll
Payroll is a time-consuming process. From keeping track of benefits deductions, wage garnishments, new hires, terminations, PTO, and state and federal regulations can be challenging. Outsourcing payroll allows you and your team to focus on core business functions that drive revenue and help you grow.
Penalties for errors, omissions, or late payroll tax filings can be very costly. The IRS estimates that 40% of small businesses pay annual penalties for incorrect filings. Beyond tax risks, your organization must also comply with all state and federal wage and employment laws. Failure to comply with these laws can lead to audits and fines. However, working with a payroll outsourcing provider can ensure that your business has all compliance bases covered. This will give you the peace of mind knowing your business won’t be susceptible to these risks and fines.
Access to Experts
As your business continues to grow, you’ll have to comply with more and more state and federal regulations. Have a team of HR and compliance experts by your side to help you navigate these complex changes can be invaluable for your organization.
Payroll outsourcing services use secure online portals to store and protect your employees’ sensitive information.
Reduced Payroll Costs
For many small-to-mid-sized businesses, completing payroll in-house can be a money burner. Of course, actual cost is company-specific, but you can calculate how much time your team currently spends calculating payroll, preparing w-2’s, onboarding new-hires, producing reports for accounting, etc. Paying a salaried team member (or doing it yourself) can end up costing your organization a lot more than working with a payroll outsourcing company. For most growing businesses, working with a payroll outsourcing provider is a cost-effective option.
Disadvantages of Outsourcing Payroll
While outsourcing payroll to payroll experts affords your organization many benefits, there can be some negative effects of outsourcing.
Difficulty Obtaining Employee Data
For your payroll provider to process employees, they’ll need W-4s and direct deposit information. Tracking down and collecting physical documentation of these assets can be challenging. However, some payroll providers operate entirely digitally. If your payroll outsourcing provider offers a system where employees can upload their own information, this can eliminate these challenges.
When working with an outsourced payroll provider it can sometimes take longer to fix payroll errors. However, if your provider leverages proactive communication which includes a review and editing processes then this can help significantly reduce the number of potential errors.
Outsourcing Payroll Cost
There will be an added cost to your business for outsourcing payroll. To determine if outsourced payroll is a cost-effective solution for your business, you should aim to quantify the current costs associated with your payroll practices. In most cases, outsourced payroll ultimately ends up being cheaper than an in-house team member handling it.
What to Look For In a Payroll Outsourcing Company:
Experience Serving Businesses Like Yours
Research if the payroll provider has worked with organizations of an industry or size like yours. Explore their website for customer stories and ask for case studies about the value they’ve provided clients. Does the payroll provider have a strong track record of serving businesses your size? Is the provider experienced in your industry?
Additional Resources & Complimentary Adds-on
Some payroll providers go above and beyond to extend additional value to their clients. These add-ons might include guidance on HR best-practices, access to employee handbook and policy templates, or support for safety compliance.
Other Service Offerings
When looking at a payroll outsourcing provider, consider the other products and services they offer and how those align with your future plans. As you grow, you’ll require additional support in scaling your human resource practices. Does your payroll provider offer additional services such as human resources consulting, technology, employee benefits, or worker’s compensation coverage?
Regulatory Compliance Capabilities
Is the potential payroll outsourcing provider up-to-date on changing laws, compliance regulations, health care considerations, and tax rules? Are they a thought-leader in the space? You should aim to establish a clear track record of your payroll provider helping their customers meet federal and state compliance regulations.
You should evaluate and determine the quality of payroll technology your potential provider leverages. Consider if they use modern technology and have the technology infrastructure to support your organization as you grow.
Accountant Interfaces & Integrations
Consider how easily your team can retrieve necessary payroll records for tax and reconciliation purposes.
You should aim to understand the level of service your payroll outsourcing provider provides. Will you have a dedicated account manager you can call anytime with questions? Or will you be left with an automated inbox or queue without answers? Payroll is a complex, essential component of your business. Having a high level of service is important.
When it comes to finding a (third party) payroll provider, stability is essential. You should determine how many years a potential provider has been in business. Also, consider how many clients they have and the caliber of their client portfolio.
