Paycom's Time-Off Requests feature GONE®, which received the 2024 Top HR Products award from Human Resource Executive magazine, is the industry's first fully automated time-off solution that decides all time-off requests. Before GONE, time-off decisions were undermanaged. The tool expedites time-off decision periods, frees managers from decision-fatigue-inducing reviews, and uses company policies and coverage needs to reduce bias. Employees benefit from transparent, consistent, and instantaneous time-off decisioning that also carefully considers the current staffing requirements of the business, ensuring smooth operations and satisfied customers.
According to a press release, Paycom commissioned Forrester Consulting to conduct a Total Economic Impact™ study to examine the potential return on investment enterprises may realize by deploying their Time-Off Requests tool featuring GONE and evaluate the potential financial impact of GONE on their organizations.
To better understand the benefits, costs and risks associated with this investment, Forrester interviewed Paycom clients with experience using GONE. For the purposes of this study, Forrester aggregated the interviewees' experiences and combined the results into a single, industry-agonistic composite organization, with key findings from the composite organization, which is a regional industry-agnostic organization with 400 total employees, 30 of whom are managers and revenues of about $300 million annually.
The study revealed three key quantified projected benefits. The three-year, risk-adjusted present value (PV) quantified benefits for the composite organization include:
- Individual manager time savings of nearly one workweek (40 hours) of unproductive hours annually.
- Paycom's Time-Off Requests featuring GONE eliminates the need for manual work related to the request and approval process on the part of the manager.
- HR, finance, and administrative staff savings of nearly five work weeks' time annually. The composite organization's HR, finance, and administrative personnel downstream in the time-off request workflow benefit from instant decisioning through GONE.
- Up to six workweeks of avoided overtime hours annually from more consistent staffing. By automating the time-off request and approval process with GONE, errors related to manual work and legacy processes are eased for the composite organization.
"Without GONE, 10% of an organization's labor costs go substantially unmanaged, resulting in increased costs from overpayments, scheduling errors, staffing shortages, and operational disruption," said Chad Richison, Paycom founder, CEO, and chairman in the press release.
Some projected unquantifiable benefits that provide value for the composite organization but are not quantified for this study include:
- Improved employee experience. GONE greatly improves the employee experience by establishing consistent and transparent parameters for time-off requests, meaning staff no longer wait several days for decisions, while disputes between managers and employees related to favoritism in approvals are avoided.
- Configurable time-off decisioning rules to suit current business requirements. The composite organization can continually iterate on existing and add new decisioning rules to GONE to align with the current and future staffing needs of their respective businesses.
- Removed burden on managers to scrutinize and uphold company time-off policies. GONE automates most time-off decisions, reducing the need for managers to spend additional time staying current on organizational time-off policies for the employees.
- Connectivity with other Paycom tools through its single database. Paycom tools all work together as a complete HR and payroll platform in a single software, greatly facilitating the composite organization's staff's day-to-day work with these solutions. The single software eliminates redundant tasks and allows for performance and other criteria to be included in decisioning.
During an interview, a director of human resources in the retail industry said GONE eliminated the significant distraction and manual considerations associated with their organization's traditional approval process, which previously took up to 15 minutes per review. "With GONE, I know that all PTO requests are going to be handled instantly and fairly, without considering which individual is requesting it," they said.
You can read the full study about GONE's impact on businesses and their employees at paycom.com.