Ultimately, your goal is to grow your company. Therefore, you shouldn’t pick a payroll outsourcing provider whose infrastructure cannot support your growth. Instead, you should select a provider that offers robust solutions that can integrate time and attendance, retirement plans, and benefits administration as you grow.
Scope of Services
Your payroll (outsourcing) provider should provide the highest level of service, freeing up your time to focus on other more important tasks. Some payroll (outsourcing companies) expect the client to onboard new-hires, track time and attendance, and handle other administrative tasks. In an ideal scenario, your payroll outsourcing provider should be taking on your entire payroll process, end-to-end.
Implementation & Onboarding
Uncover the process the potential payroll provider will use to get your organization onto their system. They should provide a quick, seamless transition to avoid interruptions to your employees.
Partners & Integration
You should ensure that your payroll provider’s systems will seamlessly integrate into your team’s existing workflows.
The Importance of HRIS
An additional value-add of working with an outsourced payroll provider is gaining access to their Human Resource Information System (HRIS). An HRIS system allows employers to easily provide their employees access to online statements and direct deposit. In today’s market, many job seekers expect an employer to provide these. An HRIS system can provide your employees several benefits including:
Online benefits enrollment
Review benefits information
Access corporate documents
Beyond the benefits it affords your employees, HRIS helps create a centralized hub for all your team’s sensitive information. This means better organization and better security for your business. Some additional benefits employers can get from a HIRS include:
View invoices and payroll reports
View and update employee information
Digitally onboard new hires
Collect time-off information
Offer online benefits enrollment
Total compensation reports
Upload an employee handbook and other files
While you may not have the resources or manpower to administrate your own HRIS, leveraging a payroll partner’s system is a great option.
What to Look For in A Payroll Outsourcing Company
Questions to ask a payroll (outsourcing) provider you’re considering:
How long have you been in business?
How do I know you are paying all payroll taxes?
How much of the responsibility of payroll processing do you handle?
How secure is the information?
Can I call and talk to a real person without going into a queue for several minutes?
If there are corrections on the payroll, how long will it take to make the correction?
What technology platform do you use and how reliable is it?
What are your fees for processing payroll?
Payroll is a complex, constantly changing function that many small teams struggle to manage. If your organization is spending too many resources managing your payroll in-house, outsourcing payroll can be a great option. In today’s guide, we covered the pros and cons of outsourcing payroll, how to leverage HRIS technology, and how to vet a potential payroll partner. Some key takeaways are:
Outsourcing payroll affords many benefits including saved time, reduced risk, and cost-savings
Working with a payroll provider can help you leverage modern HRIS software
When considering a payroll outsourcing provider, there are several factors to look out for including service level, technology, proven track record, and more
Enter Your Information to Read The Rest of This Guide!
Do you want to learn the disadvantages of outsourcing payroll AND get a complete checklist of everything you need to look for in a good payroll provider? Enter your information to unlock the rest of the guide.
The way that a CEO spends her time makes a huge difference in what gets done in a company. Few CEO’s get the chance to see into how other CEO’s are spending their time, they don’t have the chance to compare their decisions to those of others. So when I saw that Michael Porter published an extensive study called The Leader’s Calendar in the Harvard Business Review, I dug in.
1. They don’t get much “me” time.
The average CEO in Porter’s study slept just under 7 hours a night and worked out about 45 minutes a day on average. The most disciplined of them had about 3 hours a day of family time, but they were diligent about protecting it!
Running a business whether you are a small business owner, or a corporate CEO is all consuming. For your well-being, health and longevity you need to be diligent about treating your body well, getting good sleep and spending time on activities that nourish you.
2. They don’t hide in their office, work from home, or depend on email to get things done.
The best CEOs spend the majority of their time (61% in Porter’s study) face-to-face with their team, their clients and their partners. In order to do that they need to be very disciplined about the time they spend on email! Leaders naturally get copied on a lot of stuff that they don’t need to answer or take action on. Separating out what needs their attention (a small fraction) from that which can be ignored, archived or deleted is a major skill that CEOs need to develop.
Porter reminds us that nothing substitutes for face-to-face interaction.
3. They don’t let their agenda get set by others.
One of my best bosses used to tell me, “If you go to a meeting with Bill Gates, who’s meeting is it? It doesn’t matter who set the meeting, if Gates is in it, it’s his meeting!” He told me this story to remind me that, as a leader, we set the agenda. In Porter’s study, just shy of 50% of the CEOs time was devoted to driving forward the goals or objectives they had set for the quarter or year. They know what they want to accomplish and make sure that everyone else does too.
Porter calls out as a best practice CEOs who look back every quarter at where their time went the previous quarter so that they can eliminate those things that took them away from advancing their agenda.
4. They don’t ignore the fires.
About a third of the CEOs time was spent “dealing with unfolding developments”. There’s always something that comes up, employees that quit, customers who are disgruntled, competitors who introduce something new… Those things need to be dealt with in a timely way — but without getting distracted from their goals and agenda.
5. They don’t get distracted by the routine or ceremonial duties of the office.
A little over a half a day a week got eaten up by routine duties, or events where the CEOs presence added gravitas but didn’t advance any agenda. The best CEOs worked to minimize the time spent on these activities, substituting someone else, or eliminating the need for it altogether.
6. They don’t forget their team.
One of the most important levers for these top CEOs were their direct reports and their direct reports. The best CEOs know that nurturing and developing their team is a prime responsibility for them and allocate their time accordingly (about one-third of their time was devoted here). By staying in contact with this group they were able to develop an “early warning system” to see problems before they grew too large. It also helped to burst the bubble that sometimes surrounds the leader where all the information they get is highly filtered. Finally, it keeps them tuned in to the talent pipeline so that they can nurture the next generation of leaders.
7. They don’t skip meetings.
Meetings are highly leveraged activities for CEOs. They can see a lot of people face-to-face, they can advance their agenda, they can hear information straight from the front lines. When you are the CEO, going to meetings is your job.
I don’t think there are any of us who love meetings, but getting good at running an effective, time-efficient meeting is a core skill for a CEO.
8. They don’t skimp on alone time.
Once a CEO has been with their team and has soaked up information, they need time to think. Most CEOs do that best alone. The best CEOs spent about 25% of their time alone, yet it was often in small segments of less than an hour. Blocking off time for thinking was critical to the success of the highest performing CEOs.
Key takeaways There is one resource that we all have in equal measure, time. If you are going to be a great leader you need to be proactive in determining how best to use that time. Working through your team by seeing them in meetings and one-to-one, gathering your own information and spending some quiet time to think it all through will make you more able to advance your agenda and succeed as a leader. If you don’t you may experience business owner burnout.
About the Author Brad Farris is Principal Advisor at Anchor Advisors, Ltd. Anchor Advisors helps small business owners to make the transition from the center of all things in their business to a leader with experts who report to them. To find out more visit anchoradvisors.com
Whether you know exactly what kind of culture you want your
company to embody or you haven’t given it much thought before, now is the time
to put your company culture under the microscope. Every company can benefit
from being more intentional about its culture and from examining new ways to
integrate its culture into every part of the organization.
In today’s post we’ll explore five key components of an
intentional, positive company culture:
Creating an intentional culture: define & redefine your company culture
Fostering joint ownership: get company mission/vision buy-in from employees
Leveraging people power: put the right people in the right seats
Creating meaningful work for employees: put culture first to drive performance and retention
Aligning employee benefits with your culture: develop a strategic approach to your employee benefits program
Creating an intentional culture: define & redefine your company culture
Every company has a culture, whether they know it or not.
Culture is defined by how a company operates, how it treats its employees and
how its employees treat the company in return. When culture aligns with the
company’s mission and vision, the result is increased employee performance and
retention, innovative solutions, and higher profit margins. More work gets
done, and everyone from the receptionist through the CEO enjoys their work
But company culture needs to be tended to and directed
continuously. It is not enough to hold meetings to decide what your culture
will be, or even to implement policies to enforce the culture, and then forget
culture altogether. Remember, company culture is a living, evolving thing which
will develop over time. If you do not direct its course then it may well
stray from your original vision, affecting every part of your company. If you
neglect company culture, it can become toxic, encouraging harassment and
infighting, stifling collaboration and causing high turnover rates.
That’s why it’s so important to intentionally shape your
company culture and ingrain it into every process and policy throughout the
company. Here are some actionable ways you can do this:
First you need to determine what kind of culture you want your company to embody, based largely on your mission/vision.
Next you should examine each process, policy, and promotion and make sure they align with that culture.
Finally, you should regularly review whether your current goals, methods, and employees reflect your culture and make sure that you are on the right track.
Fostering joint ownership:
get company mission/vision buy-in from employees
The hard truth is that your company’s mission and vision are
meaningless without employee buy-in. Luckily, there is an easy way to get
employee buy-in: put your mission and vision back into the heart of everything
that you do. And, more importantly, give employees ownership over your mission
and vision. Seek feedback at every level and empower team members to define how
their work contributes to the mission/vision. Provide opportunities for
employees to take on new projects that they see as working towards the mission
and vision and put the mission/vision at the heart of review and meeting
Another important component of employee buy-in is
transparency. Keep your employees up to date on company goals, how those goals
contribute to the mission, and how their work ties into those goals. That way
new product launches, sales targets, and marketing campaigns will start being
part of a bigger picture rather than the means to raise profits. And if you
hold everyone in the organization, including managers and c-suite executives,
accountable to the mission/vision then you will foster an even deeper culture
of shared values and efforts towards a common goal.
Leveraging people power:
put the right people in the right seats
Culture is not just the result of policies and practices: it
is also defined by people. Who you hire and who you put in positions of power
says a lot about what you stand for as a company. Also, your managers will be
the standard bearers for your culture and how it defines their team’s
Make sure that your advancement policies match the culture
that you are trying to promote. If you encourage your employees to take
ownership over the company mission/vision and culture, but do not provide
opportunities for upward mobility, then your message will come across as hollow
and disingenuous. But if you reward hard work and cultural buy-in with genuine
advancement opportunities, then you will be a lot closer to having an authentic
and organic company culture.
It is also important to be strategic in who you hire or promote.
How you treat all your employees is crucial to your culture. Keep in mind that
when you bring someone on or promote them, you send a clear message to the rest
of the organization that they represent what you value.
This means that you should make sure that your practices
make everyone in your company feel valued and that you should hire and promote
people who reflect the culture that you are trying to create. It is also
important to promote people who buy into the company culture because your
managers are your front line in creating and maintaining an intentional culture
that permeates everything that your company does.
Creating meaningful work
for employees: put culture first to drive performance and retention
Providing meaningful work is perhaps the greatest challenge
facing modern employers. Millennial workers in particular prioritize meaningful
work over pay. They aren’t staying at their jobs for nearly as long as
employees used to. Instead they are always looking for the next, most exciting
opportunity. If all your company is offering them is a paycheck, your employees
won’t be motivated to excel and you can’t expect to keep talent around for
The good news is that putting your culture, mission, and
vision at the heart your company will do wonders for your employee performance
and retention because it will make the work meaningful. Research by Deloitte
found that 73% of employees that believe that they work at a purpose driven
organization are engaged with their work, versus 23% who do not. Employees can
see how their work contributes to the goals of the company and can take
ownership over the success of a shared venture, with a common culture. Managers
will not have to assert that their team’s work is important, it will be clear
Aligning employee benefits with your culture: develop a strategic approach to your employee benefits program
How you treat your employees says a lot about your company
and is a major component of company culture. One of the most direct ways that
you can align your employee policies with the culture that you want to create
is through your benefits package.
Benefits are an opportunity to show your employees that they
are more than a cog in a corporate machine and will help them buy into your
culture, mission, and vision. Vacation time, in-office perks, parental leave,
and insurance are all ways to give back to employees and make them feel like a
valued part of a community with a shared culture and mutual goals. But, more of
everything is not necessarily the right answer. Instead, the benefits package
should be strategically tailored to your particular company culture. Think
about what values are at the heart of your intentional culture and choose the
benefits that match it.
Take, for example, stereotypical silicon valley tech
companies have a culture in which work is life, but is also supposed to be fun.
They provide all of the amenities employees might need, from meals and showers
to pool tables and beer on tap. By and large they successfully foster a culture
in which their employees lives truly do revolve around the office; never just working
but never entirely off the clock, either. That approach works because it is in
line with the culture that the companies espouse through every level of their
organizations, but it does not work with every culture. For example, if your
company is all about hard work but respect for employee time, then maybe skip
the ping pong table and opt for a flexible vacation policy.
In today’s post we examined many components of creating a
healthy company culture. Some key takeaways include:
Bring intentionality to your company culture. Clearly define the culture you want to create and examine how that culture can be integrated into every part of the company.
Make sure to get employee buy-in to the company mission/vision by giving them joint ownership of them. When employees define the reality and success of the mission and vision, they become invested in the company’s well-being and the continuation of its culture.
Who you hire and promote defines what you value and who will be in charge of maintaining your culture.
A vibrant, transparent culture creates meaningful work for all of your employees, driving performance and retention.
Shape your benefits package to reflect your company culture. Choose the benefits that reflect your values and demonstrate to employees how much you value them.
By now it should be clear why developing an intentional culture is so important and what areas of your company you need to focus on to accomplish it. But creating a great culture is a massive task, where do you even get started? Well, luckily a fantastic group of panelists will help you chart your course to a positive company culture in our upcoming webinar.
CHICAGO, IL (October 25, 2018) Launchways, a leading provider of human resources, employee benefits, and business insurance solutions for growing businesses, today announced it has added Artisan Talent as a client.
Artisan Talent has selected Launchways as their employee benefits broker, benefits administration solution, and ongoing compliance support partner. When asked why Artisan Talent chose to work with Launchways Bejan Douraghy, Artisan Talent CEO, said “We chose to work with Launchways because they presented a comprehensive solution to the compliance and benefits challenges we were facing. Now we can focus our time and attention on growing our business knowing Launchways has the people side of things covered.”
Gary Schafer, Launchways President, noted “Artisan Talent is a fast-growing organization which values relationships and understands how important getting the people part of their business right is. They’re the exact type of business we’re excited to work with to improve their processes around employee benefits and human resources compliance.”
The Launchways team will conduct an analysis of Artisan Talent’s workforce needs, then build a strategic benefits plan designed to meet those needs. Additionally, the Launchways team will administer Artisan Talent’s benefits program, conducting open enrollments and providing ongoing support for employee benefits inquires. Additionally, Launchways compliance experts will conduct a comprehensive compliance audit and ensure all necessary human resources processes are in place.
Launchways provides business leaders with the resources and guidance they need to build scalable people processes to support long-term growth. Founded in 2009, Launchways has helped thousands of businesses better approach the people side of their business through strategic solutions for human resources, employee benefits, and business insurance. For more information, please visit www.launchways.com.
About Artisan Talent
We are a unique digital, creative, and marketing staffing agency. Artisan has a “boutique” approach to both our talent and clients where we advocate for the best talent and we nurture relationships with the best clients, from small agencies to major corporations. We have offices across the country and place talent nationwide. Our specialty is the match, and our relationships are paramount. To learn more visit their website: www.artisantalent.com.
Launchways today announced a partnership with LifeCare to offer clients employee discounts through LifeMart. LifeMart is the premier employee discount platform, offering thousands of discounts on child care, care rentals, hotels, computers, cell phones, event tickets, gyms, and more.
Launchways will offer the LifeMart program to its employee benefits clients as an additional perk of being part of the Launchways benefits brokerage. “We are so excited to be offering this additional value add to our benefits clients via the LifeMart employee discount platform. We hope LifeMart discounts will allow our clients to provide their employees immense value” said Launchways President, Gary Schafer.
LifeMart helps employers:
• Offer a free high value benefit to employees
• Save administrators time by managing the discount program
• Take all the credit for helping their employees save time and money
Launchways CEO, James Taylor, noted “Innovation is what we do here at Launchways, so we’re always looking for new ways to help our clients provide more value in their employee benefits programs. We believe LifeMart is the perfect addition to our suite of benefits solutions.”
Launchways provides business leaders with the resources and guidance they need to build scalable people processes to support long-term growth. Founded in 2009, Launchways has helped thousands of companies better approach the people side of their business through strategic solutions for human resources, employee benefits, and business insurance. For more information, please visit www.launchways.com.
LifeCare provides employer-sponsored work-life benefits to 61,000 clients, including Fortune 500 companies and large branches of the federal government, representing 100 million members nationwide. In addition to MilkShip, LifeCare also provides a full suite of work-life solutions that save members time with personal life needs such as Backup Care Connection, Senior Care Management, Homework Connection, BenConnect, and Mothers@Work. LifeCare also operates LifeMart, an online discount shopping website that provides real savings on everyday products and needs. LifeCare is headquartered in Shelton, CT.
Local fast-growing business Mediafly was recently ranked the 7th Best Place to Work in Chicago by Crain’s Chicago Business. The Launchways team sat down with Mediafly’s Founder and CEO, Carson Conant, to learn more about the strategies he’s used to build an exceptional company culture at Mediafly. Checkout the interview below.
Your core values are Caring, Fun, Intelligent, Resilient, and Fearless. Can you tell me about some of the ways these values are represented in Mediafly’s company culture?
Carson: When I first founded Mediafly the most important trait I looked for in employees was those who defend their ideas rather than their ego. We sought to only hire those who were extremely opinionated but were also willing to back down if their opinion was wrong. To this day, we continue to hire only people who are not afraid to voice their perspective, but also respect when they’re wrong.
Internally, we have a work hard play hard mentality. This is driven by our commitment to team-building and making Mediafly a fun place to work. We constantly strive to find ways to keep the entire team connected even as the company grows. My ultimate goal is to make sure that no matter how big Mediafly gets, we all know each other as people and not just as colleagues. Through activities like paintball, baseball games, and our annual “Cinco de Mediafly,” we connect our team and make Mediafly a truly great place to work.
We encourage our employees to share their hobbies and personal passions with the rest of the team. For example, some of our team members have taught yoga, dance workshops, and a flower arranging class. We’re always finding fun ways to connect our team so that when times are tough and stressful, we know we can rely on each other.
Our “Mediafly Cares” philanthropy program is a great example of how our team embodies our “caring” core value. Throughout the year some of our team members spearhead several local volunteer initiatives. Currently, the Mediafly Cares program is participating in Operation Gratitude. As part of Operation Gratitude, our team gathers together and writes letters to overseas troops. We even send kits to our remote employees so they can write a letter and send a care package too. Whenever possible we strive to incorporate our remote team into our group activities.
I think it’s important to recognize that for the first half of Mediafly’s life, our entire team was in the office. Now a sizeable chunk of our team works entirely remotely. And we believe within 18 months a majority of our team members will be remote. This is why we make a special effort to incorporate our remote employees into our activities. For example, if we’re ordering Lou Malnati’s for the office we might send Lou’s to our remote team member’s homes. We are heavily invested in maintaining our strong company culture throughout the remote team.
Mediafly has grown rapidly over the last few years, what strategies do you use to keep your company culture strong as the organization scales?
Carson: My original co-founder taught me something that’s really stuck with me. It’s better to not hire somebody than to hire the wrong person. We adopted the Netflix mentality of only hiring “stunning colleagues.” One of the key factors that drives our strong culture is a very slow, deliberate hiring process. In fact, we’ve lost candidates because our hiring timeline is so slow. The reason the process is so tedious is because we need time to identify if a potential candidate is stunning. For us, the personality and cultural fit of our hires is key.
For the most, we hire only senior people. We rarely hire junior employees and train them. By hiring mostly senior employees, you reduce the need for layers of management. Here we have a different perspective on management. We don’t see managers as someone managing our team’s day-to-day, we see them as providing the support and resources they need to succeed.
At Mediafly we have extremely low regrettable turnover. This is because of our in-depth hiring process and that fact that we’re not afraid to fire fast. When it comes to hiring, if any of our team members has any reservations about a candidate then we don’t move forward with that person.
We understand that culture is very deliberate. Culture is either something you design or something that happens to you. We’ve been very deliberate in our decision to actively shape and drive our company culture. For us, the way we hire has allowed us to maintain our strong culture as we’ve grown.
What are some unique employee benefits you offer that you believe makes Mediafly a great place to work?
Carson: We have an underlying philosophy as it relates to our employee benefits and perks. We understand that an employee’s personal life can weigh heavily on their work. In order for our employees to be the most successful, we try to do as much as we possibly can to ease the barriers and frustration that people experience in their daily life. Some of the ways we do this include:
The foundation of our benefits is aggressively generous health, dental, and vision plans.
We also offer a strong 401k matching program.
Many of our team members commute to work, so we added commuter benefits.
We offer entirely remote-working positions. Since we have so many employees working remotely, we’ve begun offering our remote workers ergonomically sound desk set-ups.
We strive to be very generous with time-off, remote working, and overall flexible work arrangements.
We recently added a tuition reimbursement program.
We have a dedicated philanthropy program called “Mediafly Cares” that allows our team to get involved in and make a positive impact on the Chicago community.
Throughout the year we offer several team-building activities like baseball games, holiday parties, Whirly Ball, and more.
No matter what initiatives we offer, we always strive to add new benefits every year. We’re always layering on more value-adds for our employees. For example, we’re currently testing sabbaticals for long-term employees with a few key team members. After that experiment, we plan to offer this benefit to the entire team.
Ultimately, we’re committed to a strong work-life balance. We want to do as much as we can to make our employees daily lives easier.
When it comes to hiring, what are some of the ways Mediafly determines cultural fit with candidates?
Carson: For us, hiring is a low, intensive process. Throughout the hiring process potential candidates go through several stages and meet many of the people on our team. Because our hiring process is so long and intensive, many candidates will weed themselves out if they’re not a good fit for us.
For us, it’s important that enough of our team meets a candidate so we can determine their cultural fit. We use references, recommendations and hiring projects to help distinguish stunning talent. The culture fit often comes down to the collective gut instincts of our Flyers and how they feel about the candidate. If anyone feels it’s not a great fit, we don’t move forward. If everyone thinks they’re great, we move forward.
We adopt a “plant the fungus” mentality when hiring. We’re constantly watering and trying to grow potential opportunities with candidates. We are always hiring, even if we don’t have budget. We put a lot of energy into candidates we believe are the right cultural fit for us. We ensure that when the right person comes around, we’re ready to move forward with them.
How does Mediafly build and maintain a strong employer brand online?
Carson: We see ourselves as a Midwest-humble type of company so we’re not too big on patting ourselves on the back and talking about how great we are online. Instead, we focus on highlighting our accomplishments. For example, when we’re mentioned in an Inc article or when we won Crain’s Best Places to Work, we highlight this online.
Over time, we’re getting better at promoting our employer brand online. We like to highlight things we’re very proud of that make Mediafly truly unique. For example, we recently published a blog post that highlights why women enjoy working for Mediafly.
For us, word of mouth always has been the best way to attract talent. Most of our hires come from some type of referral or word of mouth.
Mediafly’s Carson Conant shared with us several of the ways Mediafly builds and maintains a great company culture. Here are some actionable key takeaways you can walk away from today’s post with:
Company cultural is either intentionally built or unintentionally formed over time. Be proactive about shaping your company’s culture early-on.
Be sure to include ways for your team members to have fun together so they can stay connected and better navigate stressful periods together.
Incorporate philanthropic events or volunteer opportunities into your company culture.
If you have remote employees, try to incorporate them into your team’s activities and daily rituals. Remote working is becoming increasingly common. Companies that address how to keep their culture strong for remote workers will be ahead of the curve.
Adopting Netflix’s “stunning colleague” mentality can help you avoid poor-fit hires.
A slow, deliberate hiring process can be indispensable in making sure you hire the right candidates.
Leverage employee perks and benefits to make your employees’ lives easier and jobs more enjoyable. When it comes to adding new benefits, listen to what your workforce wants and respond accordingly.
Use your online employer brand to showcase accomplishments and highlight the reasons that your company is a unique place to work.
Mediafly is a mobile sales enablement solution that enhances how brands engage prospective buyers. By using Mediafly’s technology, marketing and sales teams at companies including PepsiCo, Disney, GE Healthcare, MillerCoors and Charles Schwab, are able to deliver custom, dynamic sales presentations quickly and efficiently, engaging customers with insights that are relevant to them. Mediafly’s Evolved Selling™ solution enables sellers to be more flexible, insightful and interactive in their sales interactions, resulting in increased sales and stronger customer relationships. Mediafly has been named to the Inc. 5000 list of fastest growing companies for four years consecutively in addition to being named Inc.’s Best Places to Work of 2017. Visit Mediafly.com or follow @Mediafly for more information.